Norbrook gets top spot in Top 100 Locally Controlled NI Businesses

Posted by
info@newrytimes.com
Thursday, May 9th, 2019
Business, Community

Local Newry based firm Norbrook Holdings has been named number one in a list of the Top 100 Locally Controlled NI Businesses sponsored by BDO Northern Ireland.

Businesses owned and operated by families make up 79% of the list with 9 out of the Top 10 all family-owned firms.

 

 

Norbrook Holdings is one of 11 Newry based businesses to make the list with First Derivatives making the top 20.

Other local businesses to make the list include, MJM Marine, Mac-Interiors, Regen Waste Holdings, Haldane Shiells Group, Murdock Builders Merchants, Felix O’Hare & Co, Fiveways shop & service station, Autoline Direct Insurance and Surefreight Ltd.

Sales at these top performing companies grew by an average of 15% with 70% reporting growth in the past twelve months and an increase in their revenues, with profits ranging from approx. £2m to £49m.

Collectively they contributed £12billion in annual turnover to the local economy and employed 55,000 people.

 

 

Local Newry based company, Norbrook Holdings named top for the first time, who after 50 years, remains a family owned business, with the family of the late Lord Ballyedmond retaining ownership.

The Top 100 list is used to identify and celebrate the success of locally owned businesses in Northern Ireland, many of whom have been successful in global markets, all from a foundation built in Northern Ireland.

Other companies to make the Top 100 included W&R Barnett, Banner Dell, Almac Group (the only non-family owned business in the top 10), SHS Group and Henderson Group.   

 

 

While headquartered in Northern Ireland Norbrook Holdings have globally diversified across mature and emerging markets.

In addition to a number of manufacturing sites and new laboratory facilities in Northern Ireland, the group also has production capabilities in ROI and Nairobi, Kenya.

Norbrook products marketed in over 100 countries worldwide and in recent years, focus on the US market has delivered above market rate growth in this region.

Angela Keery, Tax Director with BDO Northern Ireland commented, “These ambitious, fast growing companies reflect the rich diversity of business in Northern Ireland, from well-established family-owned companies to the emergence of dynamic new businesses who have identified new markets and customer bases to target.

 

 

“Family owned businesses make up the majority of locally controlled firms on the list, many of whom have transitioned from one generation to another. This indicates that these companies are performing at higher levels than expected and are facing many challenges head on.

She added, “It also demonstrates that there is a wealth of businesses with the ambition to develop new ideas and embrace opportunities to scale up to new levels of success.”

Liam Nagle, CEO of Norbrook Holdings, shared some of his thoughts on what businesses should be doing to ensure their continued success. “Encourage all staff to work in and on the business, management have the responsibility to continually improve the business and leave it in a better place on a Friday than it was on the Monday.

“Businesses should use benchmarking, to understand what good is, where the business is and therefore what they should be aiming for,” he added.

 

 

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