HOW INFLATION IS IMPACTING PROTECH

Posted on June 6, 2022 in General Info

Inflation is a key concern for Protech at the moment as “everything is going up”.

We have never before experienced price increases such as we have at the moment with price increases coming from all parts of the business . . . labour, supplies, postage, wages, fuel, energy, it’s across the board. We also know we have tax increases coming in the near future.

We are worried about how a price increase could impact our sales — and ultimately our business, this has resulted in Protech making a loss on some services owing to the increase in costs.

As an example, vehicle fuel has increased by over 30% during the last year, however we are unable to pass these costs onto our clients, which means our margins have been reduced considerably.

Over the next few months, we will be reviewing all systems and procedures looking to improve efficiencies.

We welcome your thoughts and ideas on how we can improve efficiencies and help the company maintain its profit margin.