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Catering equipment suppliers express post-Brexit worries

24 August 2016 by
Catering equipment suppliers express post-Brexit worries

The latest Business Barometer from the Catering Equipment Suppliers Association (CESA) shows that suppliers are deeply concerned about the future.

Nearly two-thirds of respondents believe the overall economy will not perform as well in the next few months, though only 38% thought their own company's sales would drop. Conversely, in the three months leading up to Brexit, over half said turnover was up.

However, over 80% expect it to remain the same or drop in the coming months.

Looking further ahead, over 46% are nervous or pessimistic about business turnover in the next 12 months, compared with 42% who are cautiously optimistic or confident. The remainder are neutral.

"In terms of confidence, Brexit has delivered a real blow to our industry," said Simon Frost, chair of CESA. "However, the reality over the past few months since the vote is that most CESA members are reporting steady sales.

"The Barometer shows that the two biggest concerns are uncertainty over the UK's role in Europe, and inflation. Some manufacturers, as well as some foodservice operators, are putting investment on hold until there is more confidence in the way ahead. That's understandable but we must be aware of the danger that we might talk ourselves into recession."

The CESA Business Barometer is compiled every quarter. All CESA members can take part, free of charge. Any company that does take part receives a full copy of the report.

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