HARRISON Group Ltd, developer of the new £7.7 million office complex for Norwich Union at Monks Cross, Huntington, was today celebrating record profits for 2002.

Pre-tax profits for the group zoomed to £2.8 million, just beating the previous record of £2.7 million in 2000 and showing steep recovery from last year's dip to £2 million profits.

The glowing figures were yielded from a lower turnover of £24.3 million (£31 million in 2001) - and represents a happy half century celebration.

It also means that the firm has been able to set aside a hefty £6 million in cash for future investment.

The year started with the Norwich Union project and ended with a record order book.

The Group's partnering approach has resulted in major projects along the East Coast and in York - while also expanding throughout the North of England.

Harrison continues to play the lead role in the £35 million regeneration of Workington town centre, where the company is partnering with the North West Development Agency and Allerdale Borough Council.

Major achievements include -

- the handover of the impressive Scarborough Building Society headquarters - a landmark in the town's Gateway development

- the outstanding success of the brownfield regeneration of Whitby's Whitehall Landing, in partnership with KeyLand Developments - where sales of homes on the waterfront site have exceeded even the ambitious expectations of the partnership

- the model partnership between Home Housing Association, City of York Council and Harrison, which will see the provision of 46 much needed houses for rent and seven homes for sale on what was the run-down Tedder Road site in York.

Martyn Harrison, chairman of the group, said: "Already, 2003 has seen work start on the new £6 million hospice for St Catherine's in Scarborough, and the Group's forward order book stands at record levels."

Updated: 09:00 Tuesday, April 01, 2003