Hardwood furniture retailer Oak Furniture Land has won the outstanding achievement award at the Sunday Times Virgin Fast Track 100 awards.

The 19th annual award ceremony, held at Sir Richard Branson's family home in Oxfordshire, celebrated the achievement of Oak Furniture Land, among other companies, with the event raising over £120,000 for charities benefiting young people, with the total raised by Fast Track 100 entrepreneurs over the last 11 years up to £2.3m.

Oak Furniture Land, which has seen company sales increase by an average of 42% a year for the past three years, has become the only business to rank in the Fast Track 100 table for a fifth time.

Collecting the award was Jason Bannister, Oak Furniture Land managing director, who said: “Receiving this Fast Track 100 award is something that I'm really proud of. I would like to thank my staff."

Sir Richard Branson paid tribute to Oak Furniture Land and the other winners on their success, stating: "British entrepreneurs are what powers our nation.”

Hamish Stevenson, founder & CEO of Fast Track, added: "Oak Furniture Land is a fantastic British success story, and one of only four private companies to have appeared on our Fast Track 100 five times. Its performance is all the more impressive given that it has grown sales, profits and its workforce so quickly during particularly tough trading conditions and is forecasting further growth to come."