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| EMP Marketing |
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Survey: Construction industry builds on |
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HOME >> NEWS >> Survey: Construction industry builds on |
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 The Upstate New York construction industry is holding steady in spite of turbulent economic conditions.
According to a just-completed survey by the Bonadio Group, construction industry officials remain cautiously optimistic but have real concerns when it comes to such areas as rising health-care costs, worker compensation issues, higher fuel prices and increased material costs.
Of those firms polled, the Bonadio Group found that 94 percent of the companies made a profit in 2006 and 2007 and expect to do so again this year. Some 65 percent are predicting an increase in revenues this year.
“We found through this year’s study that despite a slow economy, most construction companies are making a profit and are still optimistic about the future,” said James Keefe, Bonadio Group partner. “This year, many of the companies that participated are turning their attention to profit improvement and optimization of cash flow, as well as talent recruitment and retention.”
The Bonadio Group identified a few ways for construction companies to improve their bottom line including being more active in joint ventures.
According to the survey on 34 percent of the respondents currently participate in joint ventures.
Bonadio also suggested long-term borrowing to fund equipment purchases. Only 20 percent do that right now, according to the survey’s results.
“The results we compiled from this year’s survey provide contracting and construction executives with critical information for growing their businesses in a slow economy,” Keefe said.
Source: http://buffalo.bizjournals.com/ |
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International Corporate Governance
This issue explores how governance attributes are directly related to the substantial variation - across both countries and companies - in ownership, investment and valuation. |
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