SWMAS, a subsidiary of Exelin Group, has released its quarterly survey on manufacturing performance with Economic Growth Solutions.
The survey analyses responses from 320 industry leaders on performance and its role in business culture.
For the highest rate in three years, 72% of respondents believe there will be a rise in sales in the sector within the next six months.
59% of industry specialists anticipate a growth in profits in the review period, but with only 45% noting an increase in profits in the second half of last year.
The report recorded a 13% rise in workers aiming to invest in machinery and premises to meet targets, raising the number to more than half at 56%.
48% of people aim to hire more staff to help with productivity – 2% more than the previous survey.
“These findings speak volumes. To have two thirds of UK SME’s forecasting continual growth in their order books – alongside increasing profits – confirms the UK’s recent rise up the rankings to the eighth largest manufacturer in the world,” said Michael Gibbs, Managing Director of European Springs and Pressings, a spring manufacturer.
“It’s encouraging to see the sector also focuses on efficiencies through management and lean manufacturing processes to counter external price rises.”
“We’re now heavily investing in new premises, personnel, machinery and efficiency systems in a determined bid to see today’s manufacturing trend continue.”