Chris Lynch
Chris Lynch is a journalist, videographer and content producer, broadcasting from his independent news and production company in Christchurch, New Zealand.
A survey of chief financial officers (CFOs) across New Zealand has shown a surprisingly strong outlook for growth over the next year, despite facing economic challenges.
The inaugural Hunter Campbell Mood of the CFO Survey revealed that 30 per cent of CFOs feel optimistic about their company’s performance in the next 12 months, expecting modest to strong growth.
Meanwhile, 42 per cent anticipate challenging conditions but still see opportunities for growth, 12 per cent expect stable results, and only 16 per cent feel pessimistic about the year ahead.
Infometrics chief executive and principal economist, Brad Olsen, said the survey also highlighted solid performance over the past year.
While 21 per cent of CFOs reported revenue declines and 29 per cent reported profitability declines, 41 per cent met or exceeded their revenue growth targets in 2024, and 37 per cent achieved or surpassed their profit growth targets, indicating resilience despite rising costs.
Lee Marshall, managing partner at Hunter Campbell, said, “We’re pleased to gain deeper insights into how CFOs across New Zealand are feeling and what they are focusing on.
“Over the next year, 92 per cent of CFOs expect to deal with macroeconomic factors beyond their control and are focusing on profitability, cash flow, and costs. At the same time, 48 per cent are looking to identify the right investments for growth and leverage technology, showing their forward-thinking approach.”
The survey, conducted by Insights Exchange in partnership with Tax Traders and Infometrics, had 173 senior finance professionals respond between 13 June and 26 July 2024. It aimed to capture the perspectives of CFOs, who play a crucial role in business strategy and performance.
Nicola Taylor, co-founder of Tax Traders, said the survey results underscore the evolving role of the CFO.
“Only three per cent of CFOs believe their role should be purely focused on traditional compliance and finance. The modern CFO is now seen as a leader, not just of the finance team but within the broader company culture, contributing commercial acumen and leadership,” she said.
Other key findings from the survey include:
– 60 per cent of CFOs are experiencing significant work stress.
– 60 per cent find it challenging to source the right talent for their teams.
– 93 per cent believe their value is evident through building stronger and more capable finance teams.
– 91 per cent agree their impact is visible across the entire business.
– 81 per cent say modern CFOs need commercial and business acumen.
– 72 per cent believe that people leadership skills are essential for modern CFOs.
– The economic outlook among CFOs is mixed, with 36 per cent expecting the economy to decline, 35 per cent predicting it will remain the same, 23 per cent believing it will improve, and six per cent finding it hard to predict.
The full Hunter Campbell Mood of the CFO Survey report is expected to be published in the coming weeks.
This article was originally published by Chris Lynch Media.
