Member Article

Cambridgeshire’s top businesses surpass pre-pandemic trading levels

During 2022, Cambridgeshire’s top 100 businesses bounced back from the COVID-19 lockdowns and are now surpassing pre-pandemic levels, according to new data from Grant Thornton UK LLP.

The leading business and financial adviser’s annual Cambridgeshire Limited report found that over the past three years, the top 100 companies* in the county achieved a 15% increase in turnover compared to 2019.

The Cambridgeshire Limited report provides an annual review of the county’s most successful businesses as measured by annual turnover levels. It found that the overall turnover for the leading 100 companies reached £13 billion this year, which is £1.7 billion higher than was recorded for the last full year before the pandemic.

Several other key metrics prove that the county’s leading businesses are exceeding where they were before the COVID-19 lockdowns began. The total combined EBITDA showed a 19% increase, up from £809 million to £965 million, while employee numbers across the 100 companies are 5.8% higher than in 2019.

As a sector, food & beverage moved ahead of automotive in 2022 to become the county’s industry with the highest overall turnover. In terms of EBITDA, the technology sector once again surpassed all others as the best performing sector by a margin of more than £200,000.

18 new businesses joined the top 100 in this year’s Cambridgeshire Limited report.

James Brown, Partner and Practice Leader at Grant Thornton UK LLP in the East of England, said: “The Cambridgeshire Limited report provides us with an opportunity to assess how the county’s economy has fared over the past year by analysing the wealth created, retained and re-invested by key business decision makers.

“From this, we can see that Cambridgeshire’s leading companies are now officially exceeding where they were prior to the start of the COVID-19 pandemic. This comes despite another turbulent 12 months, which is a real testament to the resilience of these companies and their ability to become ever more agile, efficient and dynamic.

“While there are still many economic headwinds ahead, the Chancellor’s support for energy security, infrastructure developments and R&D in the recent Autumn Budget could prove an important boon for the county’s businesses moving forward.

“Whatever is on the horizon, the Cambridgeshire Limited report can give us confidence that Cambridgeshire’s companies are well prepared to meet the challenges and maximise the opportunities that 2023 brings.”

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