The British Plastics Federation latest member survey results show confidence in plastics, with 80 per cent confident of growing sales over the next year.
The survey was released and presented at a BPF Council meeting on July 12 at the Bank of England. It showed that the number of companies predicting an increase in exports also remained high at 62 per cent.
Almost a third expected profitability to increase, a quarter expected it to decrease, but 44 per cent expected no change. The companies worried the weak pound was having a detrimental effect on the cost of raw materials.
57 per cent of firms reported difficulties recruiting staff - engineers are the most difficult staff to recruit, followed by shop floor staff and technical managers.
Stephen Hunt, Director of BPF Membership Services, said: “The survey we undertook in January showed that the initial pessimism arising from Brexit had dissipated — and this survey continues this positive trend. With 80 per cent of companies expecting sales turnover to increase, a new record has been set, suggesting growing optimism amongst the UK plastics industry despite Brexit negotiations revealing little so far about our future relationship with current trading partners.”
The survey was conducted in June and July 2017 by 106 companies from the BPF’s membership.
Bank of England, host of BPF survey event.