Leamington is the second most profitable town in the country according to a national poll of businesses.

Only Brighton and Hove was found to have a higher percentage of companies making a profit in the annual survey.

Leamington has sprung up more than 50 places compared to its 53rd position lost year.

More than 90 per cent of the firms questioned said they had made a profit last year, compared to 83 per cent last year.

Keir McDonald, chairman of the mid-Warwickshire branch of the Coventry and Warwickshire Chamber, said:

“Leamington has once again shown that it is amongst the most successful locations in the country for business, with over 90 per cent of firms making a profit.

“This is a beacon to which other locations in Coventry and Warwickshire must look, and this good news shows that it is not all doom and gloom when it comes to business in the Midlands.”

The town was the number one in the country for profitable businesses in 1996 and 1997. Coventry was 113th.

Leamington’s figure of 90.2 per cent of businesses in profit was over 10 per cent about the 2000 average in the country.

Philip Mellor, senior analyst at Dun and Bradstreet, who carried out the survey, said:

“It’s good to see Leamington back near top of our table of towns with the highest percentage of large profit-making companies.

“The secret of their continued success is down to the mix of industry and commerce represented in the town and their ability to attract new business though greenfield sites, communication and available staff.

“The fact it is the furthest town north in the top ten is further emphasis that Leamington has done well to come second.”