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Midsized companies see profit rebound ahead.

A midyear survey of 218 mediumsized U.S. manufacturers with sales ranging between $10 million and $500 million conducted by Grant Thornton found 56% expected to report improved profits for the current year. In a similar survey conducted in November 1991, only 44% anticipated rising 1992 profits.

Another 35% of the midsized companies believed 1992 profits will equal last year's, compared with 43% in the previous survey. Only 7% looked for lower 1992 profits, down from 12% last November.

Grant Thornton partner Michael N. Cantwell stressed that the expected profit recovery will come after two lean years. He said, "It's important to remember the past two years have taken their toll on some companies. Not only have they been battling a lingering recession but they've also been hard hit by increased foreign competition at home."
COPYRIGHT 1992 American Institute of CPA's
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Copyright 1992, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Journal of Accountancy
Article Type:Brief Article
Date:Sep 1, 1992
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