Research released by Ernst & Young revealed that UK plc saw no respite in the first quarter of 2008 as profit warnings reached 114; the highest first quarter figure since 2001 and up 11% from Q1 2007.
Profit warnings remained above the 100 mark for the second quarter in a row.
The highest warning sectors were general retailers with 18, equalling their record
The 12 months to the end of March 2007 saw 26% of the sector issuing a warning. By comparison, 42% of FTSE general retailers had issued a warning to the year to date ending March 2008.