Engineering and design-build firms see no growth in 2009 and may be optimistic in predicting a 6% revenue rise next year, according to a survey of about 200 company chief executives’ sample comments at an Oct. 22 meeting in New York City. The CEOs, whose firms had $79 billion in 2008 revenue, cut by one-fifth their prediction made last year of 2009 profit growth, but it still averaged 10%, says the survey by Environmental Financial Consulting Group, a New York City financial advisory firm. EFCG President Paul J. Zofnass said only 3.5% of respondents predict a loss this year, but
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.