Sheffield has 19 of Yorkshire’s 150 biggest companies, with £6 billion in revenues and almost 25,000 employees, say accountants BDO.
The 19 companies recorded operating profits of £190m and have boosted growth prospects by investing almost £100m in property, plant and machinery in the reporting period.
Two Sheffield firms have also been named in the top 10 fastest growing in the region – Plusnet, whose revenues have increased by almost 25 per cent to £140m, and retailer Go Outdoors, which has grown 19 per cent to £170m.
Construction giant SIG UK continues to be Sheffield’s biggest company, generating revenues of £2.6bn and employing more than 10,000 people.
B.Braun Medical, a leading manufacturer and distributor of healthcare products based on Brookdale Road, has entered the top 150 for the first time this year.
Appearing for the second year running – having made the list for the first time last year – is Plusnet, scrap metal exporters Van Dalen UK and Fennel Acquisition Ltd, the owners of Fletchers Bakeries.
The analysis comes from the BDO Yorkshire Report 2014, now in its eighth year, which compiles the latest published accounts from Yorkshire’s largest 150 businesses based on revenue, analysing trends and acting as a barometer of health for the region.
Craig Burton, partner at BDO LLP in Sheffield, said: “There is an overwhelming feeling of confidence across the region and the figures in this year’s report show that Sheffield businesses have continued their fight for growth and are now reaping the rewards.”
According to the BDO report, Yorkshire’s largest 150 companies have increased revenues to £90.7bn (from £88.7bn last year) and boosted operating profits by 5 per cent to £4.56bn.
Having battened down the hatches since the recession started, the top 150 have also amassed more than £10.4bn cash in the bank. These ‘war chests’ have increased sharply by 22 per cent on last year’s figures, giving a surefire signal that mergers and acquisitions activity could flourish over the next few years.
Patrick Abel, M&A partner at BDO in Sheffield, added: “Having built up cash reserves, the challenge is for management teams to choose where to invest.”
The 19 Sheffield firms in the Yorkshire top 150
Henry Boot PLC
Arnold Laver & Co Holdings Ltd
Vasanta Group Holdings Ltd
ELG Haniel Metals Ltd
Insight Direct (UK) Ltd
LuK (UK) Ltd
Outokumpu Stainless Ltd
Jeld-Wen UK Ltd
Sheffield Forgemasters International Ltd
Gri Group Ltd
The Big Green Parcel Holding Co Ltd
Irwin Mitchell LLP
Van Dalen UK Holdings Ltd
Fennel Acquisition Ltd
B. Braun Medical Ltd