Cambridgeshires Top 100 Companies
After a year of investment in 2016, Cambridgeshire's top companies have significantly progressed in the last 12 months, reporting growth that outstrips the national average according to the 2017 edition of The Cambridgeshire Ltd study, conducted annually by financial and business advisers Grant Thornton.
The report provides an in-depth financial analysis of the county’s 100 largest companies which are both owned and managed within Cambridgeshire.
The headline figure of the study shows that combined profits of the top 100 rose by an impressive 18.3 per cent, to £749m. This was generated by 92 businesses, 10 more than the previous year. Total turnover for Cambridgeshire Ltd’s constituent members also rose substantially, up 15.8 per cent to £10.25bn, with the majority (80 per cent) of businesses reporting sales increases.
Automotive is the largest sector with turnover of £2,756m, and also saw the highest turnover increase of 32.4 per cent.
Cementing their position in the top 25 for the fourth consecutive year, was Construction and Waste Management business, Mick George Ltd.
The report also includes a Growth Index, looking at the 25 highest profit growth companies in the top 100, plus a ‘Ones to Watch’ section profiling 25 emerging companies. The findings revealed outstanding rates of growth and a real spread in terms of size, sector and location, reflecting the diversity within the county.
Paul Brown, Director at Grant Thornton’s Cambridge office, said: “The 2017 study shows the investments made last year in people, capacity and operations are already generating returns and opportunities for businesses and people. Growth for Cambridgeshire’s 100 largest businesses is far outstripping the UK national growth rate of 0.4%.
“This vibrancy is reflected by the substantial changes to the top 100 companies, with 22 new entrants across a range of sectors. This is a natural and healthy regeneration of Cambridgeshire Ltd – mature businesses change ownership and a new generation of high growth companies push their way through.
“Investment amongst the 100 largest firms is also continuing with fixed assets up 19 per cent to £1,280m and employment rising considerably. This underwrites the confidence levels our county’s businesses are reporting despite the uncertainty of Brexit negotiations.”
Jon Stump, Finance Director at Mick George Ltd said: ‘’The figures released paint a buoyant picture of the business climate around the county and demonstrates why Cambridgeshire is a thriving place to do business’’.
Stump continued: ‘’Much of the evidence suggests embracing change and planning for the future is fundamental to achieving in a challenging and competitive environment. As a business, we recognise our audience and industry in which we operate is constantly evolving so it’s important for us to adopt an innovative approach to remain at the forefront.’’