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AUDITEL CAN HELP WHERE BUSINESSES FEEL THE HEAT OF RISING ENERGY COSTS UK businesses are experiencing above-inflation increases in core business costs leading many to cut back, new research shows. The findings from the Royal Bank of Scotland show that 55 per cent of those surveyed have seen their energy costs grow faster than the current rate of inflation, which stands at 5 per cent (see chart). Additionally, 23 per cent say that the rise in energy costs has been higher than 10 per cent.  On the back of this, two thirds report that they will tackle the issue by cutting costs in 2012, while 14 per cent say that they would look at cutting back on staff. Peter Russell, head of the manufacturing sector at RBS Corporate and Institutional Banking (CIB), comments, 'There is little or no respite from increased energy costs for many medium-sized businesses. 'These are core costs which have a direct impact on price competitiveness. Whilst commodity prices have eased back of late, businesses remain focused on how to tackle mounting energy costs. In these difficult times it is proving much harder to pass on these costs to their customers, leaving profit margins under significant pressure.' For over 15 years Auditel has dedicated itself to becoming the leading specialist energy cost and purchase management consultancy in the UK and now helps thousands of organisations reduce financial waste and increase profits. For more information and a free business health check contact; John Lynch at Auditel on 01698 268383 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it Or visit our website at www.auditel.co.uk/johnlynch |
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