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The Pallet Network (TPN) says growth in volume has been so "meteoric" that a move to a new hub is imminent, despite it being in its current premises for just two-and-a-half years. Boss Adam Leonard says TPN is seeking a move to premises twice the size of its 200,000sqft hub in Rugby, Warwickshire, within a year. Three potential sites are "on the table" and TPN is reviewing the best deal, he adds.

TPN has seen pallet numbers grow by 31% in its past financial year. Leonard says current results  are "marginally below" the equivalent period last year, but remains "eight or nine points above what we were forecasting". TPN has 87 members and Leonard confirms it is not actively searching for more. He adds that, in light of the network's growth: "I'm still not convinced there isn't room for another network - I still think there are people out there." But he warns pallet sector entrants that "preparation is everything".

Pre-tax profit for TPN has climbed for the year to March 2007 to £1.6m from £414,389 in 2006. Turnover grew by 29% for the year, to £31.7m compared with £24.7m in 2006, while operating profit was up to £1.5m from £388,176 the previous year. Leonard goes on to say TPN is "very pleased with the results - it's a very solid foundation moving forward".

He points out that the dip in profit in 2006 was due to the network paying for both its current and previous premises. "This [2007] represents our first year of the one site," he confirms.