Profits taste sweet for Candy & Candy

PROPERTY developer brothers Christian and Nick Candy celebrated a return to profit for their interior design company yesterday after it lost £4.4m in 2010.

Candy & Candy reported a £1.1m pre-tax profit in the year to June 2011 after completing its flagship project designing the interiors of the opulent One Hyde Park development in Knightsbridge. Turnover jumped 29 per cent to £10.8m compared to 2010, while the company’s expenses fell by 32 per cent to £4.3m.

The firm said it had “a robust and successful year of private client design commissions and significant fees for acting as interior design and development manager on large projects”.

The firm did not handle the sales of the luxury flats, though. The proceeds went to Project Grande, an offshore joint venture between the brothers’ CPC firm and Qatar’s Prime Minister.