Turnover rises post Brexit
UK: Over 80% of electrical and building services engineering firms saw turnover increase or stay the same during the third quarter of 2016.
The new survey findings from the Electrical Contractors’ Association (ECA), covering the period immediately post-Brexit indicate that, overall, there was only a modest pre-and post-referendum impact on the sector.
Businesses of almost all sizes are said to have had a favourable third quarter, with small contracting firms, medium-sized enterprises and large organisations all reporting an improvement on the previous three-month period. However, micro businesses with turnover below £200,000 had a slight downturn in Q3.
Looking ahead to the final quarter of 2016, the ECA says the outlook is also positive overall. Business expectations, however, are down overall, with 31% of firms expecting a rise in turnover in Q4 – a fall of 11% from expectations in the ECA’s previous survey for Q3 this year.
“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,” said ECA CEO Steve Bratt.
“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,” Bratt added.
Latest news from the world of air conditioning and refrigeration
UK: The majority of local authorities in the UK are flouting government prompt payment laws, according to a new report by the Electrical Contractors’ Association (ECA).
UK: A cascade refrigeration system twinning CO2 with the HFO refrigerant 1234ze has been named as Retail Energy Project of the Year in last week’s Energy Awards in London.
UK: Industrial refrigeration contractor Stonegrove Refrigeration has appointed Steve Gowing as design and project engineer.
UK: Javac UK, the refrigerant recovery and vacuum pump supplier, has been named as Climate Centers’ Supplier of the Year for the second year running.
EUROPE: The European Commission has warned that the uptake of training in alternative refrigerants is too low to match the requirements of the F-gas phase down.
SOLOMON ISLANDS: Customs authorities in the Solomon Islands have reported their second seizure of the illegal CFC refrigerant R12 this year.
IRAN: German compressor manufacturer Bitzer has established a subsidiary company in Iran.
USA: Seven local residents are reported to be suing Honeywell after a chemical leak at its Geismar, Louisiana, plant in August.