Profits have surged at Suffolk’s largest 100 companies, according to an analysis of their latest accounts by Grant Thornton. It shows operating profit across the top 100 jumped by 41.1 per cent from £147m to £207m and pre-tax rose 34.1 per cent from £137m to £184m. The study, which mainly covers a period when the UK was in recession, saw turnover amongst the top 100 companies grew by 5.2 per cent from £4.05bn to £4.26bn. James Brown of Grant Thornton said: “Despite the challenging trading conditions over the reporting period, Suffolk Ltd’s constituent members have withstood the storm very well, whether their markets are local, national or international.“Should market conditions start to improve during 2013 and beyond, Suffolk Ltd looks in good shape to respond and fully exploit any rebound in fortunes. Certainly increased internal investment by Suffolk Ltd companies indicates that businesses are feeling slightly more certain about the future and are better placed to grasp opportunities for growth as they arise.”
The Suffolk Ltd report showed transport & motor retail was the largest sector by turnover, up slightly at 26.7 per cent, followed by food and agriculture at 24.7 per cent. Services and retail and wholesale distribution saw a slight fall of 1.5 in turnover. Total employment amongst the 100 companies stood at 27,332 people, slightly down on last year’s figure of 27,477, although still representing just over 10 per cent of the county’s overall workforce.
