COUNCIL leaders have reacted with astonishment to Warrington dropping 105 places in a list of the most profitable towns in Britain.

A survey by business analysts Experian has ranked the town 107th - after it came second last year.

The estimated average profit margin for Warrington was 5.73 per cent - 13.84 per cent down on the 1998 figures. Sussex town Worthing came top for the second year running.

The borough council's chief executive Steven Broomhead said it was hard to believe the survey because Warrington was a successful and profitable town.

He said: "The reaction in the council to this survey has been one of utter astonishment. There are a number of other external surveys which appear to go against the findings of this one.

"The Office for National Statistics states a 13 per cent growth in the number of jobs in Warrington between 1995 and 1997. The average unemployment figure is 2.9 per cent - considerably lower than the national average.

"There is considerable demand for business properties in the town and this would just not happen if profitability was suffering. Warrington is a very buoyant place and there is nothing to worry about."

A spokesman for Experian said the profit margins were calculated by the number of limited companies in the town. He said: "If one company has had a drop in profits, it therefore drags the other businesses down - in the same way that if one company makes a big profit it increases the profit margin."

The survey does have some good news for Warrington - it still ranks above the national average for profitable towns and comes ahead of major cities Leeds, Liverpool and Nottingham.

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