The Hut topsProfit Track 100 again
ONLINE sports nutrition and well-being retailer The Hut Group has been ranked as the rtop performer in the annual Sunday Times Profit Track 100 league table.
Having been ranked number one in 2014, the Northwich company, which in the last year has taken investment from US private equity giant KKR, retains the prestigious title for this year.
The full list, which ranks Britain’s private companies with the fastest-growing profits over the last three years, has been published in the Sunday Times.
The Hut and the 10 other North West companies included, have made a strong contribution to the local economy, together achieving combined profits of £98m and employing 5,000 staff, having added 1,200 jobs in the last three years.
The Hut, which is behind Myprotein, Lookfantastic and the Knutsford clothing brand, grew profits an average of 217% a year to £16m in 2014, before exceptional costs, on £248m of sales.
Chief executive and co-founder Matthew Moulding said:”Topping the Profit Track rankings for the second year running is a fantastic reward for the total commitment from team at The Hut.
“Due to the substantial investment made in the group’s proprietary technology platform since starting the business, it has been possible to undertake rapid international expansion, with the majority of the group’s sales now occurring outside the UK. Despite this focus on international expansion, it is especially pleasing to still be very much be a North West business, with all of our 1,200 staff based in the local area.”
New entrants to the league table include Liverpool office furniture manufacturer Dams International, which fell on hard times in 2009, but has been turned around by a management team led by Christopher Scott, 39, the son of the founder.
Wigan’s Ainscough Crane Hire regains a place (12th place) after a 10 year absence, while family-owned Lancashire furniture company Senator International debuts at 52nd place, one place ahead of Knutsford-based manufacturer Oliver Valvetek.
Manchester technology firms ANS and UKFast are also included, with Scott Fletcher’s ANS at 72nd and Lawrence Jones’ UKFast at 84th.
The Profit Track 100 is sponsored by BDO, Lloyds Bank Commercial Banking and UBS Wealth Management. It is compiled by Fast Track, the research and networking events firm.
Tim Entwistle, North West senior partner at BDO, the title sponsor of the league table, said: “Medium-sized businesses in the North West and across the UK are thriving.
“Our newly-named ‘Brittelstand’ has outgrown the German ‘Mittelstand’ with mid-market businesses across all sectors seizing the opportunities a growing economy presents. The North West’s most profitable companies have remained focused on sustainable growth by making intelligent investment decisions in innovation and overseas expansion.”
