14/10/2011 - Sunday Times Fast Track 250

For the fourth year in a row, Thomas Vale Construction has improved its national and international standing in The Sunday Times Top Track 250 – featuring as one of only ten companies from within the West Midlands to make the list.

The report, due to be published this Sunday, identifies Britain’s largest privately owned companies through either sales or operating profits.

Thomas Vale Construction and other Midlands-based companies feature on the league table alongside household names such as Harrods, Harvey Nichols, Selfridges, Virgin Active, Arsenal Holdings, Nando’s, Manchester United, Paul Smith and Schuh.

Tony Hyde, Group Managing Director, Thomas Vale added:

“To continue to be identified as one of the country’s leading companies is an excellent accolade for the business, specifically with regards to the private sector growth. Our focus on emerging markets and diversification has served us well as a business and we will continue to align our strategy and aspirations, alongside those of our own employees, clients and stakeholders.”

The business first profiled in the supplement in 2008, where they were placed at 199^th. With continued, controlled organic growth, the company has since stormed up the league table and will feature in the 2011 publication at 133^rd.

Corporate financial stability was again improved in the financial year end to March 2011, with the implementation of key new business involvements, markets and investment in innovation being critical in ensuring their market leading position.

Turnover for the year was increased by 28% to £251.6million (2010 £196.4million) with profits before tax standing at £3.9million. The net asset value increased by a staggering 264% to just over £24.6million (2010 £6.8million) and year end cash balances increased to £21million (2010 £17.8million), the group has no borrowings.

Stuart Grant, UK head of Corporate & Structured Banking at HSBC, the title sponsor of the league table since its inception seven years ago, praised the region’s mid-market stars:

“It is great to see a significant number of privately-owned companies in the Midlands – including many which HSBC has helped to support – making such a positive contribution to the economy despite tough trading conditions.”

Midlands' companies featured on the list achieved combined sales of £7bn in their recent annual accounts and employ 32,300 staff in total - up from 1,400 the year before.

The notification of the Fast Track 250 achievement follows the other recent success of The Birmingham Post's Top 100 in Construction - where Thomas Vale featured at number 6 - higher than companies such as Willmott Dixon, Stepnell and Bullock Construction.

The list is compiled by Oxford research business Fast Track and sponsored by HSBC and Grant Thornton.