UK manufacturing 2
The expectations of the UK plastics industry for the coming year have shown an improvement according to the latest British Plastics Federation’s Business Conditions Survey.
The latest survey, conducted over June and early July, attracted 101 member responses and revealed further progress for the industry, as well as a positive outlook in terms of investment and recruiting.
‘There are improvements in expectations for both revenue growth and profitability over the next twelve months,” said BPF Director-General, Philip Law. “Seventy-two percent of respondents forecasted an increase in UK sales turnover compared to 66 percent revealed by the last survey in January.”
Export sales expectations were also up, with 39 percent expecting increases compared to 37 percent earlier in the year. There was also a marginal rise in firms expecting an increase in profitability with 39 percent expecting an increase, again up from 37 percent earlier in the year.
Law added: “A key feature is that investment in plant and equipment is being maintained at a high level. 81 percent of companies responding have declared investment intentions over the next 12 months with 44 percent also expecting to increase staff levels over the same period.”
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