BPF Business Conditions Survey and Results of Member Attitudes Towards 'Brexit'

29th February 2016

The BPF’s latest Business Conditions Survey, which was carried out in January and February 2016 reflects growing concerns about the performance of the global economy, the evolution of political issues and currency volatility.

Whilst these factors have made the UK plastics industry more cautious, nevertheless some 63% of respondents are predicting an increase in their UK sales turnover over the next 12 months, as are 28% of those exporting.  

Furthermore 32% of respondents in the survey are predicting an increase in profitability over the next 12 months. Volatile exchange rates were highlighted as a major reason for a decrease or flattening in profitability.  

In terms of recruitment more than a third of respondents are expecting to increase staff levels over the next 12 months although the skills gap was, as expected, highlighted within the survey with 51% of respondents saying they are having difficulty recruiting suitable staff.

With the referendum looming, the BPF asked member company companies if they thought the UK should remain a member of the EU or leave. 

Responding to this before the terms of the EU renegotiation was finalised, 8% of members felt the UK should leave the EU, 62% said that the UK should remain in the EU as currently constituted, 16% reported that they thought the UK should remain a member of the EU but that changes needed to be made and 14% stated they did not know.

BPF Director General Philip Law commented ‘Our national future is more uncertain today than at any time since the Second World War and it is not surprising that the industry is making very prudent forecasts. The skills gap is a major issue on which the BPF is determined to make an impact and our Skills and Education Committee has a raft of initiatives targeted on schools for release later in the year”.

To download the full survey visit www.bpf.co.uk/bcs

ENDS

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Notes for editors
British Plastics Federation (BPF) is the UK trade association for the plastics industry – representing the whole supply chain including polymer producers, distributors, additives suppliers, machinery manufacturers, processors and recyclers.