Deloitte’s CFO Survey shows that the UK’s largest businesses are entering 2013 in a more optimistic mood than they entered 2012, but continue to favour defensive strategies in a low growth environment.

Key findings:

• CFOs enter 2013 in a more optimistic mood than they entered 2012;
• But alongside these signs of confidence, CFOs continue to worry that growth will be in short supply this year;
• CFOs seem less concerned about company-specific issues such as margins, cash flow and credit availability;
• The balance sheet strategies of CFOs have become increasingly defensive and large companies enter 2013 ith a stronger focus on cutting costs and bolstering cash flow that at any time in the last 2 years;
• Yet CFOs have not closed the door on growth – about half of CFOs think that troubled economic times creates opportunities to take market share and expand capacity;
• When asked about the appropriateness of current policy, monetary policy is seen by CFOs as being the most appropriate policy whilst the greatest concerns relate to regulation, infrastructure, energy and immigration.
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