The leading companies in Milton Keynes had a mixed year, with more than half showing a reduced level of EBITDA. On the other hand, around a quarter of the 50 are performing strongly in profit terms.
Our MK50 report gives a unique insight into the performance of the Milton Keynes business community. MK50 is compiled using the most recent publicly available accounts (as of January 2020) of the largest companies, based on turnover, with significant operations in Milton Keynes. The report also shines a light on the extent to which Milton Keynes-based businesses are focussing on and prospering in international markets.
Milton Keynes companies show growth at the top
Turnover for the top 50 businesses has grown by a healthy 6%, with higher growth among the largest 10 companies (8.6%), compared to the remaining 40. In overall terms, there was absolutely no change in EBITDA, however, this summary masks a mixed picture, with 60% of the businesses reporting a lower EBITDA than the previous year.
Milton Keynes-based businesses have, on the whole, enjoyed a strong year of growth as they continue to prosper in a largely robust local economy, delivering significant increases in turnover and employment. However, profit has stalled this year. Brexit and political uncertainty dominated the agenda, and many businesses experienced market weaknesses, whether that be in consumer spending and confidence, capital investment or property and infrastructure.