South West firms among biggest before pandemic

EIGHT South West and Channel Isles companies have made it onto the 2020 list of the UK’s biggest private sector companies – based on figures compiled before the coronavirus pandemic struck.

The new edition of the Sunday Times HSBC Top Track 100 league table ranks Britain’s 100 private companies with the biggest sales.

The list, published in the newspaper tomorrow, does not take into account the effects of the threemonth lockdown.

But although some of the firms in the top 100 are now planning to make substantial job losses as a result of the coronavirus crisis, the list nevertheless highlights their continuing contribution to the economy.

Five of the South West companies – Ovo Energy, The Range, Specsavers, Clarks and Dyson – appeared on last year’s list, but are now joined by Cobham, Merlin Entertainments and New Look.

Combined, the eight have achieved sales of £15.8bn and profits of £2bn in their latest financial year, and employ 120,000 people.

The published list also gives examples of how firms have stepped up to support their communities and the NHS. Examples include Bristolbased OVO Energy, at number 70 in the list, launching a £50million hardship fund for customers struggling to pay their bills.

Founded by chief executive Stephen Fitzpatrick in 2009, it is now the UK’s third-largest energy provider, valued at £1billion last year, when Mitsubishi acquired a 20% stake.

Other examples include Cobham Plc, at number 30, the Dorset-based aerospace and defence company which adapted one of its fighter aircraft oxygen regulators for the UK Ventilator Challenge.

Meanwhile, Merlin Entertainments, at number 36, provided the car park at its Chessington World of Adventures resort for coronavirus testing.

The region’s top-ranked company is bag-less vacuum cleaner maker Dyson, at number nine, a drop of two places.

It is technically still based in Malmesbury, Wiltshire, but moved its headquarters to Singapore in 2019, though continuing to invest in its main Wiltshire research hub.

Sales of £4.4billion were recorded and the firm, owned 100% by Sir James Dyson and family, has announced a profit of £1.1774billion. But these figures were from December 2018. It announced in March it would make 10,000 ventilators for the NHS but the Government later said they were not needed.

Other companies featured include Guernsey-headquartered Specsavers, at number 15 nationally, up two places. The high-street optician, which is still run by founders Mary and Doug Perkins and family, with joint venture partners employs 37,000 people worldwide. It recorded up-to-date sales of £2.92billion, but did not reveal profits.

At number 43 in the UK list, and down from 36, is shoe-maker Clarks, based in Street, Somerset, which boasted sales of £1.469billion and an increased profit of £81million. It is owned 85% by the Clark family, and the rest by some of its 11,760 employees and some institutions.

Down three places at number 82 is Plymouth-headquartered budget retailer The Range, which made £101million in profit on sales of £925million, in 2019. The firm, totally owned by Chris and Sarah Dawson, has 10,089 employees.

Meanwhile, Bristol’s Ovo Energy has risen 15 places to 70, as sales surged, but made a loss of £59million on turnover of £1.042billion. The energy supplier has several owners including Stephen Fitzpatrick, with a controlling stake, Mitsubishi Corporation and Mayfair Private Equity.

New entry Cobham, at 30, made a profit of £272million on sales of £2.06billion and employs 10,185 people. Merlin Entertainments, entering at 36, made a £569million profit on sales of £1,74billion. It employs 21,302 workers. High street fashion retailer New Look, based in Weymouth, is at number 53, and made a profit of £69million on turnover of £1.221billion. It has a workforce of 15,528.

The companies in the South West appear alongside well-known British names, including bet365, Iceland, JCB, John Lewis Partnership and Nando’s. This year, the 100 companies reached a record £237billion in total sales, up 8% on the prior year, with total profits of £28billion.