Suffolk's top 100 companies revealed in new report
Suffolk's top 100 businesses in 2022 have been revealed - and data from Grant Thornton LLP shows they have now bounced back from Covid-19 lockdowns to surpass pre-pandemic levels.
In its annual Suffolk Limited report, the business and financial adviser finds that operating profits surged, employee numbers rose and turnover went up at the leading 100 companies.
Compiled from the latest publicly available accounts as of November 2022, the top 100 list is ordered by turnover and features
Another important indicator of the county’s economic landscape is that average pay amongst the top 100 companies is now nearly £32,000, which is an almost 6% increase over the last year and is up by just over 11% compared to pre-pandemic levels.
Total turnover for the county’s top 100 companies reached £5.6bn in 2022, which is up 10% on 2021, with Turners of Soham Ltd, based just outside Newmarket, reporting the overall highest turnover at more than £519m.
Maritime Group reported the largest absolute increase in turnover of £111m to £416m, while Turners of Soham also posted the largest increase in operating profit at just over £29m.
Turners is now one of the largest and most successful privately run companies in the UK and operates in excess of 1,850 vehicles from 32 sites. It employs more than 3,400 people. Turners remains independent and is now under the control of co-founder Wallace Turner's grandson, Paul Day.
The three sectors employing the most staff in the county remain identical to before the pandemic, being transport & motor retail, retail & wholesale, and services.
Since 2019, transport & motor retail and services have switched positions as first and third largest employers.
Tim Taylor, Partner and Practice Leader at Grant Thornton UK LLP, said: “The Suffolk Limited report gives us a great opportunity to assess how Suffolk’s economy has fared over the past year by providing a real measure of the wealth created, retained and re-invested by the county’s key business decision makers.
“We can see that not only are Suffolk’s leading companies doing well compared to last year, but we can officially say that the top 100 businesses are now marching ahead of where they were prior to the start of the COVID-19 pandemic. This comes despite another turbulent 12 months, which is a real testament to the resilience and drive of those companies.
Rob Thomson, a Director at Grant Thornton UK LLP and head of its Suffolk Tax business, said: “Not only is turnover up to an impressive £5.6bn, but our analysis shows that there is growth in both fixed and current assets, while liabilities and overall debt has fallen. When combined with the fact that businesses are continuing to invest in infrastructure while increasing cash levels, Suffolk’s companies seem well prepared to meet the current cost-of-living challenges and inflationary pressures.”
Jonathan Agar, CEO at Birketts, said: “While the past couple of years have been incredibly challenging for businesses, it is encouraging to see that Suffolk’s leading companies have not just bounced back to where they were before the pandemic, but achieved even more growth. To have surpassed pre-pandemic trading levels proves just how resilient and stable the county’s businesses have become. There is no doubt that the next 12-24 months will be equally as testing, but these latest findings provide confidence that Suffolk’s businesses can navigate these challenges and still prosper.”
Suffolk's top 100 companies:
1 Turners (Soham) Holdings Limited
2 Maritime Transport Limited
3 East of England Co-Operative Society Limited
4 AJN Steelstock Limited
5 Marriott Holdings Limited
6 Green Label Holdings Limited
7 John Grose Group Limited
8 One Group Construction Limited
9 Hughes Electrical Limited
10 Truckeast Limited
11 Sanctuary Personnel Limited
12 Suffolk Group Holdings Limited
13 Thompson and Morgan Group Holdings Limited
14 Unity Schools Partnership
15 P Tuckwell Limited
16 Portcrest Limited
17 Sealey (UK) Limited
18 Breheny Group Limited
19 The Barnes Group Limited
20 Notcutts Limited
21 KDM Timber Limited
22 Juddmonte Farms Limited
23 Getech Limited
24 Birketts LLP
25 Don Construction Holdings Limited
26 Chevalier (2015) Limited
27 Chassis-Cab Limited
28 Ridley Godfrey (Holdings) Limited
29 Mr Fothergill's Seeds Limited
30 Rex Group Limited
31 Heathpatch Limited
32 Perrin Group Holdings Limited
33 Adventure Forest Limited
34 Tru7 Limited
35 Seven Asset Limited
36 Robinson Young Holdings Limited
37 Lignacite Limited
38 4 BG Group Limited
39 R H Claydon Limited
40 Osprea Logistics Limited
41 Troy Central Limited
42 HG Gladwell and Sons Limited
43 CATMJ Limited
44 Moores Refrigeration Controlled Transport Limited
45 Tattersalls Limited
46 Bennett Plc
47 The Bartrum Group Limited
48 Starke Industries Limited
49 Turners (East Anglia) Limited
50 The Recroot Group Limited
51 Taylor Made Joinery Interiors Limited
52 Ichiban UK Limited
53 Gressingham Smithfield Limited
54 Logistic Planning Services Limited
55 Glasswells Limited
56 GM Holdings (Felixstowe) Limited
57 Basetek Limited
58 Roger Skinner Holdings Limited
59 The Wright Buy Limited
60 SDSDAB Limited
61 George Baker Group Limited
62 Power Tool Products Limited
63 Landex Holdings Limited
64 Edison House Group Limited
65 Permastore Limited
66 Gerda Security Products Limited
67 Rockbay Capital Limited
68 Mel Aviation Limited
69 Kersey Freight Limited
70 Harrod UK Limited
71 Supreme Petfoods Limited
72 Aura Brand Solutions Limited
73 One For Fun International Limited
74 Cory Brothers Shipping Agency Limited
75 Frederick Hiam Limited
76 Portable Space
77 Jack Brand Limited
78 Badger Building (E Anglia) Limited
79 Specflue Limited
80 Cheveley Holdings Limited
81 Bacton Transport Services Limited
82 Brooks and Wood Limited
83 Churchmanor Holdings Limited
84 P H Betts (Holdings) Limited
85 Global International Trading Limited
86 Eurogroup International Movers Limited
87 Juuce Limited
88 DW Group (Anglia) Limited
89 Marton Geotechnical Services Limited
90 HTG Trading Limited
91 I S & G (Holdings) Limited
92 Global Chair Components Limited
93 R P Valves Limited
94 ANT Group Limited
95 Seckford Wines Limited
96 Goldwing Cable Limited
97 The Seckford Foundation
98 Anglia Freight Limited
99 Eastern Concrete Limited
100 Movac Group Limited
