UK company profits dip

<p>2012 was a bad year for many of the UK’s top firms.</p>

New data shows that profits were squeezed for many of the UK's top companies in 2012.

Research carried out by The Share Centre also revealed sales at Britain's top 350 companies fell in real terms for the first time in at least five years.

The rise in sales announced by the organisation of only 2.1 per cent to just over £2 trillion was below the rate of inflation for the year.

Helal Miah of the Share Centre stated investors will be hoping 2013 sees an improvement on the figures for the previous 12 months.

"The market is implying profits will bounce back to £160 billion this year. That will be hard to achieve and suggests investors are prepared to pay a higher price for profit," the analyst said.

At 16:21 BST today (June 3rd), the FTSE 100 was down by more than 50 points at 6,531.10, a drop of 0.79 per cent on the start of the day's trading.

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