Private companies across the U.S. continued to grow their sales and expand their net profit margins last month, according to a new report.

The report, from the financial information company Sageworks, found that credit risk at private companies also appears to be improving, with the average private company’s likelihood of default currently standing around 3 percent, compared to 4.6 percent a year ago. Overall, sales were strong in January, although they grew at a slower rate than a year ago, while net profit margins were above pre-recession levels.

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