Semper Workforce Solutions has announced the results of the 2022 second quarter survey of printing and packaging companies, including: commercial printing, packaging, display and large format graphics, apparel and decorating, and others.
“Looks like record profits for the second quarter – these are some of the highest numbers I’ve ever seen,” said Dave Regan, Semper International Co-Founder and CEO. “Companies should be building their cash to weather the coming interest rate hikes, but not all shops are doing well. Not all is “rosy” as you will see in the survey with many businesses reporting steady sales and some reporting decreasing sales. With the Fed on its inflation rampage we suspect the next survey will really show us some impact of their actions.”
Survey highlights include:
• Estimated revenue showed a decent spread in company size based on sales with a large amount under 2 million and equally larger number more than 10 million.
• Several respondents showed low single digit profit percentages or a loss, however 70 percent of respondents indicate their net profit margin is north of 8 percent, a historically healthy number.
• Q3 projections reflected a very strong belief that regardless of macroeconomic head winds the 3rd quarter would show a strong increase in sales.
• Company hiring plans showed a strong intention of hiring, with only one respondent indicating a reduction in staff and another maintaining current staffing level. All other respondents are planning to expand their workforce.
• Recruitment strategies have shifted from relying on internal referrals to heavy utilization of job boards and temp agencies – as stated by 80 percent of the respondents.