Muntons and Bennett Homes listed in Sunday Times BDO Profit Track 100 for fastest growing profits
Stowmarket-based malt manufacturers Muntons has come sixth in a recent league table of fastest growing private companies.
It is among four companies in the East who are new entrants to the Sunday Times BDO Profit Track 100 table.
Also ranked is Nowton housebuilder Bennett Homes.
Muntons employs 315 staff and supplies clients including Carlsberg and Kellogs. Last year it started a joint venture in Asia. Its annual profit growth over three years is 129 per cent with an operating profit of £9million, year end January 2016. It is the highest ranking company in the East of England in the league table. The company produces 200,000 plus tonnes of malt and malted products a year.
Bennett Homes showed an annual profit growth over three years of 75 per cent and operating profit for year end December 15 at £3 million. The family run company employs 44 people and has been operating for 65 years. It currently has eight new housing developmennts in East Anglia and is ranked 57 in the league table which was published in the business section of the Sunday Times on Sunday,
Andy Janes, Muntons marketing manager, said: “We have grown significantly over the last 20 years or so and are now manufacturing in Thailand with offices in the US. We are known around the world and are a British company who uses British raw materials to export globally.
The company has factories in Stowmarket and Bridlington sourcing most of its barley from within 50 miles of the maltings.
Mr Janes said: “We are very proud to have achieved this recognition. It is challenging times particularly with Brexit and its implications. We look toward a fair outcome for mid-sized companies such as ourselves.”
Edward Parker, managing director of Bennett Homes said: “This is testament to our skilled and loyal team. This year marks our 70th anniversary and this accolade adds to our portfolio of success which includes winning House Builder of the Year for the fourth time.”