Thursday, 23 May 2013 10:48

Chemical industry reports lower sales

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UK chemicals and pharmaceuticals manufacturing companies have reported a fall in sales to customers over the previous six months.

In its latest survey of member companies, the industry’s trade body  the Chemical Industries Association found 44% of companies had seen lower sales volumes, and only 22% an increase.

Looking ahead, on balance companies saw rising sales, albeit by a smaller margin than in the previous survey three months ago: the proportion expecting volumes to increase has fallen from 46% to 39%.

R&D expenditure is also set to be hit with 26% of companies now forecasting an increase, whereas in the last survey 46% expected R&D expenditure to rise.

Commenting on the figures, the Association’s Chief Executive said “It is clear we continue to operate in difficult times. The one encouraging piece of news is that 70% of companies expect employment numbers to increase or remain the same.

"We will be working hard to ensure the contribution of our sector is recognised and we can return to a position where manufacturers in this country and abroad maintain and enhance their buying of chemicals - which are the essential raw materials in so many products we take for granted - from companies in the UK”.

(Image source: ICCA)

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