Red and EU make Profit Track 100!

TWO Staffordshire businesses have been named in a prestigious list of Britain’s fastest-growing companies.

Waste management specialist Red Industries and machine parts supplier, EU Automation, are among the 10 Midlands-based companies which have been ranked in the Sunday Times BDO Profit Track 100. The annual league table ranks Britain’s private companies with the fastestgrowing profits over the last three years. Newcastle-based Red Industries came in at number six after recording an average profit growth of 89 per cent over the last three years.

The latest figures show the company reported £5.9 million profit for the year end December 2019.

While EU Automation, which is based in Stafford, came in at 42nd place after recording an £8.6 million profit to March 2020 – and an average three-year profit growth of 60 per cent. Red Industries CEO Nigel Bowen said: “We believe that the service and support which we provide differentiates us from our competition. Every customer within Red Industries has a dedicated account manager, which enables us to build strong relationships through a detailed understanding of their individual needs. “This sharp focus on excellent service standards and growth has been recognised with the news of our achievement in the Profit Track 100 rankings. While recognition is fantastic, the story behind it involves dedication and hard work by our team.”

Richard Rose, tax partner at BDO – which sponsors the league table – said: “These ambitious, entrepreneuriallyspirited businesses punch well above their weight and are vital for the UK economy. “Developing and strengthening our innovationfocused economy is crucial and these businesses will play a key role in the UK’S wider economic recovery.”