UK profit warnings rose substantially year-on-year to hit 58 in Q2 2018, 13 (29 percent) more warnings than the same period in 2017, finds this report by EY
Key points include:
The year-on-year rise in profit warnings stems mostly from consumer sectors and increasing contract disruption, which is cited in 29% of warnings in Q2 2018 — a six year high
The FTSE sectors with the highest number of warnings in Q2 2018 were: General Retailers (7), Software & Computer Services (6), and Travel & Leisure (5).
Almost a quarter of FTSE General Retailers warned in the first half of 2018. The sector issued 20 warnings in in H1 2018, doubling the figure set in H1 2017.