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Gloucestershire Business News

Fastest growing profits list names Gloucestershire firms

Four Gloucestershire businesses have been named in a list of Britain's private companies with the fastest growing profits.

The list, put together by the Fast Track team for The Sunday Times newspaper, names a spread of firms from across the UK, including one from the Forest of Dean, from Gloucester, Staverton and a fourth, from Cirencester.

The latter, a specialist manufacturing firm for the medical sector, is listed in the top 10 and saw a 108.57 per cent growth in profits at the end of its last recorded financial year.

That firm, Corin Orthopaedics, ranked number nine, also saw its new hip replacement cleared for sale in the US last year.

"Founded in 1985 this Cirencester company manufacturers cutting-edge orthopaedic implants and develops technologies to help provide more customised treatment for patients," said The Sunday Times.

"A focus on pre-surgical diagnostics helped profits rise to £7.4 million in 2017. In 2018, chief executive Stefano Alfonsi, 54, oversaw the sale of the business to private equity firm Permira for an undisclosed sum.

"It then acquired Global Orthopaedic Technology, Australia's largest manufacturer of hip and knew implants, also for an undisclosed sum."

Also featured, at number 85, was Forest of Dean-based Bell Homes. It saw a 59.78 per cent increase in profits to £4.9 million, with sales rising to £51.4 million. The firm employs 250 staff.

At number 89 was another house builder, this time from Gloucester. Newland Homes, which employs 64 staff, saw profits increase 58.55 per cent to £12 million with sales rising to £60.9 million.

And at number 96 was electrical contractor Clarkson Evans, which has its headquarters at Staverton and employs 791 staff in total. The business saw profits rise 55.14 per cent to £3.9 million, and sales grow to £52.1 million.

According to The Sunday Times operating profits at the private companies on what is the twentieth annual Sunday Times BDO Profit Track 100 rose by at least 54 per cent a year for the past three years, compared to a minimum of 53 per cent a year last year and only 32 per cent for those appearing on the first league table in 2000.

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