YES! Project company hails profit success

LEISURE business operators Oak Holdings—which is behind the £350 million YES! Project—has a “brighter” outlook than 12 months ago, its financial results revealed this week.

Pre-tax profit was £326,000 for the year ending October 31, 2009, compared with a loss of more than £790,000 for the previous 12 months.

The company, which also runs Rother Valley Country Park, announced the deal to bring ice hockey champions the Sheffield Steelers to the borough last month.

It also raised an extra £1.5 million through issuing new shares.

Chairman Malcolm Savage said: “The outlook for Oak is a great deal brighter than it was 12 months ago.

“The repositioning of the company as a revenue generating leisure business, creating value through trading and property investment activities, augurs well for shareholders.

“The directors are confident that this will enable Oak to take advantage of current market opportunities as they arise, while continuing to retain the longer term value of its property development potential.”

YES! is set to become the largest covered leisure development in Europe. It will include a brand new stadium for the Steelers.