Export sales decreased for growing numbers of firms in Kent in the last three months of 2017 but expectations for turnover and profits this year remain steady.

More than a fifth of bosses in the county said overseas revenues declined in the fourth quarter, down from 13%, according to a report by Kent Invicta Chamber of Commerce.

Export orders decreased for 22% of firms, up from 14% in the third quarter, although the number reporting an increase in bookings increased by three percentage points to 20%.

Yet the quarterly economic survey also found 55% of bosses expect turnover to grow this year, up five points, while the proportion expecting a boost to profits remained constant at 48%.

“I’m surprised by this,” said Shaun Kelly, a business development consultant at asb law in Maidstone.

“I’m not hearing anything about exports declining.

“Businesses are looking to invest in kit and premises on the back of growth.

“The clients I work with exporting to BRIC countries (Brazil, Russia, India and China) are doing particularly well.

“Corporate finance activity is the biggest it’s been since the banking crash of 2008.

“People are looking to raise money to buy businesses and bigger factories. There is good confidence around at the moment.

“You would think people would be being cautious because of Brexit but small and medium-sized businesses are good at working on things they can influence and not being affected by things they can’t change.”

The Kent Invicta Chamber survey indicated a mild cooling in the domestic market in the fourth quarter of last year.

UK sales increased for 37% of firms, down four points, and UK orders improved for 32%, down two points.

None of the 111 firms questioned said they plan to cut prices, although those planning to increase prices remained constant at 35%.

The report said: “Given the ongoing input-cost inflation and planned price increases, it’s unsurprising that over half of respondents foresee sales turnover rising in the next 12 months.

“At the same time, cost pressures mean that fewer than half our respondents anticipate a rise in profits over the same period.

"Given the ongoing input-cost inflation and planned price increases, it’s unsurprising that over half of respondents foresee sales turnover rising in the next 12 months..." - Kent Invicta Chamber of Commerce report

“Except for an upward blip in 2017 Q1 this relative pessimism has been a near constant since Q2 of 2016.”

There was an improvement in plans to invest in training and equipment, which had been at record lows across Kent in the third quarter.

The number of firms planning to boost spending on training bounced back to 24%, up from 13%, while plans to spend more on kit improved for 19%, up five points.

There was also the usual seasonal boost in employment, with 35% saying they increased employment in the fourth quarter.

Plans to increase the number of employees over the next three months remained constant at 25%.