Finance

Public companies issued lowest ever number of profit warnings this spring

Published

Public companies issued lowest ever number of profit warnings this spring, according to respected industry tracker

By Daily Mail City & Finance Reporter

Published: | Updated:

Public companies issued the lowest ever number of profit warnings this spring, according to a respected industry tracker. 

Only 32 listed firms said their earnings were set to be worse than forecast in the second quarter, EY-Parthenon research found, indicating businesses are bouncing back from Covid. 

Bouncing back: EY has been tracking profit warnings for 22 years and said this was the smallest number reported in a quarter

Bouncing back: EY has been tracking profit warnings for 22 years and said this was the smallest number reported in a quarter

EY has been tracking profit warnings for 22 years and said this was the smallest number reported in a quarter. 

It is in stark contrast to the first three months of 2020 when they hit a record high of 301. 

The global economy has picked up rapidly since a string of vaccine announcements in November – and in the UK growth has soared since Covid restrictions began to relax in April after a third lockdown. 

But EY-Parthenon’s Alan Hudson said firms could soon be hit with more challenges, as the strong global recovery has also pushed up many raw material prices.

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.

source: dailymail.co.uk