He predicts an improvement of 29 percent in profit for this year, while 22 percent of respondents will worsen. Less than half hope to keep profitability at last year’s level. The situation varies by industry.
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“Companies and entrepreneurs in the field of accommodation, catering and hospitality are particularly optimistic, expecting a 64 percent year-on-year increase in sales and a 48 percent improvement in profitability this year, while only 12 percent predict a deterioration in both parameters,” the executive said. Director of ČSOB Corporate Banking Pavel Prokop.
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According to him, agricultural, forestry and fishing enterprises have more pessimistic prospects, where the year-on-year decline in profit is expected to be 42 percent, while growth is only 16 percent. In construction, 30 percent of officials expect weaker sales and an increase of only 19 percent.
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In addition to the pandemic, the situation is complicated by the sharp rise in costs and the lack of staff. However, the risk to the business sector may be higher.
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“Last year, the business sector sometimes had to deal with unprecedented growth in cost items, a shortage of skilled and unskilled labor, and gaps in supplier-customer relationships. In part, these factors persist this year, in addition to which there is an increase in domestic interest rates or inflationary impulses associated with the transition to carbon neutrality, “Prokop concluded.
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ČSOB also informed on Monday that almost half of Czech companies last year modernized machines and technology or invested in automation or robotics. The companies also took advantage of temporary restrictions on pandemic operations for long-delayed renovations and maintenance.
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| Business expectations index: Sales | ||||
| worse than last year | same as last year | as a plan for 2021 | better than the plan for 2021 | |
| Agriculture | 26% | 32% | 21% | 21% |
| Processed. industry | 17% | 36% | 17% | 31% |
| Construction | 17% | 43% | 17% | 22% |
| Shop and car repairs | 17% | 27% | 13% | 43% |
| Accommodation and hospitality | 12% | 20% | 4% | 64% |
| Reality | 10% | 38% | 28% | 24% |
| Source ČSOB | ||||
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