Over a third of Scotland’s top 500 companies see revenue fall year-on-year
Latest Scotland 500 analysis shows 35 per cent of firms have seen revenues fall
More than a third of Scotland's largest companies have seen revenues fall.
The latest Scotland 500 dataset shows 175 of the 500 firms, 35 per cent, posted a turnover decline over their last two reporting periods, with 80 companies down more than 10 per cent year-on-year.
On the flip side, 313 companies (63 per cent) grew turnover, and 150 delivered double-digit gains. A total of 12 firms did not have comparable accounts available.
While the majority of firms have seen revenues increase, the scale of the decline is significant, and confirms what has so far only been anecdotal from business owners and directors.
The growth end is led by Motel One (Scotland), up 380 per cent to £28.53m, and Topek Southern, up 227 per cent to £37.05m, both scaling off a low base. At real scale, GE Caledonian's turnover rose 61 per cent to £951.54m.
Many of the fastest-growing firms share an acquisitive, export-facing profile, while efficiency is proving just as decisive.
Cirrus Logic International generates £10.4m per head from just 144 staff, followed by Neo Next + Energy (£7.6m) and VPI Power (£6.7m).
Corporate activity is reinforcing the split. Harbour Energy's $3.2bn LLOG acquisition and FirstGroup's £3bn London Overground contract both extend Scottish-headquartered groups into new markets, while Peak Rock Capital's buyout of J.R. Dalziel signals continuing private equity appetite for Scottish food and drink manufacturing.
But for every First Tech, up 26 per cent to £72m on acquisitions, there is a comparable-sized firm moving the other way.
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