Monday, October 12, 2015

News: Maplin makes mid-market top 250


Rotherham-based retailer, Maplin has been named in the 11th annual 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 and Barclays, 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 218 stores. Oliver Meakin has recently been appointed as the new CEO of the firm that was sold for £85m to new owners, Rutland Partners in 2014.

The latest yearly sales figure climbed 6.3% to £237m and marks six consecutive quarters of positive growth. It is up up from £100m when Montagu Private Equity acquired the business in 2004. Much of Maplin's growth has been fuelled by changes to its online and fulfilment offering, with web sales up 20.6% compared to one year before to represent more than 10% of total sales. Underlying EBITDA (earnings before taxes) in the year to March 21 2015 was flat at £18.3m.

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.

The sales figures place Maplin at 111th on the list and is the first time the company has made it into the Top 250 since 2011. It joins the likes of Nando's Chelsea Football Club and Travelodge.

Andy Wood, Partner at Grant Thornton UK LLP, the title sponsor of the league table, said: "It's inspiring to see such a diverse range of businesses creating growth opportunities both at home and abroad and positively contributing to the UK economy.

"The fact that over half of the Top Track 250 businesses are headquartered outside of London and the southeast speaks to the growing influence of the UK's regional business hubs and the opportunity these present in the creation of a more vibrant UK economy, where business and people can thrive."

Award-winning Rotherham manufacturer, AESSEAL, dropped out of the league table having posted a small decrease in sales. AES Engineering Ltd, parent to the AESSEAL Group, reported its annual results for the year to December 31 2014 which showed sales of £142m down 3.1% on 2013's £146.5m. EBITDA (Earnings before taxes) rose to £25.2m, up 6% on 2013.

Maplin website

Images: LSH


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