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Next 200: Northern Ireland SMEs see profits rise 8%

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Northern Ireland SMEs see profits rise 8%

Northern Ireland SMEs see profits rise 8%

Northern Ireland SMEs see profits rise 8%

Northern Ireland’s leading small and medium-sized firms have seen profits rise by almost 8% in a year, the Ulster Business Next 200 list has revealed.

The annual list, which follows directly on from the Top 100 companies, showcases some of the leading companies here, boasting turnover from £26m to almost £98m. Overall, sales have grown by 9.2% to £8.7bn, up from £7.96bn and profitability has also grown by 7.7% to £540.3m from £501.8m.

The year, travel business World Travel Centre, which has a base in Belfast, topped the list, with turnover of £97.9m, up more than a third from £72.6m.

Ulster Business editor, John Mulgrew, said: “We often here than SMEs are the bedrock and engine room of the Northern Ireland economy, and the latest Next 200 list is yet another clear example of that.

“Our companies, from right across the sectors, have shown their strength and resilience – many posting both increased profits and sales. The rise follows a similar pattern to the fortunes of our Top 100 Northern Ireland Companies list for 2019.”

There were exceptional performances throughout the listing but as a potential precursor to inclusion in the 2020 Ulster Business Top 100, nine companies have exceeded the minimum turnover of £74.6m needed for inclusion in the 2019 Top 100 listing.