48 HOT 100
44 New entry
JDS Trucks, Blackburn JDS sells and services new and used Isuzu and Renault trucks through sites in Blackburn, Manchester and Leeds. Following a year impacted by Covid-19 restrictions, registrations of HGVs increased 13 per cent and light commercial vans by 28 per cent, helping take revenues from £36.9m to £51.5m.
42 New entry
Leach Structural Steelwork, Preston Leach specialises in the construction of steelwork and cladding, completing projects in sectors such as education, health, industrial, leisure, residential and retail. Established in Lancashire for more than 40 years, the company has become a preferred subcontractor to a growing number of principal contracting companies across the North West and wider UK.
40 2022: 67
One Stop Hire, Chorley One Stop Hire hires out power tools, access systems, small plant and workwear through a network of 25 locations. The company also operates a training division specialising in health and safety and equipment-related courses. This year, the company acquired Lord Tool Hire of Newcastle, which operates eight branches, and which helped take total revenues from £14.8m to £21.9m.
43 2022: 15 Barnfield, Nelson
Barnfield is a construction company which undertakes its own projects as well as on behalf of private and public sector organisations. The company has completed more than 1,000 projects in its 45-year history, with more than 200 in Pendle. Across Lancashire, Barnfield has developed 40m sq ft of industrial space, 17m sq ft of commercial development and more than 4,000 homes.
41 New entry Kerax, Chorley
Although Kerax has been producing wax blends and lubricants for more than 60 years, it is in the last decade that the company’s growth has truly accelerated. This is, in large part, due to its recognition that customers would want more environmentally friendly products and developing its own vegetable-derived waxes as an alternative to the standard petroleum products. Kerax’s waxes are now exported to six continents, with total revenues increasing from £24.5m to £33.6m over the year.
39 New entry B&W Plant Hire, Blackburn
B&W - named for father and son team Bill and Will Whitwell - operates a hire fleet of more than 2,500 items ranging from micro excavators to 50-tonne excavators. As well as its Blackburn base, the company operates depots in Keighley, Northwich and Southampton, and bounced back from a year blighted by Covid-19 restrictions to increase revenues from £9.7m to £15.9m. The business was purchased by the Fox Group in December 2022.
RESILIENCE CONTINUES TO DELIVER Expert View
By Dean Rodgers, accounts and advisory manager at PM+M accountants
The Lancashire business scene has been a dynamic and vibrant force in the UK’s economic landscape and this year’s Hot 100 results did not disappoint, with profits generating an impressive £254m and total sales increasing by £138m.
Despite this, disappointingly, we have seen a 12 per cent drop in profit before tax compared to the previous year, and a 26 per cent reduction in employees – largely due to the ongoing uncertainty and the cost-of-living crisis gripping the country and our county over the past 12 months.
However, given that around £100m of profit in last year’s list came directly from government grants related to the Covid pandemic, it is questionable whether businesses are actually faring better this year once this is taken into account.
Nearly half of the listed businesses come from new entrants, with 46 newcomers making up an impressive 41 per cent of the overall profits.
Of the companies which dropped out of the table this year, 22 were
as a result of decreasing profitability and eight as a result of growth, which has taken them into the large company status.
One of the key strengths of the Lancashire business economy is the varied range of sectors. This diversification has helped to create a resilient marketplace that is not overly reliant on any single industry.
Digging deeper into SME performance, leading the way in this year’s Hot 100 is the construction sector, dominating the list with a 35 per cent share.
Overall, the results indicate a positive trend for the Lancashire business community with total sales increasing, despite a backdrop of rising inflation, the Ukraine war, skills shortages and a challenging economic environment.
The 12 per cent decrease in profit compared to 2021 is likely due to these variables, alongside the removal of Covid government initiatives, such as loan schemes and furlough funding, as businesses continue to recover from the pandemic.
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