11 Mar 2009

IT industry profits 'on the rise'

Many IT managers are expecting profits to increase this year, according to a recent survey.

Almost a half of executives believe revenue will increase in 2009 in spite of the economic downturn, a study by Eurocom reveals.

The public relations agency's worldwide annual survey also reveals 28 per cent of companies are still planning to recruit in the coming months.

Mads Christensen, network director of Eurocom, says the sector is remaining stable despite technology not being immune to the effects of the dwindling economy.

"IT has an important function to play in helping companies cut costs and boost productivity. Tech companies are working to communicate this message about their products and services," he comments.

Further findings from the study reveal 45 per cent of managers believe it is now easier to recruit IT workers than a year ago.

Richard Waddington, chief executive officer of event management specialist first Protocol, recently advised companies to adopt virtual technology as a means of cutting costs during the economic downturn.