Alarm bells ringing for UK profits

Alarm bells ringing for UK profits
Alex Mayhew-Smith The number of profit warnings from UK firms was up 35 per cent in the first quarter of 1999, according to business advisors Ernst & Young. Out of the 118 warnings, ten came from electronics and electrical firms and 14 from engineering companies. Only one telecommunications company issued a warning. Ernst & Young said: “Thirteen per cent of the companies in the electronic and electrical equipment sector issued warnings, most being manufacturers of computer hardware or components. Taken with warnings from distributors and suppliers of computer equipment and software, a picture emerges of an industry facing difficulties.” The company predicted that profit warnings will decline in the second quarter but increase in the year’s second half.


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