Changing landscape prompts list overhaul of Yorkshire’s top firms

Turbulent markets have shrunk the number of plcs in Yorkshire since the YP75 was initially founded a decade ago as an index of the region’s 75 biggest listed companies.

Now the Yorkshire Post is relaunching the list as YPQuoted, comparing the progress of the 50 leading Yorkshire plcs.

The list, sponsored by wealth manager Brewin Dolphin, includes changes to share prices, price to earnings ratios, market capitalisations and yields.

Matthew Wells, divisional director of Brewin in Leeds, who created the YP75 index, said: “The UK stock market has seen a great deal of change over the last ten years, with two significant economic downturns, and this has been reflected in the changes in the YP75.

“More than 50 per cent of the founding companies are no longer quoted. Although some have been successfully taken over such as Kelda, C D Bramall and ICM Computer, many have ceased being quoted in more unfortunate circumstances.

“The banking sector once dominated the region and the falls of both the Halifax and Bradford & Bingley really impacted the region.

“Both Leeds United and Sheffield United used the market as a method of company ownership but both teams and companies have since found alternative ownership structures.”

The original YP75, launched in 2002, featured companies including Richmond Foods, Cattles and Northern Foods.

Leeming Bar-based Richmond left the stock market in 2006 when it was bought by US private equity firm Oaktree Capital for £182m and merged with French firm Roncadin to form R&R Ice Cream, Europe’s largest ice cream manufacturer.

Leeds-based pizza and pie maker Northern Foods also left the stock market, when it was bought last year by poultry entrepreneur Ranjit Singh Boparan in a £342m deal.

Sub-prime lender Cattles was one of Yorkshire’s biggest financial casualties during the recent downturn, brought to its knees by a long-running accounting scandal. It was taken private early last year, and its loan book is being collected in.

However, Mr Wells said YPQuoted also reflects the success of some of Yorkshire’s more innovative firms.

“Large company stalwarts such as Morrisons and Provident Financial managed to trade through the past decade and appear on a solid footing,” he said.

“We have seen a number of the region’s companies such as Croda, Carclo and Fenner grow from being regional to national and now to international champions in their respective niche fields.”

The list also includes more than 30 new stocks which have joined the index since its launch.

“It’s the only one-stop-shop to give access to Yorkshire’s biggest companies,” said Mr Wells.

The re-launch of the column coincides with Brewin celebrating its 250th anniversary. Its Leeds office can trace is heritage back to 1908 with the formation of Wise Speke.

The investment management office became part of Brewin Dolphin in 1998 following the acquisition of Wise Speke. A further acquisition of local broker Broadbridge was completed in 2000, followed by a new team joining in 2001.

Subsequent investment management teams joined in 2008, 2009 and 2011.

William Baker, regional director for the north, said: “The Yorkshire based offices make a significant contribution to group revenues and are an important part of the branch network.”

The Leeds office now has more than 40 staff specialising in wealth management and financial planning for individuals, families, businesses, charities and trusts across Yorkshire. Combined with its offices in Bradford and York, it manages £1.5bn across the region.

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