OPERATING profits at UK listed companies climbed at their fastest rate for three years in the fourth quarter of last year.

Quoted companies posted a 5.6 per cent rise in operating profits to £10.5 billion between October and December, the latest Profit Watch UK report from The Share Centre found.

However pre-tax profits dropped by 2.6 per cent to £8bn, as profit falls at Imperial Brands, Shaftesbury and easyJet weighed on the overall total.

Helal Miah at The Share Centre said the results showed improvement against a challenging economic and political backdrop.