British Marine reports significant increase in investment, profit and employment for the industry

Associations, Markets, Reports — By on September 18, 2015 at 6:33 PM

British marine logoBritish Marine today published its bi-annual “Marine Industry Trends” survey at the 2015 Southampton Boat Show reporting a number of upward trends for economic performance across sectors of the leisure marine, superyacht and small commercial marine industry.

The survey, completed by a sample of 321 British Marine members, has found that 1 in 3 businesses reported a rise in employment levels – up by 6% from the last survey in November 2014. Profits were also reported to have increased for 50% of the members surveyed. A decrease of 7% of those asked reported a decline in profits (just 19% compared to 24% last year).

Investment has also grown with 45% of members reporting increased capital expenditure on investments, up from 39% in 2013-2014.

Responses came from a broad range of businesses across the industry from sectors such as boat manufacturing, distribution, repair and re-fit, and charter and training.

Alastair Wilson, Senior Researcher at British Marine commented: “It’s fantastic to see that the findings from the “Marine Industry Trends” survey are so positive. We are continuing to see our members within the sector experience positive growth for their business. Many marine companies are also reporting good sales at the Southampton Boat Show this week demonstrating that there are plenty of opportunities to continue this increased pattern within the industry.”

The full ‘Marine Industry Trends’ report can be read here: http://britishmarine.co.uk/Publications/2015/September/British-Marine-Industry-Trends-Survey-November-2014-to-June-2015

Key findings from the report:

Business Activity across all sectors and markets has continued its upward trend, with 39% of respondents reporting increased activity, compared to 37% in the last survey. 16% reported decreases, compared to 15% previously. This creates a net balance of +23% (+1%on the last survey).

Turnover has dipped since the last survey, with 53% reporting increased turnover, compared to 60% in the last survey. More members are reporting decreased revenue (20%), compared to 18% in the last survey. This creates a net balance of 33% (‐9% on the last survey).

Profits have increased, with 50% reporting an increase, compared to 49% in the last survey. Significantly less members are reporting decreased profits (19%), compared to 26% in the last survey. This creates a net balance of +31% (+8%on the last survey).

Employment Levels have increased, with 30% reporting an increase, compared to 24% in the last survey. 64% of members are maintaining staffing levels, compared to 65% in the last survey.  Only 6% have reduced employee numbers, compared to 11% in the last survey.

Investments have grown, with 45% of members reporting increased capital expenditure on investments, compared to 39% in the last survey. Significantly less members are reporting decreased investments (5%), compared to 9% in the last survey. This creates a net balance of +40% (+10%on the last survey).

Future expectations for the industry are positive, with 41% of members confident about the next 6 months and only 10% cautious or negative, creating a net balance of +10%. In individual marine markets, future expectations remain similar to the last survey.  Across the leisure, Superyacht and small commercial segments,   53%, 42% and 42% of members are confident about the next 6 months, creating a net balance of +45% (+4% on the last survey), +28% (0%) and +34% (‐3%)

Pricing Expectations for the next 6 months have decreased, with 56% of members keeping prices at the same level, compared to 43% in the previous survey, and 39% looking to increase prices, at or above inflation, compared to 44% of members in the previous survey.

*The net balance reflects the difference between members reporting a positive and negative response for each question

The next “Marine Industry Trends” survey will be conducted in November 2015.

About British Marine:

British Marine (the trading name of British Marine Federation Limited) is a membership organisation leading the UK leisure, superyacht and small commercial marine industry. It has over 1, 600 members drawn from both seagoing and inland sectors and represents an industry employing more than 31, 500 people in the UK. For more information about the work of British Marine and how to join, please visit the website:www.britishmarine.co.uk.

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