Nearly a quarter (23 per cent) of TMT companies are forecasting growth of more than 20 per cent over the next three years, and almost than two-thirds (62 per cent) are forecasting growth of more than 10 per cent. In addition, an overwhelming majority of CFOs (80 per cent) are confident that their companies will hit their revenue targets for growth over the next three years.

Julian Frost, head of TMT at BDO Stoy Hayward, said that despite there being scores of column inches filled with doom and gloom, there is a light at the end of the tunnel for some sectors of the economy.

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