đź•’ Article read time: 3 minutes
Logistics leaders surprisingly optimistic about the outlook for the sector
A qualitative survey of 100 senior logistics professionals, including chief executives and finance directors of major 3PLs and freight forwarders, reveals that a majority of respondents are optimistic about the future.
The report – Will Covid-19 Accelerate the Consolidation Trend? – was jointly commissioned by Carter Backer Winter LLP (CBW) and Logistics UK and undertaken by the leading logistics business intelligence company Analytiqa. It surveyed companies’ expectations for mergers and acquisitions (M&A) activity in the sector over the next 12 months.
Summarising the key findings of the report at a recent webinar, Philip Bird, Partner in Corporate Finance at CBW, said he thought the survey was a very good barometer of confidence in the sector. During the undoubted challenges presented by the pandemic, he said it was rewarding to see the logistics sector showing its resilience and its ability to adapt to changes in customer behaviour. This was reflected in an average optimism score for the next 12 months of 6.3 out of a possible 10 among the survey’s respondents.
Describing the 6.3 score as surprising but encouraging, Bird said: “I think it just reflects the innate optimism and ability of the logistics sector in the UK to respond to the challenges that it faces. The pandemic is a first for all of us, but the sector has clearly demonstrated in the past its ability to ride through economic recessions and come through in a much stronger form.
“If there’s one conclusion for us that comes out of this survey it is that optimism will carry the sector through and bring it out in a much more robust form.”
David Wells, Logistics UK’s Chief Executive, echoed Bird’s sentiments. “I remain optimistic,” he said, “Our sector is a resilient sector. The government and the public are starting to understand that logistics is the engine of UK plc. We deliver on behalf of our economy and I think we will carry on doing that with success”.
* You can read the full report at www.cbw.co.uk/logisticsreport2020
Published On: 22/09/2020 17:23:12
Comments Section
If you are a Logistics UK member login to add comments.
