Financial Times FT.com

Profits suffer in services sector

By Norma Cohen, Economics Correspondent

Published: May 27 2008 03:01 | Last updated: May 27 2008 03:01

Hotels, bars, restaurants and cinemas had their toughest quarter since November 2001, according to the latest CBI services sector survey.

But the gloom was offset by business services firms, such as lawyers, accountants, information technology and recruitment experts. They experienced some growth in business although profits remained flat as they cut prices to draw in customers.

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