Well it’s good news if you’re in the electrical trade! A new survey from the Electrical Contractors’ Association (ECA) has revealed that 79 per cent of contractors saw their turnover increase or remain steady in the third quarter of 2015.
Of the smaller firms reporting a turnover below £200k, 73 per cent anticipated sales staying the same or increasing over the next 12 months. For businesses with a turnover of £200k to £1m, four out of 10 saw an increase in turnover (up 28 per cent on Q2), with 46 per cent confident of increased sales over the next year.
Business was particularly good for those firms with turnovers between £1m and £5m, with some 84 per cent reporting their income had indeed increased or remained stable. For those reporting turnovers of over the £5m mark, 69 per cent reported revenue growth!
Steve Bratt, ECA group CEO, explained: “The upturn in fortune in Q3 is great news, particularly as industry confidence has also significantly increased for the coming year. Our experience and expectations for 2014 mirror that of the wider construction industry, as seen in the latest Construction Trade Survey, so we are hopeful that it is not just a flash in the pan.
“In construction as a whole, private sector housing appears to be the main area of growth with repair and maintenance lagging behind. We need the Green Deal to take a real hold for this potentially lucrative area to catch up.”
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