Who’s topping this year’s Sunday Times Top Track 250?
Monday, October 17, 2011 | Posted by: Grant Thornton
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Find out which mid-market companies are leading the UK out of recession, with the release of the Sunday Times HSBC Top Track 250 list, sponsored by Grant Thornton.
The Top Track 250 is a Fast Track league table, published annually in October. It identifies UK companies that rank just below the Top Track 100 private firms for sales, provided they have also either increased sales or operating profit.
Top company in 2011
Partnership Life Assurance, whose ranges includes annuities, long-term care plans, life assurance and – as of last year – equity-release schemes was the top-performing company this year, with latest sales of £587.9 million.
The Top 10
- Partnership Life Assurance – life assurance underwriter based in central London.
- Noble Foods – egg products manufacturer based in Hertfordshire.
- Farmfoods – a Glasgow-based frozen food retailer.
- The Edrington Group – whisky and rum distiller based in Glasgow.
- Gondola – restaurant operator including Pizza Express, Zizzi, Ask and Byron.
- B&M Retail – a discount retailer based in Liverpool.
- Henderson Group– a food wholesaler based in County Antrim.
- Dhamecha Foods– a cash and carry wholesaler based in Wembley.
- ASCO – an Aberdeen-based oil and gas logistics provider.
- bet365 – online bookmaker with a head office in Stoke-on-Trent.
Some of the key themes behind the success of the Top Track 250 were improving sales, profit and operating margins through acquisition, private equity transactions and international expansion.
David Maxwell, Partner at Grant Thornton UK LLP, noted in the Sunday Times, that although bank finance remained scarce and conditions for growth difficult:
“…[these] dynamic mid-sized private firms are starting out on the next stage of growth by unveiling new products, seeking out fresh markets overseas or acquiring struggling rivals…
“After cutting costs and conserving cash when the recession hit, most are now concentrating on building sales and profits. This heartland of Grant Thornton is an under-recognised but important segment of business for the UK economy.”
Top Track 250 in stats
* Together, the Top Track 250 logged combined sales of £71.2 billion, compared with £64.2 billion in 2010.
* More than two thirds of companies on the league table (169) also increased their operating margin in their latest accounts. Combined operating profits came to £4.8 billion in 2011, up from £3.7 billion in 2010.
* The two biggest sectors represented in the league table are services, with 83 companies and retail with 81.
* In terms of M&A, which has experienced a marked slowdown in recent months, more than 30 companies on the Top Track 250 made an acquisition during the year.
* The regional breakdown was similar to last year: more than a quarter (65) of the companies on this year’s league table are based in London (2010: 51), with the Southeast home to 54 companies. The North has 51 – just one fewer than in 2010.
* Internationally, 115 companies have at least one overseas subsidiary (2010: 118) and 53 have at least one base in a developing country (2010: c50).
What happened to last year’s top 10?
Six companies moved up into the Top Track 100; one failed to meet the financial criteria; one improved its position in the Top Track 250; and two companies dropped down the table.
For the full league table of Sunday Times HSBC Top Track 250, visit the Fast Track site.
You might also find these posts useful:
* Confidence dips in Q3 2011 as businesses start to lose faith
* Jon Herbert of Lloyds Banking Group talks to us about the financing challenges for the mid-market
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