An analysis of the North West’s largest businesses has revealed impressive statistics; contributing around £10.5bn to the regional economy over the last three years, a 52% increase since 2010.
The figures are contained in North West Ltd; a study of the top 100 businesses in the region by turnover, which has been compiled by accountancy firm Grant Thornton.
Around 76 of the companies are privately owned, 13 are Plcs and the remainder are subsidiaries of foreign businesses.
Across the board profits were up by 65% from £241m to £398m over the three-year period. Their overall net asset position improved by 72% from £408m in 2010 to £701m in 2012.
Gearing – or total borrowings over equity – fell from 269% in 2010 to 176% in 2012 reflecting the overall improvement in financial performance that has translated into cash and assets.
Grant Thornton’s North West managing partner Carl Williams said:
“We looked to see sustained growth as opposed to encouraging blips. The picture that emerges from the top 100 suggests a group of lean and agile businesses getting strategy and delivery right.
“These are firms that understand their markets, with decision makers who have adapted well to changing circumstances. Typically, the big calls are focused on issues such as investment in operations, product and process innovation, customer behaviours, acquisitions as well as success in new domestic and overseas markets.”
The high flyers include: Warrington-based oil and gas recruitment firm Fircroft; Capenhurst-based EA Technology; retailer The Fragrance Shop and Billington, the Liverpool-headquartered group which has manufacturing businesses in the food and agriculture sectors.