Food and drink industry top performer in Scotland

Food and drink businesses are among Scotland’s top performing private sector firms over the past 12 months, according to an annual review of the country’s top 100 private firms by Grant Thornton.

The annual Scotland Ltd report assesses the commercial performance of Scotland’s top limited businesses. This year’s report shows that Scotland’s private food and drink companies saw an increase in operating profit by 15%. The combined average salary in the sector also rose by 30%.

The overall financial statement of the country’s leading private food and drink firms shows that a workforce of 18,680 people helped generate revenues of £4.1 billion, with an operating profit of £520 million, representing a 14% operating margin.

James Chadwick, head of food and drink, Scotland at Grant Thornton, says, “In recent years we have seen Scotland’s food and drink sector continue to grow and this momentum has continued throughout 2015.

“Amid some of the most politically and economically challenging global conditions, the industry has remained completely focused on positive, sustainable growth. Businesses have demonstrated a commitment across the industry to collaboration, which has gone a long way to positioning Scotland as a global leader in food and drink.”

James Withers, chief executive of Scotland Food and Drink, adds, “The findings emphasise the impact that the sector is having on Scotland. It is underpinning sustainable growth and food and drink manufacturing is now recognised as a real engine room for our whole economy.

“Continued ambition alongside deeper collaboration and innovation will be critical to the sector maintaining its current momentum.”