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Six North East firms ranked among top 250 UK private mid-market growth companies

Six North East companies have been recognised amongst the UK’s fastest growing firms.

Published over the weekend, the 12th annual Sunday Times Grant Thornton Top Track 250 league table ranks the UK’s private mid-market growth companies with the biggest sales.

The six firms have increased combined sales 17% to £1.5bn and operating profits by 21% to £179m, collectively employing 11,200 people..

The biggest mid-market growth company in the region is Newcastle-based Parkdean Resorts, which also has the biggest profits.

Sales grew 8% to £401m while profits grew 16% to £107m. The company employs more than 5,000 people at its 73 holiday parks nationwide, attracting 2m holidaymakers each year.

Three of the six companies in the northeast were not on the league table last year. They are Bulkhaul, the Middlesbrough-based chemicals logistics firm; food & drink wholesaler Kitwave, based in North Shields; and Sunderland-based Paragon, the business process manager, which has grown sales 61% to £240m following a series of acquisitions.

The companies in the region appear with businesses from around the UK, including Arsenal, Dr Martens, Nando’s, Skyscanner and Wagamama.

The league table and awards programme is sponsored by Grant Thornton, and compiled for the 12th year by Fast Track, the Oxford-based research and networking events company.

Andy Wood, Partner at Grant Thornton UK LLP, the title sponsor of the league table, praised the companies for their performance: “In the wake of the EU referendum it is more important than ever that businesses, and the public and the third sectors work together to help the UK to build on its strengths and ensure that the economy continues to grow.

“I am heartened to see how these businesses are embracing a collaborative approach to drive prosperity throughout the UK and wider society.”