The latest Solent 250 listing shows that the combined turnover of the region’s top privately-owned businesses has continued to grow
Solent 250 businesses have demonstrated their versatility and the listing reflects the valuable contribution they make to the UK economy. In most cases, information was taken from published financial statements for periods that predate the spread of the coronavirus from March 2020 onwards.
Figures from RSM analysts show:
The total combined turnover of businesses in the Solent 250 grew by 7.3%, compared with the previous listing, from £16.1 billion to £17.3b. Four companies had turnover of greater than £500 million. In 2022, we may see the first Solent 250 business go above the £1b turnover level.
Businesses in the Solent 250 employed an additional 4,439 people, increasing total employment to over 108,000 (in other words, growth in employment by 3%).
Southampton led in terms of location of businesses in the Solent 250, with 47 companies headquartered in the city, followed by Fareham (23) and Portsmouth (21).
Retail continues to be the largest sector, with 60 businesses, followed by manufacturing (39) and construction (34). Breaking down the sectors, the motor vehicle industry led with 15 businesses in the region followed by construction, with nine.
The turnover of the 250th company in the listing rose by £1m from £17m in 2020 to £18.6m in 2021, showing the general growth in businesses in the listing.
Merger and acquisition activity remained strong, both within the Solent 250 (for example, the acquisition by Hendy of Westover), and also with businesses exiting the listing following external acquisitions. These included Domo Tactical Communications, Colt Group, Outcomes First, Crayfern Homes, to name only a few.
The Solent 250 is an annual listing sponsored by HSBC UK, Irwin Mitchell, RSM and CMA Recruitment Group.
It was compiled by HSBC UK on behalf of The Business Magazine.
View the full list here: https://bit.ly/3rW6odu
Source: The Business Magazine