Three local firms make league table of Britain's fastest-growing profit stars
Three Cambridgeshire companies have been named in the list of British firms with the fastest-growing profits.
Published this weekend, the 17th annual Sunday Times BDO Profit Track 100 league table ranks Britain’s private companies with the fastest-growing profits over three years.
A new entrant to the top 100 is Huntingdon-based John Adams, the toy and leisure products wholesaler which merged with Toy Brokers in 2009 after managing director Simon Pilkington, 49, led a buyout of both businesses.
An expanding range of products, including a new pre-school range, helped it grow profits by an average of 57% a year to £5m in 2014.
Mick George, the earthworks, haulage and plant hire company, also makes the list having seen a growth in profits of 55% over three years.
The firm has expanded from a single tipper truck in 1978 to a fleet of more than 300 vehicles.
The other Cambridgeshire firm to make the list is Ridgeons, the Timber and builders’ merchant, which has seen a profit growth of 78% and now employs 773 people.
Lisa Clampin, partner and head of East Anglia at BDO, the title sponsor of the league table, said:
“Medium-sized businesses across the UK are thriving, creating one in four jobs and responsible for one third of the country’s total revenue.
“They are seizing the opportunities a recovering economy presents and the most profitable have remained focused on sustainable growth through investment in innovation, diversification and overseas expansion.”
The companies in the East appear with businesses from around the UK, including domestic appliance manufacturer Gtech, craft beer maker BrewDog, sushi bar chain Wasabi and toy retailer The Entertainer.
More than a quarter of the companies (29) are involved in construction and housebuilding, up from 15 in the previous year.