BDO Yorkshire Report 2014: Manufacturers continue upward trajectory

YORKSHIRE manufacturers are continuing their upward trajectory, with double digit growth in revenues, investment and employee numbers, according to the BDO Yorkshire Report 2014.

BDO’s report found that Yorkshire’s heartland in manufacturing is proving particularly resilient and increasingly important to the region, with 34 of the region’s biggest companies now being manufacturers (compared to 31 last year).

The group of companies saw revenues rise by 10% to £10bn and increased employment levels by almost 20% to 38,000 people – bucking the top 150 trend of a 2% reduction in employee numbers. 

They also bolstered investment in property, plant and machinery by 23% to almost £250m in the reporting period, which Jason Whitworth says is a “great sign of things to come”.

Partner Jason Whitworth leads the manufacturing sector group at BDO in Yorkshire.  He said:  “In many ways 2013 was a turning point for the sector, as a combination of strong UK sales and rising exports drove up orders and confidence. 

“The single most important thing now, however, is for businesses to translate that confidence into growth – and to do that they must invest. They must continue to develop their long-term growth strategies by identifying ways to innovate, reduce waste and grow market share both organically and acquisitively.

“The sector is already starting to make headway and deploy the war chests they’ve accumulated over the last few years.  Next year’s results will no doubt be even more impressive, firmly securing Yorkshire’s future at the heart of best-in-class manufacturing.”

Shipley based can-making manufacturer CMB Engineering, which was last month awarded the Queen’s Award for International Trade 2014, was one of the newcomers to this year’s top 150 companies.  Acorn Mobility re-entered the list, just one month after being named in the BDO Sunday Times Profit Track 100.  Meanwhile Leeds-based Sulzer Pumps was praised for being one of the fastest growing companies in Yorkshire following at 25% rise in revenues to almost £180m.

To download the full report, click here.