Two Nottinghamshire companies are amongst ten headquartered within the Midlands that have won places on the 22nd annual Sunday Times BDO Profit Track 100 league table ranking Britain’s private companies using the fastest-growing profits over their last three years.
The Midlands companies have grown their operating profits by typically 64% a year over the last three years to some total of £93m, and together they employ a lot more than 2,100 people.
Featuring the very first time this year is Nottingham’s Serif, which has developed a suite of software products for graphics professionals. With international sales comprising 90% of turnover, profits grew 66% to £10.6m in 2021.
It has provided free trials and 50% discounts to assist creative workers affected by the pandemic.
Solihull is home to fitness clothing retailer Gymshark – which topped the table this past year and features for a fourth consecutive year. Its profits grew by 55% annually, reaching £30.6m in the year to July 2021, on sales of £260.7m. It had been valued at more than £1bn in August when US private equity finance firm General Atlantic acquired a 21% stake.
The companies in the Midlands appear alongside well-known British brands based across the UK including Thatchers Cider, the Somerset cider-maker, and Brompton, the London-based bicycle manufacturer.
Past star alumni include Dyson, which featured in 2000 with profits of £24m, and saw these rise to £711m in 2021, and global technology platform THG, which ranked # 1 in 2021, with profits of £11m; it floated this past year valued at £5.4bn and is now worth £6.5bn.
The Profit Track 100 league table is sponsored by BDO, Santander and UBS Wealth Management, and it is compiled by Fast Track, the Oxford-based research and networking events firm.
Richard Rose, tax partner at BDO, said: “These ambitious, entrepreneurially-spirited businesses punch well above their weight and are vital for the UK economy; they invest which investment also creates jobs.
“As the vaccine programme continues to be rolled out and lockdown restrictions are eased, high-growth businesses like these must have adequate support. We're pleased to see the range of business support measures within this year’s Budget. Developing and strengthening our innovation-focused economy is vital and these businesses will play a vital role in the UK’s wider economic recovery post-pandemic.”
The Nottinghamshire companies: