Oak grows back into health

Oak Holdings, the developer behind the £350m Yes! Project in South Yorkshire, has turned a loss into a profit.

The London firm made a pre-tax profit of 325,818 for the year to October 31, compared to a pre-tax loss of 791,515 for the previous 12 months.

Chairman Malcolm Savage said: "The outlook for Oak is a great deal brighter than it was 12 months ago." Its repositioning as a revenue-generating leisure business augured well .

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Earlier this month Aim-listed Oak announced it had raised 1.5m through a share issue and said it had applied to extend planning permission at the 1.2m sq ft mixed-use leisure and conference scheme between Rotherham, Swallownest and Beighton.