Suffolk firms performing well - commercial mortgages

27 November 2007

Firms with commercial mortgages in Suffolk are continuing to perform well in spite of the credit crunch, a new report has revealed.

The Suffolk Limited study has found that turnover has risen by ten per cent for the county''s top 100 businesses, with the property and construction sector one of the many to perform well.

That sector saw profits rise by 65 per cent and sales by nine per cent, the East Anglian Daily Times has reported.

"Major construction and regeneration projects across the county continue to attract greater levels of investment as well as supporting local companies through contract opportunities and this is reflected in a relatively buoyant local economy," said Julian Munson of the Suffolk Development Agency, according to the paper.

Businesses are set to receive a further boost in the new year as the Bank of England prepares to cut interest rates, with February currently the favoured date for a 0.25 percentage point cut, according to analysts.