BusinessCompany NewsFTSE100 gives less than 1% of profits to charity

FTSE100 gives less than 1% of profits to charity

FTSE100 companies give less than one per cent of their profits to charity, latest figures reveal.

Link: Band Aid receives £4m government boost

The Giving List, published in The Guardian, revealed that the top 100 companies listed on the Stock Exchange gave an average 0.97% of their profits to charity and community causes this year.

This was the same level as in 2002 but an improvement on last year, when the average slipped back to 0.8%.

Taking pride of place was Royal and Sun Alliance. The insurance giant donated 8.7%. Second was ITV, which gave 6.8%. Rounding off the top three was Northern Rock, with five per cent.

In cash terms, pharmaceutical group GlaxoSmithKline donated the largest single amount. Although it came eighth on the overall list in terms of percentage of profit donated, its figure of £144m was the highest.

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