Now, Britain is experiencing a boost to its export orders, showing that the pound’s depreciation is supporting overseas demand.
In the same way that Poundland benefitted enormously from the 2008 recession, some businesses have done well out of Brexit. Here is our round-up of some of the post-referendum winners.
Associated British Foods, owner of Primark, stated earlier in the year that it fully expected ‘a marginal decline’ in profits if the UK voted to leave the EU. However, it has since been proven wrong, and is enjoying improved European sales. The company’s optimism has paid off, and profits continued to grow.
The illustrious film studio just outside Slough, UK, creates movies for some of the world’s biggest franchises, such as James Bond and Star Wars. Thanks to Brexit, Pinewood’s services are made cheaper for foreign producers, making it an even more attractive prospect for film-making.
Rentokil is fortunate enough to earn 90 percent of its revenue from outside of the UK, and the company claims that if currency rates remain as they are, it will earn up to £15 million more than expected this year.
Like Rentokil, Rolls-Royce Holdings does most of its business overseas – two thirds in fact – and shares are up two percent. A weaker pound will make its power systems for aeroplanes and ships cheaper internationally, which will in turn boost sales.