Recent study recognises growth of Merritts

June 10, 2015 1:41 pm

Merritts Global Machinery Logistics

A thriving company based in Kirkby-in-Ashfield has been hailed as one of the fastest growing operations in the East Midlands for the second year running.

Merritts, of the Lowmoor Business Park, are specialists in the lifting, transportation, installation, removal and storage of manufacturing machinery and production equipment.

The firm employs between 30 and 40 local people, and its customers range from small-to-medium-sized enterprises to global organisations.

Now Merritts have been recognised again in a study, based on profit growth over a three-year period, that has been carried out by Grant Thornton, a leading financial and business adviser.

In a list of 200 companies, the Kirkby firm has risen from 78th position to 32nd and has been praised for “making a significant contribution to the success of the East Midlands”.

“I am extremely proud,” said co-owner James Merritt. “It gives a great sense of satisfaction to know that all the hard effort we put in is delivering a successful outcome.

“We have taken on an increased number of large-scale projects, which has enabled us to invest in more resources. We have further scope to expand and plan to build on this momentum.”

Of the 200 businesses analysed, the average profit-growth before tax was 81%. Merritts have generated growth in numerous ways, including diversification into new markets, investment in new equipment and hiring more sales personnel.

Nottinghamshire has the highest representation on the list of any county with 55 businesses currently registered. Nottinghamshire also has the fastest average rate of profit growth of any county at 35% per annum.

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