World News

Industry news and insights from Europe and around the World

UK News

Latest news and developments in the United Kingdom

Products

Keep up-to-date with the latest new products and technology

Features

General articles, applications and industry analysis

Turnover rises post Brexit

23246756_m

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.

fujitsu_gif_v1.8
Advertisement

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

21st February 2024

CCF publishes election manifesto

UK: In a new manifesto ahead of this year’s general election, the Cold Chain Federation (CCF) is calling for future government’s to take action to recognise the industry’s crucial contributions.
21st February 2024

Sanhua extends expansion valve applications

SPAIN: Sanhua’s SEC HD electric expansion valve controller is now compatible for a variety of applications with 29 commonly used refrigerants, including CO2, hydrocarbons and HFCs. 
20th February 2024

F-gas regulation published in Official Journal

EUROPE: The new F-gas regulation has now been published in the EU’s Official Journal, making it legally binding and entering into force in 20 days.
20th February 2024

Carrier Germany increases heat pump training

GERMANY: Carrier Germany is offering new hydraulics training courses  at its training centre on the IKKE campus in Duisburg to support the growing demand for heat pump expertise. 
20th February 2024

Oceanair acquired by builders’ merchant MKM

UK: Air conditioning and heat pump distributor Oceanair UK has been acquired by MKM, the independent builders’ merchant.
20th February 2024

Carrier to build factory and R&D facility in Saudi Arabia

SAUDI ARABIA: Carrier is to build an advanced manufacturing and R&D facility in Saudi Arabia in a partnership with Alat, a new Riyadh-based public investment fund company.