Mainserve Engineers Ltd, with annual sales growth of 571.9%, has been identified as the fastest-growing forklift company in the United Kingdom.

Other companies with strong growth include Haydock Forklift Services Ltd (218.0%), Hawthorne Plant and Vehicle Sales Ltd (130.3%) and Wordsworth Holdings Plc (61.5%), according to a ranking produced by Plimsoll Publishing Ltd.

The 510-paged UK Fork Lift Trucks industry: A comprehensive financial analysis of the top 400 companies uses a Plimsoll-developed model to analyse the "commercial and financial strengths" of forklift companies.

Plimsoll defines commercial strength as the percentage sales growth of a company while financial strength is based on an analysis of four years of a company's financial data.

Based on percentage sales growth, Plimsoll has also identified Lancer Sideloaders Ltd (57.2%), BLC Sales & Hire Ltd (56.1%), Cascade Kenhar Ltd (43.4%), Cesab Ltd (41.6%), Kent Fork Lifts Ltd (37.7%) and Nasus Mechanical Handling Ltd (36.6%) among the UK forklift industry's top 10 fastest growing companies.

One in three of the 400 companies analysed recorded a fall in sales with an average drop of 21%.

The average increase in sales was 11% for the rest of the companies. Generally, larger companies grew at 7.6% while smaller companies grew at 1.4%.

According to Plimsoll, the success rate of a company is not automatically affected by market conditions but depends on other things like good margins, low borrowing, responsible management and foresight.

The study provides a 10-year sales growth trend analysis, a ranking table of the fastest-growing UK forklift companies and a list of the top 50 companies by market share.

Email enquiries@plimsoll.co.uk for a copy of the study. Quote discount code PR05 to get a 20% discount.