New research from accountants and business advisers BDO LLP has revealed Surrey and Sussex’s most profitable mid-sized companies have continued to forge ahead, reporting profit growth of 19% in the last year, despite tightening market conditions and the uncertainty surrounding the EU referendum.
The top 20 firms in each county featured in BDO’s Best in Business 2016 are ranked by compound annual operating profit (CAGR) growth over three accounting periods. Collectively they employ over 8500 people.
The best performing firm across both counties was Sussex-based Arun Estate Agencies Limited with CAGR of 159%, followed closely behind by Surrey-based Fileturn Holdings Limited. Three companies – Whelan & Grant (Holdings), Deutsche Leasing (UK) Limited and Broadway Malyan Holdings Limited – have maintained their performance by appearing in the list for the second year running.
Working for one of the top firms also pays dividends. The research identifies that each employee is on average £1,000 a year better off than employees at other mid-market companies, with average remuneration being £43,400; an increase of 5.7% on last year. A clear demonstration that successful company performance is flowing through to those that contribute towards it.
BDO’s analysis also highlights the continuing importance of medium-sized businesses to both counties, being home to 583 companies each with a turnover between £10m-£300m. In total the
firms employ more than 172,000 people, and pay out £5.5bn in salaries each year from revenues of £31bn.
Manufacturing, real estate and construction, motor retail, technology and telecommunications, and transport and logistics companies all grace the top list, highlighting the broad expertise the counties possess.
Kevin Cook, partner at BDO LLP, said “Medium-sized businesses continue to thrive across the counties and have reported impressive results for the last year. They have remained focused on sustainable growth and vigilant to changing market conditions.
“2016 has provided an uncertain environment but we have tremendous talent and capability in each respective county and believe our mid-sized businesses will continue to build on a solid platform.”
