‘Cautious ­optimism’ as Aberdeen economy rebounds

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Source: scotsman.com 17 May 2017

Aberdeen’s economy is showing signs of “cautious ­optimism” after three years of oil-related misery, a report suggests.

Barry Fraser, Grant Thornton’s managing director in Aberdeen, said: “There are undoubtedly many challenges that still lie ahead for the oil and gas sector in Aberdeen, but we’re seeing some ­glimmers of light after a prolonged period of uncertainty.

“Many North-east businesses are no longer focused on pure survival and are seeing an increase in tender activity and new opportunities, ­particularly overseas.”

Ian Knott, director at the Grant Thornton practice in Aberdeen, added: “It’s reassuring to see the sector and the wider region taking a more positive view of the future, but businesses will also need to keep a close eye on cash resources as they return to growth, as this is a period where we see many business failures due to companies overstretching themselves.”

Source article here

 

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