Profit warnings 'lowest in six years'

COMPANY profit warnings dropped 37 per cent in 2009 to the lowest level in six years, but corporates face a "bumpy" recovery, a report yesterday warned.

By The Newsroom

Published 24th Jan 2010, 20:45 BST

Updated 24th Jan 2010, 21:05 BST

Accountancy giant Ernst & Young (E&Y) said that company alerts eased markedly last year after an above-average number in the first quarter, with 282 profit warnings issued in 2009.

There were 50 profit warnings from quoted UK companies in last quarter of the year after 126 the previous year. E&Y said 2010 got off to a "benign start" with half the number of alerts across all sectors in the first two weeks.