• Saturday, August 13, 2022

Business

UK Services Firms Record Lowest Profitability in Four Years for Q1

UK Services Firms’Record Lowest Profitability in Four Years for Q1 2018.

By: Radhakrishna N S

Average profitability of businesses in Britain services sector declined to its lowest in more than four years in first quarter of 2018 as retailers found struggling to deliver their services, according a data released by UK’s Office for National Statistics (ONS) on Wednesday (22). Britain has witnessed a series of store closures and financial meltdowns this year, including well-known high-streets chains such as department store House of Fraser and electronic retailer, Maplin. The ‘net rate of return’ for services business declined to 17.2 per cent in the first three months of 2018 from 18.4 per cent recorded in the forth quarter touching its lowest since 2013. An abnormal…

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