Business intelligence provider Experian said the sectors average return for the first quarter of 2003 was 6.42%, down from 7.03% in the last quarter of 2002 and from a five-year high of 14.61% in the third quarter of 1998.

This time last year print, paper and packaging companies made an average return of 7.89%.

The best performing sector in the first quarter of 2003 was pharmaceuticals, where the average return was 23.54%.

The average profitability of UK companies also fell below 6% for the first time, according to Experians latest Corporate Health Check, to 5.76% in the 12 months to March 2003.