GT Group named fastest growing North East star
GT Group, an environmental engineering company, has been named as the North East company with the fastest-growing profits in the prestigious Sunday Times PwC Profit Track 100.
GT is among only three companies from the North East, and nine from the North East and Yorkshire, to have earned places on the 14th annual listing.
The league table ranks Britain’s privately-owned companies with the fastest-growing profits over the last three years of available audited accounts, and is published this weekend.
GT Group, which exports to more than 60 countries worldwide, has forged a global reputation for its revolutionary engine emissions control systems.
Its annual profits growth over three years is 68.61 percent with its latest profits coming in at more than £5 million.
The specialist engineering product design and manufacturing company develops ground-breaking systems in partnership with the world’s leading on and off highway diesel engine manufacturers.
Its range of emissions and thermal control products, which are fitted to trucks, buses, tractors, marine and construction equipment, have a huge environmental impact as they dramatically reduce the pollutants produced by diesel engines.
GT Group, which has its head office at Peterlee, County Durham, and sites in Consett, Newton Aycliffe and Sunderland, is run by Geoff Turnbull, who started as an engineering apprentice at the age of 15.
In 1985, he formed GT Group and since then the company has grown through continual investment in the best plant and machinery available, a strong focus on research and development, and the recruitment of talented employees. Today the workforce stands at more than 300.
Mr Turnbull, GT Group Chairman, said: “GT Group is very proud to be included in this prestigious independent ranking. In addition our inclusion in the listing demonstrates that manufacturing makes a significant contribution to the regiona’s and country’s economic wellbeing.
“It also is testament to the hard work and support of our talented workforce without whom we would not have been able to achieve this.”
GT Group continues to have ambitious plans for growth, which will increase its workforce to 500 in the next three years and increase its turnover from £30m to £60m.
The nine companies, from the North East and Yorkshire, (compared with eight last year) have made a strong contribution to the local economy, despite the tough economic conditions. They have combined profits of £50m and employ 4,650 staff, having added 2,500 jobs in the last three years.
The Profit Track 100 is sponsored by PwC, Lloyds Bank Commercial Banking and UBS Wealth Management. It is compiled by Fast Track, the Oxford-based research and networking events company.
Arif Ahmad, Partner and Yorkshire and North East Private Business Leader at PwC, the title sponsor of the league table for the 14th year, commented on the region’s success stories: “Northeast’s and Yorkshire’s privately owned businesses are crucial to the economic recovery of the country. The Profit Track 100 demonstrates the success of these businesses across a variety of sectors and serves to highlight the valuable contributions they make.”
This was posted in Bdaily's Members' News section by Recognition PR Business Team .
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