BLACKBURN and Burnley were today named as the best places in Lancashire to make money.

In a league table based on profit margins made by companies, the two East Lancashire towns came out top in the county

And they beat off almost every other area in the North West with only Warrington and Oldham coming higher.

The business survey findings come as hundreds of new jobs continue to be created in East Lancashire - mainly thanks to the M65 extension which has breathed new life into the local economy.

Dozens of firms from other parts of the country and overseas have moved into the area or announced investment plans over the past two years. And many existing East Lancashire firms have expanded into new premises along the M65 corridor.

But the good news is tainted by the continuing problems many manufacturing firms in East Lancashire are suffering and recent weeks have seen hundreds of local job losses blamed on the effects of the strong pound. The survey, compiled by business information firm Experian, was carried out using figures from the most recent accounts filed at Companies House - often relating to trading more than 18 months ago.

In the survey, Blackburn came joint 63rd and Burnley 78th out of 285 towns and cities throughout the country. Lancaster came 81st, Preston 130th, Blackpool 183rd and Morecambe 201st.

Worthing was top and Folkestone bottom.

Economic development chiefs in East Lancashire today welcomed the survey's findings.

"Blackburn has some very dynamic companies many of whom are world leaders in their particular sectors," said Steve Hoyle, assistant director of regeneration for Blackburn with Darwen council

"This, coupled with the excellent motorway connections, a highly skilled labour force and a good business support infrastructure, means that companies can prosper here."

And a spokesman for Burnley Borough Council said: "We are very pleased to see Burnley near the top and it shows that efforts made over recent years by the council are bearing fruit.

"The work that is being done to attract new firms to the area, develop sites and offer grants is continuing those efforts."

The league table was compiled by analysing the total level of profits against total sales of almost 200,000 companies.

Lancashire was the joint 20th most profitable county in the country out of 33.

Other North West towns which came below East Lancashire's included Bolton (122nd), Wigan (181st), Rochdale (182nd).

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