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Second highest profitability level for service sector

06 April 2016

Data released by the Office of National Statistics (ONS) shows the UK service sector enjoyed a strong final quarter in 2015.

Although less than the revised estimate of 23.2% recorded for the previous quarter, a profitability level of 22% for Q4 2015 is the second highest total recorded since records began in 1997.

Following on the back of other positive forecasts, such as the predicted boom in the outsourcing of cleaning services and CBRE's recent announcement on growing levels of FM business, the ONS survey provides further encouragement for the FM sector.

The figure for the net rate of return of service companies for last year was 21.6%.

This was another record-breaking performance, being the highest annual rate since the profitability study began.

Further analysis shows that service companies' profitability have been on a generally upward trend since Q4 2007.

The result indicates that the service sector has withstood the various ups and downs of economic developments better than others, such as manufacturing.

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