Companies in the United Kingdom have issued profit warnings that are at levels not seen since the post Lehman Brothers collapse.
According to information obtained by the Telegraph from accounting firm Ernst & Young, warnings from UK listed companies reached 287 at the end of the 2012 reporting period which was a rise of 26%. This represents the most in one year since 2008, the year that the global economy came to a standstill after the collapse of Lehman Brothers in September of that year.
Concerns cited by Ernst & Young include continuing risks across the entire Eurozone and the United States with concern cited for slowing growth in China. The British economy showed zero growth for 2012 and it marked Britain’s worst economic performance since 1830.
The full story from the Telegraph can be read HERE.