This report by EY finds that UK listed companies issued their lowest total of first quarter profit warnings in 21 years in Q1 2021, as economic recovery and vaccine hopes combined to help companies meet or beat full-year forecasts dramatically lowered by the pandemic.
Key points include:
UK companies issued 50 profit warnings in Q1 2021, the lowest first quarter since 2000
Since the start of March 2020, 64 UK listed companies issued at least their third profit warning
In the last 12 months, 43 percent of FTSE Aerospace and Defence companies have issued a profit warning
COVID-19 triggered 88 percent of UK profit warnings in Q1 2021