Salaries below par

07 August 2000 00:00  [Source: ICB]

One in four UK chemical companies will be unable to afford next year's salary increases, according to a report by Plimsoll Publishing.

The study analysed 586 companies and found that 226 recorded below-average salaries of £21 500 ($32 500)/year, compared to stronger companies offering £28400 on average. Plimsoll said the most worrying problem for the lagging companies was their inability to generate a good sales per employee figure.

It also revealed that last year only 19 companies managed to increase the number of staff and sales while keeping accounts in the black.

CHEMICAL INDUSTRY STATISTICS, £ '000

Sales per

Average

Salary as

Ave pre-tax

employee

salary

% of sales

profit margin

Companies

95.0

21.5

21

(0.9)

unable to afford increases

Companies

160.8

28.4

17

7.5

able to afford increase

Industry average

134.9

25.3

18

4.0

SOURCE: Plimsoll Publishing

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