Sourced from Insider Media News - follow link to original article
The aerospace and defence sector continues to dominate Insider’s list of the 100 biggest South West manufacturers by turnover.
However, a range of food and drink, electronics, furniture and automotive companies also feature in the 2016 edition of the Manufacturing 100 list, as revealed in the latest issue of South West Business Insider.
Aerospace giant Airbus Operations, based near Bristol, has retained the top sport for the fourth consecutive year but there is a change behind with defence manufacturer Cobham moving into second place ahead of Honda of the UK Manufacturing.
Revenue grew to £2.07bn in Cobham’s 2015 financial year, up from £1.85bn in 2014, boosted by the full-year contribution of £870m acquisition Aeroflex.
Despite its 2015 performance, Cobham has endured a difficult start to the current financial year with the recent announcement that chief executive Bob Murphy will step down from the group following a half-year loss of £38m.
The top five is dominated by aerospace and defence companies with Meggitt and AgustaWestland retaining fourth and fifth positions.
There is only one change in the top ten with medical nutrition company Nutricia moving up from 12th place to tenth. Turnover increased to £526.4m in its most recently filed accounts for the year ending December 2014, up from £489m.
One of the biggest risers on the list is office furniture maker Herman Miller which moved up to 43rd position, from 56th on the 2015 list, with turnover growing to £105.9m from £88.6m.
The company moved to a new site in Melksham during 2015 and was also named as Manufacturer of the Year at Insider’s Made in the South West Awards.
Neale Vanstone, vice president for Europe, Middle East and Africa, said: “We’ve seen great growth in Asia and in mainland Europe, which we serve from the UK. We will be looking to grow outside London. In the South West, there’s potential around the M4 corridor.”
Among the new entries on the lists is SPX Radiodetection in 97th. The Bristol-based company, which employs about 160 staff, makes electromagnetic detectors. Turnover increased from £44m to £45m in its most recent results, boosted by strong international sales.
The full Manufacturing 100 list can be found in the September 2016 edition of the South West Business Insider, available now.