A SPECIAL EVENT TO mark a leading North East company achieving PLC status became a double celebration, thanks to the generosity of the region’s top business people.
Newcastle-based Malhotra Group PLC recently held a dinner attended by 100 business leaders and professionals to officially launch its new status.
And the company – which operates in the leisure, care and property sectors – also used the event to raise funds for their chosen charity for 2015, CHUF (Children’s Heart Unit Fund) at Newcastle’s Freeman Hospital, raising an impressive £11,742 on the night.
Guests attending the event listened to speeches from Sir Len Fenwick OBE, the Chief Executive of Newcastle Upon Tyne NHS Foundation Trust, Prof David Deehan, Honorary Clinical Professor with the University of Newcastle, North East Agent for the Bank of England, Mauricio Armellini and from Meenu Malhotra, Chairman of the Malhotra Group.
“We were delighted so many people from business across the region and beyond were able to join us to celebrate,” said Mr Malhotra.
“And it made the evening extra special because we were also able to raise a substantial amount of money for a very good cause.”
Representatives from businesses including Ernst Young, PwC, Sintons, Muckles and RBS were among the many who attended the celebration at Newcastle’s Jesmond Dene House.
The Malhotra Group, originally established through its founding company in 1991, has become a North East success story with a turnover that has seen growth year on year, from £19.5m in 2013 to £22m in 2014 and to a predicted £25m this year.
Currently employing around 1000 people, the Malhotra Group has already embarked upon a major five year expansion plan which should see staff numbers double by 2020.
Malhotra Group, which now includes a second generation family member on the Board, is part of Malhotra Family Holdings which has interests in both the UK and in India.
The shares in Malhotra Group PLC remain privately owned by the Malhotra family, although the opportunity for them to be bought by the public will be offered in the future.
The company owns and operates a range of hotels, bars and restaurants in and around Newcastle, along with ten care homes in the North East, with a further two in the pipeline.
In addition the Malhotra Group also owns a large commercial property portfolio, with a range of blue chip tenants such as RBS, Barclays Bank, Vodafone and Pret a Manger occupying their many high street and city centre locations nationwide.