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
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.
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