Despite the uncertainty caused by last year’s unexpected Brexit vote, the Sheffield City Region experienced a strong 12 months with significant increases being recorded in turnover, profits and employment. It is to be hoped that, as the Brexit negotiations commence in earnest, the region’s businesses continue with this improved upward momentum.
The headline results from the survey are;
- Turnover for the Top 100 companies has increased by 6.8%.
- Profits before tax have increased significantly by over 22%.
- Employment has increased by 3.8% compared to 2015 with the Top 100 currently employing just over 21,000 more than in 2014.
The construction and building products sector reported a strong set of results with increased turnover and profitability of 18.5% and 56% respectively and many of our local companies are leaders nationally in their fields.
Clearly enjoying the current improvement in trading and competitive finance, motor dealers saw a 9.7% growth in turnover. Reported results for the retail sector show an increase in both turnover and profitability but these are heavily skewed by a strong performance from DFS, with most retail companies continuing to report a challenging environment with the continued impact of technology on our shopping habits.
We are continually told that one of the keys to the future prosperity of the region will be our ability to grow our knowledge based economy. It is therefore pleasing to report that the information and communication sector currently represents 5% of the Top 100 Companies, enjoyed an 11% increase in turnover and increased employee headcount of almost 5%.
As expected, manufacturing continues to be our single biggest sector, with combined turnover representing 30% of the Top 100. The sector has had another difficult 12 months with turnover down by 0.3% and it is to be hoped that the focus by the LEP on skills, together with the recent high profile announcements from Maclaren and Boeing will provided a much needed boost to businesses in the region.
Overall, a strong year for the Top 100 with local businesses improving profits, creating jobs and investing in the right areas for the future. To view a full copy of this years results,please click here.
Other related articles;
- Innovation driving the City Region Top 100 success
- A quiet year for the City Region Top 100?
