Profits static as half of firms raise prices

MORE than half of businesses have cut their prices in the last six months but figures show this has done little to improve profitability.

This is according to the latest InterTradeIreland business survey, which also found that almost half of all companies believe labour costs are still a key concern for them.

One of the main problems for businesses has been the increased demand from a third of customers who have requested longer payment terms. Encouraging bank lending was also cited by one in five companies as something that the Government could do to help them.