The number of U.K.-listed companies issuing profit warnings is higher than during the Global Financial Crisis, new report finds [Fortune]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: Fortune
The result? Nearly 20% of U.K.-listed companies have issued profit warnings in the last 12 months, according to a new report released Monday by EY-Parthenon, the consulting arm of Big Four firm Ernest & Young. That's marginally higher than the figure recorded at the peak of the Global Financial Crisis in 2008 at 18%. Companies typically issue profit warnings when they expect their results to fall short of market estimates The issue seems especially dire given that the number of companies listing in the U.K. has fallen by 6% while companies issuing warnings about their profit have ticked up. “Macro-economic pressures, while less intense, have not relented in 2024 and the full impact of interest rate increases is yet to be felt by many businesses,” said Jo Robinson, a partner at EY-Parthenon. She gave the example of luxury goods, which have generally shown resilience amid periods of economic volatility, which have also seen demand fall through the cracks. It's true—some o
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