Sheffield's top SMEs post 77% profit rise in third year of growth

Sheffield's top 15 SMEs posted an impressive 77.2 per cent overall increase in profits this year.

Thursday, 8th November 2018, 6:16 am
Updated Thursday, 8th November 2018, 6:19 am
Mark Dransfield celebrates the first birthday of Fox Valley in Stocksbridge.

The list includes a stand-out performance by Dransfield Properties, which posted a 140 per cent increase from £2.7m to £6.6m. 

It was the biggest profit of any SME in the city.

The 21-strong outfit makes a success of moribund shopping centres, including the £50m Fox Valley redevelopment in Stocksbridge where it is based.

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Mark Dransfield said: 'Despite tough times on the High Street we believe we have the formula for town centre retail success.  

'Good architecture, reflecting the local area and a strong line up of national and independent retailers are key.' Its portfolio is worth £130m.

The figures are compiled by BHP Chartered Accountants. SMEs must have two of these criteria: fewer than 250 employees, less than £36m turnover and gross assets of less than £18m.

MHH Contracting, of Carlisle Street East, notched up a bigger growth in profit,183 per cent from £791,000 to £2.2m.

The firm, which employs 47, provides demolition, excavation, waste and recycling services and haulage and plant hire.

Another big mover was Clear Line Holdings which saw a 304 per cent growth in profits from £730,000 to £2.9m.

The company of Rawson Spring Way, Hillsborough, is a curtain walling and cladding specialist for blue chip clients including property agents and main contractors.

I Grunwerg, of Silversteel House, Rockingham St, in Sheffield city centre, did even better, with a huge 906 per cent profit increase from £327,000 to £3.3m this year.

The firm is a supplier of houseware and catering products.

But that wasn't the biggest growth in profits among Sheffield SMEs this year.

That honour falls to machine knife firm TGW (Holdings) which enjoyed a stellar 3,244 per cent increase, from a loss of £130,000 to £4.1m profit.

The figures will delight new owners, New York-based private equity firm Blue Wolf. It took control of the business, which has a factory on Downgate Drive, Brightside.

The Abbey Group suffered a fall in profits this year, down from £6.2m down to £2m.

But the firm, based in Beeley Wood, is forging ahead with plans for a £14m press building on a nearby site off Claywheels Lane.

Across Sheffield City Region, the Top 100 SMEs have seen an increase in profits, sales and staff numbers for the third year in a row.

Total overall profits are £220 million, up from £201m last year and £178m the year before.

Sales are £1.88bn, up from £1.37bn over the same period and employee numbers rose from 8,238 in 2016 to a whopping 11,139 today.

The figures are boosted slightly by a change in the definition of an SME which increased the threshold for turnover and gross assets. But the direction of travel is very clear '“ and stands as testament to the drive, ambition and graft of firms across the region.

Collectively, these dynamic businesses defied Brexit uncertainty and a host of challenges to deliver, again.