Podcast 28 Nov 2022
33: Kirsten Tompkins - Q3 Profit Warnings
UK-listed companies have issued the highest third-quarter total of profit warnings since 2008.
57% of those profit warnings came from companies citing rising costs as a key issue as they struggle to pass on costs to consumers, with over half of all warnings coming from consumer-facing sectors.
'On the Spot' once again is Kirsten Tompkins. Kirsten is a Market Analyst and Content Creator in Turnaround and Restructuring at EY-Parthenon, the strategy consulting arm of EY.
As the coordinating editor and data analyst for EY-Parthenon’s Quarterly Analysis of UK Profit Warnings, Kirsten joins us to discuss the Q3 report, 'Predictably unpredictable'. Kirsten returns to the podcast after discussing the Q2 report with us in late July.
So far this year, profit warnings have been driven by increasing costs, supply chain and labour market issues, a weakening in consumer confidence over the summer and, more recently, the fall in sterling. With so many uncertainties in the outlook for 2023, management teams should focus on developing resilience to avoid further warnings and more profound consequences…