Lovehoney has been named among the top 100 fastest growing British companies in the 17th annual Sunday Times BDO Profit Track 100. Published on April 10th, the league table ranks private businesses with the fastest-growing profits over three years. Lovehoney is ranked at number 94 nationally and number nine for the South West region after a 56% rise in profits to £3 million.
The Bath-based business has launched US, Australian, French, German, Canadian and EU websites over the last two years and has benefited from the popularity of Fifty Shades of Grey, of which it holds the worldwide license for pleasure products.
Lovehoney co-founder Neal Slateford said: “This announcement is very exciting for us and we’re thrilled to have ranked in such a prestigious league table. Seeing Lovehoney grow so quickly has been incredible and a very exciting journey for everyone involved. The last couple of years have been fundamental in solidifying Lovehoney as a household name both in the adult industry and the mainstream alike.”
The league table and awards programme is sponsored by BDO and UBS Wealth Management, and is compiled by Fast Track, the Oxford-based research and networking events firm.
Andrea Bishop, partner and head of the southwest at BDO, the title sponsor of the league table, said: “Medium-sized businesses across the UK are thriving, creating one in four jobs and responsible for one third of the country’s total revenue. They are seizing the opportunities a recovering economy presents and the most profitable have remained focused on sustainable growth through investment in innovation, diversification and overseas expansion.”
The full league table was published as a six-page broadsheet supplement with the business section of The Sunday Times on 10th April and it can also be seen at www.fasttrack.co.uk