THE profitability of North West firms fell for the sixth consecutive quarter, the longest decline since the last recession, according to figures out today.
The average return on capital, a leading measure of how profitable a company is, stood at 10.14 per cent in the 12 months to June 2000, according to information solutions company Experian.
That was down from a peak of 13.41 per cent in the 12 months to December 1999.
The report's author, Peter Brooker, of Experian, said: "While productivity has generally improved, the strength of the pound against the euro has continued to hit the region's exports companies, while its weaknesses against the dollar has made imports from the US, as well as commodities priced in dollars, more expensive.
"Manufacturers, in particular, have been unable to pass on these costs and, of course, they have to compete with cheap imports from Europe and the far East."
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