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The Colour

Profits On High St Almost As Bad As 2001

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Profit warnings issued by UK-listed firms are at their highest level since the low point of the technology-led stock market crash in 2001.

In the first half of 2007, 191 companies cut earnings forecasts, 13% more than in the same period in 2006, research by Ernst & Young has shown.

A shortfall in sales was the most often quoted reason for warnings, suggesting a downturn in the UK economy.

Software and support services firms issued the most earnings downgrades.

More than 230 profit warnings were issued at the beginning of 2001 at a time when the UK stock market had almost halved in value since its exuberant peak in the final days of the dotcom boom.

Edited by The Colour

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house builders to follow suit. When you think about the high street it's all so bloody obvious, consider M&S, tart up shops, massive ad campaign, buy in clothes manufactured in China/Vietnam, initially lots of folk go back there to buy over priced grub and to pick up the odd sweater/cheap suit for 50 quid when times are good, as soon as disposable income shrinks folk go back to Asda/Tesco etc and spend less and M&S issue very early profits warning.

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