UK companies outperform European peers says new report
When it comes to the creation of wealth, the largest UK owned companies continue to dominate their European counterparts, according to the Department for Innovation, Universities and Skills 2008 Value Added Scoreboard.
The Scoreboard, released yesterday, shows that the top 185 UK companies continue to be more efficient at creating value, or wealth, than their European peers.
The annual scoreboard uses ̵6;Value Added̵7; by companies to measure the amount of wealth they create. This is particularly important as it reflects the ability of companies to provide their customers with what they want and are prepared to pay for. It shows almost 23 per cent of all European ̵6;Value Added̵7; came from UK companies, more than any other country.
Minister for Science and Innovation, Ian Pearson, said: ̶0;The UK continues to be one of the best places in the world to do business. As we set out in our White Paper ̵6;Innovation Nation̵7; the Government can help ensure we have an environment that enables businesses to grow, innovate and invest for the future.
The Scoreboard lists the value added, or wealth created, by the top 750 European Companies and the top 800 UK companies. It provides a broader perspective on a company̵7;s economic contribution than operating profit.
Key findings include:
- The Value Added by the UK 800 has increased by 9.6 per cent in the last year amounting to some £646 billion.
- The top ten sectors contribute 62 per cent of the UK̵7;s Value Added.
- The E750 companies generated Value Added of £2,027 billion and this was concentrated in three countries: the UK, France and Germany
- The E750 includes the 185 UK Companies which added the most value in the last year.
Image: Ian Pearson, Minister for Science and Innovation