Profit warnings from Britain’s listed companies fell dramatically in the second quarter, according to a new report, boosting hopes of strong U.K. growth figures for the second quarter.
Ernst and Young (EY) said 54 U.K.-listed companies warned over earnings in the second quarter – 25 percent fewer than in the first quarter.
The number of companies that issued profit warnings was the lowest since 2010, according to the report, when it was just 51.
Keith McGregor, EY’s head of restructuring for Europe, Middle East and Africa, said the low number of profit warnings was a sign of growing confidence in Britain’s economy.
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