Harvard Engineering features on Profit Track 100 list
Harvard Engineering features at number 27 on the Financial Times’ recent Profit Track 100 list.
The list, compiled by Oxford-based research company Fast Track, details the 100 UK-based private companies with the fastest growing profits.
The Wakefield-based LED driver manufacturer has reported annual profit growth of 77.95 per cent. Its latest profits amount to £3.4m and its latest sales figures amount to £14.35m.
John McDonnell, managing director at Harvard Engineering, said: “We are very proud to have been included in this list. We have spent the last 15 years building and investing in the business and are very grateful to our loyal customer base for our success to date.
“At the heart of this success is our commitment to re-invest in UK manufacturing and our passion for developing innovative and energy-efficient new lighting technologies, such as our coolLED LED drivers and Leafnut street lighting controls.”
The firm plans to expand abroad with new offices in Australia and mainland Europe.
Founder and managing director John McDonnell has seen profits grow on average 78 per cent a year since 2007.
Harvard Engineering featured ahead of household names such as cinema operators Vue Entertainment and fashion retailer Jack Wills.