Bowey Group was once a general builder, but a management buyout of the company’s construction arm in 2002 allowed it to focus on the more profitable housing business. Trading mainly as Bowey Homes, the firm is a third-generation family business, which also runs small electrical contracting and facilities management operations. The Gateshead firm is taking advantage of the property boom by building larger and higher-margin homes in northeast England. Its profits have grown 52% a year from £1.5m in 2001 to £5.3m in 2004, despite a fall in sales after the buyout
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