Mining blow for business as BHP Billiton losses drag UK company revenues lower in the third quarter - This is Money

Losses at miner BHP Billiton have dragged UK company revenues lower

Losses at miner BHP Billiton dragged UK company revenues lower in the third quarter of the year.

The latest Profit Watch report from The Share Centre shows revenues at UK plc dropped 0.8 per cent in the three months to September 30, equivalent to £7.4billion.

The report, which analyses companies reporting in the third quarter of the year, said a £4.9billion loss at BHP as well as lower income at Sky and Diageo weighed heavily on figures. 

But with BHP’s number excluded, companies reported their fastest growth levels in two years with revenues up 9.1 per cent over the period.

A weaker pound helped operating profits climb by 7.4 per cent, although three-fifths of companies said their margins were being squeezed.

FTSE 250 companies outshone their larger rivals on the FTSE 100; mid-cap company sales climbed 11.2 per cent, compared to a 6.7 per cent fall among the blue chips.

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