Representing Suffolk’s 100 largest companies, Suffolk Limited has continued its growth journey in respect of turnover, however this has not translated into a similar increase in operating profit, with this figure declining.
Now in its 18th year, Suffolk Limited is one of the key events in the county’s annual business calendar. It provides a yardstick against which Suffolk can assess its economic performance and businesses in the county can benchmark themselves against their peers.
How Suffolk Limited is compiled
Suffolk Limited 2019 has been compiled using the most recent publicly available accounts, as at 4 October 2019, and is based on those businesses which are both owned and managed within the county.
Excluded from the analysis are a small number of the county’s largest businesses where ownership is overseas, management and strategic decision makers are based outside the county, or are listed entities. The most well known of these is pub retailer and brewer Greene King.
This year we showcase a number of success stories in Suffolk Limited, providing insight into key market trends across the county as well as drivers of sustainable growth.
Turnover is up 7.2% on last year's figure to £5.6 billion, with just under 70% of the Top 100 companies reporting turnover increases.
Employment figures and average wages in the Top 100 companies have also seen significant growth, implying improved productivity given the increases in turnover. Employment has risen 7.8% to 35,964, and the average wage has increased by a staggering 14%, from £24,989 to £28,604.
However, while some companies have performed strongly others are facing more challenging times. Operating profit has fallen by 2.5%, with only 54 companies increasing profits before tax, although this could be down to an increase in employment across the county, with an increase in headcount of 7.8% to 35,964.
Discover key information regarding regional trends and learn more about our Suffolk Limited report.