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But Pester said the pace of profit growth was likely to slow down.
"Management has cautioned that investments in the customer offer will impact the pace of profit improvement this year, particularly in the first half," he said.
The pace of profit growth slowed in North America and Latin America – where Brazil and Mexico weighed on the total – to 4.7% and 3.3% respectively but was 36% higher in Asia Pacific, 30% in Hong Kong and 20% in Europe.
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In other words, the rate for discounting future profits may have fallen but the same applies to the expected pace of profits growth.Nevertheless, it seems irrefutable that equity prices have been pushed higher during the QE process.
As we've seen with the with the epidemic of negligence at Massey Energy here in the U.S., the systemic factors that drive workers into ever-riskier environments aren't merely a bureaucratic regulatory issue, but an endemic consequence of the frenzied pace of profit-making, which subordinates safety issues to productivity goals.
When compared with its profit growth, however, Exponent is one of the pricier finds on the micro-cap list: its price-earnings to growth ratio (PEG), which measures how expensive a company is when compared with the pace of its profit expansion, is 1.61.
That is an annual growth rate of about 25percentt, well above the growth pace of corporate profits.
GKN was a faller after Citigroup said that it sensed a "pause in the pace of its recent rapid profit rise".
Regis can tack on a few more points of profit growth if it keeps up its furious acquisition pace.
While profits are up, and trading profits are buoyant, the pace of lending is not picking up.
It would also mean firms have the ability to increase the pace of wage growth without squeezing their own profit margins.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com