CEOs at UK manufacturing companies are positive about their business prospects for the year ahead, according to a survey by private equity group ECI.
In the first ECI Growth Survey almost 80 per cent of CEOs at manufacturing companies said they expect growth of at least six per cent over the next 12 months. Ten per cent of those expect growth over 25 per cent.
However, manufacturers aren’t as positive as some. When industry is disregarded the number of CEOs from mid-market companies expecting 25 per cent or more growth rises to 25 per cent.
And generally manufacturers aren’t expecting much to change on the bank lending front in the coming year. Sixty-four per cent of manufacturing CEOs believe it will be difficult to raise finance over the next 12 months, although they still see debt as a better option than private equity and are the least disposed of all industries towards the latter.
The majority of manufacturers said they expect to achieve their growth organically, rather than through acquisition.
Companies invited to take part in the survey had turnover of between £10m and £200m and sales increase of one per cent or more over the last year, according to the last available data from Companies House.
The full findings are available at www.ecipartners.com.