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UK savings up by almost £10bn, says Unbiased.co.uk

Unbiased.co.uk figures show that savings increased by almost £10bn to £47bn in the second quarter of 2007, while borrowing dropped from nearly £13bn to £4bn compared to the same time last year.

The research reveals for every pound saved during the second quarter of 2007, consumers only borrowed 8 pence, down from 32 pence in the previous quarter.

Unbiased.co.uk looks at the ratio of how much Britons are borrowing, not including mortgage debt, contrasted with how much we are saving.

Unbiased.co.uk chief executive David Elms says: “It is extremely encouraging to see that savvy consumers are taking advantage of the recent rate hikes with previously unseen record levels of savings now taking place. Plus it’s even better that Britons appear to have tightened their belts and are approaching borrowing far more cautiously than in previous months.

“However…it’s important to note that personal debt in the UK continues to rise and, as such, UK consumers should continue to be savvy when it comes to saving and spending their money.”

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Apple: a stellar technology story

By Ali Unwin, head of technology sector research

Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.

At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.

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