According to the ECA’s Quarterly Business Trends Survey (QBTS) 78 per cent of members saw turnover hold or increase in Q4 2014.
More than two thirds (72 per cent) of respondents expect revenue to hold or increase in the first quarter of the new year and 81 per cent predict the same outcome over the next year.
Businesses with a turnover of £200k-£1m posted the best results this quarter. More than one third (37 per cent) saw turnover hold and the same number reported an increase. These businesses are optimistic about the next quarter and the next year, with 67 per cent predicting a rise or a hold in revenue for Q1 2015 and 83 per cent expecting the same result over the next 12 months.
‘This is excellent news and an indication that our industry has started to benefit from the wider economic recovery,’ said ECA group CEO Steve Bratt. ‘We’re finally seeing the results of the improvement in the construction sector from 2013, and with last year being even better, I fully expect 2015 to be a good year for our members and our industry.’
He continued, ‘The Construction Products Association is predicting that construction will continue to experience growth up until 2017, which should mean that our industry sees the benefits of that well into the year after.’
He also sounded a note of caution, saying, ‘Revenue growth is clearly a good thing. However we also need to see an improvement in prices and margins following through.’