The Economy Appears To Be Improving...
21st October 2013 Paul Andrews
Great boost in sales at Pimlico Plumbers in last four months
Pimlico Plumbers, the UK’s largest independent home services company, is benefiting from the upturn in the economy after it achieved an additional £664,000 worth of additional sales in the past four months.
The Central London-based company, which, in addition to its core plumbing and heating services, offers electrical, small building works, carpentry and drain services to homes and businesses within the M25, achieved a turnover of £5.54 million for the first four months of its 2013-14 financial year – a year on year increase of 13.6 percent.
Throughout the summer, the company experienced monthly increases in turnover of between £95,000 in August with total sales of £1.29m to £146,000 in June with total sales of £1.27m.
Most significantly, the company enjoyed a huge increase in sales during September with turnover up by 25 percent (£320,000) to achieve total sales during the month of £1.61m.
Pimlico Plumbers has also increased its 230-strong workforce by 10 percent during this period and is currently undergoing a recruitment drive to attract up to an additional 20 experienced tradespeople.
Charlie Mullins, founder of Pimlico Plumbers, has pointed to the upturn in the economy as one of the catalysts for the company’s growth, suggesting that confidence is building among businesses and the public, which is encouraging spending.
He is concerned however, that the challenge to recruit suitable staff is tougher than ever due to the economy’s improvement as the pool of available experienced personnel is smaller than ever.
Charlie Mullins said: “Our growth is evidence of sustained confidence in the economy. Earlier in the year there were signs we were returning to pre-recessionary conditions, but, based on our sales, perhaps levels of confidence are a lot higher than many experts may have thought."
“We worked very hard during the recession to maintain our growth and made the business operate more effectively, which has enabled us to enjoy the fruits of our labour with this massive jump in sales."
“In an economy that relies on confidence as much as common sense, it’s heartening that attitudes to spending appear to be improving. More people are investing in their properties or not putting off repairs, which has played a significant part in our continued success.”
Charlie added: “To meet the demand for our services we are continually expanding our workforce. However, while it was easier to find experienced tradespeople during the recession, as the economy has lifted competition to attract these people is fierce."
“This situation is exacerbated by one of the hangovers of the recession where a lack of training and investment in skills across the country has reduced the amount of available candidates. However, we are confident, based on our reputation and the company’s secure future, we can obtain the services of the engineers and tradespeople we require.”