Airline Services flies high in profit league
AIRLINE Services is the highest-ranked of 14 North West firms who have made this year’s Sunday Times Profit Track 100 league.
The company, which recently received investment from private equity firm LDC in a deal which valued it at £40m, finished ninth in a national league table after growing profits by more than 100% over a three-year period to £5m in 2010.
Other companies to make the list included Liverpool cotton merchant Plexus Cotton, which owns a network of cotton-producing operations in Africa. The company is led by chairman and founder Nick Earlam, and its profits grew by 84% over three years to £8.3m in 2010.
Blackburn-based Accrol Papers enjoyed 75% profit growth to £5.4m, and Warrington software developer MDS enjoyed 72% growth to £4.1m.
Tangerine Confectionery, which is based in Blackpool, made its fourth appearance on the list. The firm makes classic confectionery like Wine Gums, Liquorice Allsorts and Butterkist Popcorn and grew profits by 57% to £13.7m in 2010. It is backed by private equity house Blackstone.
Other North West firms to make the list include drinks distributor Halewood, B&M Retail, telecoms company Chess and Oliver Valves.
Alison Lever, PWC’s head of private business in the North West, said: “It’s great to see these local privately-owned companies delivering sustained profit growth and making such a positive contribution to the economy.”
