Sales rise at Chi Yip

CHI Yip Holdings grew sales by 10% last year to £39.5m, according to recently-filed accounts.

The company, which operates a large warehouse that sells Chinese groceries to both trade and retail customers at Middleton in north Manchester, also increased pre-tax profits by 23% to £452,668.

Chi Yip was set up in 1980 and is run by founder Stuart Yip. The company’s base at the Greengate Industrial Park also includes a 90,000 sq ft seafood restaurant, Ocean Treasure, at first floor level.

Notes to the accounts prepared by Mr Yip stated that directors were “satisfied” with the company’s financial performance in 2011.

“Looking forward, the directors believe the future of the business will be profitable and secure.”

Mr Yip also owns the Red Chilli chain of restaurants, the Ocean Tr235ure restaurant at the Manchester235 casino and the K2 karaoke bar on George St in Manchester’s Chinatown. The latter opened following a £2.8m investment.