Promising sales growth across the Total annual revenues for companies with year ends up to the end of
After adjusting for the stocks leaving and entering the top 350,
Those tapping into rising consumer spending did well, with sales from general retailers up 12.1 per cent year on year, contrasting with flat performance from the struggling supermarkets.
However, sales growth came at the expense of profit margins, the survey found. At pound(s)77bn, gross profit appeared to be up 3.1 per cent at the headline level, but once the index changes were taken into account, it in fact rose only 0.2 per cent on a like-for- like basis, well below the rate of sales growth.
The biggest drag on gross profits was
Operating profit, a crucial measure of company performance, was pound(s)28.6bn in the quarter, down 6.6 per cent on a like-for-like basis, a fall of pound(s)2.0bn. However total pre-tax profit was pound(s)18.9bn, up 5.8 per cent on a like-for-like basis, thanks to reduced asset writedowns.
Promising sales growth across the
Total annual revenues for companies with year ends up to the end of