BusinessCompany NewsBritish companies sound profit alarms

British companies sound profit alarms

117 profit warnings in Q1

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.

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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