Three Welsh businesses, including one based in Gwent, have been named on the 16th annual Sunday Times BDO Profit Track 100 league table, which ranks Britain’s private companies with the fastest-growing profits over the last three years.

The three companies headquartered in Wales (compared with two last year) have made a strong contribution to the economy, together achieving combined profits of £13m and employing 1,100 staff, having added 300 jobs in the last three years.

Wales’ highest ranked company, making its debut at No 29, is family-owned Edwards Coaches based in Pontypridd. The tour operator and coach hire business has a fleet of 230 coaches driving 7,000 children to school each day and 80,000 people on holiday every year.

Mike Edwards, 66, is the fourth generation to run the business, which he does with the support of his children, and profits rose an average of 76 per cent a year to £3.1m in 2014.

The other two companies to make the list are both car dealers and also feature for the first time.

MON Motors Group, which has branches in Newport, Cwmbran and Chepstow, as well as further afield, was established in 1971 by managing director Jeff Cleverly, 64, and his wife Mary.

It has 10 showrooms in South Wales and west England, and profits rose an average of 65 per cent a year to £4.3m in 2013.

The third firm was The Trade Centre Wales which has two car supermarkets with a third due to open in Cardiff this year. Profits rose an average of 75 per cent a year to £5.6m in 2014.

Andrea Bishop, partner and head of Wales at BDO, the title sponsor of the league table, said: “Medium-sized businesses in Wales and across the UK are thriving. Wales’ most profitable companies have remained focused on sustainable growth by making intelligent investment decisions in innovation and overseas expansion.”