27 Jun 2012
East Mids manufacturers buck the trend
Many industrial manufacturers in the East Midlands are managing to outsmart the recession, according to sector experts at Price Waterhouse Coopers. They have continued to increase margins and improve revenues in the past couple of years and share prices in the sector have also performed strongly.
As other sectors, including financial services, struggle to ride the on-going recession, the PwC report — entitled From crisis to growth — has shown that industrial manufacturers in the UK have seen their share price index treble since 2009. Anyone who had invested in the sector would have doubled their money over the past five years, the report claims.
David Martin, director and manufacturing sector expert at PwC’s Castle Donington offices, said: “This new research has supported our positive view of how industrial manufacturers in the East Midlands are performing. Many have well-established, effective strategies to deal with the impact of the recession; they haven’t just reduced their costs like many sectors in the UK, they saw the financial crisis as an opportunity for growth. With revenues in the sector showing an average year-on-year growth of 9% and 16% in 2010 and 2011 respectively, 2012 is looking similarly positive.”