New 100 List reveals most profitable businesses

Northern Ireland's locally owned businesses employ more than 52,000 people and more than to thirds are family controlled a new survey reveals.
By The Newsroom
Published 14th Apr 2016, 06:00 BST
Rajesh Rana, Andras Group, John Simpson, UU, Michael McQuillan, UU Business School and Darren McDowell, Harbinson MulhollandRajesh Rana, Andras Group, John Simpson, UU, Michael McQuillan, UU Business School and Darren McDowell, Harbinson Mulholland
Rajesh Rana, Andras Group, John Simpson, UU, Michael McQuillan, UU Business School and Darren McDowell, Harbinson Mulholland

Carried out by Ulster University Business School on behalf of Harbinson Mulholland Chartered Accountants, the Top 100 list is topped by W&R Barnett, Norbrook Holdings and John Henderson.

The biggest employer is Almac, placed ninth, with 3,297 staff and the highest pay bill of £130m.

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For family-controlled businesses, Norbrook employs a total of 2,045, John Graham employs 1,645 and Wright Group employ 1,552.

While four of the top 10 show a decrease in pre-tax profits compared to a year ago, one – Progressive Building Society - shows an increase of 123%.

In all, 14 of the companies listed showed an increase in pre-tax profit of more than 100% over the previous year.

The biggest leap in percentage profit, at 743%, was recorded by men’s fashionwear supplier Douglas & Grahame, whose pre-tax figures rose from £212,000 to £1.788 million.

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The event also saw the launch of the new Family Business NI Forum, which will be set up by Harbinson Mulholland, accompanied by a call for all family-run businesses to register for the forum in May at Belfast’s Ramada Plaza. The first topic ‘The Generation Game’ will focus on the need to look a planning for the future.

Darren McDowell, partner in the Harbinson Mulholland Accounts and Audit Team, said: “This Top 100 list underlines that family-run and locally owned firms account for a huge proportion of Northern Ireland’s business community and are the backbone of our economy, with 72 of them being family-controlled.

“Such businesses operate across every economic sector and there is no doubt they face unique challenges in maximising financial performance while maintaining family control, as well as tax planning, succession management and introducing new blood into the business.

“We think of our own business as a family affair because of our history and ethos, so we understand what it takes to overcome these hurdles. That’s why we decided to publish this guide as a precursor to the Family Business NI Forum, where people will be able to share experience and advice.”

Related topics:Northern Ireland