4
Jan
Finance chiefs 'in confident mood'
Finance chiefs at the biggest companies in the UK are in their
most confident mood for two years, a report has said.
The appetite for risk among chief financial officers (CFOs) is
at its highest since the beginning of 2008, financial services firm
Deloitte said.
Almost four in five of the 128 CFOs surveyed thought the UK
banking system could sustain a recovery.
However, 48% said the economy was their biggest concern in 2010
as they expect any recovery to be weak.
Of the CFOs that participated in Deloitte's quarterly survey, 39
were from FTSE 100 companies and 47 from FTSE 250 companies.
The UK has been in recession for a record six consecutive
quarters but is expected to have returned to growth in the final
three months of 2009.
"CFOs recognised that a financial crisis required a focus on
costs, cash and investor confidence. That response has paid off,"
said Ian Stewart, Deloitte chief economist.
"Today, businesses are lifting their eyes from the recession and
are looking for growth in 2010. The economy and the financial
system are a long way from normal but things are looking up."
Many finance chiefs were planning expansionary strategies this
year, he added.
source: www.bbc.co.uk/news Monday 4th
January 2010