Member Article

Revealed: 5 North East firms make Sunday Times Virgin Fast Track 100 league table for 2017

Five North East companies will feature in this year’s Sunday Times Virgin Fast Track 100 league table, published this weekend.

Now in its 21st year, the table ranks Britain’s private companies with the fastest-growing sales over three years.

The five firms, which include three new entrants to the league table, have collectively grown their sales by an average of 84% a year, over three years, to a total of £247m. Together the quintuplet employ 1,300 people.

The region’s top-ranked business is Gateshead snack manufacturer It’s All Good which sits at a mightily impressive sixth place in the list, having enjoyed sales growth of 146%.

The company manufactures snacks, such as its Manomasa tortilla chips, from its Gateshead factory. In 2014, private-equity firm NVM bought a minority stake for £3.5m, which was used to develop new production lines. Sales across the UK, US, Europe and Australia reached £18m in 2016.

The region’s next highest ranked company is Newcastle-based Pink Boutique, which comes in at number 24 after appearing at number 12 last year.

The online fashion retailer, which was founded by Alice Hall four years ago with just a £90 investment, ships up to 4,000 parcels a day from its Newcastle warehouse and employs 57 staff.

Posting a £9m turnover for the year ended February 2017, the business revealed an annual sales growth of 86% over the last 3 years.

Northumberland-based housebuilder Cussins features on the list at number 29, another new table entrant.

Run by father-and-son team Peter and Jabin Cussins, 68 and 37, the company is backed by the Duke of Northumberland’s business arm, which bought a minority stake for an undisclosed sum last year. Sales hit £24.2m in 2017, and the firm plans to sell 250 homes a year by 2020.

At number 57, high profile menswear retailer END returns to the list 23 places higher than its 80th placing last year.

With annual sales growth increasing by 60%, the firm’s lofty £70m turnover is leading to a new flagship store in London next year.

Completing the list is Newcastle’s Frank Recruitment Group, the IT recruitment consultancy, which finds itself at number 97. The company intends to hire 450 new employees by the end of 2018 after posting sales of £127m.

The Fast Track 100 is sponsored by Virgin, Barclays, BDO, BGF and Virgin Media Business, and is compiled by Fast Track, the Oxford-based research and networking events firm.

Sir Richard Branson of Virgin, the title sponsor for all 21 years, commented: “Entrepreneurs are the lifeblood of the economy; driving innovation, creating jobs and challenging industry norms. The achievements of the companies on this year’s Fast Track 100 list are fantastic.

“It’s clear over the coming years UK business will have to adapt to different conditions and we must do all we can to support our entrepreneurs – who will be the engines of growth for Britain.”