Business at McLaren Automotive continues to boom, with the company currently running in profit for four of the six years since its formation. Now, its accelerating growth has been recognised by a leading survey of growing British companies.
The Sunday Times Top Track 250 ranks UK firms by sales, growth and profitability – and in 2017, McLaren has been placed number 1 in the renowned survey.
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It comes as the Ferrari and Porsche-rivalling sports car firm continues to prove its strong business credentials with ever-improving annual results. 2016 operating profit, for example, was up to £65.8 million, a 180 percent increase over 2015 and a figure that represents a 10 percent margin.
Overall sales also rose 44 percent to £650 million, while the 2016 sales total of 3,286 cars was another record output from the firm’s 2,100 employees.
“Following a record 2016 and successful new product launches this year, to be ranked top of the Top Track 250 is fantastic further recognition for McLaren Automotive,” said McLaren CEO Mike Flewitt.
“It’s also testament to each and every one of our dedicated and skilled 2,100 strong workforce, and indeed our valued global partners and dedicated suppliers, that we have been able to achieve this and something we should all justifiably be proud of.”
McLaren Automotive is now the biggest single component of the recently-established McLaren Group, which also includes the famed (but currently struggling) Formula 1 team and a technology division.
And it’s not going to stop there: the target for 2022, as part of the Track22 business plan, is to produce more than 4,500 cars a year, half of which will have some form of hybrid tech. A total of 15 new models and derivatives between now and then is how McLaren will do it; the first of the 15 is the new McLaren 720S.
2016’s boost in profit hasn’t come at the expense of investment in these future models, either. Of those £650 million sales, almost £130 million was invested in new cars…