VENTURE capital group 3i, which has stakes in several East Lancashire firms, has enjoyed a profits rise.

The group, which owns shares in firms including Ultraframe of Clitheroe and Inter Link Foods of Blackburn made annual pre-tax profits of £136.6 million, up from £124 million.

In the North West the firm has just over £300.8 million invested.

"Despite the uncertain economic conditions over the last 12 months business confidence is improving," said Ian Nolan, regional director.

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