41% of CFOs report met or exceeded revenue growth target in 2024
Chief financial officers continue to remain upbeat despite economic challenges in New Zealand, according to a new survey.
Thirty per cent of CFOs feel upbeat or bullish about company performance over the next 12 months and anticipate modest to strong growth, according to Brad Olsen, Infometrics chief executive and principal economist, in a statement.
Another 42% are expecting challenging conditions but still with opportunities for growth, while 12% expect similar results to what they're currently experiencing, found the survey with 173 respondents by recruitment firm Hunter Campbell in partnership with Tax Traders and Infometrics.
On the other hand, only 16% of CFOs feel pessimistic about the year ahead, according to the chief executive.
Solid performance among CFOs
These outlooks come amid "solid performance" among CFOs in the past year, according to Olsen.
Only 21% of CFOs reported revenue declines, while only 29% recorded profitability declines.
"Higher costs are clearly hitting, but despite the challenges out in the economy, it was encouraging to see 41% of CFOs report they had met or exceeded their revenue growth target in 2024, and 37% had met or exceeded their profit growth target," Olsen said.
Changing CFO roles
Nicola Taylor, co-founder of Tax Traders, said their findings also show that the modern CFO is delivering value through strong and capable finance teams, commercial acumen, and leadership.
"CFOs have transitioned from occupying a purely financial role to one where they are also a leader of people, and someone who builds culture within the company," Taylor said in a statement.
"In fact, only three per cent of CFOs believe they should be purely focused on traditional compliance and finance."
Lee Marshall, Hunter Campbell managing partner, said 92% of CFOs are expecting to grapple with macro factors outside their control, and are focused on monitoring profitability, cashflow, and cost.
"But 48% of CFOs are also focused on identifying the right investments for growth, and making the most of technology, showing how CFOs are always considering opportunities for the future.”
The Hunter Campbell Mood of the CFO Survey also captured 600 verbatim responses from professionals in the industry.
