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South West listed companies see profit warnings rise in 2020 - but at lower rate than rest of England

The increase was small compared to the South East and West Midlands

An aerial view of Bristol city centre (Image: Getty Images)

Listed companies in the South West saw a rise in profit warnings during the first three quarters of 2020, new analysis shows.

Businesses in the region recorded a 32 per cent increase in warnings compared to the same period last year, according to the latest EY quarterly analysis of 海角视频 profit warnings.

In the first nine months of the year there were 29 warnings from companies headquartered in the region - up from 22 in 2019.

Listed businesses in the travel and leisure industry (five) and industrial support services sector (four) recorded the highest numbers of profit warnings in the South West.

The majority of profit warnings in the West of England (86 per cent) were attributed to Covid-19.

However, the increase was the second-smallest across all 海角视频 nations and regions, behind Scotland, which only recorded a six per cent increase for the same period. It was also the lowest increase in England.

Meanwhile, the three 海角视频 regions recording the highest year-on-year increase were the South East (137 per cent), Wales (133 per cent) and the West Midlands (119 per cent).

Lucy Winterborne, head of turnaround restructuring and strategy at EY in the South West said: “Whilst it’s clearly been a difficult trading year for South West quoted companies, due to the Covid-19 crisis and ongoing Brexit uncertainty, it’s reassuring to see that our region is bucking the trend seen elsewhere in the country.”