The Province’s top 100 companies saw turnover jump to £15.9 million in the 2006/2007 financial year, up nearly 12 per cent on the previous period, according to figures compiled by D&B and published by Ulster Business magazine.

The 20th annual Ulster Business Top 100 listing showed a storming performance across the board with local companies continuing to hold their own in an increasingly competitive environment.

Electricity provider Viridian once again managed to hold on to the top spot with turnover of well over £1 billion while Fermanagh-based Quinn Group continued to perform and retained the second-place position at £886 million.

The most impressive aspect of the cement-to-glass company’s most up-to-date accounts was profit for the year of nearly £230 million, a figure that only Viridian and third-placed Glen Electric were able to come close to.

On the manufacturing side, Dungannon-based Powerscreen jumped up the leader board to take 13th spot, a climb of 36 places from last year’s position.

In other notable performances, component manufacturers Humax from Newtownards took 25th place, up from last year’s 49th, while Craigavon-based pharmaceutical group Almac Group jumped to 43 from 93.

FG Wilson and Bombardier keep this trend going in the Top 10 alongside some of the province’s largest food manufacturers such as poultry processor Moy Park in fourth place and Hilton Foods in sixth.

“The Ulster Business Top 100 has shown the Northern Ireland economy was in fine health last year,” said Ulster Business editor David Elliott.

“This stellar performance should give business leaders confidence to drive their businesses forward at a time when cost pressures are increasing and economic growth is slowing,” he added.

But while turnover continues to grow, early evidence of cost pressures – as a result of soaring energy and food costs – hitting profit margins has already emerged.

The Ulster Business Top 100 companies generated profits of £922 million in the 2006/2007 financial year, down slightly from £969 million the previous year while profit margins fell to 5.8 per cent from 6.5 per cent.

“While turnover growth remains impressive, evidence of profit margin erosion means ability to manage costs will be a significant factor in determining where each of these companies stand next year,” added Mr Elliott.

Key points of the survey include:

n The Top 100 companies generated profits of nearly £922 million, creating an average pre-tax profit margin of 5.8 percent.

n Best performing by profit margin was CRE Energy at 44.3 per cent, while AES Kilroot recorded 27.1 per cent, Quinn Group 25.9 per cent, Kennedy Group 17.7 per cent and Taggart Holdings 15.9 per cent.

n Of the Top 100, 39 are Belfast based, 23 from Co Antrim, 10 from Tyrone, nine from Down, nine from Londonderry, seven from Armagh and three from Fermanagh.

n Of the 100 companies, 14 declared a loss for the fiscal period compared to nine last year.