EU companies flush with cash, set to invest: Study

PARIS, Sept 15 (AFP) : European companies have close to a trillion euros in cash -- far more than before the financial crisis -- and are set to invest heavily during the next 12 months, auditor Deloitte said on Monday.
Companies in Europe had 936 billion euros ($1.2 trillion) of liquidity in 2013, up from 916 billion euros the previous year, the consultancy group said in a study.
However, these funds are unevenly distributed, with just 17 per cent of companies holding three quarters of the cash, it said.
The sectors showing the biggest cash reserves are industry (325 billion euros), energy (256 billion) and consumer goods (175 billion).
"This recovered liquidity is a sign that Europe is exiting the crisis and that its present intention is growth and investment," said Katia Ruet, a partner at Deloitte.
Among the companies surveyed, 59 per cent said they were willing to invest in the coming months.