The logistics industry saw a boost in confidence in the second half of 2013, compared to the previous six months, according to the latest UK Logistics Confidence Index.
Commissioned by Barclays and Grant Thornton UK, the bi-annual Index surveyed more than one hundred industry decision-makers.
It revealed an overall confidence reading of 74.9, an increase of nearly 25 per cent on the first six months of 2013, and 43 per cent year on year.
55 per cent of respondents also believe the outlook is likely to improve in the next six months, expecting more favourable conditions.
84 per cent said their turnover is expected to increase in 2014, and 73 per cent said their profit should rise in the next 12 months.
“Operators have entered 2014 on a strong footing, confident that the wider economic revival will continue to drive demand for logistics services,” said corporate finance partner at Grant Thornton UK, Darren Bear.
“This momentum is encouraging for the sector, however the relatively high level of competition in the sector is putting continued pressure on margins.
“Operators would be wise to keep an eye on value-add opportunities which ingrain them deeper into supply chains and strengthen their roles as critical partners in clients’ success.”