That’s the message from logistics companies in Hampshire and Dorset who attended an event hosted by Grant Thornton and Barclays last week (September 26) to discuss the future of the industry.
The logistics industry is a key driver of Hampshire and Dorset’s economy, with commercial ports in Southampton, Portsmouth and Poole importing and exporting millions of pounds worth of goods every year that require onward transportation.
Grant Thornton and Barclays’ logistics roundtable event, held at Jury’s Inn Southampton, saw senior figures from companies such as Import Services, Meachers and Williams Shipping discuss where future opportunities were and what hurdles the industry had to overcome. And while the administration of Southampton-based Eagleway Freight and liquidation of Huelin-Renouf Shipping Limited, have caused a stir this summer, logistics firms say they remain confident about their prospects.
Their optimism backs up recent research by Grant Thornton and Barclays, which shows a significant increase in confidence for the industry throughout the first half of 2013, compared with the previous six months.
The bi-annual Logistics Confidence Index*, commissioned by business and financial advisers Grant Thornton UK LLP and Barclays, showed an overall confidence reading of 60.3 for the first half of 2013 – a 15 per cent rise on the previous six months.
The research follows the news from Grant Thornton and the ICAEW in early September that business confidence across all industries in the South East is at its highest level since Q2 2010. Similarly, confidence in the South West increased to its highest level since Q3 2010.
Andy Maddocks from Grant Thornton’s Southampton office, who chaired the roundtable event this week, said: “The UK’s logistics sector is in many ways a barometer of the overall economy. The cautious optimism we’re seeing in the sector supports much of the more recent economic data that has been published. Local logistics firms do have many opportunities to look forward to in the coming months and years, not least the £150m expansion of the container port at ABP Port of Southampton in January 2014.”
Rob Riddleston, Head of Transport and Logistics at Barclays, added: “The Logistics sector has been through a difficult few years as economic conditions have been challenging, therefore it is pleasing to see that the industry is looking forward to improved prospects. The industry is now well placed to help the economy continue to grow as we enter recovery mode, and with a number looking to explore new sectors and services lines, there is realisation of a need to adapt and continually improve.”
Gary Whittle, from Meachers Global Logistics, which is based in Nursling, attended the event this week and echoed the findings of the research.
He said: “Logistics companies do have reason to be optimistic about the future. We’ve certainly seen positive shoots and just this week have secured another three-year contract to receive, store and distribute stock for a major UK wood flooring importer. Contracts like this show that companies across the country, not just the logistics firms, are beginning to look further ahead and with a sense of positivity.”
