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Pastimes : The Hot Button Questions:- Money, Banks, & the Economy
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To: maceng2 who wrote (418)9/8/2003 6:55:15 AM
From: maceng2  Read Replies (1) of 1417
 
British company profits are still falling
Monday, September 08 09:00:44

(BizWorld)

Profits of British firms have slumped for the 16th quarter running, a new survey has shown.

Companies saw their average return on capital drop to 5.76pc in the first three months of this year, according to the Experian Corporate Health Check.
The period of sustained decline in profits is longer than in either of the two previous recessions in Britain, the business information company says.


The health check is compiled from the audited financial results of the 2,000 largest firms in the UK.

Meanwhile, a separate survey this morning claimed that the UK service sector still "far from healthy" and that companies in the sector of the British economy seem to be getting no closer to sustainable recovery.

Carried out for the Confederation of British Industry by business advisors Grant Thornton, it shows that firms that provide services to consumers are struggling to cope with over capacity.

The survey also shows that some business service firms such as employment agencies have shown "a glimmer" of hope for the future.

However, marketing companies and road hauliers report falling trade, it says.

businessworld.ie
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