Corporate profitability remains stable

Overall, these businesses recorded a net rate of return of 9.8% – this is unchanged from the revised estimate for the third quarter of 2022.  

However, profitability of UK continental shelf companies decreased after a continued drop in crude oil prices – resulting in a decrease of 11.2%, going from 23.9% in the third quarter of 2022 to 12.7%. This is the lowest value since the third quarter of March 2021 and the largest quarterly decrease since the final quarter of 2008.  

There were, however, small increases for both the net rate of return for manufacturing and services companies, growing by 0.1% and one percent respectively – with these figures now standing at 8.4% and 15.7%.