- Top 50 companies generate £16.8bn in revenues, up 23% on the previous year
- Toy manufacturers Golden Bear Products Limited show the highest average growth
- Over 22% of the top 50 fall within the manufacturing sector
The 50 fastest growing companies in Shropshire have contributed £1.68bn in revenues in the latest year, a 23% increase on the previous year according to the Shropshire Growth Barometer published today by accountancy and advisory firm BDO LLP.
The top 50 list measures the average turnover growth of companies in the region, and the report also identifies the fastest growing sectors based on turnover and job creation.
Coming at the top of the list with an impressive 140% average growth over the last three years is Golden Bear Products, which has been manufacturing children’s toys in the region for more than 35 years.
In terms of sector growth, whilst the largest proportion of companies in the list falls into the manufacturing sector (11 of the top 50), the fastest growing sector by turnover is hospitality and leisure. This can be attributed in large part to the growth seen by Shrewsbury Town Football Club, which has experienced 39% growth (from £3,768,000 to £6,860,000) during the last three years.
Automotive businesses in Shropshire have also performed well. With strong growth from companies such as Greenhous (number three in the top 50) and JP Arthurs and Sons (number nine), the sector overall has seen an average growth rate of 27% during the last three years.
This is closely followed by the food and drink sector, which reported growth of 25%. Evolution Foods and Allfresch Group ranked fourth and eleventh respectively in the top 50.
With regards to job creation, the environmental services sector tops the list with 47% average growth thanks to Reconomy (UK) Limited and Select Holdings (UK) Limited.
David Pooler, a partner at BDO and author of the Shropshire Growth Barometer is pleased to see the county’s businesses being recognised for their achievements.
He said: “For those of us who live and work in Shropshire, it is fantastic to see the business achievements of the county recognised. The fast-growth businesses in Shropshire are extremely diverse and geographically spread out, ranging from football clubs to technology companies to manufacturers of toys. It has been very interesting for us to analyse our data to get a deeper understanding of where the growth in the region lies and in which areas there may be challenges.”
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