Confidence firm in building services sector
A survey of electrical and building services contractors has found that 80% maintained or increased their turnover in the third quarter of 2016.
The Electrical Contractors’ Association (ECA) survey, covering the three months from July to September 2016, indicates that the EU referendum had only a modest impact on the sector.
Businesses of almost all sizes had a positive third quarter; only micro businesses with turnover below £200,000 endured a slight downturn in the period.
Looking ahead to the final quarter of 2016, the outlook is also positive overall, although business expectations are down, with 31% of firms expecting a rise in turnover in Q4 (a fall of 11% from expectations in the previous quarterly survey).
ECA chief executive Steve Bratt said: “This ECA survey shows that electrical and building services firms remain broadly confident about their economic prospects, but we should remember that our sector feels any positive or negative effects later than many others in the supply chain.
“In addition, the survey shows that the expectation for business is down for the final quarter of the year, and members are already reporting increasing prices of key materials and equipment. This means that 2017 may present even more challenges to profit margins.”
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This article was published on 7 Nov 2016 (last updated on 7 Nov 2016).