Skewed. That’s the best way to describe the change in profits of the Top 50 Manufacturers this year thanks to big losses at two companies.
The figures show a £98m drop, but Tunstall Healthcare Group and sandwich maker Greencore account for £93m of the fall.
Tunstall’s losses increased by £44m to £171m and Greencore’s pre-tax profits fell to £77.8m, down from a massive £126.5m last year.
Take them out of the equation and the headline figure is not significantly different to 2014.
Reliably profitable companies are holding their own and in some cases making progress. Top of the table Langley Holdings bumped profits up £2m to £78m and AES Engineering in Rotherham, third in the list, recorded an £800,000 increase.
Eurocell Profiles, a uPVC window maker in Alfreton, was a stand-out performer, with profits rising from £4.4m last year to an impressive £12.6m, taking it to 6th in the pre-tax profit table, and 19th in the wider Top 50 table which ranks companies by turnover. The firm owns Merritt Plastics which has invested £3m in enlarging and upgrading its PVCu recycling plant at Ilkeston in Derbyshire. It can recycle 10,000 tonnes of old windows a year, as well as 2,400 tonnes of off-cuts.
Historic Doncaster wire rope company Bridon International is new to Top 50 this year after a change of registered office to an address in Sheffield City Region. It made £11.4m, placing it 8th for profits. The firm is 10th in the main table, with £153m turnover and 712 employees.
Sheffield manufacturing star Ancon lands with a bang in today’s Top 50. It is 48th on the main turnover table, with £48.4m, but goes straight in at 9th in the profits table, with £8.2m.