Five companies headquartered in Wales have been listed among the businesses with the fastest-growing profits in Britain.
Published this weekend, the 22nd annual Sunday Times BDO Profit Track 100 league table ranks the private companies with the fastest-growing profits over their last three years – largely before Covid-19 struck.
The five Wales-based companies are new entrants to the rankings.
The businesses have grown their operating profits by an average of 85% a year over the past three years to a total of £29m, and together they employ more than 1,250 people.
One of the top-ranked companies on the league table is Caerphilly-based Direct Healthcare Group. It makes equipment for the NHS to aid patient mobility and comfort, such as pressure-relieving mattresses. At the start of the pandemic it secured five months’ worth of orders in just two weeks, supplying the new NHS Nightingale hospitals. Its profits rose by 133% a year to an annualised £7.1m in 2020, on annualised sales of £61.7m.
Wrexham is home to outsourced communications provider Money-
penny. It handles more than 20m calls and webchats a year for 21,000 businesses across the 海角视频 and US, and its latest innovations help clients deal with remote working. Led by group chief executive Joanna Swash, annualised profits hit £7m in 2019, and it was listed at No. 15.
Two Swansea-based businesses made the list, iPulse and Character.com.
Hair removal technology firm iPulse sells its SmoothSkin range of hair removal devices in more than 30 countries and was placed in the top three of the rankings alongside compatriot Direct Healthcare Group.
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Character.com, which donated £3 to NHS charities from every Paw Patrol key workers T-shirt it sold, ranked No. 50 on the list.
Completing the quintet of companies is the Gwent-based GTS Flexible Materials.
The companies in Wales appear alongside well-known British brands including Thatchers Cider, the Somerset cider-maker, and Brompton, the London-based bicycle manufacturer.
Past star alumni include Dyson, which featured in 2000 with profits of £24m, and saw these rise to £711m in 2019, and global technology platform THG, which ranked No. 1 in 2014, with profits of £11m; it floated last year valued at £5.4bn and is now worth £6.5bn.
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The Profit Track 100 league table is sponsored by BDO, Santander and UBS Wealth Management, and is compiled by Fast Track, the Oxford-based research and networking events firm.
Paul Falvey, tax partner at BDO, said: “These ambitious, entrepreneurially-spirited businesses punch well above their weight and are vital for the 海角视频 economy; they invest and this investment also creates jobs.
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“As the vaccine programme continues to be rolled out and lockdown restrictions are eased, high-growth businesses like these must have adequate support. We are pleased to see the range of business support measures in this year’s Budget.
“Developing and strengthening our innovation-focused economy is crucial and these businesses will play a key role in the 海角视频’s wider economic recovery post-pandemic.”