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Realistbear

Profit Warnings From Uk Companies Highest Since Dotcom Crash

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http://www.fxstreet.com/news/forex-news/ar...b7-ca4743888ee2

Profit warnings from UK-listed companies at highest since dotcom crash - survey
Sun, Jul 15 2007, 00:15 GMT

http://www.afxnews.com' rel="external nofollow">
LONDON (Thomson Financial) - The number of profit warnings from UK-listed companies for the first half of the year has reached the highest level since the end of the dotcom boom six years ago, research showed.
Consultancy Ernst & Young said there were 191 profit warnings in H1 2007, up 13 pct from a year earlier, whereas in the second quarter these warnings were up 5 pct from the same period in 2006. Weaker sales were blamed by most of these companies, while a minority cited difficult trading conditions or delayed and discontinued contracts.
"We are a long way from the economic climate of the start of 2001 that saw more than 230 profit warnings in the first half of the year. Nevertheless, the 191 profit warnings issued in the first half of 2007 are a reminder that segments of UK plc are struggling," said Keith McGregor, the corporate restructuring partner at Ernst & Young.
He said that expectations that interest rates will now remain elevated for some time have added weight to many warnings against lax lending habits and complex debt instruments.
"Many experienced market watchers are concerned that a turn in the credit cycle, brought about by these factors, together with potential shocks from the US sub-prime situation, rising interest rates and credit tightening, will result in financial turbulence," said McGregor.
The majority of profit warnings came from companies in software and computer services, support services and general retailing, where warnings doubled compared to a year ago..../

The cycle is catching up with Gordon fast. He has destroyed most of our industry by making it too expensive to do busioness in this country and now he is overseeing the decline in services once the excuse for our crashing manufacturing base.

The miracle has relied on cheap and easy credit. That part of the cycle is past and a new day of reality is here.

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"We are a long way from the economic climate of the start of 2001 that saw more than 230 profit warnings in the first half of the year. Nevertheless, the 191 profit warnings issued in the first half of 2007 are a reminder that segments of UK plc are struggling," said Keith McGregor, the corporate restructuring partner at Ernst & Young.

Doesn't sound like a long way off to me! I bet the figures for the first half of 2000 were similar.

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http://www.fxstreet.com/news/forex-news/ar...b7-ca4743888ee2
Profit warnings from UK-listed companies at highest since dotcom crash - survey
Sun, Jul 15 2007, 00:15 GMT

LONDON (Thomson Financial) - The number of profit warnings from UK-listed companies for the first half of the year has reached the highest level since the end of the dotcom boom six years ago, research showed.
The majority of profit warnings came from companies in software and computer services, support services and general retailing, where warnings doubled compared to a year ago..../

The cycle is catching up with Gordon fast. He has destroyed most of our industry by making it too expensive to do busioness in this country and now he is overseeing the decline in services once the excuse for our crashing manufacturing base.

The miracle has relied on cheap and easy credit. That part of the cycle is past and a new day of reality is here.

but I don't understand RB, Gordon told us we were doing great. Look at the basket case economy of Germany. We've got hair dressing and mortgage broking, a booming insurance industry (well in the last couple of weeks anyway) and sales in wellies up on last year. And what do the Germans have? They just make "stuff" and sell it abroad - what good is that?

Link

Growth was helped by strong exports, while higher domestic investment and a pickup in private consumption also spurred activity, the agency said.

Link

The basic point here is that the continental European economy is doing better and it is even possible that this year Germany may grow as fast as the UK. Remarkably, it may even move to a fiscal surplus this year or next, something that the faster-growing Britain has completely failed to do.

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but I don't understand RB, Gordon told us we were doing great. Look at the basket case economy of Germany. We've got hair dressing and mortgage broking, a booming insurance industry (well in the last couple of weeks anyway) and sales in wellies up on last year. And what do the Germans have? They just make "stuff" and sell it abroad - what good is that?

Link

Link

:lol:

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Guest Bart of Darkness
but I don't understand RB, Gordon told us we were doing great. Look at the basket case economy of Germany. We've got hair dressing and mortgage broking, a booming insurance industry (well in the last couple of weeks anyway) and sales in wellies up on last year. And what do the Germans have? They just make "stuff" and sell it abroad - what good is that?

Don't forget Nail Bars and Tanning Salons. Those Germans, with their dull "making and selling high quality goods", they haven't got a prayer have they?

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not if we can no longer afford to buy them from them they haven't

yeahbutno but...they are much better quality than the tat we get,will last longer and are far superior in spec.

buying 3 cheap chinese imports which break down in place of 1 good german-engineered brand which costs twice as much but lasts 4 times as long??

you do the maths.

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