Industry Update

After the months of March and April proved to be flat I have been encouraged by the increase in activity since the final week of May. It seams that after the fragmented Easter holiday period companies are now focusing on increasing profitability through rationalisation and change management and as one leading executive said in a conversation last week “It was quietly agreed that at the start of 2009 we would almost be forgiven for not achieving profit targets but now that some of the broadsheets and analysts are talking about green shoots any lost revenue will have to be recovered in quarters 3 and 4, 2009 may not be regarded as a write off after all and we all may be measured on recovery performance”.

I’m not sure if the broadsheets and analysts are just talking up the economy to boost confidence but the recent announcement that the PMI level has risen would seem to back up the recovery theory in our sector. The real test for me will be the amount of assignments that close successfully in a market that has shown so far this year that there is a large difference between needing an Interim Manager and securing sign off from the board.

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