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Contractors report turnover increase

Results from the latest Electrical Contractors’ Association (ECA) survey show that 79% of contractors saw turnover increase or remain steady in the third quarter of 2015.

There was even better news for companies with turnovers between £1m and £5m, 84% of which reported their income had increased or remained stable during the period.

From those with turnovers in excess of £5m, 69% reported revenue growth, which closely resembled the ECA’s Q2 survey.

The picture was less clear for those with a turnover between £200,000 and £1m, as an increased number reported both rises and falls in their income.

Asked about their expectations for the final quarter of 2015, 70% said they expected to see turnover increase or stay the same as Q3.

While this is a very encouraging result, the ECA said it is slightly less optimistic than results to the same question for the previous quarter.

Director of business and external affairs Paul Reeve said: “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.

“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.”