U.K. moving companies are becoming leaner even as revenue slips, according to Plimsoll Publishing’s Mid-Year Review of the industry.
The report, which is based on the latest accounts from 312 of the 750 moving companies it tracks, shows that the topline is mixed, with 55% reporting a decline in sales (up from 53% in the prior review), and with average sales growth swinging between +2.1% and -5%. Overall profit margins slipped further, too, down to 0.7% from 0.8%.
In response to declining revenue, operational metrics moved the other way. Sales per employee rose 5.5% from £110,000 to £116,000, and average cash growth turned positive, up to 1.6% from flat, with fewer companies burning through their reserves.
IAM Member Impact: The numbers point to the United Kingdom moving industry doing more with less — trimming overhead and improving output per worker.
Source: Plimsoll Mid-Year Report