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news opinion


Two boxes, one ‘X’ – and this month is all about where to put it


With less than a month to go at the time of going to print, many leaders are still unclear on how leaving or staying in the EU will affect their businesses.


The Electoral Commission’s Voting Guide offers a few words from each side, including these: “EU membership adds up to £91 billion a year to the UK economy – meaning more money to invest in the NHS,” and: “The EU costs us £350 million a week ... Let’s take back control and spend our money on our priorities like our NHS.”


So it’s no wonder really. It seems to me that referendums can be a risky business. When voters don’t sufficiently understand the pros and cons, then surely government representation is a better form of democracy?


But that’s just one view. See ‘Taking the Temperature’ (page 21) for more on what the region’s business leaders are feeling.


Brexit aside, the last month has been a model of progress, development and inspiration.


Cameron is to introduce a new corporate offence for executives who fail to prevent fraud or money laundering in their companies; and the Bank of England has voted unanimously to keep interest rates at their current level.


Britain’s car industry has welcomed a new Bill to help ensure the UK is at the forefront of driverless technology; and in sport, Leicester City’s triumph has been cause for celebration and inspiration.


Halifax raised the maximum age limit for its mortgages to 80; and just a week later Nationwide trumped this by lifting its limit to 85, the highest of any major lender.


In property, Thames Valley office enquiries in Q1 were at their highest level ever as we celebrated the Thames Valley Property Awards last month (see pages 40 to 54).


And topping the charts in so many recent UK surveys, Reading has earned itself the enclosed dedicated supplement – a celebration in itself – which we hope you’ll enjoy.


Carry de la Harpe Editor


businessmag.co.uk


Fastest-growing profits for Reading group


Shrinking the UK’s carbon footprint has helped drive up profits for a Reading group – so much so that it has topped the latest Sunday Times BDO Profit Track 100 league table, which ranks Britain’s 100 private companies with the fastest- growing profits over their latest three years' accounts.


Anesco, which specialises in identifying and commercialising the latest green technology from Britain and overseas, is the first Thames Valley-based company to scale such heights for many years.


The group installs and maintains renewable energy equipment such as solar panels and heat pumps for homeowners, local authorities and businesses. Its partnerships range from Oxford-based Oxis Energy – which claims its lithium-sulfur battery could outperform the lithium-ion versions used by firms such as Tesla – to the RSPB, which is helping it nurture biodiversity at its solar sites.


The company was spun out of Scottish & Southern Energy in 2010 by co-founders Adrian Pike and Tim Payne. Operating profits increased 179% a year on average over the past three years, reaching £20.7 million in 2015 on sales of £160.2m. Anesco has since diversified into other areas, from street lighting to biomass boilers, and now has a staff of over 100.


The average profit growth of 112% for Mobile Phones Direct of Thatcham gave it 11th place. The online phone retailer was founded in 2011 by chairman Karl Borges, who started with a bricks-and-mortar retailer of the same name.


With a staff of over 50 led by chief executive Ben Branson, the company sells mobile


NEXT MONTH In the July/August issue of The Business Magazine


Thames Valley 250 Multi-billion-pound listing of the region’s top private businesses


Focus on Newbury The changing face of West Berkshire’s market town International Trade Cross-border transactions post-referendum


Pensions & Auto-enrolment Where are we now?


Intellectual Property How companies are making their mark


To participate in these features email - Peter Laurie at peter@elcot.co.uk THE BUSINESS MAGAZINE – THAMES VALLEY – JUNE 2016


phone accessories, handsets and contracts from providers EE, Vodafone and Talkmobile. After focusing on improving its search engine rankings and online marketing, profits grew to £5.2m last year from sales of £63.5m.


High Wycombe company Mint Velvet, whose range of women’s clothing, accessories and footwear is available online and at its 28 shops and 92 department store concessions, was 31st in the table. The company was founded in 2009 by Liz Houghton, Stuart Grant, Lisa Agar-Rea and Jane Rawlings and now employs over 500 staff. New store openings helped to increase its latest profits to £10.8m from sales of £63.1m, giving it an average three-year figure of 86%.


Last year it opened shops in Switzerland and Dubai, and in December the company sold a stake of undisclosed size to Lewis Trust Group, the investment business set up by the founders of River Island.


Another High Wycombe company, the family-owned Origin (34th), was founded in 2002 when cousins Neil Ginger and Victoria Brocklesby recognised a gap in the market for high quality bi-folding aluminium doors, made to bespoke specifications.


The group has since expanded its range to include aluminium windows and electronic roller blinds, and also extended staff numbers to over 100. Alongside a sales office in Dubai, the group is investing to expand in the US, which helped profits rise to £3.4m in 2014 from sales of almost £17m, averaging profits at 85%.


The Profit Track 100 is compiled by Oxford-based Fast Track.


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