Record Number of UK Firms Warn Rising Costs Could Hurt Profits: Report

A woman wearing a mask crossing a bridge in front of One Canada Square in Canary Wharf, following the outbreak of the CCP virus in London on May 18, 2020. Simon Dawson/Reuters

A record number of UK-listed companies have issued warnings to shareholders that rising costs could hurt their profits, a new report shows.

The number of profit warnings issued in the first quarter of 2022 rose by 44 percent compared to the same period last year, according to the report from accounting firm EY.