A new study from market analysts Plimsoll indicates confidence is sweeping back into the UK Telecommunication Services industry. Latest figures show that, despite only a third of firms increasing sales and one in three improving profits, opportunity waits for those that know where to look.
Leading this change are a group of 65 firms who are delivering growth rates of up to 8% with their market share also jumping from 5% to 6 % in just two years.
Plimsoll’s findings concluded:
•65 firms have seen their sales increase by over 8%
•These 65 firms now sell on average £15 million per year up from £10 million two years ago
•Of the 888 firms analysed, the average sales increase is only 2.7%
•However, only 447 companies have increased their sales
David Pattison, Plimsoll’s senior analyst, said: “It really is essential that businesses look for areas of growth in the market and see how they can keep up with the leaders. These 65trail-blazing firms are heading-up the new direction of the market and the other companies will take note of those 65 companies. With salaries up and gross margins down it’s clear as costs grow then sales need to increase to pay for it.”
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