Turnover in Hampshire’s top businesses exceeds £15bn
Hampshire’s top 599 privately-owned businesses achieved a landmark amount of revenue last year, increasing overall turnover by 4% to reach £15.3 billion, according to new data from Grant Thornton UK LLP.
The leading business and financial adviser’s inaugural Hampshire Limited report, unveiled this week, analysed private companies in the region and highlighted the county’s top 599 companies* as measured by both annual turnover and EBITDA (earnings before interest, tax, depreciation and amortisation).
Despite recent economic challenges, this analysis found that alongside the notable revenue growth, overall profits had also increased. The combined EBITDA of the county’s most profitable privately-owned businesses rose by 25% compared to 2023, totalling £751 million.
Southampton’s planning and development company Nicolas James Limited ranked number one in the report out of all businesses by turnover growth. By profit margin, the leading business was identified as the indie games studio, Kinetic Games Limited.
Hampshire’s automotive industry contributed the highest proportion of overall revenue compared to any other sector. It achieved a total turnover of £11.2 billion, which includes a significant increase in profits compared to the previous year, with EBITDA growing 39% to reach £448 million. It was also the sector with the single largest headcount, with 18,153 employees in the businesses analysed.
The Hook-based Constellation Automotive Holdings Limited, which is Europe’s largest vertically integrated digital car marketplace, recorded the largest turnover of Hampshire’s automotive firms. The county’s technology, media and telecoms (TMT) sector saw the biggest revenue growth of any sector, increasing by 27% to £1.4 billion. This made it the second sector by turnover and by EBITDA, which totalled £103 million last year.
Other notable sectors in the report include healthcare, which saw the highest rate of employee growth last year, with businesses in this sector increasing their overall headcount by 26% to 1,020 employees. The county’s real estate and construction sector recorded the biggest annual jump in profits, growing 99% to £65 million.
Nigel Le Bas, Corporate Finance Advisory Director for Grant Thornton UK LLP in the Thames Valley and Southampton, said: “Our inaugural Hampshire Limited report shines a spotlight on the hard work and innovation of the county’s businesses, highlighting the achievements and growth of many privately owned firms. Given the prevailing economic headwinds of recent years, this is a real testament to the ability of business leaders to think creatively and respond to changing situations.
“This report also explores Hampshire’s diverse variety of business types, with sectors such as aerospace and defence, maritime, advanced engineering, technology, tourism, and agriculture all playing key roles in the economic landscape. Among these industries, there are a significant number of small and medium-sized enterprises (SMEs) present, often providing the vital services, products and ideas powering their sectors.
“The county’s technology industry in particular has become a hot spring of innovation, with Hampshire hosting multiple technology parks, research institutions, and business incubators, creating a vibrant ecosystem which supports entrepreneurship across areas such as digital technology, advanced manufacturing, and clean energy.
"This supportive infrastructure is combined with a strategic location on the south coast, which makes Hampshire an important hub for trade and commerce, with streamlined access to major ports and transportation networks.”