海角视频 boat builder Princess Yachts has sailed further up the list of the 海角视频’s biggest mid-market companies after seeing profits triple in just a year.
The Plymouth-based manufacturer’s profits have jumped from £11million to £29.8million, on sales of £340.3million, catapulting it 38 places up the annual Sunday Times Grant Thornton Top Track 250 league table.
The company has now docked at number 49 in the list just four years after it fell out entirely following a slump in sales.
But now it is certainly setting a course for success and is now the mid-market growth company with the highest profits in the entire South West.
Princess Yachts is 98.5% owned by L Catterton and employs 2,865 people. It has a “diverse” sales base, with 25% of its boats, which can fetch up to £20million, going to the Americas, 25% to the Middle East and Asia, 35% to Europe, mainly the EU, and just 15% to the 海角视频.
The Stonehouse-headquartered company has been celebrating the most successful year in its 54 year history with forward orders worth £700million, stretching through 2020.
Brexit news...
Princess Yachts’ exceptional figures were based on a combination of strong sales at the industry’s three biggest global boat shows – Cannes, Fort Lauderdale and Düsseldorf and the year began in buoyant form with strong orders secured at the 2019 Düsseldorf Boat Show in January 2019.
The list, which ranks Britain’s private mid-market growth companies with the biggest sales, is published for the 15 time on Sunday, October 6.
Most Read
Three entrants from the region are appearing on the league table for the first time, including car dealer Cotswold Motor Group; timber merchant International Plywood; and Exeter-based car rental company Thrifty, which grew sales 12% to £116.1million last year. Two other firms - taylor Maxwell and Numatic International - have re-entered.
But Cornwall’s St Austell Brewery, which has four Plymouth pubs and Barbican coffee outlet, falls out of the top 250, after appearing at number 173 in 2018, when it had risen two places on profits of £13million and sales of £169million.
The nine companies in the list which are headquartered in South West, the same number as in 2018, have made a strong contribution to the regional economy.
TOP TRACK 250 – the list
Here are the South West firms in the 2019 Sunday Times Grant Thornton Top Track 250 league table:
RSG – Bristol recruitment consultants at number 32 (up from 33). Sales: £427million. Profit: £15million. Staff: 271
Princess Yachts – Plymouth luxury boat builder at number 49 (up from 87). Sales: £340million. Profit: £30million. Staff: 2,865.
Qualasept Pharmaxo – Wiltshire pharmaceuticals manufacturer at number 97 (up from 143). Sales: £240million. Profit: £17million. Staff: 270.
Taylor Maxwell - Bristol building products supplier at number 106 (re-entry). Sales: £229million. Profit: £7million. Staff: 195.
Cotswold Motor Group - Cheltenham car dealer at 159 (new entry). Sales: £173million. Profit: £4million. Staff: 363.
Molson Group – Bristol construction equipment dealer at number 176 (up from 248). Sales: £161million. Profit: £7million. Staff: 181.
Numatic International - Chard cleaning products manufacturer at number 179 (re-entry). Sales: £158million. Profit: £15million. Staff: 998.
International Plywood - Gloucester timber merchant at number 181 (new entry). Sales: £156million. Profit: £7million. Staff: 81.
Thrifty - Exeter car rental company at number 247 (new entry). Sales: £116million. Profit: £30million. Staff: 1,437.
The firms that have fallen out of the top 250 for 2019 include:
Lush – Dorset cosmetics manufacturer and retailer.
Nisbets – Bristol catering equipment supplier.
Oak Furniture Land – Wiltshire furniture retailer.
St Austell Brewery – Cornish pub company.
DB Food Group – Dorset food wholesaler.
The companies increased combined sales 23% to £2billion and operating profits 39% to £132million, and they employ more than 6,000 people combined.
They appear in the list alongside businesses from around the 海角视频, including chic footwear brand Dr Martens, fashion chain Fat Face, PureGym and David Lloyd Leisure.
The Top Track 250 is sponsored by Grant Thornton and Lloyds Banking Group, and compiled by Fast Track, the Oxford-based research and networking events firm.
Don’t miss
How to contact William Telford and Business Live
Business Live's South West Business Reporter is William Telford. William has more than a decade's experience reporting on the business scene in Plymouth and the South West. He is based in Plymouth but covers the entire region.
To contact William: Email: william.telford@reachplc.com - Phone: 01752 293116 - Mob: 07584 594052 - Twitter: - LinkedIn: - Facebook:
Stay in touch: BusinessLive newsletters have been re-designed to make them even better. We send morning bulletins straight to your inbox on the latest news, views and opinion in the South West. Get our breaking news alerts and weekly sector reviews too. Sign up now - it's free and it only takes a minute. To sign up for Business Live's daily newsletters click .
And visit the Business Live South West LinkedIn page
Tim Lincoln, partner at Grant Thornton 海角视频 LLP, the title sponsor of the league table, praised the companies for their performance.
He said: “Whilst the headwinds of political and economic uncertainty have been a consistent feature of the 海角视频 economy over the past year, mid-market firms have continued to prove their resilience.
“They’ve demonstrated their adaptability to uncertain times and found opportunities for growth, both at home and abroad.”