International Track 100 – who’s in the Top 10?

Monday, May 09, 2011 | Posted by: Grant Thornton
Categories: Thought leadership | Tags: business, entrepreneurs, growth, UK, international, list, Sunday Times, league table, HSBC, sales, companies, leaders, International Track 100, ranking, fastest growing, successful, International Track

Download the full 2011 list of the fast-growing UK companies by international sales, plus get a closer look at the leaderboard from yesterday’s Sunday Times HSBC International Track 100, in association with Grant Thornton.

The second annual International Track 100, compiled by Fast Track, was published yesterday [8 May 2011] in the Sunday Times (download the full list here). The list ranks privately held UK businesses by international sales growth over the latest two years of available accounts.

All the firms on the list have seen a significant rise in non-UK sales over the two years, scoring an average annual growth rate of 91%. At the top of the business league table, SMS Electronics notched up 418% growth in sales in 2010 alone.

David Maxwell, Partner, Grant Thornton UK LLP, speaking to the Sunday Times, said that companies were increasingly seeking growth through overseas expansion much earlier in the business life cycle.

“The research shows that half the companies on the Sunday Times HSBC International Track 100 league table sought out opportunities abroad in their first, second or third year.”

Despite barriers of regulation, language/cultural differences and finding suitable local talent, particularly in emerging markets, “dreams of huge growth” are driving more UK companies to look for opportunities abroad. Cross-border M&A activity also appears to be spreading to the mid-market and is no longer the preserve of large organisations.

Other barriers included financing and tax.

“Taxation is a common issue for businesses operating globally,” said Maxwell. “For those that build an international vision into their early thinking there is the opportunity of setting up suitable structures that can flex with the changing needs of the group.”

He concluded that many firms on the league table had overcome barriers to expansion because they demonstrated a clear competitive edge.

So who is topping the UK leaderboard?

International Track Top 10

1. SMS Electronics
This Nottingham-based electronics manufacturer formed in November 2002 following the management buy-out of Siemens Manufacturing Services. International sales have rocketed mainly due to demand for its video-conferencing systems – which have provided a cheaper alternative to travel during the downturn.
Website: Smselectronics.co.uk

2. Forward Internet Group
An online marketer, founded in 2004 and based in central London, Forward also runs a number of e-commerce and price comparison sites (including uSwitch) and has 1.3 million US registered users for its Invisible Hand price-comparison technology. It achieved a 287% two-year annual growth rate in international sales.
Website: Forward.co.uk

3. Kelway
Kelway is a fast-growing IT services provider, based in London and offering full-service tech delivery, support and infrastructure. It has an office in UAE (Dubai) and is also planning to expand into South Africa. International sales increased by 249% annually in the two years to 2010.
Website: Kelway.co.uk

4. A1 Pharmaceuticals
London-based pharmaceutical product distributor started selling own-label products to independent pharmacists in 1987. It now sells branded surgical dressings, pharmaceuticals and medical devices mainly to the EU but is expanding worldwide. International sales rose by 228% a year, from £552,000 in 2008 to £5.9m in 2010.

5. Byrom
In 2010, this Cheshire-based sports events management Plc provided accommodation, ticketing and IT services for the 2010 World Cup in South Africa, contributing to 226% sales growth annually from 2008 to 2010.
Website: Byrom.plc.uk

6. Arrowedge
Arrowedge is a pharmaceutical wholesaler located in Bournemouth and offering multi-product import and export services worldwide. It plans to target sales in South America after attending a recent trade show.  Overseas sales have risen by 222% annually from 2008 to 2010.
Website: Arrowedge.co.uk

7. Intamarque
Cheltenham distributor Intamarque distributes mixed containers of British food and toiletries to more than 30 countries. It is said to be one of the UK’s fastest-growing distributors of FMCG lines and has done particularly well in Asia and the Middle East, resulting in international sales growth of 207% a year over the past two years.
Website: Intamarque.com

8. Redwood Distribution
Redwood Distribution supplies soft-furnishing textiles and products to more than 50 countries from its base in Lancashire specialising in providing technical fabrics for use in hospitals, on public transport and in military equipment. It has notched up a 197% two-year annual growth rate in international sales.

9. Wilton Group
Middlesbrough-based Wilton Group began life as an engineering company and now provides services for the offshore, oil and gas, subsea and marine industries, working everywhere from mainland Europe to Africa and the Far East, and more recently setting up in Brazil. In 2010, it achieved a 187% two-year annual growth rate in overseas sales.
Website: Wilton-group.co.uk

10. Clipper Logistics Group
This warehousing and distribution company, located in Leeds, has grown from a team of three in 1992 to a leading logistics company with 2,500 staff and 28 distribution centres around Europe. It has recently acquired operations in Germany, which has resulted in overseas sales jumping by 161% per year since 2008.
Website: Clippergroup.co.uk

For the rest of the list, the International Top Track 2011 is available for download.

You might also find these posts useful:

* How are regional UK businesses embracing emerging markets?

* What are the global prospects for growth in 2011?

* Proposed amendments to UK’s takeover regime and its potential impact on acquisitive Indian companies