The UK economy has seemed to be teetering on the edge of economic catastrophe for the past two years. Industries have shut down, routes to overseas markets have become a labyrinth of complexity and costs have ballooned.
After a relentless bombardment of bad news and uncertainty, Plimsoll would like to shine light onto some British industries that have rediscovered their mojo in the latest year. These are markets that have been through a period of immense difficulty and hardship.
However, as the fog of the pandemic begins to clear and the world tries again to get back to some sense of normality, the following industries have emerged from a relative state of despair to find renewed optimism:
| Industry |
% Making A Loss |
Sales change |
Margin change |
|||||
| Fireplace & Stove Retailers |
35% |
15.2 |
3.9 |
|||||
| Florists |
31% |
15 |
0.4 |
|||||
| Vitamins & Supplements |
23% |
10.6 |
0.1 |
|||||
| Garden Products |
15% |
10 |
2.3 |
|||||
| Stockbroking |
20% |
7.8 |
3.1 |
|||||
| Geotechnical & Geoenvironmental Specialists |
28% |
7 |
0.2 |
|||||
| Sign Making |
37% |
6.9 |
0.1 |
|||||
| Residential Managing Agents |
25% |
6.8 |
0.2 |
|||||
| Marine Engineers |
32% |
5.1 |
0.2 |
|||||
| Onshore Wind Farms |
27% |
3.9 |
6.5 |
As the table above shows, there is an eclectic mix of industries highlighted and the difference in performance measures is reflected in the results. Some industries have recovered from the deep, almost ruinous loss-making back towards break-even in the latest year. The biggest swings in profit performance are:
Best profit recovery - Fireplace & Stove Retailers
As with all retail, the last 2 years have been far from ideal as shopping facilities remained deserted. However, the pivot towards online retailing coupled with a boom in the property market has seen profits improve markedly in the latest year. From almost 0% in the previous period, average profit margins now sit at a respectable 3.9%, reflecting increasingly favourable trading conditions.
Best sales recovery – Florists
With a complete cessation of weddings, funerals and other formal events over the past few years, demand for flowers has taken an unprecedented hit. Being below 0% for the past 18 months, demand is up 15% year on year and continuing to recover as venues have reopened and events have restarted. The market will be hoping that the end of Plan B will be the last of the disruption to the market.
The best improvement in financial health – Onshore Wind Farms
While not registering the lowest percentage of loss-making, endangered companies, Onshore Wind Farms have seen the biggest decline in the number of companies in trouble. Could the green revolution finally be starting to bear fruit in the UK as we emerge from the pandemic more environmentally aware?
As the country moves past the worst of the pandemic and new data becomes available, the picture is sure to change. Just as some industries prospered amid a locked-down society, as normality seeps back at, hopefully, a faster rate the picture could change rapidly. Make sure you keep up with the changes.
Whatever the prevailing, post-pandemic trends in your own key markets, Plimsoll has the analysis you need to ensure your company is among its best performers. If you are at the leading edge of the recovery in your market, we can show you how you compare and who are the up-and-coming threats. If you are struggling to identify a route back to stability after a chaotic few years, we can help you identify the KPI’s you need to hit and learn how the best in your market achieve their results.
To find out how your market is faring and who the best and worst performers are, visit www.plimsoll.uk and search for your industry today.