Beating the recession: Profit performance in a down year
By almost any measure that can be used, 2009 was a tough year. However, even in the midst of a difficult economy, profit opportunities continued to exist. Just as in good times, some firms didn't merely survive - they prospered. Understanding just how firms adapted to changing circumstances to keep generating adequate profits provides a basis for both immediate action and for future planning.
The recently completed 2010 EASA Operating Performance Report (of 2009 data) provides detailed financial and operating benchmarks for the industry. As always, the primary benefit of the report is that it highlights the distinction between the performance of the typical firm and the high-profit firm. The differences are important in normal times; they are critical in tough times. (This article is based on 109 participants in the EASA 2010 Operating Performance Survey.)