Thirty six Lincolnshire businesses have been named in the top 200 for profit growth in the East Midlands, with two of them in the top three.
Lincolnshire’s fastest growing business is Bourne-based Ballast Phoenix, which is ranked in second place. It is the UK’s leading service provider to the energy waste industry and specialises in recycling waste into useable ash material for the construction industry.
Lincoln Protein, the animal rendering plant in Skellingthorpe, closely follows in third place, with Lincolnshire’s CGI Managed Services Group (IT outsourcing) ranked 13th in the list.
Derbyshire-based UKCG Group were ranked in first place. The firm produces, distributes and services Carbon, Graphite and Magnesium products to global industrial sectors including aerospace, defence and steel.
This is according to The East Midlands Top 200 Report 2019, which was published on September 17 by the regional office of business and financial advisers Grant Thornton UK LLP in association with the CBI, HSBC and Macildowie.
The 200 businesses in the report are based across Derbyshire, Nottinghamshire, Leicestershire and Lincolnshire. They have grown profits by an average of 30% and employment by 8.2%, and together provide more than 68,000 jobs across the East Midlands.
Lincolnshire companies taking up 36 places in the list shows a 32% average adjusted profit growth rate and a 10% rise in employment, totalling 7,352 people.
The top market sectors for the county are agriculture, food & drink (7 companies), property &construction (7 firms) and retail & leisure (7 businesses).
The average salary at the companies is £25,200 according to the study, with a 3.4% average pay increase.
The full list of Lincolnshire companies and their ranking is:
|2||Ballast Phoenix||Property & construction|
|3||Lincoln Protein Holdings Ltd||Agricultural food and beverage|
|13||GCI Managed Services Group Limited||Services|
|19||Acorn Partitions & Storage Systems||Services|
|22||Parkacre Holdings Limited||Manufacturing|
|29||Internet Fusion Limited||Services|
|43||Freshlinc Group Limited||Transport and logistics|
|57||Lincolnshire Herbs Ltd||Agricultural food and beverage|
|63||Belvoir Lettings PLC||Property & construction|
|64||Mortons of Horncastle Limited||Manufacturing|
|69||Lindum Group Limited||Property & construction|
|73||Broadgate Builders (Spalding) Limited||Property & construction|
|73||Sharmans Agricultural Limited||Agricultural food and beverage|
|80||The Bay Group/Freshtime UK Limited||Agricultural food and beverage|
|86||B.A.Bush & Son Limited||Retail and leisure|
|87||Chandlers (Farm Equipment) Limited||Retail and leisure|
|93||Taylor Lindsey Limited||Property & construction|
|98||Tanglewood Care Homes Limited||Services|
|111||Teen Spirit Limited||Retail and leisure|
|112||Mark Harris (Lincoln) Limited||Retail and leisure|
|114||Turnbull & Company||Property & construction|
|118||Hawkes Farms||Agricultural food and beverage|
|136||Staples (Vegetables) Limited||Agricultural food and beverage|
|149||Direct Leisure Supplies Limited||Manufacturing|
|158||Pennell’s Garden Centres||Retail and leisure|
|163||L.J. Fairburn And Son Limited||Agricultural food and beverage|
|173||Doubleday Group||Agricultural food and beverage|
|176||Ruskington Garden Centre Limited||Retail and leisure|
|179||Elsoms (Spalding) Limited||Agricultural food and beverage|
|184||Daubney (Holdings) Limited||Property & construction|
|187||Kiowa Holdings Limited||Manufacturing|
|188||Ambitions Personnel Limited||Services|
|192||Majestic Bingo Limited||Retail and leisure|
Ballast Phoenix, Lincolnshire’s fastest-growing business
Based in Bourne, Ballast Phoenix is owned by a Dutch parent company and specialises in recycling ash. The company takes the residue from incinerated household waste and processes it to create Incinerator Bottom Ash Aggregate (IBAA), a useful product used in the construction industry.
This process also recovers residual metals which are eventually reused in various manufacturing industries such as the car industry.
Matthew Turner, Director at Ballast Phoenix, said: “There is great demand for our services as UK waste companies need our specialist approach to reduce their contribution to landfill, and the skills and expertise within the business mean we are well primed to quickly take advantage of opportunities in the market.
“By buying into the reuse and recycle concept, we have tapped into growing residual markets, helping us to achieve a profit growth of 134% compounded over the three years under review.
“Since the beginning, we have invested to improve the quality of our products and technology, sourcing funds through a combination of bank and group funding and R&D claims, and this is what will continue to drive our growth.
“By investing in technology to find alternative ways of doing things, we are well positioned to manage the unpredictable nature of the materials we handle, as well as changes in consumer habits and legislation.”
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