UK profits creep down

Ben Southwood
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UK COMPANIES made slightly smaller returns in the second quarter of the year, data from the Office for National Statistics showed yesterday.

Private non-financial corporations had a net rate of return of 12.7 per cent between April and June, down from 12.9 per cent between January and March, the statistics showed.

The decline came from a deep decline in North Sea Oil profits – the rate of return at UK Continental Shelf firms dived from 43 per cent in the first quarter to 36.5 per cent in the second. Factory returns were flat and services made bigger profits.