Tuesday, May 3, 2016

News: Rotherham firms flying the flag

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Leading Rotherham companies are amongst the mid-market firms that are driving growth in the region, according to the Yorkshire Report 2016, published by accountancy and business advisory firm BDO LLP.

Illustrating trends in the financial performance of selected companies, the report highlights that mid-market companies in Yorkshire created 21,000 new jobs last year. Turnover was up 4% to £106.2bn compared to 6.9% the previous year but overseas turnover saw a worrying 11% drop compared to a 7.7% increase the previous year. Operating profits were up 8% to £4.8bn.

The report analyses the financial performance of the top 250 companies by turnover in the Yorkshire region. Analysis is split between the 50 largest organisations and the next 200 mid-market businesses.

Mid-market companies are driving the growth in the region with the top 200 companies vastly outperforming the largest 50 firms. Their profitability soared by 200% to £861m, based on a 10% increase to £24.4bn in turnover. The top 50 managed just a 2% increase in turnover.

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Jason Whitworth, M&A partner at BDO in Yorkshire, described the mid-market firms as "Yorkshire's unsung heroes." He added: "Whilst there are many bright spots for businesses, there's no denying we continue to face challenging and uncertain times. However, businesses should not allow this to curb their ambitions and we should all pull together to grasp today's opportunities that could deliver significant growth in the future.

"What emerges from this year's Yorkshire Report is a picture of a bustling ecosystem that is well placed to take advantage of the opportunities presented by devolution. However the challenge remains that both politicians and business leaders need to unite to ensure that those opportunities are not missed, so that the region can continue to play its part in the Northern Powerhouse."

50 of the 250 where from South Yorkshire, which had a collective operating profit of £479m.

Rotherham firms in the Top 250:

- A.E.S. Engineering Limited, the parent company of award-winning Templeborough manufacturer, AESSEAL
- AMG Superalloys UK Limited, hi-spec metals manufacturer formerly known as London & Scandinavian Metallurgical Co Limited (LSM)
- ASD Limited, leading lighting manufacturer based on Barbot Hall Industrial Estate
- Falcon Capital Investments Limited, an investor and operator of care homes with a turnover of £61.8m, registered to an address in Masbrough
- Jeld-Wen UK Limited, one of the world's leading manufacturers and distributors of windows, doors and stairs
- Maplin Electronics Limited, Manvers-based retailer whose latest yearly sales figure climbed 6.3% to £237m
- New York Bakery Company Limited, operates the largest bagel production facility in Europe, based at Swinton
- Nicholas Associates, fast-growing industrial and commercial recruiter that is aiming for a £200m turnover within five years
- Schaeffler Automotive Aftermarket (UK) Limited, based at Waleswood, the global integrated automotive and industrial supplier includes leading brand, LuK
- SVM Global Limited, Parkgate firm that is the largest reseller and distributor of corporate gift cards, E-vouchers and gift vouchers in the B2B and the corporate gifting market
- T.H.S. Tools Limited, the Templeborough-based tool wholesaler is the UK's largest buying group for independent industrial distributors

Pictured is a flag-raising ceremony to celebrate AESSEAL securing the Queen's Award for Enterprise: Innovation 2016.

BDO website

Images: AESSEAL

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