Top 50 profits rise by over a third in a year

Tunstall Healthcare was a notable absentee from the Top 25 by pre-tax profits.
Tunstall Healthcare was a notable absentee from the Top 25 by pre-tax profits.
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The region’s 50 top manufacturers have posted an impressive 36.7 per cent leap in pre-tax profits from £155m to £239m in the last year.

Greencore, based in Chesterfield, tops the table with £126.5m - more than half the total.

Highest capacity mobile sizer in the world' designed and manufactured by Mining Machinery Developments to process 9,000 tonnes per hour of material.

Highest capacity mobile sizer in the world' designed and manufactured by Mining Machinery Developments to process 9,000 tonnes per hour of material.

Second is Retford vehicle maintenance and repair company Langley, with £76m. Doncaster’s Polypipe is third with £36.4m.

Notable by its absence is Tunstall Healthcare Group which made a statutory loss of £123m - the biggest by a long way.

But there is more to this than meets the eye.

A spokesman for the company said the company actually made £52.7m before interest, taxes, depreciation, and amortization and it continued to be a “profitable and cash generating” business.

The firm, which employs 2,912, is owned by Charterhouse Capital Partners, which says the loss came after financing costs which were the most efficient way to structure the business.

Such a figure would place it third in the table of the region’s most profitable companies - and take the combined total to 291.7m.

Chief financial officer Shaun Parker said the position presented in the statutory accounts - shown in today’s table - was typical of private equity-owned businesses.

“The group’s capital structure is efficient for our shareholders, however this does lead to a reported loss. The true measure of Tunstall’s value to our current shareholders and any potential future investors is our EBITDA performance and the resulting cash generation.”

The company was founded in Askern near Doncaster in 1957. In 1966 it created the world’s first warden intercom system.

Today it is the world’s leading provider of telehealthcare systems, operating in more than 40 countries.

It reported 21 per cent revenue growth in 2013 to £221m. It has 2,912 staff and says its products ‘protect and empower’ 2.5m people. This year’s results are due to be published in October.

Mining Machinery Developments, based in Summercotes, Derbyshire, near junction 28 of the M1, reported £8.7m pre-tax profit on a turnover of £75m. It was ninth in the region for profits and 33rd on the Top 50 turnover table.

MMD employs 225 making mineral processing equipment. It is famed for its patented rock ‘sizer’ which uses a shearing action to chop through massive boulders.

It also makes a feeder big enough to withstand a 9ftx9ft boulder being dropped on it from height and it is a leader in making ‘in pit’ sizing and conveying equipment installed at, or close to, mine faces.

MMD is part of a group of companies which employ 500 worldwide in total. A new factory has just been completed in Australia. Another is being built in India.

Sheffield chemicals specialist GRI Group is a profits table regular. It made £4.2m on £103.2m turn over and has 150 employees. Founded and run by Graham Royle, it has connections worldwide.

Recently it sold Belgian subsidiary TensaChem for £13.9m to Kuala Lumpur Kepong Berhad, of Malaysia.