Profits warnings increase

THE number of profit warnings issued by the North West’s publicly-quoted companies grew by 40% in the second quarter of 2012, according to Ernst & Young.

The firm’s latest Profit Warnings report showed that seven warnings were issued by North West firms during the quarter – up from five in the first three months of the year.

Restructuring partner Tom Jack said: “Those most affected continue to struggle in the face of falling demand, tightening finance and swift technological changes.”

Two of the region’s firms which published warnings were in the construction industry.

Mr Jack said: “The Construction & Materials sector is experiencing its toughest period since the financial crisis. Improving order levels and infrastructure opportunities offer hope, but, the benefit of rising new order levels won’t be felt until 2013.”