Fewer businesses felt profits were 'better than expected' in Q1

 

Fewer businesses felt their profits were "better than expected" in the first quarter of 2024.

 

In the latest Business Confidence Survey, conducted by Market Research Services, Executive Chairman Don Anderson said only 18 per cent of firms held that view.

 

That's down from 26.3 per cent of businesses polled at the end of 2023, and 20 per cent for the first quarter in 2023.

 

"Sixty-seven per cent expect it to be just as expected.... So again, you may want to take comfort from the fact that that's a 10 percentage point jump from 2023 fourth quarter to first quarter 2024.... But is this comforting? I don't think so, because we need to bear in mind that, really, you want your profit to be better than expected," said Mr. Anderson.   

 

Ninety-five businesses were surveyed.