We read all about profits in newspapers, and the financial results of big companies draw headlines across the press. But when big businesses talk financial results, they talk in big numbers – millions, and hundreds of millions. That leads to the perception that big firms – like energy companies – are ripping off consumers, making unreasonable profits.
So we asked our customers and the general public about perceptions of profit in the UK. We asked 2,000 people how much profit they thought big companies across different industry sectors make – and we found that more than half (51%) thought companies made more than they actually do; and only 13% either correctly estimated (or under estimated) how much they made.
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