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Survey: 2/3 of Milwaukee-Area CEO's Expect Moderate Profit Growth

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MILWAUKEE, Wis. (WTAQ) - About two-thirds of Metro Milwaukee business executives who responded to a survey expect a moderate increase in their profits this year.

And 7 percent predicted a significant hike in profits. That’s according to the KPMG accounting firm, which surveyed 40 Milwaukee area business leaders, and held a recent roundtable with those officials.

Only 10 percent of them expected their profits to drop. The optimism comes amid concerns of another economic downturn this summer. Brian Mayhew of UW-Madison – who moderated the roundtable – said local business people see 2010 as an “economic turning point.”

Just over two-thirds of the executives said they would invest in new products or services this year, and 56 percent said they would pursue what they called “business transformation” with things like new technology. The survey did not address hiring.

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