One hundred and seventeen British companies joined the 300 that have already listed profit warnings in the past nine months, Ernst & Young has discovered.
It's the highest number of companies to concede lower than expected earnings since 2001.
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Numbers aside, the "tone" of the messages contained in company announcements has darkened, EY insolvency partner Keith McGregor told The Independent.
The findings contradict recent suggestions of "green shoots" following a survey from the Confederation of British Industry that found the effects of the credit crunch were becoming less severe for companies.
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