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RISING TO THE CHALLENGES
Lancashire businesses have risen to the challenges of the pandemic, price rises and Brexit to deliver for the county’s economy once again.
Profits generated by this year’s Hot 100 stand at an impressive £290m, up from £208m last year.
The businesses that make up our list have seen a 39 per cent increase in profit before tax. This is despite a reduction in sales of £57m and employees of 772.
Our annual celebration of the county’s most profitable SMEs welcomes 40 new entrants this year who have contributed £118m to the overall profits and provide work for 4,324 employees.
Of the companies which dropped out of the table this year, four were because of growth, which has taken them into the large company status.
The list also highlights the impact government initiatives played in supporting businesses through the pandemic. Our featured businesses received just under £10m in government grant funding. This doesn’t include any government backed loan schemes.
Company profiles compiled by Tim Aldred
Dean Rodgers, accounts and advisory manager at PM+M accountants, who once again compiled the Hot 100 for us, says: “The part that government initiatives played, such as loan schemes and furlough funding, is not to be misjudged. During the pandemic, such funding influenced firms’ futures, including some of those in the Hot 100.”
The list also reveals how the construction sector continues to dominate both locally and nationally. This year it makes up 40 per cent of the Hot 100 profit. Logistics is another strong sector.
Dean says: “This year’s rankings certainly reflect a mixed picture in the economy where some industries are faring better than others.
“Overall, the results indicate a positive trend for the Lancashire business community with profits increasing despite a backdrop of coronavirus uncertainties, price rises and a challenging economic environment.”
Lancashire Business View publisher Richard Slater says: “Once again, what comes through in the list is the determination and resilience of businesses in the county.
“Whatever the challenges and obstacles placed in front of them they continue to move forward and to deliver for the local and national economy.”
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