At the CPA, we recently carried out a survey using the Insight Data database. We asked all businesses affiliated with the CPA to compare their business results in 2015 to those recorded in 2016.
The results were generally positive, with growth recorded across most areas. Against a backdrop of uncertainty, it seems that the glazing industry is continuing to grow alongside the wider construction industry.
In depth analysis
The statistics show that 34% of businesses reported increased profit margins in 2016 compared to 2015. Only 10% reported a decrease while the remaining 55% said their profit margin had remained the same. Cash flow levels across the companies showed an equal level of increase and consistency at 41% while only 17% reported a reduction.
28% of businesses reported an increase in their number of leads while 21% reported a reduction. With regard to the number of full time installers employed, only 7% reported a reduction. This is a very positive sign for the UK economy, with 24% of companies reporting an increase in the numbers of their workforce.
It was only in the areas of retail work and commercial work that overall results were more negative. 24% reported a reduction in retail work compared to a 17% increase. In commercial work, it was a 17% reduction compared to a 14% increase. These results however, did not apply to 14% of businesses surveyed in retail work, and 31% in commercial work.
Positive outlook for 2017
These results show a trend for year on year growth across the industry. Experts have predicted further growth across the industry in 2017, with home building set to increase thus triggering an increased demand for glazing products. The existing residential glazing market is also predicted to grow in 2017 as homeowners look to improve their homes rather than have the expense of moving house.
With expected growth across the industry, the CPA will continue to provide deposit protection and insurance backed guarantees to all our customers. To find out more about what the CPA can do for you or your business call us on 01462 850064 or send us a message online.