The annual Sunday Times BDO Profit Track 100 league table which ranks Britain’s private companies with the fastest-growing profits over three years sees eight Scottish companies appear on the list.
The eight companies headquartered in Scotland (the same number as last year) include seven new entrants to the league table. They have made a strong contribution to the country’s economy. Together they employ 8,200 staff and have achieved combined profits of £76m.
Among the new entrants is Glasgow-based Di Maggio’s. Since starting in 1983, this family-owned restaurant has expanded to 18 family-friendly restaurants and five food court outlets. Profits grew by an average of 89% a year to £6m in 2016, and plans to open two Café Andaluz restaurants later this year.
Stirling-based Castle View joins the league table after featuring as a ‘Ones to Recognise’ in 2016. As well as managing 150 leisure facilities for more than 50 local authorities, the conglomerate also has a division making own-branded pizzas for supermarkets and another providing catering management software for NHS trusts and local authorities. Profits grew by an average of 66% a year to £10m in 2016.
The companies in Scotland appear with businesses from around the UK, including domestic appliance designer Gtech, bottled drinks manufacturer Radnor Hills and gym operator PureGym. The companies have achieved a higher average rate of profit growth (83%) than any previous Profit Track 100 league table, which have typically ranged from 50%-75% pa. The minimum rate of profit growth to secure a place has also risen to 57% pa – annual growth in the mid-40s has typically been sufficient to feature on previous tables.
The league table and awards programme is sponsored by BDO and UBS Wealth Management, and is compiled by Fast Track, the Oxford-based research and networking events firm.
Martin Gill, partner and head of Scotland at BDO, the title sponsor of the league table, commented:
“High-growth, mid-sized businesses played a leading role in the UK economic recovery after the global financial crisis. With Brexit and more uncertainty looming, it is companies like these with their natural energy, ambition and entrepreneurial spirit that will help the UK economy thrive. By supporting their growth, government would also be helping to achieve a more regionally balanced economy that ‘works for all’.”
Scotland’s private companies with the fastest-growing profits – ordered by county, and then rank
|Annual profit growth over 3 years||Latest profits, £m ‡||Staff||Year end||Comment|
Polymer engineer and manufacturer
|101%||33||576||Mar 16||Demand from offshore oilfields in Brazil and West Africa are sustaining profits|
Out-of-hours vet surgeries
|76%||4||1,103||Mar 16||Says it treats about 100,000 small animals every year|
|89%||6||784||May 16||Plans to open two new Café Andaluz restaurants later this year|
|75%||4||233||Jan 16||Invested £10m last year in new plant machinery and equipment|
|68%||6||207||Dec 15||Fitted out the ‘super-VIP’ bathrooms at BBC Television Centre in Broadcasting House|
|57%||8||207||Apr 16||The average age of its equipment is 22 months|
|88%||6||308||Jun 16||Chief executive Chris Gauld led a buyout backed by Limerston Capital last August|
Leisure services manager
|66%||10||4,746||Mar 16||Runs more than 150 leisure facilities for 50 local authorities|
‡ Profits = operating profit before exceptional items