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.
Greene King, Bury St Edmunds, named as top international contributor. Picture: Mecha Morton
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.
Turnover across the top 100 firms. Picture Grant Thornton
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.
TruckEast, Bury St Edmunds, makes list the Top 100 list at number 10. Picture: Truck East
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.
Wages and employment. Picture: Grant Thornton
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.
Muntons, Stowmarket included in the list of fastest growing businesses. Picture: Muntons
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.”
How the businesses are spread across the county. Picture Grant Thornton
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 LimitedNewmarket
2 Maritime Transport LimitedFelixstow
3 East of England Co-Operative Society LimitedIpswich
4 A.J.N. Steelstock LimitedNewmarket
5 John Grose Group LimitedLowestoft
6 Marriott Holdings LimitedIpswich
7 Muntons PlcStowmarket
8 Suffolk Group Holdings LimitedIpswich
9 One Group Construction LimitedIpswich
10 Truckeast LimitedBury St Edmunds
11 Green Label Holdings LimitedWoodbridge
12 Hughes Electrical LimitedLowestoft
13 Breheny Group LimitedIpswich
14 Portcrest LimitedHaverhill
15 Unity Schools PartnershipHaverhill
16 Don Construction Holdings LimitedHaverhill
17 P. Tuckwell LimitedWoodbridge
18 The Barnes Group LimitedIpswich
19 Chassis-Cab LimitedIpswich
20 Sealey (UK) LimitedBury St Edmunds
21 Birketts LLPIpswich
22 Tru7 Group LimitedIpswich
23 Hammond Road Garage LimitedIpswich
24 Heathpatch LimitedIpswich
25 Precon Products LimitedIpswich
26 Notcutts LimitedWoodbridge
27 Ridley Godfrey (Holdings) LimitedBury St Edmunds
28 Sackers LimitedIpswich
29 John Banks LimitedBury St Edmunds
30 Juddmonte Farms LimitedNewmarket
31 Seven Asset LimitedIpswich
32 Branded Garden Products LimitedIpswich
33 Perrin Group Holdings LimitedIpswich
34 Le Bas LimitedIpswich
35 Getech LimitedIpswich
36 Gateway14 LimitedIpswich
37 4 BG Group LimitedSudbury
38 KDM Timber LimitedIpswich
39 A.W. & D. Hammond LimitedHalesworth
40 Denbury Homes Holdings LimitedBury St Edmunds
41 Mr. Fothergill’s Seeds LimitedNewmarket
42 NGB Construction LimitedBury St Edmunds
43 Tattersalls LimitedNewmarket
44 Edison House Group LimitedIpswich
45 Lignacite LimitedBrandon
46 Troy Central LimitedBury St Edmunds
47 Robinson Young Holdings LimitedBury St Edmunds
48 H.G. Gladwell & Sons LimitedIpswich
49 Permastore Group LimitedEye
50 Moores Refrigeration Controlled Transport LimitedEye
51 Taylor Made Joinery Interiors Limited 52 Starke Industries LimitedIpswich
53 R.H.Claydon LimitedBury St Edmunds
54 Basetek (Holdings) LimitedIpswich
55 The Bartrum Group LimitedEye
56 Roger Skinner Holdings LimitedEye
57 Herrco Cosmetics LimitedHalesworth
58 Gerda Security Holdings Limited 59 Ichiban UK LimitedBury St Edmunds
60 Logistic Planning Services Limited 61 Catmj LimitedNewmarket
62 Adventure Forest LimitedBury St Edmunds
63 Micropress Printers LimitedSouthwold
64 A & B Glass Group LimitedSudbury
65 Coastal Global Logistics Limited 66 Glasswells LimitedFelixstowe
67 Infinity Container Logistics Limited 68 Holywells Holdings LimitedFelixstowe
69 Global Chair Components LimitedSouthwold
70 Supreme Pet Food Holdings LimitedIpswich
71 Whitcott Holdings LimitedIpswich
72 Brooks and Wood LimitedIpswich
73 Greenscape Energy LimitedIpswich
74 Transam Trucking LimitedBungay
75 Oranmore Precast LimitedBrandon
76 R P Valves LimitedBury St Edmunds
77 George Baker (Shipping) LimitedFelixstowe
78 Alterium LimitedIpswich
79 Wisdom Toothbrushes LimitedHaverhill
80 Cripps Developments Holdings LimitedBeccles
81 Ravenwood Group LimitedBury St Edmunds
82 Bennett PlcBury St Edmunds
83 Specflue LimitedSudbury
84 Precision Marketing Group Holdings LimitedIpswich
85 Kalsec Europe LimitedBury St Edmunds
86 GM Holdings (Felixstowe) LimitedFelixstowe
87 Jack Brand Holdings LimitedIpswich
88 Mervyn Lambert Plant LimitedIpswich
89 Chestnut Inns LimitedBury St Edmunds
90 Buyaparcel LimitedLowestoft
91 Portable Space LimitedStowmarket
92 P.H. Betts (Holdings) LimitedWoodbridge
93 Ellpro Timber LimitedIpswich
94 I. S. & G. Steel Stockholders LimitedIpswich
95 Aegg LimitedEye
96 Marsh Holdings (GBR) LimitedBury St Edmunds
97 Kersey Holdings LimitedIpswich
98 DW Group (Anglia) LimitedBeccles
99 Mel Aviation LimitedSudbury
100 Power Tool Products LimitedSaxmundham