UK IT suppliers increase spending on R&D


UK IT suppliers increase spending on R&D

Research and development spending as a percentage of sales for UK software and IT service companies has risen from 5.8% in 2002 to 7% over the past year, according to the Department of Trade & Industry's 2003 R&D Scoreboard, published yesterday (20 October).

Despite the increase in spending, UK companies still lag behind international benchmarks, with the world's top 700 companies investing 21.7% of sales values in research and development in the past 12 months.

The report revealed that the share value of the 10 most R&D-intensive UK companies has been higher than the FTSE 100 every year since 1997, with a selection of shares in those companies rising by 30%, compared to a drop of 15% for FTSE 100 companies during the same period.

Science and innovation minister Lord Sainsbury said, "The scoreboard confirms that R&D is key to economic success. R&D helps create the innovative products and services that UK businesses need to compete on the global stage."

Email Alerts

Register now to receive IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

This was first published in October 2003


COMMENTS powered by Disqus  //  Commenting policy