Partner Article

Sussex’s top businesses exceed £10bn in turnover

The top 40 privately owned businesses in Sussex achieved a landmark amount of revenue last year, increasing overall turnover by 26% to reach £10.98 billion, according to new data from Grant Thornton UK LLP. 

The leading business and financial adviser’s inaugural Sussex Limited report, launched this week, analysed private companies in the region and highlighted the county’s top 40 companies* as measured by revenue growth and average EBITDA (earnings before interest, tax, depreciation and amortisation).   

Despite the recent economic conditions, the analysis found that alongside notable revenue growth, overall profits also increased. The combined EBITDA of the county’s 40 most profitable privately-owned businesses rose by 18% compared to the previous year, totalling £393 million.

The Gatwick Airport-based hotel developer, owner and operator Bloc Hotel Group Limited ranked number one in the report, out of all 40 businesses, by turnover growth. By average EBITDA margin, the leading business was identified as Hove-headquartered exhibition organiser Regent Exhibitions Limited, which was also second in the list for turnover growth. 

Sussex’s business support services sector contributed the highest proportion of overall revenue compared to any other sector. It achieved a total turnover of £2.16 billion, which represents a 29% increase on the previous year. This included a significant amount of profit, with EBITDA growing by 18% to hit £141 million. In this sector, the aviation component services provider Avtrade Limited from Sayers Common was the county’s best performing business by turnover. 

The real estate and construction market was a close second by overall revenue, with a 7% increase in turnover last year to achieve a combined revenue of £2.08 billion. 

Based on the 40 businesses analysed, the consumer sector is the biggest employer in the county, growing its combined headcount by 14% to almost 5,000 people. The sector with the fastest growing headcount is healthcare, which recorded a 61% increase in employees to 1,590. 

Martin Verrall, Practice Leader for Grant Thornton UK LLP in the South East, said: “As a Gatwick based business that interacts with and advises privately-owned companies in Sussex every day, it’s great to see the county’s businesses post such record levels of revenue and profit growth, especially in the face of what’s been a very challenging economic environment.

“To continue this growth, businesses in the South East know that they are going to have to stay ahead of the curve when it comes to issues such as productivity and new technologies. This was highlighted in our recent Business Outlook Tracker** survey, which found that four in five (83%) of the region’s business leaders believe that a lack of vital skills is affecting productivity levels, with digital skills identified as the most in need. AI has likely been a key driver here, with only 23% believing that AI won’t have a positive impact on their productivity over the next year.

“Businesses in Sussex from every sector therefore need to be nurturing the right talent and skills while thinking hard about where they are on their AI and automation journey. Fortunately, as the Sussex Limited report shows, the county is home to many creative and ambitious companies with a lot of potential for further growth. We look forward to working closely alongside them to ensure they achieve their objectives.” 

This was posted in Bdaily's Members' News section by John Robson .