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Builders’ profits fall as economy falters, warns Federation of Master Builders | Latest
Builders are feeling the pinch, seeing their profits tumble as the pressures in the economy mount. Small, local builders are facing an uncertain few months ahead with growing concerns about insolvencies, as they tackle increasing inflation, the knock-on effects of the war in Ukraine and a customer base looking to tighten its belts.

In the most recent State of Trade Survey from the Federation of Master Builders (FMB), a staggering 49% of small builders have had a negative impact on their profit margins in the last quarter. For many small, local tradespeople, these margins are often fairly tight even in the good times. The FMB warns that without clear political and economic direction, during the summer under the caretaker government, the industry will face an uncertain future.

Price rises are unrelenting with 98% of builders experiencing material cost increases and 81% passing on these costs to customers. Material shortages and struggles to find skilled labour still plague the sector causing job delays for the majority of FMB members. 71% of builders have delayed jobs due to a lack of materials and 61% are delaying work owing to a shortage of skilled tradespeople. Enquiries for new work are also down, at their lowest levels since the pandemic.  

 



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