Report - Lloyds Bank Commercial Bank

Research Report 2015
Profit Track 100 Research Report 2015
Britain's private companies with the
fastest-growing profits
In association with
1
i
Profit Track 100 Research Report 2015
CONTENTS
© 2015 Profit Track 100
INTRODUCTION
Top 10 Profit Track 100 companies
1
1
EXECUTIVE SUMMARY
2
KEY STATISTICS
Growth in profits
Margins
Sales
Staff & job creation
Regional breakdown
Foundation dates
Sector breakdown
Industry breakdown
Ownership
3
3
4
4
5
5
5
6
7
7
SIXTEEN YEARS OF PROFIT TRACK 100
8
KEY THEMES & SELECTED COMPANY PROFILES
International expansion
External capital
Manufacturing
UK infrastructure
Family-owned
Well-known brands
9
9
10
11
12
13
14
2015 PROFIT TRACK 100 LEAGUE TABLE
15
ONES TO RECOGNISE
19
METHODOLOGY
Qualification criteria
Research approach
20
20
20
SPONSORS & MEDIA PARTNER
21
ABOUT FAST TRACK
Compiler & publisher
The authors
Fast Track
23
23
23
24
CONTACT DETAILS
24
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
1
INTRODUCTION
This is the sixteenth year of The Sunday Times Profit Track 100,
which has become the definitive league table of Britain’s private
companies with the fastest-growing profits. BDO is the title sponsor
of the league table, and the main sponsors are Lloyds Bank
Commercial Banking, and UBS Wealth Management.
Online retailer The Hut Group tops the league table
with an average profit growth of 217% pa over the past
three years.
The 2015 Profit Track 100 ranks companies based on their average
operating profit growth over three years, either from 2010 to 2013,
or 2011 to 2014, depending on the companies’ latest available
accounts.
This year’s league table findings demonstrate that companies are
benefitting from an improving economic environment. Average profit
growth for the 100 companies over their latest three years was 68%
a year, with combined profits of £1.4bn.
Companies on the table include household names such as travel
search engine Skyscanner (No 3); biscuit and cake maker Tunnock’s
(No 26); bike manufacturer Brompton Bicycle (No 82); and home
accessories retailer The White Company (No 95).
The No 1 company for the second year running is online retailer The
Hut Group, which principally sells a range of branded and
own-branded health and beauty products. It grew profits 217% a
year from £503,000 in 2011 to £16m in 2014.
These figures show the impressive contribution of the Profit Track
100 companies to the British economy, and are outlined in more
detail in the following pages.
Top 10 Profit Track 100 companies
Rank
2015
Rank
2014
1
1
Company
Activity
HQ location
FYE
3yr average
annual profit
growth
Latest
profits
£000
Latest
sales
£000
Staff Founded
The Hut Group
Online retailer
Northwich
Dec 14
216.58%
*15,959
*248,000
1,049
2004
2
money.co.uk
Price comparison website
Gloucestershire
Oct 13
148.60%
10,724
16,365
20
2008
3
Skyscanner
Travel search engine
Edinburgh
Dec 13
139.87%
17,736
65,819
377
2001
Thomsons Online Benefits
Employee benefits software developer
Central London
Dec 13
127.12%
8,259
36,732
336
2000
4
5
5
32
Global Energy Group
Energy services provider
Inverness
Mar 14
124.79%
40,670
471,840
5,102
2005
6
9
Immediate Media Co
Magazine publisher
West London
Mar 14
122.02%
15,826
150,596
844
2011
7
Macdonald Humfrey
Technology systems integrator
Luton
Dec 13
111.32%
8,674
43,840
265
1988
8
Glass Recycling UK
Glass recycler
Barnsley
Sep 13
111.21%
6,327
20,165
60
1974
9
Motor Fuel Group
Fuel retailer
St Albans
Dec 13
105.67%
4,473
239,143
19
2004
Childrensalon
Childrenswear retailer
Tunbridge Wells
Dec 14
100.35%
*5,663
*28,347
140
1952
10
Profit = operating profit
* Pro-forma or draft
© 2015 Profit Track 100
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Profit Track 100 Research Report 2015
Growth in profits
EXECUTIVE SUMMARY
Number of companies in each range of compound
annual growth rate (CAGR) of profits over latest 3 years
Overview
>=100%
• The Profit Track 100 companies, on average, increased their
profits 68% a year over the last three years, from a total of
£350m to £1.4bn*.
10
25
70%–99%
2
33
50%–69%
41%-49%
32
• Combined sales of the 100 companies were up by 74% over
the last three years, from a total of £7.4bn to £12.9bn.
• 44 of the companies are majority-owned by an entrepreneur
and/or founders, while 29 are majority-owned by private
equity or venture capital firms
• Services (46 companies) and manufacturing (24 companies)
are the dominant sectors on the league table
• The majority of the companies are based in London (26) and
the Southeast (19)
Key themes
Characteristics of an average
Profit Track 100 company
International expansion: Approximately two thirds of
the companies have grown profits in part thanks to their
international expansion. [page 9]
Profits
Average growth over three years
68% pa
Profits in 2013/14
£14.4m
Profits in 2010/11
£3.3m
Profits margin latest year
16%
Profits margin base year
8%
Sales
Average growth over three years
26% pa
Sales in 2013/14
£129.4m
Sales in 2010/11
£74.2m
Staff
Typical number of staff in 2013/14 410
Typical increase in staff over three years 14% pa
Company characteristics
Region
Greater London (26%)
Sector
Services (41%)
Profits = operating profit
External capital: A third of the companies have raised external
capital, whether from private equity/venture capital firms,
business angels or corporate investors. [Page 10]
Manufacturing: There are 24 manufacturers on the league
table, the majority of which make some or all of their products in
the UK. [page 11]
UK infrastructure: At least 20 companies, including civil
engineers, housebuilders and office suppliers, have benefitted
from a recovery in public investment in infrastructure and the
improving economy. [Page 12]
Family-owned businesses: 17 companies on the league table
remain owned by the founder's children or other descendants,
including some owned and run by the third or fourth generation.
[Page 13]
Well-known brands: The league table features a number
of household names, some of which are making repeat
appearances on the Profit Track 100. [page 14]
* Direct comparison with past league tables are not possible due to the change of criteria.
Companies were ranked on the growth in their operating profit for the 2015 league table,
and directors' remuneration was not added back as in previous years.
© 2015 Profit Track 100
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
Range of profits
KEY STATISTICS
Number of companies in each range
Growth in profits
>=£50m
• Profit Track 100 companies, on average, increased their profits
by 68% a year over their last three years, from a combined
£330m to £1.4bn
3
10
£20m–£50m
19
£10m–£20m
3
35
£5m-£10m
33
£3m-£5m
10 companies with the highest profits
Company
Rank Activity
Latest
profits,
£m
FYE
61
bet365
Online bookmaker
317 Mar 14
28
Expro International
Oilfield services provider
102 Mar 14
32
The Edinburgh Woollen Mill
Clothing retailer
71 Mar 14
23
Huntswood
Customer service provider
44 Sep 14
Global Energy Group
5
Energy services provider
41 Mar 14
96
CALA Group
Builder
38 Jun 14
35
Addison Lee
Minicab & courier services provider
33 Aug 14
98
Alexander Dennis
Bus & coach manufacturer
29 Dec 13
59
Principal Hayley
Hotel operator
27 Dec 13
78
Callcredit Information Group
Consumer data analyst
26 Dec 13
• Online bookmaker bet365 (No 61) showed the highest profits
on the table with an impressive £317m, on sales of £1.4bn.
With customers in 200 countries, bet365 is also the majority
shareholder of Stoke City Football Club
• 32 companies had profits of £10m or more, including magazine
publisher Immediate Media (No 6) with £15.8m, and energy
services provider Global Energy Group (No 5) with £40.7m.
35 companies on the table had profits between £5m and £10m
• The top-ranked company, online retailer The Hut Group,
boosted profits an average 217% a year from £503,000 in 2011
to £16m, before deduction of some exceptional costs, in 2014
• Profits at the 100th ranked company, food distributor
Reynolds, grew an average of 43% a year, from £1m in 2010 to
£3m in 2013. The company also had the lowest profits on the
league table
• The biggest absolute increase in profits was recorded by the
company that also had the highest profits: bet365’s profits
increased by £229.5m between 2011 and 2014, with sales
growing from £501m to £1.4bn in the same period
Profits = operating profit
© 2015 Profit Track 100
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Profit Track 100 Research Report 2015
Profit margins
Margins
Number of companies in each margin range
• Profit growth across the companies has been driven by an
improvement in margins, which have doubled to an average of
16% in their latest year, from an average of 8% three years ago
12
>=30%
20%-29%
15
10%-19%
39
5%-9%
• Nearly half of the companies (48) increased profit margins by more
than 2% in their latest year
• 12 companies had profit margins of more than 30%. The
companies with the highest margins are price comparison website
money.co.uk (No 2), which has profit margins of 66%; and online
job site CV-Library (No 49), which has profit margins of 50%
22
0%-5%
4
12
5 companies with the highest profit margins
Rank Company
Activity
Profit
• The company with the lowest margins, at 1.4%, is contractor and
developer Clancy Docwra (No 65), with profits of £3.8m, and sales
of £269.5m
FYE
money.co.uk
Price comparison website
65.5% Oct 13
Sales
49
CV-Library
Online job site
50.1% Jun 14
• Total combined sales were up by 74%, from £7.4bn in 2010/11 to
£12.9bn in 2013/14
15
Abbey Forged Products
Steel products forger
40.7% Oct 13
17
Centek
Oilfield equipment manufacturer
40.0% Oct 13
84
UKFast
Internet hosting provider
38.1% Dec 14
2
5 companies with the biggest sales
Rank Company
Activity
Latest
sales £m
FYE
61
bet365
Online bookmaker
1,371 Mar 14
39
Marshall Group
Engineering & motor retail
1,293 Dec 13
28
Expro International
Oilfield services provider
875 Mar 14
24
Alexander Mann Solutions
Recruitment consultancy
617 Dec 13
32
The Edinburgh Woollen Mill
Clothing retailer
552 Mar 14
© 2015 Profit Track 100
• The company with the biggest sales in its latest year was bet365
(No 61). Its customers bet on financial markets, live sporting events
or play its online casino games, and sales reached £1.4bn in 2014
• Travel search engine Skyscanner (No 3) recorded the highest
growth in sales which increased an average 95.5% a year from
£8.8m in 2010 to £65.8m in 2013
• Online job site CV-Library (No 49) has the lowest sales, of £12.5m
with profits of £6.3m in 2013. The company stores 8.3m CVs that
are accessed, for a fee, by recruitment agencies and companies.
Last year it launched its Resume Library recruitment site in America
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Profit Track 100 Research Report 2015
Number of employees
Staff and job creation
Number of companies in each staff range
• The 100 companies employ a total of 76,200 staff, resulting
in average profits per staff member of £18,900 in the latest
financial year
3
>=5,000
• Together, the 100 companies added nearly 24,500 jobs during
the last three years, although in some cases employees were
taken on as part of an acquisition
19
1,000-4,999
14
500-999
18
250-499
26
100-249
20
<100
5
• 36 of the companies employ more than 500 staff, while 8
companies have fewer than 50 staff, including hair products
supplier Tangle Teezer (No 14) with 15 employees
Regional breakdown of HQ in UK
Scotland
11
Northwest
Northeast
11
• The largest employer is clothing retailer The Edinburgh Woollen
Mill (No 32), with 10,290 staff
11
• Tourism smartcard developer Leisure Pass Group (No 88) has
the highest level of profitability per employee, at £933,000,
and contractor and developer Clancy Docwra (No 65) has the
lowest, with £1,849
Regional breakdown
The regional breakdown is broadly similar to last year’s table, with
the most companies based in London.
N. Ireland
Midlands
3
7
Wales
East
3
3
• The southeast of England has the second highest number of
companies, with 19 based there
Foundation date ranges
Southwest
Greater London
6
26
Southeast
19
Number of companies in each range
28
After 2000
37
1980-1999
• The youngest company is Immediate Media Co (No 6), which
was founded in 2011 when private equity house Exponent
merged media business Magicalia with Origin Publishing and a
portfolio of BBC magazine titles bought for £121m
24
1950-1979
8
1900-1949
Before 1900
• The Profit Track 100 companies are of very diverse ages, with
an average foundation date of 1981, although this is skewed by
a small number of much older companies
• One of the oldest companies on the league table is shoe
manufacturer Loake Brothers (No 68). Since it was started in
1880, it has made more than 50m pairs of shoes – many of
them at the Kettering factory it built in 1894 and still uses
Foundation dates
• 26 companies are headquartered in London, compared with
33 last year
3
© 2015 Profit Track 100
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Profit Track 100 Research Report 2015
Sector breakdown
Sector breakdown
(last year's figures in brackets)
• The two largest sectors are services, with 46 companies, and
manufacturing with 24
Wholesale 11 (9)
Construction 11 (6)
Retail 20 (16)
Manufacturing
(inc. outsourced) 24 (26)
Services 46 (55)
Note: companies can operate in
more than one sector.
6
• Services (46) businesses encompass a wide range of industries
from theme park operator Paultons Park (No 18), to industrial
painter and scaffolder Taziker Industrial (No 34) and helicopter
fleet operator PDG Helicopters (No 76).
The service sector represents combined profits of £922m and
employs 38,900 staff
• Manufacturers (including outsourced) (24) such as steel
forger Abbey Forged Products (No 15), biscuit and cake maker
Tunnock’s (No 26), and aerospace component manufacturer Inflite
(No 64).
The manufacturing sector represents combined profits of £200m
and employs 11,900 staff
• Retailers (20) range from childrenswear retailer Childrensalon
(No 10) to travel agency Riviera Travel (No 20) and home shopping
jewellery retailer The Genuine Gemstone Company (No 77).
The retail sector represents combined profits of £277m and
employs 26,700 staff
• Construction (11) includes luxury housebuilder Kirkwood Homes
(No 13) and civil engineering contractor Story Contracting (No 33).
These companies represent combined profits of £100m and
employ 4,500 staff
• Wholesalers (11) include tool distributor Silverline Tools (No 36)
and coin and stamp distributor 288 Group (No 47).
The wholesale sector represents combined profits of £62m and
5,100 staff
© 2015 Profit Track 100
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Profit Track 100 Research Report 2015
7
Industry breakdown
Industry breakdown
(last year's figures in brackets)
• Business services is the best-represented industry with 18
companies including crane hirer Ainscough (No 12), retail sign
manufacturer Blaze Signs (No 75) and brand design agency Design
Bridge (No 79).
Business services 18 (17)
Business services companies have combined profits of £200m and
employ 10,000 staff
Consumer goods 17 (12)
Building-related 15 (8)
Computers & electronics 10 (4)
Leisure 9 (9)
• Consumer goods accounts for 17 companies including toy
retailer The Entertainer (No 21), bicycle manufacturer Brompton
Bikes (No 82) and home accessories retailer The White Company
(No 95).
Consumer goods companies represent combined profits of
£179m and employ 17,600 people
• Building related accounts for 15 companies. Examples include
solar technology developer Solarcentury (No 38) and housebuilder
Strata Homes (No 51).
Building companies represent combined profits of £121m and
employ 5,700 staff
Engineering 8 (15)
Food & drink 5 (6)
Automotive 4 (7)
Recruitment 3 (1)
Other 11 (21)
Majority ownership
Number of companies by majority ownership type
(last year's figures in brackets)
Business Angels 1 (2)
Management & staff
10 (17)
Family 17 (10)
PE and/or VC
28 (30)
Entrepreneur and/or founder 44 (42)
© 2015 Profit Track 100
Ownership
• Entrepreneurs and founders have a majority ownership of 44
companies (2014: 42) in the Profit Track 100.
Examples include earthworks, haulage and plant hirer Mick George
(No 69), which is majority owned by its eponymous founder, who
is aged 58; and auto industry information provider Jato Dynamics
(No 11), which is majority owned by founder and chairman Jake
Shafran, 63
• 28 companies on the league table are majority owned by privateequity firms (2014: 30).
Examples include the UK franchise owner of the doughnut brand
Krispy Kreme (No 19), which is owned by Alcuin Capital and Indigo
Capital, since they acquired a majority stake from founder and
chairman Haven Burke, in 2011. Another example is consumer
data analyst Callcredit Information Group (No 78), which last year
was sold by Vitruvian Partners to Chicago-based private equity firm
GTCR for a reported £480m
• 17 of the companies are family owned, i.e. they remain owned by
the founder’s children or other descendants (2014: 10).
Examples include tour operator and coach hirer Edwards Coaches
(No 29), which is run by managing director Mike Edwards, 66, the
fourth generation of his family to do so. Others include contractor
and developer Clancy Docwra (No 65), which was founded by
Michael Clancy in the 1950s, and is now run by his sons Kevin, 65,
and Dermot, 63
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Profit Track 100 Research Report 2015
Companies with the most appearances
No. of
times
ranked Rank Company
Latest
profits,
£m
4
12
Ainscough Crane Hire
4
61
bet365
4
85
XLN Business Services
4
87
Story Homes
6
3
4
Thomsons Online Benefits
8
3
5
Global Energy Group
41
3
15
Abbey Forged Products
17
3
17
Centek
15
3
26
Tunnock's
6
3
27
Kebbell Homes
4
3
43
GAP Group
3
51
Strata Homes
9
3
63
Audio Network
6
3
88
Leisure Pass Group
15
3
92
Control Risks
22
18
317
13
15
8
SIXteen years of Profit Track 100
• Profit Track 100 was launched 16 years ago to recognise the
success of Britain’s private companies with the fastest growing
profits. Since its launch, more than 1,100 different companies have
appeared on the league table
• 18 companies from last year’s table make a repeat appearance
this year, and four companies make an appearance for the fourth
time, including crane hirer Ainscough (No 12), online bookmaker
bet365 (No 61), housebuilder Story Homes (No 87), and business
service provider XLN (No 85)
• Past stars that have floated include mobile phone retailer
Carphone Warehouse, which became a listed company in 2000,
and following its merger with Dixons last year, is valued at close
to £5bn; visitor attraction operator Merlin Entertainments, which
floated in 2013, and is valued at £4.3bn; and patisserie and café
operator Patisserie Valerie, which floated on AIM last year, and is
valued at £275m
• Other past stars have been acquired such as fruit drinks maker
innocent and online greetings card retailer Moonpig.com. Many
others remain privately-owned such as shoe manufacturer and
retailer Dr Martens and online sports goods retailer Wiggle
The vital statistics of league table companies have changed significantly
over the last 16 years:
2000
2015
£700m
£1.4bn
57,000
76,200
55%
68%
124%
217%
Total profits
Total employees
Average profit
growth pa
Top company
growth rate pa
© 2015 Profit Track 100
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Profit Track 100 Research Report 2015
9
KEY THEMES & SELECTED COMPANY PROFILES
On the following pages we profile examples of companies that
demonstrate some of the key themes from this year’s league table.
International EXPANSION
Fine Industries (No 40) exports over 80% of its chemical
products to mainland Europe.
3
Skyscanner
Its flight search engine is available in 42 countries and is used by
25m people to book airline tickets each month
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
Skyscanner launched a mobile app in 2011, which has since
been downloaded more than 30m times. Under co-founder and
chief executive Gareth Williams, 46, the Edinburgh company
grew profits to £17.7m in 2013, when it secured investment
from Sequoia Capital, valuing it at £500m. It has opened offices
in Beijing, Miami, Singapore, Sofia and Glasgow, and last year
acquired Chinese metasearch company Youbibi and Hungarian
mobile app development company Distinction, both for
undisclosed sums.
Travel search engine
Edinburgh
Dec 13
139.87%
£17.7m
£1.3m
£65.8m
377
Fine Industries
40
Custom chemical manufacturer
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
Middlesbrough
Sep 13
66.67%
£6.9m
£1.5m
£41.0m
275
bet365
61
Online bookmaker
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
§
Around two thirds of the companies have international
operations. They include online retailer The Hut Group (No 1),
which trades in 20 languages and last year shipped 13m orders
to 190 countries; and home shopping jewellery retailer The
Genuine Gemstone Company (No 77), which started exporting
to 21 new overseas markets last year, and produces a 24-hour
jewellery shopping show that is broadcast in America called
Rocks TV. Other examples are profiled below.
Stoke-on-Trent
Mar 14
53.55%
£317m
£87.6m
£1.4bn
2,875
Exports over 80% of its chemical products to mainland Europe
This company's 25-acre facility in Middlesbrough manufactures
specialist agriculture and pharmaceutical chemicals, which are
sold to multinational clients in countries including Germany,
Switzerland, and America. The group has also received
approval to process third-party hazardous waste with its high
temperature thermal oxidiser, one of only three in Britain. 2013
saw a £53m management buyout backed by private equity firm
NorthEdge Capital, and profits more than tripled to £6.9m.
Chairman Brian Davidson joined following the buyout, and
assumed executive responsibility in July 2014.
Customers from 200 countries visit its website, which is available
in 17 languages
bet365 recorded revenue of more than £1.4bn last year – up
38%. The rise helped it more than double profits to £317m. As
well as having a flutter on a variety of sports, customers can also
bet on the financial markets and play casino games or watch
one of 50,000 live sports events shown each year. Owned by the
Coates family, and with customers in 200 countries, bet365 is
also the majority shareholder of Stoke City Football Club.
compound annual growth rate between 2010/11 and 2013/14
© 2015 Profit Track 100
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Profit Track 100 Research Report 2015
10
External capital
The owners of a third (32) of the companies have received
equity funding from investors such as venture capital or private
equity firms, business angels and/or corporations to launch and
grow their businesses. 28 have sold majority stakes to external
investors. For instance online bath equipment retailer Victoria
Plumb (No 81) was acquired by TPG Capital in a £200m deal last
April. Other examples are profiled below.
PDG Helicopters (No 76) underwent a £20m buyout
backed by LDC in February.
76
78
85
PDG Helicopters
Underwent a £20m primary management buyout backed by
LDC in February
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
Flying from Inverness, Glasgow, Wolverhampton and Dublin,
PDG registers 10,000 hours of helicopter flight time every
year. Its aircraft are used to undertake a wide variety of
work from fish transfers and fire fighting to aerial filming and
forestry spraying. Its helicopters are also available to hire as a
convenient method of transport. Profits reached £3.6m in 2014.
Helicopter fleet operator
Inverness
Sep 14
48.35%
£3.6m
£1.1m
£15.6m
88
Callcredit Information Group
Private equity firm GTCR paid a reported £480m to acquire the
group last year
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
This Leeds business specialises in the management and analysis
of consumer data for businesses both in Britain and overseas,
with expertise across many sectors, such as finance, retail and
utilities. The group has additional operations in Japan, China,
Dubai and Lithuania, and profits reached £26.1m in 2013.
Last year, Chicago-based private equity firm GTCR bought the
group from Vitruvian Partners for a reported £480m, and Mike
Gordon, 45, joined as chief executive in November.
Consumer data analyst
Leeds
Dec 13
47.78%
£26.1m
£8.1m†
£125.8m
1,044
XLN Business Services
Private equity firm Blackstone backed a secondary buyout worth
£150m last year
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
London-based XLN provides 250,000 small firms with
broadband, telephone and utilities, as well offering credit and
debit-card transactions. From its inception in 2002 as XLN
Telecom, it grew organically until private equity firm ECI Partners
backed a £77m in 2010. Last year, founder Christian Nellemann,
48, boosted the company’s profits to £12.8m by expanding sales
and bundling packages, and in October fellow private equity
firm Blackstone backed a secondary buyout worth a reported
£150m, enabling ECI to exit.
Business services provider
Central London
Mar 14
46.21%
£12.8m
£4.1m†
£63.8m
254
§ compound annual growth rate between 2010/11 and 2013/14
© 2015 Profit Track 100
† annualised figure
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Profit Track 100 Research Report 2015
11
Manufacturing
There are 24 manufacturers on the league table, the majority
of which make some or all of their products in the UK,
including steel forger Abbey Forged Products (No 15) and
oilfield equipment manufacturer Centek (No 17). Those with
international manufacturing operations include office furniture
manufacturer Senator International (No 52), which has a factory
in Ohio, America, and electrical products manufacturer Nexus
Industries (No 97), which has a factory in China.
Randox Laboratories (No 44) manufactures a range of
diagnostic products at its plant in County Donegal.
44
Randox Laboratories
Designs and manufactures a range of diagnostic products at its
plant in County Donegal, Ireland
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
Randox designs and manufactures diagnostic instruments and
tests used in medical laboratories. It also supplies antibodies
and proteins to the healthcare industry. The group distributes
95% of its products to more than 145 countries, and says
350m people across the globe are diagnosed with one of its
products every year. Under founder and managing director
Peter Fitzgerald CBE, 64, profits tripled to £16.3m in 2013. The
company plans to invest £161m in a new science park near its
head office in County Antrim.
Diagnostics manufacturer
82
County Antrim
Dec 13
65.31%
£16.3m
£3.6m
£90.9m
989
Brompton Bicycle
Its quirky folding bikes are hand-built in London from 1,200
mostly specially-made parts
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
Founder Andrew Ritchie, 68, designed his first Brompton in 1975
and chief executive Will Butler-Adams, 40, has driven expansion
following a buyout in 2008. In 2014, it made 45,000 bikes,
generating profits of £3.5m on sales of £27.2m, 80% of which
was exports. Two of its nine shops are in China, with others in
London, Kobe, Hamburg, Milan and Amsterdam. It also operates
a bike hire scheme, with 40 docking stations in 20 UK cities.
Bicycle manufacturer
West London
Mar 14
47.02%
£3.5m
£1.1m
£27.2m
200
Captec
93
Specialist computer manufacturer
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
§
Hampshire
Dec 13
44.86%
£4.1m
£1.3m
£16.1m
77
Manufactures specialist computers for sectors including
defence, and has also expanded into wearable technology
Captec is a manufacturer of specialist computers for
challenging environments, with applications in sectors that
include transport, energy, medical, communications, defence,
automation and gaming. The Hampshire business is owned by
the Toti family and is led by managing director Max Toti, 54. The
group has been expanding into mobile computing, tablets and
wearable technology, and plans to float on the stock market in
the next three years. Investment in R&D and marketing helped
profits rise to £4.1m in 2013.
compound annual growth rate between 2010/11 and 2013/14
© 2015 Profit Track 100
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
12
UK INFRASTRUCTURE
Story Contracting (No 33) plans to recruit 40 staff this year
after securing £100m of work from Network Rail.
33
Story Contracting
Plans to recruit 40 staff this year after securing £100m of work
from Network Rail
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
Story Contracting was founded 28 years ago by chief executive
Fred Story, 58. Based in Carlisle, the multi-disciplinary group
specialises in rail infrastructure works, plant hire to the rail
industry and construction. It was demerged from Story Homes
in 2013 and won Network Rail's 'supplier of the year' award last
year. Further expansion is expected after it secured a five-year
framework agreement with the rail network. Profits tripled to
£5.5m in 2014.
Construction & civil engineering contractor
34
Carlisle
Mar 14
72.64%
£5.5m
£1.1m
£52.4m
309
Taziker Industrial
Has an annual contract for the specialist painting of Jodrell Bank
telescope
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
Taziker Industrial is led by its founder and chief executive Tom
Taziker, 69, and operates as a specialist structural repair and
refurbishment contractor. The Bolton-based group has 30
sites nationwide, and has benefitted from public investment to
improve the country's rail infrastructure, winning contracts with
Network Rail framework as part of the extensive 'CP5' upgrade,
both for Scotland and for London North Eastern area. Profits
rose to £10.4m in 2014.
Industrial painter & scaffolder
69
Bolton
Mar 14
72.07%
£10.4m
£2m
£54.2m
525
Mick George
Has expanded from a single tipper truck in 1978 to a fleet of
more than 190 vehicles
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
Named after its founder and managing director Mick George,
58, this Cambridgeshire company provides services to the
construction industry that include demolition, bulk excavation,
earthmoving, waste management, ready-mix concrete and skip
hire. With its head office in St Ives, the group also operates
a network of quarries and recycling facilities throughout East
Anglia and the East Midlands, producing aggregates such as
limestone, sand and gravel. Investment in its fleet of commercial
vehicles helped profits triple to £5.3m in 2014.
Earthworks, haulage & plant hirer
§
After public spending was slashed in the Coalition's first
Budget, the Treasury began increasing public expenditure on
infrastructure to stimulate the economy. It also launched a
series of initiatives to encourage construction such as the Help
to Buy and Enterprise Zones schemes. 20 companies on the
league table have benefitted directly from such stimulants or
indirectly from private sector investment resulting from renewed
confidence in the economy, which grew by 2.6% in 2014.
Examples include plant hirer GAP Group (No 43), which has
opened 26 new locations last year, and also those listed below.
St Ives
May 14
49.57%
£5.3m
£1.6m
£54.2m
359
compound annual growth rate between 2010/11 and 2013/14
© 2015 Profit Track 100
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
13
FAMILY-OWNED
Family firms feature prominently on the league table with 15
companies. Examples include The Edinburgh Woollen Mill (No
32), which is owned and run by the Day family and has expanded
by making opportunistic acquisitions; Marshall Group (No 39),
which is led by Robert Marshall, the fourth-generation of the
family to run the engineering firm; and the ones profiled below.
Childrensalon (No 10) is now run by the second and thirdgeneration of the family, selling children’s clothes from 270
brands.
10
Childrensalon
Stocks children’s clothes from more than 270 brands, including
Dior, Gucci and Burberry
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
Childrensalon was started in 1952 by Sybil Harriman with a
single shop in Tunbridge Wells selling handmade children’s
clothes. Today it operates websites in seven languages and sells
to parents across Europe, the Middle East, USA and Australia,
who buy Dior, Gucci and Burberry, amongst other branded
clothes and accessories. Headed by the founder's daughter,
Michele Harriman-Smith, 62, and her husband George Smith,
67, profits rose to £5.7m last year.
Childrenswear retailer
Tunbridge Wells
Dec 14
100.35%
£5.7m*
£0.7m
£28.3m
140
Tunnock's
26
Biscuit & cake maker
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
Glasgow
Feb 14
78.14%
£6.2m
£1.1m
£47.8m
489
Edwards Coaches
29
Tour operator & coach hire
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
§
Pontypridd
Mar 14
75.78%
£3.1m
£0.6m
£32.8m
402
Founded in 1890, it is run by Boyd Tunnock, 82, the founder’s
grandson
Dancers dressed as giant Tunnock’s teacakes graced the
opening ceremony of the Commonwealth Games in Glasgow
last year. The marshmallow, chocolate and biscuit creations
feature among the company’s iconic products, alongside
Caramel Wafers, Snowballs and Caramel Logs. Founded in 1890
when Thomas Tunnock bought a baker’s shop in Glasgow, today
the company exports to 40 countries and made profits of £6.2m
in 2014. Managing director Boyd Tunnock, 82, is the founder’s
grandson.
Mike Edwards, 66, is the fourth generation to run the business
Founded in 1925, Edwards is a family-owned tour operator and
coach hire business based near Pontypridd in South Wales. Its
fleet of 230 coaches drives 7,000 children to school each day
and 80,000 people on holiday every year. Mike Edwards, 66,
is the fourth generation to run the business, which he does
with the support of his children. The installation of GPS driver
monitoring systems has helped improve fuel efficiency, and
profits rose to £3.1m last year.
compound annual growth rate between 2010/11 and 2013/14
© 2015 Profit Track 100
* Pro-forma or draft
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
14
Well-known brands
Household names that feature on the league table include
bet365 (No 61) for the fourth time; Tunnock’s (No 26) for the
third time; The Gym (No 25), Addison Lee (No 35) and The White
Company (No 95) for the second time.
Founder Shaun Pulfrey of Tangle Teezer (No 14) counts
Victoria Beckham and Rihanna as fans of its hair products.
Tangle Teezer
14
Hair products supplier
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
19
South London
Mar 14
93.64%
£4.3m
£0.6m
£14.4m
15
Hairdresser Shaun Pulfrey, 53, had to remortgage his flat to
fund the development of an innovative hairbrush to untangle
his clients’ hair. Rejected by the Dragons’ Den tycoons when
he pitched his Tangle Teezer in 2007, Pulfrey then clinched a
deal in 2008 to stock the brush in Boots. Today the hairstyling
phenomenon is exported to more than 110 countries, helping
profits reach £4.3m last year.
Its varieties of doughnuts are found at more than 500 Tesco
stores and service stations
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
The UK franchise owner of the Krispy Kreme brand opened its first
British outlet in Harrods in 2003. It has since opened another 50
stores, while its 16 varieties of doughnuts – all made daily to a secret
recipe – are also sold in more than 500 Tesco stores and service
stations. Haven Burke founded the Surrey-based retailer after
securing the franchise agreement from Krispy Kreme Doughnuts Inc,
before Alcuin Capital and Indigo Capital acquired a majority stake for
an undisclosed sum in 2011. Under chief executive Mike Dowell, 59,
the company made a £6.2m profit last year.
Surrey
Feb 14
84.49%
£6.2m
£1.0m
£52.4m
1,037
The White Company
Has 53 stores in the UK and 13 franchises in the Middle East,
and launched a US website last year
Location
FYE
CAGR§
Latest profits
Base profits
Latest sales
Employees
The White Company sells predominantly white bed and
bathroom linen, fashion and accessories. Founded by Chrissie
Rucker, 46, in 1994, when she struggled to find high-quality,
affordable white bed linen and tableware, the chain now
comprise 53 UK stores and 13 franchises across Dubai and
the Middle East. Chief executive Will Kernan, 45, launched a US
website last year and nine new stores, which helped profits rise
to £6.5m.
Home accessories retailer
§
Its famous fans include Victoria Beckham and Rihanna
Krispy Kreme
Doughnut retailer & wholesaler
95
The league table also features new entrants such as money.co.uk
(No 2), Skyscanner (No 3), Childrensalon (No 10), Tangle Teezer
(No 14), Krispy Kreme (No 19), Loake (No 68), Zaha Hadid (No 80)
and Victoria Plumb (No 81).
West London
Mar 14
44.37%
£6.5m
£2.2m
£143.8m
1,113
compound annual growth rate between 2010/11 and 2013/14
© 2015 Profit Track 100
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
15
2015 Profit Track 100 LEAGUE TABLE
Rank Rank Company
2015 2014 Activity
HQ location
The Hut Group
Online retailer
Northwich
2
money.co.uk
Price comparison website
3
Skyscanner
Travel search engine
1
1
3yr average
annual
profit
FYE
growth
Latest
profits
£000
Latest
sales
£000 Staff Comment
216.58% *15,959 *248,000 1,049
Private equity firm KKR paid £100m for a
20% stake in the group last year
Gloucestershire Oct 13
148.60%
10,724
16,365
20
Chris Morling taught himself to code
websites in order to start the business
Edinburgh
Dec 13
139.87%
17,736
65,819
377
Thomsons Online Benefits
Central London Dec 13
Employee benefits software developer
127.12%
8,259
36,732
336 Opened its first American office in 2013
Dec 14
Its app has been downloaded more than
30m times
4
5
5
32
Global Energy Group
Energy services provider
Inverness
Mar 14
124.79%
40,670
471,840 5,102
Sold a 25% stake in the group to giant
Japanese company Mitsui in 2012
6
9
Immediate Media Co
Magazine publisher
West London
Mar 14
122.02%
15,826
150,596
844
Paid £24m to acquire a cycling media
portfolio in July last year
7
Macdonald Humfrey
Technology systems integrator
Luton
Dec 13
111.32%
8,674
43,840
265
Counts most UK airports as well as Aston
Martin and Rolls-Royce as customers
8
Glass Recycling UK
Glass recycler
Barnsley
Sep 13
111.21%
6,327
20,165
9
Motor Fuel Group
Fuel retailer
St Albans
Dec 13
105.67%
4,473
239,143
19
10
Childrensalon
Childrenswear retailer
Tunbridge Wells Dec 14
100.35%
*5,663
*28,347
140
Stocks children’s clothes from 270 brands,
including Dior, Gucci and Burberry
11
Jato Dynamics
Motor industry information
Harrow
Dec 13
98.30%
7,608
56,024
553
Provides automotive research covering 50
international markets
12
Ainscough Crane Hire
Crane hirer
Wigan
May 14
95.72%
17,530
116,202
983
Hires out more than 460 cranes from its
30 depots across Britain
Kirkwood Homes
Luxury housebuilder
Aberdeenshire
Mar 14
95.08%
6,891
38,980
140
Designs and builds luxury homes in
northeast Scotland
Tangle Teezer
Hair products supplier
South London
Mar 14
93.64%
4,286
14,413
15
Its famous fans include Victoria Beckham
and Rihanna
Abbey Forged Products
Steel products forger
Sheffield
Oct 13
90.99%
17,188
42,186
245
Has installed new forging hammers and
heat-treatment furnaces
Endava
IT services provider
Central London
Jun 14
90.38%
9,927
Centek
Devon
Oilfield equipment manufacturer
Oct 13
88.56%
18
Paultons Park
Theme park operator
Hampshire
Dec 13
19
Krispy Kreme
Doughnut retailer & wholesaler
Surrey
20
13
42
14
15
89
60 Has 7,000 bottle banks across Britain
Acquired 228 petrol stations when it
bought Murco in October
63,913 1,415
Signed a £50m deal to help publisher
Trinity Mirror shift from print to digital
14,825
37,077
223
Sells 97% of its products to overseas markets
including America and the Middle East
85.58%
6,735
20,301
338
Its Hampshire theme park has more than
60 attractions over 140 acres
Feb 14
84.49%
6,240
52,393 1,037
Riviera Travel
Travel agency
Burton-on-Trent Nov 13
82.73%
9,944
106,295
The Entertainer
Toy retailer
Buckinghamshire Feb 14
81.57%
6,843
106,771 1,197
Says it is the biggest independent toy
retailer in Britain, with 98 stores
22
Peter Vardy
Car dealer
Glasgow
Dec 13
81.17%
6,476
340,740
768
Donates 10% of annual profits to charity
through the Vardy Foundation
23
Huntswood
Customer service provider
Reading
Sep 14
81.02% *44,027 *250,135 1,379
Handles customer complaints for banks,
pension firms and insurance companies
24
Alexander Mann Solutions
Recruitment consultancy
Central London Dec 13
80.70%
19,030
617,400 1,759
Provides outsourcing and consulting
services to clients in more than 80 countries
The Gym
Gym operator
Central London Dec 14
79.30%
*8,351
*45,875
Opened 15 new gyms last year with a
further nine in the pipeline
16
17
21
25
7
88
16
Profits = operating profit
* Pro-forma or draft
© 2015 Profit Track 100
84
157
Its 16 varieties of doughnuts include
Chocolate Dreamcake and Caramel Crunch
Its escorted holidays and cruises carried
more than 100,000 passengers last year
† annualised figure
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
16
2015 Profit Track 100 LEAGUE TABLE
Rank Rank Company
2015 2014 Activity
HQ location
3yr average
annual
profit
FYE
growth
Latest
profits
£000
Latest
sales
£000
Staff Comment
Tunnock's
Biscuit & cake maker
Glasgow
Feb 14
78.14%
6,189
47,846
489
Was founded by Thomas Tunnock in 1890
after he paid £80 for a shop near Glasgow
27
Kebbell Homes
Estate developer
Watford
Dec 13
77.43%
4,106
28,127
50
Is building 1,300 homes on a development
south of Scarborough
28
Expro International
Oilfield services provider
Reading
Mar 14
75.95% 101,642
29
Edwards Coaches
Tour operator & coach hire
Pontypridd
Mar 14
75.78%
3,143
32,791
402
Its fleet of 230 coaches consume £15,000
of diesel every day
30
The Trade Centre Wales
Car supermarket
West Glamorgan Nov 14
75.02%
*5,581
*57,045
115
Plans to open a third car supermarket in
Cardiff later this year
31
Equal Experts
Software developer
Central London Mar 14
73.21%
3,040
23,315
200
Using private sector experience to help the
government with its digital strategy
32
The Edinburgh Woollen Mill
Clothing retailer
Dumfriesshire
Mar 14
72.87%
70,935
33
Story Contracting
Carlisle
Construction & civil engineering contractor
Mar 14
72.64%
5,505
52,404
309
Plans to recruit 40 staff this year after
securing £100m of work from Network Rail
34
Taziker Industrial
Industrial painter & scaffolder
Mar 14
72.07%
10,354
54,211
525
Has an annual contract for the specialist
painting of Jodrell Bank telescope
35
Addison Lee
Central London Aug 14
Minicab & courier services provider
71.61%
32,846
196,618
640
Its 5,000 minicabs transport more than
10m passengers each year in London
36
Silverline Tools
Tool distributor
Yeovil
Jul 13
69.30%
4,018
31,180
139
Supplies more than 5,000 hand and power
tools to 13,500 merchants and traders
Acorn Stairlifts
Stairlift manufacturer
West Yorkshire
Sep 13
68.15%
16,664
127,114
973
An Acorn Stairlift is installed somewhere in
the world every nine minutes
38
solarcentury
Solar technology developer
Central London Mar 14
67.48%
4,043
109,192
132
Installed 4,400 roof-mounted solar panels
on Blackfriars Bridge, crossing the Thames
39
Marshall Group
Engineering & motor retail
Cambridge
Dec 13
66.86%
24,177 1,292,522 4,498
Is based at Cambridge airport, which it also
owns and operates
40
Fine Industries
Custom chemical manufacturer
Middlesbrough
Sep 13
66.67%
6,912
41,022
275
Private equity firm NorthEdge Capital backed
a £53m management buyout in 2013
41
Totalstay
Travel services provider
North London
Dec 13
66.12%
†4,346
†27,778
190
Has opened regional offices in Sweden
and Romania
142,538
300
Helps clients to manage procurement
efficiently, saving some up to 40%
26
37
61
3
Bolton
42
79
IESA
Supply chain manager
Warrington
Mar 14
66.10%
3,416
43
44
GAP Group
Plant & tool hire
Glasgow
Mar 14
65.93%
14,793
874,923 5,823
551,904 10,290
Employs more than 5,400 people across
50 countries
Bought both Peacocks and Jane Norman
out of administration
118,400 1,049 Opened in 26 new locations in 2014
44
Randox Laboratories
County Antrim
Medical diagnostics manufacturer
Dec 13
65.31%
16,335
90,929
989
Each year 350m people are diagnosed
using one of its medical instruments
45
MON Motors Group
Car dealer
Cwmbran
Dec 13
64.52%
4,316
258,458
626
Has 10 showrooms in South Wales and
west England
46
Peter Duffy
Wakefield
Civil engineering & utility services
May 14
62.87%
4,629
38,275
484
Maintains sewage networks for Yorkshire
Water, Northumbrian and Welsh Water
47
288 Group
Coin & stamp distributor
Poole
Apr 14
61.99%
5,670
27,515
150
Its mainstay is stamps and coins, but it also
runs a babysitting website sitters.co.uk
48
City & Country
Housebuilder
Essex
Mar 14
61.88%
11,646
49,550
97
Specialises in the restoration and
conversion of historic and listed buildings
CV-Library
Online job site
Hampshire
Jun 14
60.62%
*6,275
*12,522
82
Launched its Resume Library job site in
America last year
BI Electrical Services
Electrical services provider
County Antrim
Dec 13
59.99%
3,918
16,442
47
Has expanded to provide electrical engineering
services in China and Saudi Arabia
49
50
19
Profits = operating profit
* Pro-forma or draft
© 2015 Profit Track 100
† annualised figure
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
17
2015 Profit Track 100 LEAGUE TABLE
Rank Rank Company
2015 2014 Activity
HQ location
3yr average
annual
profit
FYE
growth
Latest
profits
£000
Latest
sales
£000
Staff Comment
80,388
115
51
Strata Homes
Housebuilder & developer
Doncaster
Dec 13
59.41%
9,439
52
Senator International
Office furniture manufacturer
Lancashire
Dec 13
59.38%
7,956
53
Oliver Valvetek
Subsea valve manufacturer
Cheshire
Sep 14
58.13%
11,997
34,806
103
Its HQ houses a steam engine formerly
owned by cult TV presenter Fred Dibnah
54
Niftylift
Lift manufacturer
Milton Keynes
Dec 13
57.66%
3,888
62,022
283
Sells through a dealer network spanning
more than 40 countries
55
Leiths
Aberdeen
Construction materials manufacturer
Dec 13
57.22%
5,243
67,568
530
Did the road markings for street races at the
2014 Commonwealth Games in Glasgow
56
Lovering Foods
Food distributor
Surrey
Mar 14
55.55%
3,026
54,629
22
Tuna from Indonesia and water chestnuts
from China feature among its imports
57
L Lynch
Plant hirer & haulage
Northwest
London
Feb 14
55.06%
4,083
44,204
80
Its vehicles have been used to help build
the new 118km Crossrail railway line
58
G2V Recruitment Group
Recruitment consultancy
Central London Mar 14
54.36%
4,909
52,531
100
Plans to open another office in America
and one in the Far East
59
Principal Hayley
Hotel operator
Harrogate
Dec 13
53.89% *27,488 *160,982 3,039
Its hotel portfolio includes Hotel Russell in
London and The George in Edinburgh
60
Xeretec
Managed print service provider
Wokingham
Aug 14
53.83%
Says it is Xerox's largest partner and provider
of managed print services in Europe
61
bet365
Online bookmaker
Stoke-on-Trent
Mar 14
53.55% 317,030 1,370,887 2,875
62
CHP Consulting
IT consultancy
Central London Dec 13
53.48% †11,460
Audio Network
Online music publisher
Central London
Jun 14
52.74%
5,823
15,409
81
66,819
623
63
57
4,025
107,683 1,017
46,422
†33,106
207
The government's help-to-buy scheme has
helped to kick-start growth
Has offices in Holland, Dubai and a
manufacturing plant in Ohio, America
In 2014 it donated £105.5m to the
charitable bet365 Foundation
149 Has offices in Paris, Sydney and Detroit
Has a catalogue of 87,000 original music
tracks and 50,000 sound effects
64
Inflite
Stansted
Aerospace component manufacturer
Mar 14
52.49%
5,135
65
Clancy Docwra
Contractor & developer
Mar 14
52.42%
3,773
66
Tobermore Concrete Products County
Concrete products supplier
Londonderry
Apr 14
51.27%
3,052
22,745
67
Cambridge Education Group
Educational services provider
Cambridge
Aug 14
51.07%
8,732
90,580 1,092
68
Loake Brothers
Shoe manufacturer
Kettering
Feb 14
50.83%
†3,763
†23,224
139
The fifth generation family shoemaker still
uses the same factory it built in 1894
69
Mick George
St Ives
Earthworks, haulage & plant hirer
May 14
49.57%
5,334
54,202
359
Has expanded from a single tipper truck in
1978 to a fleet of more than 190 vehicles
70
Dams International
Office furniture maker
Knowsley
Sep 14
49.56%
3,650
30,070
209
Has more than 150,000 office furniture
items in stock at any one time
71
Sequel Business Solutions
Insurance software
Central London
Jun 14
49.35%
*6,735
*17,935
114
Private equity house HgCapital invested last
year to accelerate its software development
72
ANS Group
Hosting services provider
Manchester
Mar 14
48.86%
4,245
47,298
164
Was listed on the stock market from 2000
to 2011, when it was taken private again
73
GatenbySanderson
Executive recruiter
West Yorkshire
Dec 13
48.79%
3,300
24,494
65
Says it places 40% of all permanent and
interim executives into central government
74
Universal Meats
Meat distributor
Kent
Mar 14
48.77%
5,280
121,721
18
Imports its meat predominantly from the
Continent, South America and the Far East
75
Blaze Signs
Retail sign manufacturer
Kent
Mar 14
48.45%
4,664
31,284
286
Used 52 tonnes of steelwork to make signs for
the Olympic Park for London's 2012 games
Profits = operating profit
* Pro-forma or draft
© 2015 Profit Track 100
Uxbridge
269,527 2,040
150
Has five UK sites with 600,000 sq ft of
warehousing, equivalent to 10 football stadiums
Clients range from Transport for London,
to Scottish Power and Thames Water
Founded more than 70 years ago as a
sand and gravel business
Attracts students from more than 95
countries
† annualised figure
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
18
2015 Profit Track 100 LEAGUE TABLE
Rank Rank Company
2015 2014 Activity
76
PDG Helicopters
Helicopter fleet operator
77
HQ location
3yr average
annual
profit
FYE
growth
Latest
profits
£000
Latest
sales
£000
Staff Comment
Sep 14
48.35%
3,570
15,620
88
Registers 10,000 hours of flight time every
year from its four UK bases
The Genuine Gemstone Company
Worcestershire
Home shopping jewellery retailer
Mar 14
48.26%
3,214
99,592
579
The co-founders starred in an ITV documentary
about the business, shown last year
78
Callcredit Information Group
Leeds
Consumer data analyst
Dec 13
47.78%
26,117
79
Design Bridge
Brand design agency
Central London Dec 13
47.48%
3,377
35,447
350
Has 350 staff speaking 30 languages in
London, Amsterdam, Singapore and New York
80
Zaha Hadid
Architect
Central London
Apr 14
47.37%
5,852
47,570
418
The Middle East is this architectural
practice's biggest market
81
Victoria Plumb
Online bath equipment retailer
Hull
Feb 14
47.21%
12,027
53,785
100
Private equity firm TPG Capital backed a
£200m buyout in April last year
82
Brompton Bicycle
Bicycle manufacturer
West London
Mar 14
47.02%
3,457
27,198
200
Operates a bike hire scheme, with 40
docking stations in 20 UK cities
83
FloPlast
Plastic materials manufacturer
Kent
Dec 13
46.64%
4,163
49,959
185
Distributes its plastic building and plumbing
systems to more than 25 countries
84
UKFast
Internet hosting provider
Manchester
Dec 14
46.33% *11,000
*28,900
85
XLN Business Services
Business services provider
Central London Mar 14
46.21%
12,760
63,778
254
86
GT Group
Precision engineer
County Durham Oct 13
46.13%
5,103
33,976
266 Sells to more than 50 countries
87
Story Homes
Housebuilder
Carlisle
45.74%
6,277
47,891
141
88 100
Leisure Pass Group
Tourism smartcard developer
Central London Dec 14
45.47% *14,930
*61,602
16
2m visitors have used this firm's smartcards to
get into more than 60 attractions in London
89
Advanced Insulation
Gloucester
Insulation products manufacturer
Sep 14
45.26%
43,998
228
Private equity firm Growth Capital Partners
acquired a minority stake in March last year
90
Alliance Medical
Diagnostic imaging services
Warwick
Mar 14
45.23% *24,200 *210,200 1,417
Claims to operate the largest fleet of
mobile medical scanners in Britain
91
Nimax Theatres
Theatre management
Central London Sep 13
45.09%
5,574
Paid £21m in 2012 to acquire the Palace
theatre from Andrew Lloyd Webber
Control Risks
Risk management consultancy
Central London Mar 14
44.88%
21,770
92
45
Inverness
Mar 14
9,040
125,764 1,044
16,434
Private equity firm GTCR paid a reported
£480m to acquire the group last year
200 Its customers include Kellogg’s and UKTV
251
218,237 2,544
Last year, private equity firm Blackstone
backed a secondary MBO worth £150m
The housebuilder completed on 251
properties last year, up 67% on 2013
Is experiencing strong demand for its
services in Iraq
93
Captec
Hampshire
Specialist computer manufacturer
Dec 13
44.86%
4,061
16,106
77
94
Osprey Maritime
Maritime freight transport
Bristol
Mar 14
44.42%
3,505
14,745
23 Clients include Siemens and GE Energy
95
The White Company
Home accessories retailer
West London
Mar 14
44.37%
6,505
96
CALA Group
Builder
Edinburgh
Jun 14
44.28%
97
Nexus Industries
Telford
Electrical products manufacturer
Dec 14
Alexander Dennis
Bus & coach manufacturer
Falkirk
98
99
100
81
Has said it plans to list on the stock market
by 2018
143,780 1,113
Opened nine new stores and its American
website last year
37,754
285,438
Expects to treble pre-acquisition 2014
sales of £236m by 2016
44.12%
*7,909
*82,260 1,536
Manufactures all electrical products at its
factory in China
Dec 13
43.98%
29,013
541,082 2,464
Is opening a factory in Ontario after winning
a deal to supply 250 buses to the area
Thwaites
Dumper truck manufacturer
Leamington Spa Aug 13
42.85%
3,970
35,552
154
Makes articulated dumper trucks capable of
carrying up to 10 tonnes
Reynolds
Food distributor
Hertfordshire
42.54%
3,009
178,512
694
Delivers more than 3,000 orders every day to
restaurants, pubs and hotels across Britain
Profits = operating profit
* Pro-forma or draft
© 2015 Profit Track 100
Dec 13
642
† annualised figure
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
19
Ones to Recognise
BEST OF THE REST
In addition to the 100 companies featured in the Profit Track 100,
Fast Track also researches a cross section of companies that for one
reason or another do not qualify for the main table, but deserve to be
acknowledged.
Ones to Recognise showcases
a cross section of companies
that do not qualify for this
year’s Profit Track 100, but
have either had, or predict,
good profit growth.
Ten finalists are chosen to feature in ‘Ones to ‘Recognise’. Companies
are selected partly on historical profit growth, but also on the strength
of their management team, innovation, challenges overcome and their
potential for future growth.
This year's finalists are detailed below.
Company
HQ location
Year
end
Profits
£000
Sales
£000
Gtech
Household appliance
manufacturer
Staff Founded Short profile
Worcestershire
Nov 14
*6,500
*47,500
65
2001
In a highly competitive market, it has sold more than
400,000 of its corldless and lightweight AirRam vacuums,
and expects to double profits this year to £12m
Gymbox
Gym operator
Central London
Oct 14
2,361
9,851
60
2001
Its seven distinctive nightclub-style London gyms have
18,000 loyal members. Last year it secured £10m
from Business Growth Fund to pay for four new gyms
Mark Allen Group
Business & education publisher
Central London
Mar 14
2,302
18,982
150
1985
It publishes a portfolio of 62 trade and consumer
magazines and websites, including Nursery World and
PrintWeek, and has diversified into events and exhibitions
Orangebox
Office furniture manufacturer
Cardiff
Dec 14
*5,289
*48,677
360
1998
Designs and makes high-end bespoke chairs, sofas
and meeting room pods in Cardiff and Huddersfield,
to furnish offices for blue chip companies
Quorn
Food manufacturer
North Yorkshire
Dec 14
*19,633
*150,300
614
1985
Since a £205m private equity-backed buyout in 2011,
it has invested in its Yorkshire plant, new products
and marketing to generate double digit profit margins
San Carlo
Restaurant operator
Birmingham
Sep 14
*2,198
*39,365
720
1992
Run by a father and son team, it operates 15
Italian restaurants in UK cities under brands such
as Fumo and Cichetti
Victoria + Albert Baths
Luxury bath manufacturer
Telford
Jun 14
*5,087
*19,655
285
1996
Founder Chris Davies paid one rand in 1996 to buy a
South African factory, which he has grown into a luxury
bath business making profits of £5m, mostly from exports
William Reed Business Media
Crawley
Trade journal publisher
Mar 14
*2,384
*43,143
340
1861
This fifth generation family business is famous for
publishing The Grocer, but has successfully diversified
into digital brands as well as events and exhibitions
X-Cel Superturn
Precision engineer
Sheffield
Mar 14
3,902
23,484
138
1984
Exports Yorkshire-made components to markets
including Brazil, Asia and the US, and has grown by
acquiring and turning around poorly performing firms
Yours Clothing
Plus size clothing retailer
Peterborough
Feb 14
2,708
32,098
445
1994
Plans to open one new store every two weeks in
2015 selling its plus-sized clothing, 30% of which
is made in the UK, and expects to nearly double
* Pro-forma or draft
© 2015 Profit Track 100
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
20
METHODOLOGY
Qualification criteria
Companies were ranked on their average compound annual growth
rate (CAGR) in operating profits over three years, from either 2010 to
2013 or 2011 to 2014, depending on their latest available financials.
In previous Profit Track 100 league tables, Fast Track added back
directors’ remuneration, but has decided to simplify the profit
measure it uses for 2015 and future years.
Of the 100 companies in the league table, 38 had financial years
ending in 2013, and 62 had financial years ending in 2014.
Qualification criteria also included:
• UK registered, unquoted and independent
• 2010/11 operating profits of more than £500,000
• 2013/14 operating profits of more than £3m
• Operating profits must increase in the latest year, from 2012 to
2013, or 2013 to 2014
• Profits accrued from joint ventures, exceptional costs or income,
as well as impairment, were excluded
Research approach
The main research was conducted by Fast Track between
November 2014 and February 2015.
Companies were selected from a database of 2m private limited UK
companies after extensive desk and telephone research.
The majority of the companies in the league table were interviewed
by telephone, and visited by the Fast Track research team.
© 2015 Profit Track 100
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
21
SPONSORS & MEDIA PARTNER
Fast Track would particularly like to thank the title sponsor
of Profit Track 100, BDO, for sponsoring the league table for
the second year; and our other main sponsors, Lloyds Bank
Commercial Banking and UBS Wealth Management who have
sponsored the table for the past thirteen years.
The sponsors do not endorse, guarantee or recommend
investment in any of the companies.
Sponsors
BDO is the title sponsor of Profit Track 100 for a second year.
Stuart Lisle
Partner, Corporate
Tax Services
BDO provides assurance, tax and advisory services to
organisations across a number of sectors throughout the UK.
With the BDO global network present in over 140 countries,
we can help businesses realise both their domestic and
international growth ambitions. We pride ourselves on our
collaborative approach and our commitment to exceptional
client service and are delighted that BDO has the highest client
satisfaction scores among its peers for the third year in a row*.
*
Research undertaken by Meridian West (Mid-Market Monitor 2014)
www.bdo.co.uk
Lloyds Bank Commercial Banking is a main sponsor of
Profit Track 100 for a 13th year.
Tim Hinton
Managing Director,
SME & mid-markets
Lloyds Bank Commercial Banking delivers corporate banking and
financial services to businesses. Our continued association with
the Profit Track 100 demonstrates our commitment to helping
brilliant British businesses succeed.
www.lloydsbankcommercial.com
© 2015 Profit Track 100
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
22
UBS is a main sponsor of Profit Track 100 for a 13th year.
Michael Bishop
Managing Director
UBS provides a complete wealth management service in the
UK. We have a long history of working with UK entrepreneurs
planning their business, family and investment needs as they
approach a liquidity event. Our advisors will help you learn how
to protect and grow your hard-earned wealth drawing on the
strength of our Global Chief Investment Office. Whether you want
to leave money in trust for your children, sort out your pension
arrangements or increasingly, become a philanthropist, we can
help you achieve your goals.
www.ubs.com/wealthmanagement-uk
Media partner
The Sunday Times has been Fast Track's media partner for all
18 years.
Dominic O'Connell
Business editor
The Sunday Times is Britain’s No 1 newspaper for business, and
the leading broadsheet newspaper attracting over three million
readers every week. More than half (54%) of the business elite
read The Sunday Times, a greater market share than any other
publication, according to the latest Ipsos survey. The Sunday Times
business section celebrated its 50th anniversary last year.
www.thesundaytimes.co.uk
© 2013
2015 Profit
Fast Track
Track100
100
www.fasttrack.co.uk
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
23
about fast track
Compiler & publisher
Hamish Stevenson owns and runs Fast Track which he
founded in 1997 after securing cornerstone sponsorship from
Richard Branson.
He is an associate fellow at Green Templeton College, Oxford
University, where he completed his masters and doctorate and
held the Virgin research fellowship in entrepreneurship.
The authors
Richard Tyler leads Fast Track’s research and editorial, working
closely with sponsors and companies within our network.
He was the enterprise editor of The Daily and Sunday Telegraph
for nine years, covering private companies and government
policy towards business. He trained in journalism at Euromoney,
part of The Daily Mail & General Trust, after completing his
degree at Manchester University.
Mike Harding is responsible for managing the Profit Track 100
research. He trained as a chartered accountant with Grant
Thornton (Oxford), and has an audit and corporate finance
background. More recently he worked as a finance manager
for Unipart. He has a degree in mathematics from Birmingham
University.
© 2015 Profit Track 100
www.fasttrack.co.uk
Profit Track 100 Research Report 2015
24
Fast Track
Profit Track 100 is compiled by Fast Track, the UK's leading faceto-face networking events and research company, which ranks
top-performing private companies and entrepreneurs.
Fast Track has compiled league tables on private companies in
partnership with The Sunday Times for the last eighteen years.
It publishes six other annual league table awards programmes:
SME Export Track 100 ranks Britain's private SMEs with the
fastest-growing international sales
Tech Track 100 ranks Britain's private technology (TMT)
companies with the fastest-growing sales Fast Track 100 ranks Britain’s private companies with the
fastest-growing sales (excluding tech companies)
International Track 200 ranks Britain's mid-market private
companies with the fastest-growing international sales
Top Track 250 ranks Britain’s leading mid-market private
growth companies with the biggest sales (£130m to £650m)
Top Track 100 ranks Britain’s private companies with the
biggest sales (£650m to £22bn)
Fast Track is based in Oxford with 20 staff, and a network of
freelance researchers.
Contact details
Fast Track
Angel Court
81 St Clements Street
Oxford
OX4 1AW
© 2015 Profit Track 100
Tel: Fax: 01865 297 100
01865 297 001
Email:
Web:
twitter:
[email protected]
www.fasttrack.co.uk
@ST_FastTrack
www.fasttrack.co.uk