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UK CEOs are more optimistic about their companies’ fortunes than their European counterparts, finds research.

Some 79 per cent of UK managers are upbeat about revenue growth in the next year compared with 64 per cent of CEOs surveyed across Eurozone countries, according to PricewaterhouseCooper’s annual global survey of more than 1,200 companies.

While only 29 per cent of UK CEOs are ‘very confident’ of growth in the next 12 months, 46 per cent are very confident over the next three years and at least 92 per cent ‘somewhat confident’ of growth over three years.

Overall, UK business leaders say the outlook for global economic conditions remains challenging, with 89 per cent of UK CEOs believing they will not improve, or decline further in 2012.

Ian Powell, PwC chairman says, ‘Our prognosis is that CEOs should expect the current pattern of volatile financial markets and relatively slow growth in western economics to continue. The challenge for the UK CEO is ensuring that their companies remain flexible, maintain cost controls and restructure to adapt to this slower growth environment.’

UK CEOs say their best chance for growth in the next 12 months is more likely to come from increasing their share in existing markets, with less than a quarter (22 per cent) looking for growth from new products or services, and 18 per cent from new geographic markets.

Adds Powell, ‘Growth opportunities still exist, particularly in faster growing emerging market economies and where new technology is opening up possibilities – in areas as diverse as online retailing and low carbon energy.

‘The challenge now is to ensure that the experience of slower growth in traditional markets and the uncertainty created by more volatility does not prevent them taking advantage of these areas of new opportunity.’

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