A cautious optimism is growing over the marine industry’s business performance, the British Marine Federation reports.
The gradual uplift in overall marine business activity trends is continuing with 37% of BMF members responding to a survey experiencing an increase over the last six months and 28% a decrease, creating a net balance of +9%. Compared to the last survey in November 2012, more members are likely to have had the same level of business activity rather than decreasing.
The workload of the domestic market compared to the same period a year ago is now reporting a neutral trend with more members experiencing the same level rather than lower. The value of the domestic order book, while still in a negative trend, remains consistent with the November 2012 survey which had improved from the previous 12 months.
In the last survey in November 2012, export markets showed improved stability and this performance has been maintained over the last six months, for both export workload and value of the export order book. Turnover and profit measures have improved, particularly profit levels which are rated significantly better than recent surveys though still showing a negative trend. Small commercial and superyacht trends have been more positive during the last couple of years but there is a marked improvement in trends for the leisure market in this survey, it is still showing a negative trend but it is moving in the right direction.
Future expectations for the next 6 months are marginally better than the last survey (November 2012), continuing to move in a more positive direction since the decline in November 2011. The marine industry forecasts are positive on the whole with 83% of members completing the survey stating the future looks ‘ok’ or ‘excellent/good’. There is a significant decrease in intention to raise pricing in the next six months, with the majority intending to retain current levels.
Howard Pridding, BMF CEO commented: “The British Marine Federation is encouraged by the results of our recent trends survey which shows signs of increasing stability. There are positive indications of improvement in slow steady steps which positions the British marine industry well within the global marine market.”
To access the full Industry Trends Results 2013 download the report here: