BMF survey results

The British Marine Federation have conducted their spring industry survey that bi-annually measures the trends of the marine leisure sector.

Latest results reflect the economic climate of the ‘credit crunch’ being experienced by the country as a whole, they say:

“The majority of economic measures for November 2007 – May 2008 have remained at the same levels as reported for the six month period prior to November 07.

It is encouraging that in terms of business performance workload and orders have remained steady and in fact exports have increased slightly. However, the effect on turnover and the workforce is beginning to show more compared to this time a year ago.

Positively, future business prospects for the large majority (84%) are still expected to be excellent/ good/ ok, although more are now stating it is ‘ok’ rather than ‘good’. Only 15% believe the next six months will be poor and 1% very poor.

Latest findings have found:

· Those rating the value of the order book for the home market is rated as ‘more’ compared to six months ago for 25% but fewer for 34% whilst for the export market 35% rate it as ‘more’ and for 23% it is fewer
· Current workload is similar at home but increased for exports compared to the Autumn 2007, with 30% rating the home market as higher and for 29% it is lower whilst for the export market for 42% it is higher and for 18% lower
· Rating quality of earnings and investments isalmostidentical to Autumn 2007with 21% stating quality of earnings is higher than six months ago and for half it is the same (51%) whilst for investments, 36% are investing ‘more’ and 46% the same.
· Turnover has decreased slightlycompared to results found in Autumn 2007 from 46% to 39% now stating it is higher. 31% now report turnover is lower
· Profit Forecast is still most likely to have been attained (51%) though there has been a decreasein those exceeding it (8%) whilst 41% have fallen below
· Workforce has increased for 20% and for 59% it is the same. 21% are now reporting their workforce has decreased compared to 14% in Autumn 2007.
· Future prospects for the next six months (June – November 2008) are perceived to be excellent for 6%, good for 27% and ok for 51%

The general economic climate, both in the UK and internationally, dominates as the main concern to the marine industry but also the impending increase in fuel costs following the end of the derogation on red diesel. The BMF is currently in negotiations with HRMC to mitigate the impact of this on the industry.

BMF carries out this survey twice a year amongst a cross-section of member sectors to establish the current state of the industry. In total, we received 172 responses.”

For the full report, please visit www.britishmarine.co.uk