Monday, October 3, 2016

News: Maplin rises in sales league table

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Rotherham-based retailer, Maplin has again been named in the Sunday Times Grant Thornton Top Track 250 league table that ranks the UK's private mid-market growth companies with the biggest sales.

The league table is the sister publication of Top Track 100, which identifies Britain's 100 private companies with the biggest sales. Top Track 250 ranks the 250 next biggest private companies, which qualify for the league table provided either sales or operating profits have increased by at least 10% in their latest available accounts. Sponsored by Grant Thornton, it is compiled by Fast Track, the Oxford-based networking events and research company, which champions the UK's top-performing private companies and entrepreneurs.

Manvers-based Maplin sells a range of products to tech-savvy hobbyists as well as general consumers and now operates from 217 stores. The firm was sold for £85m to new owners, Rutland Partners in 2014.

The company has climbed the rankings from 111th to 84th with sales of £237m for the year ending March 2015 - its strongest sales growth since 2008. Underlying EBITDA (earnings before taxes) in the year was flat at £18.3m.

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Launched by two technology enthusiasts in 1972 who were frustrated by the lack of good quality electronics components, Maplin Electronics became the experts' choice, with a reputation for the best product range and expertise. In 2008 they moved to a 220,000 sq ft state of the art distribution centre and head office at Brookfields Park in Rotherham.

In the 12 annual league table 26 companies headquartered in Yorkshire (compared to 25 last year) join the likes of Arsenal, Barbour, Dr Martens, Nando's, Skyscanner and Wagamama. The Yorkshire companies increased combined sales 14% to £5.8bn and operating profits 36% to £416m, and they employ more than 43,000 people.

Andy Wood, partner at Grant Thornton UK LLP, the title sponsor of the league table, said: "In the wake of the EU referendum it is more important than ever that businesses, and the public and the third sectors work together to help the UK to build on its strengths and ensure that the economy continues to grow. I am heartened to see how these businesses are embracing a collaborative approach to drive prosperity throughout the UK and wider society."

Maplin website

Images: Maplin


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