Brexit Preparedness Statement

Since the UK exited the European Union on 31st January 2020 we have been monitoring carefully negotiations during the formal transition period relating to a new trade agreement due to commence 1st January 2021.

Whilst the outcome of these negotiations remains uncertain, to a large extent we will experience minimal disruption because Pinnacle’s business is exclusively UK based.

However, we have identified and are continuing to monitor possible impacts in the following areas:

Supply Chain

We have thoroughly reviewed our key supply chain arrangements in order to de-risk any exposure to increased prices and shortages caused by border issues immediately following the end of the transition agreement. The vast majority of our suppliers are UK based with goods originating in the UK or from non-EU territories. We have on-going and open dialogue with our suppliers regarding any potential Brexit impacts and any risk mitigation strategies required.

Staff

Our HR Team has engaged extensively with our staff on the EU Settlement Scheme and continue to offer support and assistance to ensure that they are able to remain and work in the UK. Our proactive response will result in minimal impact to our employee base. We are however mindful that the uncertainty may result in staffing challenges so our recruitment arm, Pinnacle Recruitment, are working hard to ensure that we have sufficient available resource to staff our contracts at all times.

Economic Uncertainty

Pinnacle has a heightened awareness of the general uncertainty in the economy currently which we continue to monitor closely. The scale and diversity of our business means that Pinnacle is also well positioned to take advantage of new opportunities that may arise.