FAMILY-owned firms make up the majority of the top locally controlled businesses in the north, new research shows.
Businesses owned and operated by families make up 79 per cent of the IoD's Top 100 list, with nine of the top ten family owned.
Newry-based veterinary pharmaceuticals firm, Norbrook Holdings was named top for the first time in the rankings. Established in 1969, it remains in the ownership of the family of the late Lord Ballyedmond.
In addition to a number of manufacturing sites and new laboratory facilities in Northern Ireland, the group also has production capabilities in the Republic and Nairobi, Kenya.
Norbrook pushed grain producer W&R Barnett into second spot, with fast food franchise operator, Banner Dell (KFC) rounding out the top three.
Pharmaceutical giant Almac Group (fourth), food and drinks business, SHS Group (fifth) and retail group Henderson (sixth) also feature within the top 10 on the list.
Other companies to make the top 10 were from a diverse range of sectors and included; LCC Group, FP McCann TG Eakin and Clearway Holdings.
Sales at the Top 100 companies, which collectively employ 55,000 people, grew by an average of 15 per cent over the year to £12 billion, with almost three quarters (70 per cent) of firms reporting growth in the past 12 months.
Angela Keery, tax director at list sponsor BDO Northern Ireland believes the rankings show the value of family-owned companies.
“Family owned businesses make up the majority of locally controlled firms on the list, many of whom have transitioned from one generation to another," she said.
"This indicates that these companies are performing at higher levels than expected and are facing many challenges head on. It also demonstrates that there is a wealth of businesses with the ambition to develop new ideas and embrace opportunities to scale up to new levels of success."
