The ECA’s Quarterly Business Trends Survey (QBTS) for Q3 2015 also found that:
· Firms with turnover £1m – £5m were the biggest winners, with 84 per cent seeing turnover increase or steady in Q3, up 10 per cent on the previous quarter.
· Larger contractors (turnover over £5m) had very similar results to Q2, with 69 per cent reporting a rise in turnover.
· However, firms with turnover £200k – £1m had a mixed third quarter, with an increase in both the number of contractors reporting a rise – and fall – in turnover.
ECA director of business and external affairs Paul Reeve commented: ‘These survey results suggest that, overall, electrical and building services firms are doing more business, with the biggest increase among the larger firms. Yet bearing in mind where the industry has been in recent times, the overall picture, while positive, is far from spectacular.’
Looking to the final quarter of 2015, 7 out of 10 respondents expect to see turnover increase or stay the same as in Q3. However, this is slightly less optimistic than respondents in the previous quarter.
Reeve added: ‘We will be looking to gather additional data soon, but the current responses strongly suggest there is more growth in turnover to come, but also that the rate of improvement may start to level off sooner than we would hope.’