Profits are up and confidence is coming back – yes things are finally looking up for Essex businesses.

The Essex Limited 2014 report, carried out by financial advisers Grant Thornton and Birkett Long law firm, has revealed that there’s good news for the county’s businesses for the first time since the recession.

Essex Limited looks at the performance of the county’s top 100 independent businesses based on turnover, operating profits and number of employees. It also breaks the companies down by sector.

It’s important that the businesses are independent to get an accurate picture of the Essex economy, taking out the influence of national and international chains.

The best news to come out of the survey is that, although turnover has remained static at 7.0bn, operating profits are up by 48.3% across the 100 companies. So the combined turnover is now at £313m.

All of the survey results were announced at a breakfast event at Stock Brook Country Club on Tuesday, which was attended by hundreds of top level business people.

“The headline news is that Essex is now a more profitable county,” said James Brown, the partner at Grant Thornton responsible for Essex Limited. “This key finding proves that even though we are not selling any more, we are much more profitable, which is great news.

“One of the main reasons for this is the upturn in the property and construction industries, which have had a hell of a year. They are far more profitable which is a clear sign that confidence is returning.”

The top independent company in Essex by turnover was named as McLaren Construction Group PLC, a property and construction company which had a turnover of £377.7m in 2013 and more than 480 employees. The company has its head office in Brentwood and eight international offices.

The10 largest businesses by turnover, which is dominated by six companies in the Property and Construction sector, made up 27% (1.9bn) of Essex Limited’s total sales and 37% of its total operating profit.

Another good indicator for the Essex business community is that the amount of bank debt has gone down. The total debt of the top 100 companies is down 18% to £1.3bn, while gearing (the proportion of debt to equity) has dropped from 102% to a healthier 84%.

“There main reason why our debt is down is that businesses are making more money and they are able to pay off some of their bank debt,” James said. “This is reassuring to us all and shows that we are in a more stable position.”

The top 100 companies are judged by their turnover, and every year there are new joiners and leavers. This year, there are 11 new companies, (so 11 leavers too), which is higher than in recent years.

“This is more than we are used to which shows new companies are coming through and that things are moving,” James said.

Across the whole of Essex Limited, the number of employees went up from 44,998 to 47,278 – an increase of 5.1%.

The average wage in Essex Limited stayed the same at £23,504 per person. Despite other positive indicators, this may be weighted by the fact that the two largest sector employers in Essex healthcare and retail and wholesale, which are traditionally lower paid areas.

The mood at Stock Brook Country Club when the findings of Essex Limited were revealed was brighter and more positive that in recent years, James said.

“All of these findings and figures show that Essex Limited is in a more sound financial position,” James said. “This is the fourth year for Essex Limited and this is the most positive year we have seen in that time.

“We hope that the Essex business community takes heart from these result and that we see even more of an upturn next year.”

The Essex Limited 2014 top 100 companies by turnover:

Mclaren Construction Group PLC

Hill Holdings Limited

Lakehouse Holdings Limited

Galliard (Group) Limited

MJT Securities Limited

Higgins Group PLC

Sherrygreen Limited

Uniserve Holdings Limited

Caring Homes Healthcare Group Limited

Essex Auto Group Ltd

Essex Group Holdings limited

Walstead Investments Limited

DCK Group

Wilson James Group Limited

Ernest DOE & Sons Limited

KBR Foreign Exchange PLC

Woodland Group Limited

Spicerhaart Group Limited

Breyer Holdings Limited

FJC Holdings

Industrial Chemicals Group

Runwood Homes Limited

Gates Group Limited

Millennium Cash & Carry Limited

Canute UK

Tamdown Group Limited

Wernick Group (Holdings) Limited

M W Beer Holdings Limited

Global Supply Systems

Hagondale Harris Holdings (Grays) Limited

Chelmer Foods Limited

Underwoods Garage (Tiptree) Limited

A P P Wholesale PLC

Chelmsford Star Co-op

HOO Hing Holdings Limited

Rowan International

Nicholls & Clarke Limited

C.A. Blackwell Group Limited

South Essex Stockholders Limited

Swan Investments Group Limited

NKD Maritime Limited

Ipeco Holdings Ltd

Cheale Meats Limited

Diomed Developments Limited

Seetec Business Technology Centre Limited

Coe of Ilford

Mann Group

Climate Energy Holdings

Hills Group Enterprises Limited

A1 Pharmaceuticals Public Limited Company

H. Smith Food Group PLC

Ultimate Security Services Limited

George A. Sherriff Limited

Fairfield Limited

Anderson Construction Limited

Albon Engineering And Manufacturing PLC

Ground Control Holdings

Harris Tobias Limited

Rainham Industrial Services Limited

Maxxima Limited

Ingleby (1863) Limited

Hutton Birch Limited

Healthcare Homes Holdings

Anton Group

R.T.Rate Limited

Abbey View Produce Limited

MDM Timber Limited

PFE Express Limited

Arcus Solutions Limited

Essex Cares

Kluman & Balter

Hallmark Care Homes

Group Holdings Limited

W.& H.Marriage & Sons Limited

Acetrip Limited

DWS Automotive Repair Solutions Limited

Essex Boatyards Limited

Wilkin & Sons Limited

Clarke International Limited

Marchase Limited

Lituanica UK Ltd

Crown Holdings Limited

Youngman Group Limited

Matchroom Sport Limited

Goldcroft Holdings Limited

Hayman Limited

C J Bourne (Asset Management) Limited

Whitehouse Leisure Holdings Limited

Rose Group Limited

Musto Topco

Suncrop Produce Limited

John F Hunt Ltd

Kent,Blaxill & Co,Limited

S.Walsh & Son Limited

Media 10 Holdings Limited

Call Assist Holdings Limited

Clearsprings (Management) Limited

F.H. Nash Limited

Paul Dennicci Limited

Graysons Hospitality