Leicestershire’s fastest-growing mid-sized businesses have generated combined revenues surpassing £2.1bn in their respective last reported financial year, achieving average growth of 23% across the previous two years, according to a report published today by accountancy and business advisory firm, BDO LLP.
C3 Construction – based in Thorpe Astley – tops the list with average revenue growth of 60% and more than doubling their turnover. Meanwhile, Joules Group has the largest turnover of the top 50, with revenues nearing £218m in its accounts ended May 2019. The business is the second largest employer within the region, currently employing more than 1,800 staff.
Other companies making the top five include: property developer JA Ball, C Walton which owns Bruntingthorpe which is home to various automotive activities and venues, civil engineers Esendee Holdings and manufacturer of aluminium casting components, Harrison Castings.
Leicestershire proves to be a bustling hub for the retail and wholesale sector boasting 18 businesses in the top 50 and tracking an average sector growth rate of 22%. Retail and wholesale was followed closely by companies in the manufacturing and industrial markets sectors which made up more than a quarter of the top 50 and achieved an average sector growth rate of 22%. Real estate and construction has experienced strong sector growth averaging 40%, attributable to just four companies within the top 50.
Vinod Patel is head of corporate finance-transaction services at BDO LLP in the East Midlands and led the report. Vinod said:
“Leicestershire has a wide range of companies that truly embody the diversity of the region. These are the businesses driving economic growth and leading ground-breaking discoveries. Businesses are investing and are themselves, invested in the county. Space Park Leicester is a true example of this as it is set to transform the regional economy by contributing £715m and 2,500 jobs once completed.
“My home county is also working hard at attracting a new generation of tourists and developing a strong cultural and leisure offer for residents, especially in the wake of the exhumation and reinternment of Richard III, and Leicester City Football Club winning the Premier League title in recent years. Both are a huge coup for the county and present us with the opportunity to create a stronger identity for Leicestershire in the UK and internationally.
“Meeting the businesses which feature in this report, the ambition to collaborate and drive combined future growth and prosperity for Leicestershire is clear. When this is combined with the huge opportunity around key sectors from retail to construction and manufacturing to life sciences – Leicestershire certainly has a strong future.”
The research has been released as part of BDO LLP’s series of Shires growth reports across the Midlands, which has seen the firm release growth indicators across Northamptonshire, Birmingham, the Black Country, Coventry and Warwickshire, Derbyshire, Nottinghamshire, Staffordshire, Worcestershire and Shropshire.
To see the Top 50 companies and read interviews with business leaders, download the report.
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