Newport-based firm JoJo Maman Bebe has been revealed at the highest ranking Welsh firm on the seventh annual Sunday Times HSBC International Track 200 league table.

The league table ranks Britain’s mid-market private companies with the fastest-growing international sales.

There were three companies from Wales on the list, compared to five last year.

Each have made a strong contribution to the local economy. Their international sales have grown by an average of 40 per cent a year over two years to a total of £23m, and together they now employ 1,780 people.

Managing director of JoJo Maman Bebe, Laura Tenison set up the maternity and baby wear brand in 1993 with £50,000 from the sale of her first business. The firm’s turnover reached £44.7m last year, with expansion in the US driving exports to £3.7m.

The other Wales businesses on the league table were Crickhowell-based Notemachine, one of Europe's largest ATM businesses and, which is based in Flintshire.

The companies in Wales appear with businesses from around the UK, including women's sportswear retailer Sweaty Betty, health and beauty products manufacturer Neal's Yard Remedies, travel search engine Skyscanner, and sandwich shop chain Pret A Manger.

The league table reflects the importance of Europe to Britain’s mid-market exporters ahead of the UK’s EU referendum on 23 June. More than three quarters of the companies (166) sell to the continent, the most popular market, followed by North America (108) and Asia (88).

Amanda Murphy, UK head of corporate banking at HSBC, said: “The Sunday Times HSBC International Track 200 is a great reflection of the value of building connections overseas. The world is getting smaller and for ambitious businesses, the opportunities to source goods and services and to grow organically via international trade, digitally or on the ground, are easier than ever. I'm delighted to see so many HSBC-backed mid-sized firms making such a strong impression on the world stage."