Eight Scottish companies on fastest-growing profit stars league table

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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

HQ location
and county
Rank

[2016 rank]

Company

Activity

Annual profit growth over 3 years Latest profits, £m ‡ Staff Year end Comment
Aberdeen
Aberdeenshire
14
[7]
Balmoral Group
Polymer engineer and manufacturer
101% 33 576 Mar 16 Demand from offshore oilfields in Brazil and West Africa are sustaining profits
Dunfermline
Fife
51 Vets Now
Out-of-hours vet surgeries
76% 4 1,103 Mar 16 Says it treats about 100,000 small animals every year
Glasgow
Lanarkshire
29 Di Maggio’s
Restaurant group
89% 6 784 May 16 Plans to open two new Café Andaluz restaurants later this year
Glasgow
Lanarkshire
59 AB2000
Plant hire
75% 4 233 Jan 16 Invested £10m last year in new plant machinery and equipment
Edinburgh
Lothian
81 Grant Westfield
Washroom manufacturer
68% 6 207 Dec 15 Fitted out the ‘super-VIP’ bathrooms at BBC Television Centre in Broadcasting House
Perth
Perthshire
98 Morris Leslie
Plant hire
57% 8 207 Apr 16 The average age of its equipment is 22 months
Selkirk
Scottish Borders
31 Spark Energy
Energy supplier
88% 6 308 Jun 16 Chief executive Chris Gauld led a buyout backed by Limerston Capital last August
Stirling
Stirlingshire
83 Castle View
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

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