Fastest-growing South West mid-sized firms ranked
Mid-sized businesses in the South West have been named among some of the fastest growing in the UK, according to a new report by banking and asset management group Investec.
The inaugural Investec Mid-Market 100, prepared in conjunction with DueDil, has ranked the UK's fastest growing private companies. The list will be updated twice a year to showcase the strength of Britain's mid-market.
The South West was named the joint-strongest region outside of London and the South East, and accounted for 11 per cent of the ranking along with the Midlands.
Businesses ranging from poultry farmers to car dealers are among those based in the South West which have made it into the top 100.
Conway Bailey Transport, a Cornwall freight transport group, is the highest placed company in the region at fourth with a turnover of £14m. Swindon-based furniture retailer JB Global sits at fifth with sales of £145.5m and pet insurer Animal Friends Insurance Services was 14th with revenue of £11.7m.
Other South West companies were: MB Crocker, Ocean Automotive, Dairy Partners, Tithegrove, Redrock Consulting, The Bath Priory, Cornish Farm Dairy and Mitchell & Webber.
The 100 companies in the table collectively generated £4.85bn of revenue and £347m of profits in the past financial year. The list ranks active, UK-registered companies according to their four-year average compound annual growth rate, with a minimum annual turnover of £10m.
Ed Cottrell of Investec, said: "The UK mid-market contributes nearly £1trn of revenues annually and up to a quarter of private sector employment, and it is important that its contribution is understood and recognised. Through analysis such as the Investec Mid-Market 100, we hope to develop greater appreciation for this vital part of our economy.
"It is great to see mid-market growth coming from all four corners of the UK and across a broad range of industry sectors."