The UK’s internet companies are lagging behind their European competitors, according to a survey published by Price Waterhouse Coopers.

The poll found that the UK was home to less than a quarter of the top 150 European internet firms, compared to nearly a third in Germany. Meanwhile, only 26% of UK-based web firms are in profit, compared to around 50% in Germany.

There was some encouraging news for the internet sector. The average time it takes a to deplete its cash reserves is now 20 months, seven more than last year.

However, 10% of internet companies are in danger of exhausting their cash supplies within a year.

News source: BBC Online Business News (UK)