By Chris Bailey of Financial Orbit | Sunday 20 October 2019
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I am not the biggest fans of the large accountancy and consultancy companies but it was quite striking that a new report from EY observed that there 'were more profit warnings from listed companies in the first nine months of 2019 than in any year since 2008'. And you guessed it - as one of the deadwood press notes - 'the report cites concerns over the economy and delays or cancellations of contracts as the two main causes for companies to miss their forecasts. Brexit was highlighted as the reason for 22% of profit warnings in the three months to September — up from 10% in the first quarter'.