The latest research from the Electrical Contractors’ Association (ECA) has found that eight in 10 electrical and building services firms said that turnover increased or remained steady in the second quarter of 2016.
The findings cover the period in the build up to the EU referendum and the week after the Brexit vote, while the ECA is currently undergoing a separate Brexit poll, which will end this week.
Steve Bratt, Chief Executive of ECA, commented: “The ECA’s business survey for Q2 indicates that electrical and building services firms have been doing more business, despite potential challenges in the wider economy.”
The ECA conducted its Building Engineering Business Survey in conjunction with Scolmore and studied the second quarter results of this year, finding that small businesses (turnover from £201,000 to £1 million) enjoyed a positive quarter, with just short of three in four companies reporting steady or rising turnover, a 7% increase on the previous quarter.
Medium sized companies (turnover from £1.1 million to £5 million) also enjoyed a strong quarter, with eight in 10 firms seeing turnover remain steady or rise, which is also up 7% on the first quarter.
Meanwhile, large companies (turnover £5.1m to £20m) had a fair Q2, with more than 8 in 10 firms (83%) indicating that turnover increased or remained steady, which is up only slightly on the last quarter.
Looking at the third quarter of the year, the period immediately after the EU referendum result, the building services firms’ outlook remained positive, with eight out of 10 respondents expecting turnover to increase or stay the same in comparison to the second quarter, which is similar to forecasts in the previous quarter.
ECA members were surveyed for their views in early July this year, with the response rate from members the highest in nearly five years.