More respondents met their revenue and profit targets than had fallen short. Photo: 123rf.com
The improving mood flowing through the business sector is showing itself among the financial heads of companies.
A new survey of chief financial officers (CFOs) by recruitment firm Hunter Campbell, tax advisors Tax Traders and economics consultancy Infometrics showed a net 30 percent of the 173 surveyed were upbeat about their growth outlook for the year ahead.
Infometrics chief executive and principal economist Brad Olsen said there were economic challenges ahead, but a fair portion of CFOs expected modest to strong growth.
"The bulk of CFOs, at 42 percent, expecting challenging conditions but still with opportunities for growth, 12 percent expect similar results as they're currently experiencing, while only 16 percent are feeling pessimistic about the year ahead."
He said despite the slower economy, more respondents met their revenue and profit targets than had fallen short.
"Higher costs are clearly hitting, but despite the challenges out in the economy, it was encouraging to see 41 percent of CFOs report they had met or exceeded their revenue growth target in 2024, and 37 percent had met or exceeded their profit growth target."
However, the survey also showed a narrow margin in those believing the broader economy would decline in the year ahead.
Hunter Campbell managing partner Lee Marshall said the survey gave a deeper insight into the role of CFOs and their future priorities.
"Over the next year, 92 percent of CFOs expect to be grappling with macro factors outside their control, and are focused on monitoring profitability, cashflow, and costs - all key factors for CFOs."
However, a clear majority believed their role was broader than traditional compliance and finance, although work stresses were described as significant by nearly two-thirds and a similar margin were finding it difficult to find suitably qualified staff.