Wellocks named one of UK’s fastest growing companies
Wellocks has been named one of the UK’s top 1,000 fastest-growing and dynamic companies by the London Stock Exchange Group (LSEG).
Co-sponsored by the Telegraph and released today, the LSEG report ‘1,000 Companies to Inspire Britain 2017’ recognises the ’engines’ of the UK economy by identifying top performers in the small and medium-sized enterprise sector. To make the list, Wellocks demonstrated sustained revenue growth over a three-year period and outperformed its competitors. Wellocks’ revenue has grown from £32.6 million in 2014 to £46.2 million in 2016.
James Wellock, managing director, Wellocks said, “To be recognised in this way is an inspiration for the Wellocks team. It’s amazing to think back to where we were and all of the hard work we’ve put in to build Wellocks’ reputation for sourcing and delivering the perfect ingredients to chefs. It’s a recipe we’ve taken nationwide and we constantly seek ways to do it better or differently. This has fuelled our growth in a competitive sector and now we’re gearing up for more.”
To help the company meet this increased demand, it is adding 20 new Mercedes Sprinter vans to a delivery fleet that now numbers 126, enabling Wellocks to add more routes to its network.
Wellocks recently renovated a 20,000 sq ft building adjacent to its HQ to serve as a new fresh produce preparation centre – another fast growing revenue source – and installed a second conveyor belt. In March, it launched a unique live stock ordering system for chefs to save time and money. It improves efficiency and sustainability by eliminating the need for costly second deliveries.
Xavier Rolet, chief executive, London Stock Exchange Group said, “Four years on, LSEG’s ‘1000 Companies to Inspire Britain’ report continues to highlight the dynamic, entrepreneurial and ambitious businesses across the country that are boosting UK productivity, driving economic growth and creating jobs. The strength and diversity of these companies is readily apparent with a broad mix of UK regions and sectors represented. These companies are the very heart of an ‘anti-fragile’ economy: more robust; more flexible and less prone to boom and bust. We must ensure we continue doing all we can to support high growth potential businesses like these.”
The food and beverage sector was highlighted as one of the fastest growing sectors in the report – and one of the most innovative, bringing 16,000 new products to market and investing over £1 billion in innovation every year. The sector’s gross value add to the UK economy is £21.9 billion a year.
To find out more about the London Stock Exchange Group’s ‘1,000 Companies to Inspire Britain 2017’, click here.