A survey conducted by KPMG found that approximately 64% of the world’s construction industry firms expect to maintain or increase their profits by the middle of 2010.

However, Fiona McDermott, KPMG’s UK head of building and construction, believes that although the construction industry reported a relatively positive outlook, with around half of respondents reporting order books and profit at similar levels to a year ago, there may be worse in store for the industry later on.

She said: “Many companies are living off the profits of contracts secured before the recession, and whether such performance can be maintained is dependent on a number of factors, not least a general economic recovery. Although the sector appears to be in fairly good shape at the moment, we have to ask ourselves: will 2010 be the year that industry feels the pain already experienced by other sectors of the economy?”

The survey also stated that a high percentage of respondents felt that Government stimulus packages will bring a significant increase in opportunities in the next 24 months, although just 12% of worldwide respondents believe they will be of substantial help.

However, those respondents in Asia Pacific were much more optimistic than those in the rest of the world, with 82% of those in the region expecting a moderate or significant increase over the next 24 months.

The findings were as a result of KPMG’s annual global construction survey, which was compiled by interviewing senior construction professionals across 30 countries.