A WEARSIDE firm has found its way into a league table for businesses with the fastest growing profits.
Appearing on the Sunday Times BDO Profit Track for the second time in three years, Sunderland-based GT Group is the sole representative from the North East in this year’s table, which is published this weekend.
Run by founder, chairman and chief executive Geoff Turnbull, the company provides engineering services to the automotive, oil, gas and petrochemical industries, and specialises in fluid transfer, exhaust gas control and materials handling.
It also makes hydraulic seals and rubber mouldings for customers that include JCB, John Deere and BP.
Tighter worldwide emission controls helped profits grow by an average of 46 per cent a year over the last three years to £5.1million in 2013, placing the company at number 86 in the table.
GT Group features alongside businesses from around the UK, including bicycle manufacturer Brompton Bicycles, travel search engine Skyscanner, biscuit and cake maker Tunnock’s, and home accessories maker The White Company.
The Profit Track 100 is compiled by Fast Track, the Oxford-based research and networking events firm.
Terry Jones, partner at BDO, sponsor of the league table, said of GT Group: “Medium-sized businesses in the North East and across the UK are thriving. Our newly-named “Brittelstand” has outgrown the German “Mittelstand” with mid-market businesses across all sectors seizing the opportunities a growing economy presents.
“The North East’s most profitable companies have remained focused on sustainable growth by making intelligent investment decisions in innovation and overseas expansion.”