Friday, 19.10.2018
 Daily news from the Canaries and the islands' biggest English language newspaper on-line
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News from the financial sectors in Spain and the Canary Islands
   News from the financial sectors in Spain and the Canary Islands

Margins reduce
Profits continue decline
Spanish companies are now earning almost two thirds less than they did before the crisis.


Profits continue decline

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00.00.0000 - Profits dropped 15.5 per cent last year, but this year has been even worse with a 27.4 per cent drop in the first nine months and the Bank of Spain is calling for a generally wage cut in line with the public sector cuts and group wage agreements more in line with reality. Overall, profits are down by 62. 8 per cent since 2007. The biggest losers are those with temporary contracts who find themselves unemployed and some of the losses are down to payoffs for redundancies.



Canary Property Guide
ic media group