Friday 23 February 2018

Seven out of ten finance chiefs reveal companies' return to growth

Sarah Stack

Sarah Stack

SEVEN out of ten finance chiefs have revealed their company has returned to growth with many predicting further improvements this year.

A new survey found half of the chief financial officers (CFOs) at large Irish companies were optimistic about the financial prospects of their company in the first three months of the year.

A quarter of those quizzed indicated they did not need funding from banks during the first quarter, with borrowings largely expected to remain unchanged or to decrease over the coming twelve months.

However talent costs, fuel/energy prices and industry specific regulation were listed as the top three external factors which may impede businesses over the coming year, the Deloitte study stated.

Shane Mohan, a partner at Deloitte, said it was encouraging that CFOs are feeling more optimistic about the financial prospects of their company.

“This is attributed largely to external factors such as the overall economic situation and industry trends,” said Mr Mohan.

Elsewhere, none of those surveyed believed unemployment rates will rise, with almost eight out of ten expecting it to continue to fall.

On availability of talent, a slight majority of CFOs – 55pc - indicated they were not finding it difficult to employ individuals with the required skills and knowledge for available roles.

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