July 22 2014 Latest news:
Shaun Lowthorpe, Business editor
Tuesday, April 1, 2014
Norfolk and Suffolk’s Top 100 companies are playing a leading role in driving growth in the economy and promising to deliver more jobs and prosperity in the future.
That is among the key conclusions of the new look Top 100 which details the performance of our leading firms.
Published online today the Top 100 reveals the key growth areas were energy, where the sector had grown by 27pc to £370m, food, drink and agriculture (up 7pc to £277m) and automotive (up 5pc).
There had also been growth in construction, and financial services, while compared that with the long-term growth average in the UK of around 1pc, Top 100 businesses have grown by 35pc, which equates to a growth rate of 4.5pc per year.
Sponsored by PwC, Mills & Reeve, and new sponsors Roche Chartered Surveyors, the interactive Top 100 website gives you the chance to drill down into the performance of each company and also follow the latest news from Top 100 firms.
Diversity is one of the key strengths of the region’s economy and the listing shows the full range of businesses operating, from family-run firms to major plcs, detailing those with sales of more than £37m to more than £3bn.
James Hunter, head of office at Mills & Reeve said a number of exciting developments would also help drive growth in the future.
“The really exciting developments at Norwich Research Park, Hethel Engineering Centre and Adastral Park are all expected to create significant numbers of new jobs,” he said. “City Deals for Norwich and Ipswich and an Enterprise Zone and Centre for Offshore Renewable Engineering at Great Yarmouth and Lowestoft (and hopefully also Assisted Area Status) are important for the success of key sectors. There is also the potential of our huge rural and agritech economy.
Andy Grimbly, who has taken over the role of PwC Norwich office senior partner after moving to the region from the firm’s Southampton office, said Norfolk and Suffolk are areas of fast growth and an entrepreneurial market.
He said: “I see the already established privately owned companies continuing to prosper but funding challenges for those at earlier growth and expansion phases. Whilst the public sector organisations are strong, they will have some fundamental challenges to deal with in the coming years.”
James Allen, senior partner at Roche, said: “The annual survey always attracts a great deal of interest and is well recognised by the business community throughout Norfolk and Suffolk. With the economic recovery gaining momentum, we are looking forward to the survey being published with great interest and to the associated events throughout the year.”
Tesco ditched beleaguered chief executive Philip Clarke today as it recruited an outsider from consumer goods giant Unilever to try to restore its fortunes.