Andrew Nisbet, the founder of catering equipment supplier giant, Nisbets, has climbed this year’s Sunday Times Rich List, which was published yesterday.
In this year’s analysis of the top 1,000 wealthy individuals in the UK, Nisbet and his family ranked as 265th, up from last year’s equal 268th placing. Accordingly the Rich List estimated the Nisbet wealth as £525m, rising from the previous year’s £500m.
However, the latest published figure is based on 2018’s accounts for Key West Holdings, Nisbets’ parent company, and does not reflect the financial impact of the current coronavirus crisis.
A spokesperson for Key West Holdings, said: “The industry is going through a historically difficult period at the moment, and it would be difficult for these figures to reflect the current challenges that the retail and hospitality industries are facing.”
Nisbet and his family also made a first appearance on the Sunday Times’ Giving List, chronicling the amount given to charity by the UK’s top 200 philanthropists.
Out of the £525m of the family’s reported wealth, they donated £2m over the course of the last year, with the main beneficiary sectors recorded as youth, education, unemployment and social.
Donations were made through the Nisbet Trust, which supports projects and initiatives in the Bristol community and the south west.
The Nisbets company revenue was £398.1m for the 12 months to 31 December 2018, with 2019’s results yet to be published on Companies House.