Interesting times we live in
WE predicted last year that the North East Top 250 listing for 2009 would be fascinating due to the challenging times ahead. And indeed...
It has been a testing time for all companies – regionally, nationally and globally – which has made a significant impact on this year’s listing.
But it’s not all doom and gloom in the North East. We need to highlight the successes and accomplishments of companies who are battling through the economic crisis.
So it’s congratulations and welcome back to top spot Arriva plc transport group. It is six years since it was last able to make number one spot its destination. This time it makes it with a turnover of £3.042bn.
That makes it a year of double celebration, since it is also one of a number of North East companies to be awarded recently the prestigious Queen’s Award for Enterprise.
Despite the current economic trials, Arriva has been one of the region’s companies honoured for services to international trade.
Movements in the Top 250 this year are encouraging, and it is good to see a rise in new entries, re-entries and climbers to the league table.
Overall, there have been 17 non-movers, 32 new entries, five re-entries, 120 climbers and 76 fallers. Welcome back to Middlesbrough Football Club too, and although they have dropped a league, which will have implications for them next year, they are for this year back in the Top 250 at position 144.
There is evidence this year too of the rise of various industries in new entries to the chart. These include manufacturing, automotive, aviation and logistics. Highest new entry is fish processor Cumbrian Holdings Ltd which, despite its name, is based in Seaham. It has shot into the list at number 52.
Once again automotives, property and manufacturing/engineering sectors are prominent in the table. Newcastle-based motor retailer Vertu Motors (88) has climbed 80 places, securing the strength of its sector in the listing. Two Stockton-based companies have also scaled the table considerably.
Engineering solutions provider Darchem Engineering (116) and property development and investment company Bowesfield Investments (134) have both jumped more than 75 places.
Supporting automobile, engineering and manufacturing interests of the region is highest climber, the Tanfield Group (62). The innovative manufacturer at Washington has commendably leapt 97 places in particularly demanding times for it.
Once again four of the companies in this year’s Top 10 are listed on the London Stock Exchange.
A number of companies this year have reported their financials later than usual. So it will be interesting, both from an economic viewpoint and a reporting aspect, to see how the region will perform in 2010. Proof will certainly be in the pudding!
Tracey Wallis Million is corporate relations manager for Durham Business School, The Journal’s partner in compiling the North East Top 250.
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