Drinks and confectionery wholesaler HT & Co has increased its turnover by 16% in the past year, according to new accounts posted at Companies House.

The Park Royal-based company turned over £135m in the year to 30 September 2008, compared with £116m in the same period the previous year.

However, pre-tax profits slipped from £1.2m to £1.1m, giving a profit margin of just 0.8%.

The company said it had bought a £1.7m property during the course of the year, which had increased the value of its assets to £8.5m. Administrative costs had also increased to £1m after the company hired staff and bought IT equipment, it added.

The accounts also revealed that HT & Co had received £300,000 as part of an insurance pay-out following a fire in a neighbouring premises in August 2007.