Confidence is improving in the UK logistics sector, according to a survey of senior executives in the sector.

The bi-annual Logistics Confidence Index, commissioned by Grant Thornton and Barclays, gave a reading of 60.3 for the first quarter of 2013. Compared with six months ago, this represents an increase of 15 per cent.

Director of corporate finance at Grant Thornton Philip Bird said: "The cautious optimism we're seeing in the sector supports much of the more recent economic data that has been published".

Report results show that 35 per cent expect improvements for business conditions through the rest of the year, while 71 per cent predict increased revenue over the next year. Similarly, 52 per cent are forecasting a rise in profitability.

As a result, Grant Thornton expects this optimism to push additional expenditure in logistics, as 64 per cent stated they are looking to invest in the coming months. This also relates to growth of employment, with 43 per cent expecting to hire before the end of 2013.

In terms of finding the main cause of the growth, 21 per cent looked to current customers as a main source of new business.