Newly released research by
& Young, shows that in the September quarter, 11 US companies cited the
weakening dollar in their profit warnings. For many exporters and companies with
significant US operations, the weak dollar will continue to drag on profits as
2007 draws to a close.
The report shows profit warnings from UK-listed companies in the third
quarter (Q3) remained stable at 86, compared with 88 in Q2 and 85 in Q3 2006.
Andrew Wollaston, Ernst & Young corporate restructuring partner, said he
had been expecting a correction in the debt markets for some time.
‘In our view, the “credit crunch” will begin to impact UK consumer confidence
and therefore consumer demand in the current quarter,’ he said. ‘Looking
forward, UK plc needs to factor this into forecasts to avoid a rise in profit
warnings in Q4 this year.’
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.