Confidence is on a ‘high plateau’ states confident BPF survey
The British Plastics Federation (BPF) has published its latest survey of Business Conditions in the UK plastics sector.
It was conducted in June 2014 and attracted responses from 89 businesses. “The overall message is that the level of business confidence remains high but has reached a plateau, at least momentarily,” explained Philip Law, Director General, BPF.
The survey showed that 72% of respondents forecasted an increase in UK sales turnover compared with 73% in the January Survey. Similarly, 46% of respondents expected their profitability to increase in the next 12 months, down slightly from 49% in the previous survey.
Exporters also reported a stable situation with 56% expecting sales to remain the same over the next twelve months, although this was up from 50% in January 2014.
The survey illustrated an increasing trend in investment intentions with 42% of respondents planning ‘significant investments’; up from 36% in the January 2014 survey and 31% in January 2013.
The growing disparity between the plastics industry’s aspirations to recruit more staff and its actual ability to find appropriately qualified manpower, was further revealed. The survey showed that 46% were expecting to increase staff levels over the next year, the highest level seen in four years. However, 48% were experiencing difficulties in recruitment, up from 36% in January. Technical managers were cited as being particularly hard to find.
Caption Philip Law, Director General, BPF – “the level of business confidence remains high but has reached a plateau”.