Gloucestershire businesses continue to grow and thrive in 2022, with SoGlos shining the spotlight on 10 companies in doing everything from home entertainment systems to cyber; manufacturing to milk delivery; and construction to engineering.
Smart Home Sounds
Fans of Gloucester Rugby who enjoy following the fortunes of past players will probably be aware of Smart Home Sounds - the tech firm established by Andy Hazel in 2013. Far from trading off his name and connections, the former player has sought to establish a business based on quality service and products; the latter being speakers, in-home entertainment and more recently televisions. It’s estimated turnover will grow 15 per cent this year to within the region of £6 million to £7 million.
Core to Cloud
Core to Cloud hit headlines in October 2022 when it walked away with a SoGlos Gloucestershire Business Award – rather fittingly for growth! James Cunningham, who has been named as one of the UK's top 50 business leaders, co-founded the Cirencester firm in 2015 with Mark Liddle and has seen turnover grow more than 130 per cent year on year since then. Last year’s turnover was £4.9 million and it had already exceeded that turnover by April this year.
In October 2022, one of Gloucestershire’s biggest building firms, Barnwood Construction, revealed it had passed £100 million turnover. It was a major boost for the Barnwood headquartered firm, which like all in construction, had suffered during the pandemic. Barnwood Ltd reported a turnover of £101.5 million, up from £64.4 million the year before. The group was founded 60 years ago and is made up of three divisions – construction, shopfitting and general works.
In March 2022, Cheltenham firm M&M was celebrating a dramatic turnaround in its business. Chani Martin founded the firm 20 years ago as a business she could fit around family life, but when the pandemic wiped out her core market – supplying branded clothing and promotional products for trade shows, exhibitions and events – it looked desperate. Clever repositioning saw profits grow by 150 per cent from its pre-pandemic rate, creating two new jobs, too. She predicts a turnover of £500,000 in 2022 increasing to £1 million within the next three years.
In Prima Dental's own words, its recovery since Covid-19 has been ‘exceptional’, with 2022 being a record year. Turnover grew to £30 million and Alun Jones, group managing director for the Gloucester-headquartered manufacturer and exporter of dental burs, revealed new incoming business was about to trigger a £7 million investment in its Quedgeley factory, boosting production by another 15 per cent.
In March 2022, hot on the heels of a management buyout, one of Gloucestershire’s biggest construction sector firms, electrical contractor Clarkson Evans, revealed its latest annual report. It showed an increase in turnover of 16 per cent to £62.2 million, as it continues to work its way back towards its pre-pandemic levels of £65 million in 2019. Profits after tax were also up – from £510,093 to £2.6 million.
In July 2022, the winner of this year’s SoGlos Gloucestershire Business Awards Business of the Year category, Cotteswold Dairy, announced a £10 million increase in annual turnover to £68.2 million. The Tewkesbury firm also won the QuoLux-sponsored Family Business of the Year category at the SGGBA event. Staff numbers at the firm also rose from 375 to 419 for the year to January 2021.
Rising star of engineering, international success story and another two-time winner at the SoGlos Gloucestershire Business Awards in 2021 and 2022, ALS Mechatronic continues to achieve growth, growth and more growth. As of April 2022, its order book had already reached its total revenue for 2021 - £3 million - and by the end of its current financial year, it expects to more than double its 2021 revenue to £6 million. It predicts growth will hit £25 million in the next five years.
Software firm Ripjar revealed in August 2022 that its turnover had risen 12 per cent through 2021 to £8.86 million. The Eagle Tower-headquartered business founded by former GCHQ staff also won £28 million of Series B funding, led by specialist fintech investor Long Ridge Equity Partners. Turnover for the year had increased 12 per cent from £7.9 million in 2020 to £8.86 million in 2021 and staff numbers grew from 69 to 95.
In March 2022, worldwide engineering giant Spirax Sarco's just-published annual results showed the Cheltenham-headquartered business was not only over the worst of the pandemic, but already exceeding pre-Covid levels of income. Operating profit increased by 29 per cent from £249 million to £320.9 million and turnover was up by 13 per cent from £1,193.4 million to £1,344.5 million for 2021. Strong growth was predicted for 2022 too.