Nottingham-headquartered national auction house, John Pye & Sons Ltd, has seen record results from its latest financial year end, racking up significant increases in turnover, auction receipts and new bidder registrations.
For year ending 31st July 2023 the firm saw auction receipts hit £119 million and turnover reach £45 million, up 36% on the previous year. And, with new bidder registrations up 90% year on year it has been a record year all round.
Announcing the annual results, Adam Pye, Managing Director at John Pye & Sons, said: “These are incredible figures for our business. The team has worked so hard on several high-profile projects and achieved more than we ever thought possible during the period.
“I’m so pleased to report that we have again built upon the success 2022 and am happy to confirm that we’re in the fortunate position of being able to share discretionary bonuses with colleagues in their November pay.”
Last year the family business paid out in excess of £1,300,000. Based on this year’s results, the John Pye Board has agreed to the largest profit share in its history, at £2,000,000.