Wider worries: Workers walk in the rain across London Bridge, with Tower Bridge seen behind, in London. The number of UK firms issuing profit warnings hit the highest since the end of last year and up 8% since the previous quarter. — Reuters
LONDON: Nearly 20% of UK-listed firms alerting over profits have flagged the impact of weak consumer confidence, reaching the highest level for three years, research shows.
The latest EY-Parthenon report showed that of the 64 profit warnings between July and September, 19% cited falling consumer sentiment, up sharply from 6% a year earlier and the highest since 2022, at the height of the cost-of-living crisis.
