Profits of top Lincolnshire businesses more than double since 2014

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The average profits of Lincolnshire’s best performing businesses have more than doubled since 2014, according to the initial findings of the annual East Midlands Top 200 Report.

The report, produced by the East Midlands office of Grant Thornton UK LLP in partnership with the CBI, is the region’s only dynamic, in depth study of the growth, performance and percentage rise in the profitability of businesses run from the East Midlands.

Ranking businesses by the percentage growth in profitability over the last three years, the report highlights both established and up-and-coming businesses, and tracks the fortunes of the local and regional economy, to provide insights into the East Midlands’ fastest growing companies by key sector and performance indicators.

The full findings and names of the Lincolnshire businesses making the 2017 report will be unveiled at a breakfast event, on Friday, June 23, at Belton Woods Hotel, Grantham, the final in a series of briefings across the region.

Grant Thornton Director, Mark Pashley said: “The report’s initial findings reveal that overall, East Midlands’ businesses have experienced an average compound growth rate in profits of just over 29% each year since 2014.

“Lincolnshire businesses making the 2017 report have performed well in the last 12-months, and provide almost 7,000 of the county’s jobs.”

However, the Report shows a stark difference in the amount of cash reserves for the East Midlands’ top 200 businesses between the opening and closing periods.

Mark added: “Despite a nearly 13% increase in debt, the net debt position shows that companies appear to be storing cash on the balance sheet and not spending or investing, perhaps signalling some nervousness over the future, maybe due to Brexit or a more general lack of incentive to invest.”

For more information about attending the event, contact Mayuri Dhanak, Grant Thornton, by emailing [email protected]