London, UK: Accountancy and business advisory group BDO has published its Logistics Confidence Index for 2024 which shows that the UK logistics sector has seen a “remarkable recovery, with confidence bouncing back from near record lows in 2023”.
This year’s score is 57.6, up from 47.3 in 2023. This is the highest level of confidence since the second half of 2015, excluding the Covid-19 bounce back in 2021, says BDO.
The main findings are:
- 82% of logistics operators expect business conditions to stay the same or improve in the next 12 months
- 70% of respondents expect turnover to increase, with 50% anticipating a rise in profits
- When asked about strategic priorities for growth, 73% of firms selected both cost control and increasing market share in existing markets
- 65% expect significant capital expenditure in the next 12 months, a slight drop from last year.
Jason Whitworth, partner, M&A Advisory and Logistics & Supply Chain Management, said: “This year’s Logistics Confidence Index is a remarkable recovery from 2023, when we saw business sentiment plummet in the face of challenging market conditions.
“The marked change in sentiment recognises the more favourable trading outlook, and the resilience businesses have built up from successfully navigating a difficult period, which has placed immeasurable pressures on logistics providers.
