North Eastern Tyre & Exhausts to Turnover £52 million in 2009
After achieving sales of £43 million in full-year 2008 results, North Eastern Tyre & Exhausts (NETE) is on track to achieve a £52 million turnover in 2009. A significant part of this growth can be put down the company’s purchase of 15 HiQ centres late last year in a move that saw the company’s retail footprint grow from eight to 23 depots overnight.
The NETE-owned HiQ stores are now benefiting from a two-year programme of investment, refurbishment and development, with a £2 million rebuild of the Leeds store. Local news reports said the Leeds HiQ store will now “set the new industry standard for Fast Fit centres with a state of the art workshop and customer waiting environment” when it opens its doors to the public on 1 December.