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Profits fall as industry turnover drops by over 30%
The BFM's latest survey of industry performance across all subsectors shows that average profit margins have fallen by 2% compared to last year and that 37% of the industry are making a loss or are at breakeven. Fewer redundancies are anticipated in the coming months but short time working prevails. For the full report go to members area
The survey looks at the performance of the industry as a whole and 9 subsectors including output (domestic and export), factory gate prices and movements in the cost of individual materials such as foam, fabrics, springs etc. As a percentage of sales, industry and subsector averages are shown for direct labour and materials, total overhead, distribution costs and net profit.
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