Region’s businesses named among UK’s fastest-growing

TWO East Midlands businesses have been ranked in the top 100 of the Britain’s fastest-growing private companies.

Fashion retailer HYPE. and logistics provider Panther Warehousing are in the Sunday Times Virgin Fast Track 100 league table, which is being published this weekend.

It measures annual sales growth over the last three years for private companies and they must have made an operating profit of at least £500,000 in their latest available accounts.

Leicester-based HYPE., which is ranked 26th nationally, has had an annual growth of 94% to reach £15.0m. Panther, which recorded sales of £27.4m in 2015, is ranked 90th with 53% annual growth.

There are 11 Midlands companies overall, with gym clothing business Gymshark leading the way for the region and in the top three nationally.

Virgin founder Sir Richard Branson said: “For 20 years, the Fast Track 100 has checked the country’s entrepreneurial pulse, and highlighted the best and brightest talents emerging from the UK – this year is no exception.

“When I started up in business almost 50 years ago, the word entrepreneur wasn’t really known. Now everyone knows entrepreneurs are the job makers and innovation stimulators of the world.”