After a prolonged period of economic uncertainty, the majority of construction companies in the UK and worldwide are confident about the growth prospects of their industry, with a large number of firms reporting increased order books, pipeline and profit margins and many planning to expand either into new regions or new sectors such as power and energy, a survey by global advisory firm KPMG has found.

KPMG's Global Construction Survey 2013: Ready for the Next Big Wave reveals that almost three quarters of companies in the UK (73%) are 'positive' or 'very positive' when asked to describe their medium-term outlook (next two to five years). Companies in the Americas and AsiaPacific are even more optimistic, (with 91% and 65% respectively describing the medium-term outlook as ‘positive’ or ‘very positive’).

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Almost two-thirds of UK companies (57%) say they expect their company to grow between one and 25 percent this year (based on 2012 revenue). Again, respondents in the Americas are the most confident when it comes to growth forecasts; 80 % say they expect their company to grow between one and 25 percent this year.

Richard Threlfall, UK Head of Infrastructure, Building and Construction at KPMG commented: "There has been a growing sense in the last couple of months that the worst is over and the results of our survey provide further evidence that construction activity is finally picking up.

"Construction companies now need to invest in growth. What is holding back the industry now is not lack of demand, but the ability of businesses to resource for it and recruit sufficient experienced staff.

"The next round in this highly competitive market will be won by those who have the resources to compete. Companies need to act now, because the industry's resurgence is already underway."

(CD/IT)