RIXONWAY KITCHENS LISTED 36th IN SUNDAY TIMES PROFIT TRACK 100
Rixonway Kitchens has been listed 36th in the Sunday Times Profit Track 100 - and third in its home region of Yorkshire in a list of private companies with the fastest-growing profits in Britain.
Rixonway, one of the leading kitchen manufacturers working in affordable and social housing, has been featured in the Sunday Times Profit Track 100 league table which ranks Britain's 100 private companies with the fastest-growing profits, based on their latest 3 years of available accounts.
The 450-strong company earned its ranking after defying the downturn seeing revenues increase by 23% in 2009/10 to £28.8m and recording an EBITDA (Earnings before interest, tax, depreciation and amortisation) of £5.1m.
Chief Executive Paul Rose said: “We are delighted to have received this recognition in spite of tough economic conditions. Our results have been excellent over the last year which is down to the hard work of the whole team. I would like to extend my personal thanks to every one of them and look forward to a successful 2011 for everyone.”
Despite tough economic conditions, the 100 companies on the league table grew their profits over the last three years by an average of 72% a year to combined profits of £1.2bn in their latest available audited accounts. Together they employed 82,250 staff, having added 22,350 employees to their workforce during this time – some as a result of acquisitions.
Rixonway has continued with a programme of capital investment despite the economic environment. The recent addition of bespoke systems and equipment includes Preactor, to increase efficiencies, and deliver time and cost savings to clients and dust extraction system ‘Ecogate’, which has dramatically reduced its carbon footprint.
Rose added: “Over the last six years our focus has been on innovation, reliability and further improving our service. Our success in delivering this has secured many new contracts and has created excellent relationships among those who provide and maintain affordable and social housing stock. It is this to which we really owe our significant growth and record turnover and profit”