Monday, September 16, 2013

Fact of the Day - the Hoarders

The combined amount of gross cash amassed by FTSE 100 businesses has grown by £42.2bn, or 34 per cent, since the financial crash of 2008 to reach a record £166bn. Stripping out debt and other liabilities, the net cash position of Footsie stocks – excluding banks and other financial services companies – has posted a six-fold rise, soaring from £12.2bn in 2008 to £73.9bn this year.

Justin Damer, commercial director at Capita Asset Services, which compiled the data, said: “They have continued to hoard cash even as the economy has gone up through the gears..."

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