UK company profits bouncing back rapidly from record COVID-19 slump, report
Analysts at asset manager J O Hambro said profits for UK businesses dropped 61% in the first 12 months of the pandemic, while the impact on revenues had been “over eight times larger than during the global financial crisis in 2008
Despite suffering a record decline during the COVID-19 pandemic, revenues for UK companies are rebounding rapidly and could see a strong run going forward, according to new data.
In a report published on Wednesday, asset manager JO Hambro said in its new UK Profit Index that the pandemic had caused a “record decline in UK PLC revenues”, which fell 19% to £349bn between April 2020 and March 2021.
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