ECONOMIC development firm Enterprise plc has seen profits more than double.

The firm, involved in initiatives in East Lancashire including a training centre at the Globe Centre in Accrington and Blackburn Technology Management Centre, saw pre-tax profits increase from £1.7 million in 1997 to £3.8 million in 1998.

Group turnover rose by 31 per cent to £26.5 million.

Chief executive David Taylor described the results as "excellent".

"During the last 12 months the scale of our activities has expanded significantly and turnover has grown but most importantly profits have significantly increased," he said. "If the immediate economic future looks somewhat turbulent we can draw strength from the fact that difficult economic circumstances at the local or regional level tend to increase the demand for our services."

And Mr Taylor said future prospects for the group were strong.

"We have yet to reap the full benefit of the changes we have instigated over the past two years and we remain confident about our prospects for the future."

In December Enterprise acquired Prism, a Telford-based company which specialises in economic research.

Sir Leslie Young, who has been a non-executive director of the company since 1992, is replacing Jim Mason CBE who is retiring after 16 years as chairman.

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