Lloyds TSB: Businesses predict profits will fall in 2009

Money News

www.moneynews.co.uk > Banking > Lloyds TSB: Businesses predict profits will fall in 2009

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Lloyds TSB: Businesses predict profits will fall in 2009

More than half of businesses in the UK predict that their profits will fall in the coming year, in the latest indication that the economy has yet to reach its lowest ebb.

According to Lloyds TSB, which conducts a six-monthly survey of businesses' predictions, 55 per cent of the companies they questioned expect their profits to fall during 2009, while only 13 per cent predict they will increase.

Weaker profits are taking their toll on businesses' plans to hire more staff, with the balance of firms planning to step up recruitment falling "sharply", from -9 per cent to -25 per cent.

John Maltby, managing director of Lloyds TSB Commercial, said: "The cocktail of rising prices and falling demand is taking its toll on small businesses."

Earlier this week business secretary Peter Mandelson unveiled a scheme which will see the government invest £20 billion in order to help banks lend to businesses in trouble.

Click here for more general finance newsADNFCR-323-ID-18977840-ADNFCR

Related News : Banking

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Related News : LloydsTSB

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet