BusinessCompany NewsProfit warnings on the rise

Profit warnings on the rise

E&Y research reveals warnings have risen 52% in second quarter

The second quarter saw profit wearnings leap by 52% on the same period last
year, according to research from Ernst & Young.

The Big Four firm counted 97 warnings from April to June this year, an
increase of 33 on the same period in 2004.

‘Business confidence is clearly faltering, and although the economy is weaker
than a year ago, this high level if warnings is a concern,’ said Keith McGregor,
corporate restructuring partner at E&Y.

The highest warning sectors were media and entertainment, and support
services.

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