PRESTON and South Ribble are the North West's new boom towns, according to the latest national business surveys.

Local firms are notching up such a storming success that only one other location is more prosperous, out of more than 200 areas surveyed. Less than 12 months ago Preston was placed 50th.

The survey, compiled by marketing information firm Dun and Bradstreet, revealed Preston had the second highest percentage of profitable businesses, with 90.2 per cent of companies raking in the cash. Preston's Economic Development sub committee chairman, Councillor Graham Worrell, is delighted with the results.

He said: "This clearly shows Preston is a magnet for business growth, and the council wishes to see the benefits of this spread throughout the whole community."

South Ribble Borough Council spokesman said a lot of businesses had relocated to the area in the past two years.

Meanwhile, other results released this week have revealed how well individual local companies are faring.

Furniture manufacturer Tetrad rated 24th in a survey of the UK's top 50 middle market private companies - firms with sales of over £5 million - compiled by Price Waterhouse.

And Northern Leisure, based in Preston and owners of the popular Tokyo Jo's nightclub ranked seventh in an exclusive new business Premier League of Britain's fastest-growing companies.

It beat Manchester United and Airtours to top the 'other services' sector, which included a total of 48 companies.

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