Mullen Group has outlined its 2024 business plan, which will see an $80 million capital investment, including $10 million spent on sustainability and emissions reductions.
Murray Mullen, senior executive officer, said in the release: And just like last year when we outlined our plans for 2023, there are clearly reasons to be cautious. But this economy has proven to be more resilient than we believed. Consumer spending remains strong despite rising interest rates and central bank efforts to cool the economy. ”
He said the company's performance in October and November was strong and that full-year results could exceed expectations.
“In developing our 2024 plan, we considered many factors to determine whether there would be significant changes in the economic outlook or within the industries we serve,” Mullen said. “Generally speaking, we see little evidence of sustained economic growth. Therefore, we assume that next year's overall demand will be consistent with current levels. However, on the supply side, there is potential Many of our competitors are struggling under pressure from rising debt levels, rising interest costs and tighter lending standards.
Mr. Mullen outlined his 2024 business plan, which focuses on: His capital investment was $80 million. Optimize operations and deploy technology to prioritize profits over market share. Pursue acquisitions both as a tuck-in and as a strategy. Maintain balance sheet flexibility.
