A NUMBER of North-East businesses are recording turnovers higher than the national average, a report has revealed.
A national league table said companies in 16 of the region’s 29 Parliamentary constituencies had annual turnover larger than England’s £510,000.
The survey, from the Institute of Chartered Accountants in England and Wales (ICA), said Gateshead was the region’s highest performing area, with average turnover of £704,000, with Washington and Sunderland West, home of Japanese car maker Nissan’s record-breaking plant, standing at £698,000.
Middlesbrough firms had average turnover of £689,000, with the Sedgefield constituency, which is the base for science, engineering and technology hub NetPark, and will soon house Hitachi Rail Europe’s 730-job Newton Aycliffe train building factory, recording £556,000.
Middlesbrough South and east Cleveland was bottom of the North-East list at £330,000, with Durham City below the national average at £508,000 and Darlington slightly above at £515,000.
Stockton North stood at £608,000, though Stockton South was lower at £464,000.
However, the figures were much higher than the lowest figure in London, which was £280,000 in Streatham, and better than the £284,000 recorded in areas of Wales.
London and Westminster topped the list, with average turnover of £1.038m
Stephen Ibbotson, ICA director of business, said: “Teesside does show markedly contrasting fortunes, with the two adjoining constituencies in Middlesbrough and Stockton featuring in the top and bottom of the North-East table.
“Looking at the North East as a whole, it performs better than the national average with around 60 per cent of constituencies in the region recording an average turnover above the national British median figure.”
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