MENTMORE Abbey, one of East Lancashire's largest property management companies, has reported a massive 57 per cent increase in operating profits to £31.8 million.

The company provides over 500,000 sq ft of office and industrial accommodation for more than 100 small to medium-sized companies at its sites at Glenfield Park, Blackburn, and the Lomeshaye Business Village in Nelson.

More than £1 million has been spent on a major refurbishment at Lomeshaye over the past year, creating over 200,000 sq ft of light industrial workspace.

At Glenfield Park, a further 21,000 sq ft of property has been transformed into high-specification office accommodation for technology-based businesses.

And chief executive Kim Taylor-Smith has revealed that Mentmore was now planning to add more sites to its Lancashire portfolio.

"We are looking at a number of new opportunities in Lancashire," he said. "It is an area where we have an interest and where you have a strong centre, it makes sense to add to the portfolio."

Mentmore Abbey, which operates more than 200 business sites throughout the UK, also provides personal storage and records management.

For the year up to April 30 2001, the company had a turnover of £75 million, compared with £48 million for the previous 12 months.

Chairman Nick Smith said the company was continuing to invest in improving standards of service for customers.

"We have started an investment programme that will significantly improve the value we offer to our customers and thereby the returns that we earn," he said.

"Strategically, we have recognised that by investing to upgrade the specification of our centres and adding services we will be better placed to satisfy the needs of tomorrow's markets."