Event reflects on growth in manufacturing exports

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LEADERS from some of Portsmouth’s most promising manufacturing firms met to discuss the future of the industry, just as it was announced that Britain’s export orders are growing at their fastest rate in three years.

According to the Chartered Institute of Purchasing & Supply, exports are growing at their fastest rate since February 2011.

Representatives from companies such as Penta Precision Engineering from Portsmouth; Rimor Engineering, which has bases in Denmead and Waterlooville; and Solent Bodybuilders and Repairs, from Fareham, attended the event, run by the Manufacturing Advisory Service and Grant Thornton in Southampton.

The event featured a number of workshops and one-on-one sessions with financial experts, with topics including tax relief, research and development and patents.

Amanda James, senior manager at business and financial advisers Grant Thornton, and an expert in the manufacturing sector, said: ‘This is yet another indicator that the cogs are beginning to turn for the manufacturing industry.

‘Recent research by Grant Thornton showed two-thirds of companies are looking to focus on exports to fuel growth, so I expect this upward trend to continue as we head further into 2014.’