New research from accountants and business advisers BDO LLP has revealed Surrey’s top 20 most profitable mid-market companies have continued their post-recession revival, reporting profit growth of 34% in the last year.
The top 20 firms featured in BDO’s Surrey Best in Business 2015 are ranked by compound annual operating profit (CAGR) growth over a three year period. They employ 4,600 people and have combined profits of £99m compared to £73.6m the previous year.
The top performing company is Caterham-based North Atlantic Limited. Operating a fleet of freezer trawlers for the pelagic fishing industry, the firm has reported an annual growth rate of 102%.
Innovative technology firm Steljes in Bagshot ranks second in the list with almost 90% profit growth in the last three years, followed by Whelan & Grant, the reinforced concrete specialists based in Walton on Thames, with 49%.
The BDO analysis highlights the importance of medium-sized businesses to the local economy, with Surrey being home to 331 companies with a turnover between £10m-£300m. In total these firms employ more than 100,000 people, and pay out £3bn in salaries each year from revenues of £19.2bn.
Manufacturing, real estate and construction, technology, leisure and services companies all grace the top 20 list, highlighting the broad-based recovery the county is experiencing with businesses across all sectors thriving.
Two care homes – The Graham Care Group and Oldercare (Haslemere) Limited – also featured in the top ten.
Life and pensions software business Aquila Group, which provides software solutions to UK and international clients from its Redhill headquarters, has profits of more than £21m – the highest in the top 20.
Kevin Cook, partner at BDO LLP in Guildford said: “Medium-sized businesses in Surrey and across the UK are thriving. Our newly-named ‘Brittelstand’ has outgrown the German ‘Mittelstand’ with mid-market businesses seizing the opportunities a growing economy presents.
“Surrey’s best performing companies have remained focused on sustainable growth by making intelligent investment decisions in innovation, while managing the bottom line effectively. In order to continue driving profits, firms in the region need to push forward with international opportunities that will allow us to compete on a world stage.”
