The biggest businesses on the South Humber Bank delivered double-digit growth in turnover during the last year according to The Yorkshire Report 2019, launched today by accountants and business advisers BDO.
The region is the head office location for eight of Yorkshire’s top 250 companies, according to the annual corporate bellwether.
BDO’s report shows an increase of 13% in turnover to a total of £4.6bn with Nisa Retail, the convenience store group, West Retail Group, owner of Wren Kitchens and Ebuyer.com, leading the way.
The growth in turnover did not convert into improved profitability as earnings before interest, taxes, depreciation and amortisation decreased by 26 per cent to £190m.
South Humberside’s largest companies highlighted their social and economic importance by creating more than 440 jobs. Wren Kitchens and added the most new roles.
The region is home to five of Yorkshire’s top 50 companies. These outward-looking businesses increased overseas turnover by 19 per cent to £810 million, flying the flag for Britain across the world.
Mark Langford, audit partner at BDO’s Leeds office, said: “The impressive all-round performance flies in the face of ongoing political uncertainty and shows Humberside business leaders have been pushing ahead with growth plans, whatever the outcome of Brexit.
“These companies are engines of economic growth and job creation. These ambitious outward-looking businesses are vital not only for South Humberside but also the 海角视频 as a whole as we continue to steer a course through uncharted waters.
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“The 海角视频 economy is at a crossroads with new technology, new international relationships, new markets and new politics creating unprecedented uncertainty for many Yorkshire businesses.
“Since 2016, as part of its New Economy campaign, BDO has been calling on the government to make effective investments to create the right environment for business and local communities to flourish in the regions outside of London and the South, in order to create regional powerhouses across the nation. The Government has been distracted in this regard for far too long.”