Hull businesses leading recovery

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Published: Tuesday 9th June 2015 by The News Editor

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Business is booming in Hull as the influence of the burgeoning economy stretches far and wide.

Advisory firm BDO reveals the city is home to 13 of the top 250 companies in Yorkshire, which have seen collective revenues pass £100 billion.

Companies in the region have more cash in the bank, according to the report, while employment and overseas sales are also on the rise – particularly mid-market firms that are stealing the spotlight from their larger counterparts.

Hull is one of the cities where businesses are beginning to find their feet and leave bad memories of the recession behind.

The top 250 companies in Yorkshire have increased revenues by £6 billion to £102 billion, with £3.2 billion in the bank.

Pretax profits for the select group, excluding Asda and Morrisons, jumped to £2.1 billion – up by a whopping 46.7% – while they reportedly created around 13,000 jobs in the time period BDO was analysing.

Turnover, export and workforce numbers have all grown faster in mid-market firms than in bigger businesses. Employment levels are up 11.6% and exports have increased 19.3%, compared to just 3.6% in large companies.

Copyright Press Association 2015

Published: Tuesday 9th June 2015 by The News Editor

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