Northern Ireland SMEs Experience 20% Sales Surge

2 mins read

According to the Ulster Business Next 200 report, leading small and medium-sized enterprises (SMEs) in Northern Ireland have witnessed a remarkable increase in sales, with a surge of over 20% alongside rising profits.

For over three decades, the Ulster Business Top 100 and Next 200 have been integral in assessing Northern Ireland’s business landscape.

In partnership with Go Succeed, the Next 200 highlights the achievements of Northern Ireland’s top SMEs.

Sales have soared by 21.6% to £11.3bn from £9.3bn, with profitability also on the rise by 11.2% to £771.6m from £690.4m.

Notable performances within the listing include five companies – Charles Brand Group, Circle K Energy, Kingsbridge Healthcare Group, Seatruck Ferries, and Skea Egg Farms – all boasting turnovers exceeding £100m and collectively showing a sales growth of 49.7%.

While pre-tax profits have increased by 11.2%, representing a margin of 6.8%, slightly lower than the previous year’s 7.4%, the overall performance remains robust despite economic challenges.

Analyst Jonathan Cushley commented on the encouraging performance of companies despite the challenging economic climate.

Editor of Ulster Business, John Mulgrew, emphasised the resilience of Northern Ireland’s businesses, noting their ability to perform strongly amidst various challenges.

The sponsor of the Next 200, Go Succeed, highlighted the importance of showcasing the success of Northern Ireland’s SMEs and the potential for many to break into the top 100 companies in the region.

While 21 companies within the listing experienced losses totaling £71.6m, the overall picture reflects the strength and potential of Northern Ireland’s SME sector.