Suffolk’s top 100 private companies where wages have risen by a whopping 8%
Suffolk’s leading privately-owned businesses raised salaries by eight per cent in the last year, according to new data.
The Suffolk Ltd report shows the average salaries across the 35,808 employed by these companies, rose from £33.9k in 2023 to £36.6K, in 2023.
The annual report, now in its 23rd year, ranks the top 100 private companies in the county according to turnover using the most recent publicly available accounts as at August 1, 2024.
Produced by business advisors Grant Thornton UK LLP in partnership with law firm Birketts LLP, the report also highlights the resilience and adaptability being demonstrated by these firms.
According to the Office for National Statistics, annual average regular earnings growth for the private sector was 5.4 per cent and for the public sector was 4.3 per cent.
Suffolk private companies meanwhile improved turnover by 5.8 per cent despite the economic uncertainties and evolving market dynamics of the last 12 months.
The turnover range spans £19.2 million to £600 million and collectively amounts to £6.9 billion of sales.
EBITDA (earnings before interest, taxes, depreciation, and amortisation) totals £665.7 million has seen a slight decline of 1.2% over the period, further reflecting the pressures on profitability that many Suffolk businesses are experiencing, even when sales figures have progressed, say the report authors.
The Top 100 is led by two transport and logistics companies – Turners (Soham) Holdings Limited and Maritime Transport Limited.
But the report shows the largest sectors by number of companies and turnover are consumer products – 36 companies, with a collective turnover of £3.3 billion; services – 21 companies with £1.3 billion; and real estate and construction 21 companies with £1.1 billion.
The greatest concentration of Top 100 is in Ipswich, which leads the way with 38 private firms, followed by Bury St Edmunds with 18. The next three are Newmarket (7), Eye (6) and Felixstowe (5).
Suffolk Ltd also identifies the 50 fastest growing firms, businesses with a plus-£10 million turnover that have achieved the highest year-on-year sales growth.
They are led by Bungay-based Transam Trucking Limited, which provides haulage and logistical services to some of the biggest names in the entertainment industry.
A local supplier to global industries, R P Valves Limited is ranked in second place.
The 25 largest subsidiaries of internationally owned companies by turnover in the county are also featured.
These are led by the hospitality group Greene King Limited, and the agricultural suppliers Forfarmers UK Limited, both of which operate from bases in Bury St Edmunds.
Tim Taylor, practice leader for Grant Thornton UK LLP in East Anglia, said: “Economic growth is a huge national priority but achieving it over the last 12 months has proved challenging in many parts of the UK. Wage inflation is a powerful dynamic, and the battle for talent remains a key challenge for many companies, alongside the increasing costs of other essential resources.
“In this climate, the success of the Top 100 shows the importance of having a diverse and resilient business landscape. That’s something we are blessed with in Suffolk, with sectors such as motor retail, transport, and logistics playing pivotal roles in providing employment and skills opportunities alongside more established sectors such as agribusiness. It is a great base from which to build further progress in 2025.”
Alexandra Nelson, partner at Birketts LLP, said: “The report shows that Suffolk’s economy has a lot to be positive about and that the Top 100 businesses in Suffolk continue to demonstrate resilience in challenging times.
“With Employer National Insurance increases and a raft of new employment laws on the horizon, 2025 will no doubt be testing for UK businesses. However, the report’s findings should provide us with confidence that Suffolk’s businesses will navigate these challenges and continue to prosper.”
The Top 100 league table excludes companies that are listed, owned by listed businesses, schools, trusts, charities and businesses that are subsidiaries of overseas companies.
The top 100 companies
1 Turners (Soham) Holdings Limited
Newmarket
2 Maritime Transport Limited
Felixstow
3 East of England Co-Operative Society Limited
Ipswich
4 A.J.N. Steelstock Limited
Newmarket
5 John Grose Group Limited
Lowestoft
6 Marriott Holdings Limited
Ipswich
7 Muntons Plc
Stowmarket
8 Suffolk Group Holdings Limited
Ipswich
9 One Group Construction Limited
Ipswich
10 Truckeast Limited
Bury St Edmunds
11 Green Label Holdings Limited
Woodbridge
12 Hughes Electrical Limited
Lowestoft
13 Breheny Group Limited
Ipswich
14 Portcrest Limited
Haverhill
15 Unity Schools Partnership
Haverhill
16 Don Construction Holdings Limited
Haverhill
17 P. Tuckwell Limited
Woodbridge
18 The Barnes Group Limited
Ipswich
19 Chassis-Cab Limited
Ipswich
20 Sealey (UK) Limited
Bury St Edmunds
21 Birketts LLP
Ipswich
22 Tru7 Group Limited
Ipswich
23 Hammond Road Garage Limited
Ipswich
24 Heathpatch Limited
Ipswich
25 Precon Products Limited
Ipswich
26 Notcutts Limited
Woodbridge
27 Ridley Godfrey (Holdings) Limited
Bury St Edmunds
28 Sackers Limited
Ipswich
29 John Banks Limited
Bury St Edmunds
30 Juddmonte Farms Limited
Newmarket
31 Seven Asset Limited
Ipswich
32 Branded Garden Products Limited
Ipswich
33 Perrin Group Holdings Limited
Ipswich
34 Le Bas Limited
Ipswich
35 Getech Limited
Ipswich
36 Gateway14 Limited
Ipswich
37 4 BG Group Limited
Sudbury
38 KDM Timber Limited
Ipswich
39 A.W. & D. Hammond Limited
Halesworth
40 Denbury Homes Holdings Limited
Bury St Edmunds
41 Mr. Fothergill’s Seeds Limited
Newmarket
42 NGB Construction Limited
Bury St Edmunds
43 Tattersalls Limited
Newmarket
44 Edison House Group Limited
Ipswich
45 Lignacite Limited
Brandon
46 Troy Central Limited
Bury St Edmunds
47 Robinson Young Holdings Limited
Bury St Edmunds
48 H.G. Gladwell & Sons Limited
Ipswich
49 Permastore Group Limited
Eye
50 Moores Refrigeration Controlled Transport Limited
Eye
51 Taylor Made Joinery Interiors Limited 52 Starke Industries Limited
Ipswich
53 R.H.Claydon Limited
Bury St Edmunds
54 Basetek (Holdings) Limited
Ipswich
55 The Bartrum Group Limited
Eye
56 Roger Skinner Holdings Limited
Eye
57 Herrco Cosmetics Limited
Halesworth
58 Gerda Security Holdings Limited 59 Ichiban UK Limited
Bury St Edmunds
60 Logistic Planning Services Limited 61 Catmj Limited
Newmarket
62 Adventure Forest Limited
Bury St Edmunds
63 Micropress Printers Limited
Southwold
64 A & B Glass Group Limited
Sudbury
65 Coastal Global Logistics Limited 66 Glasswells Limited
Felixstowe
67 Infinity Container Logistics Limited 68 Holywells Holdings Limited
Felixstowe
69 Global Chair Components Limited
Southwold
70 Supreme Pet Food Holdings Limited
Ipswich
71 Whitcott Holdings Limited
Ipswich
72 Brooks and Wood Limited
Ipswich
73 Greenscape Energy Limited
Ipswich
74 Transam Trucking Limited
Bungay
75 Oranmore Precast Limited
Brandon
76 R P Valves Limited
Bury St Edmunds
77 George Baker (Shipping) Limited
Felixstowe
78 Alterium Limited
Ipswich
79 Wisdom Toothbrushes Limited
Haverhill
80 Cripps Developments Holdings Limited
Beccles
81 Ravenwood Group Limited
Bury St Edmunds
82 Bennett Plc
Bury St Edmunds
83 Specflue Limited
Sudbury
84 Precision Marketing Group Holdings Limited
Ipswich
85 Kalsec Europe Limited
Bury St Edmunds
86 GM Holdings (Felixstowe) Limited
Felixstowe
87 Jack Brand Holdings Limited
Ipswich
88 Mervyn Lambert Plant Limited
Ipswich
89 Chestnut Inns Limited
Bury St Edmunds
90 Buyaparcel Limited
Lowestoft
91 Portable Space Limited
Stowmarket
92 P.H. Betts (Holdings) Limited
Woodbridge
93 Ellpro Timber Limited
Ipswich
94 I. S. & G. Steel Stockholders Limited
Ipswich
95 Aegg Limited
Eye
96 Marsh Holdings (GBR) Limited
Bury St Edmunds
97 Kersey Holdings Limited
Ipswich
98 DW Group (Anglia) Limited
Beccles
99 Mel Aviation Limited
Sudbury
100 Power Tool Products Limited
Saxmundham