NEW research shows that there has been a dramatic increase in the number of profit warnings issued by North-west quoted companies in the first quarter of the year.
There were 21 compared with seven in the previous quarter. Twelve months ago there was only one warning.
Slowing world growth is said to be the biggest culprit, says the latest Analysis of Profit Warnings from business advisers Ernst & Young.
Mr Trevor Birch, Head of Corporate Restructuring for Ernst & Young in the North, said: "Most pundits believe that the UK will weather the US storm, but world trade growth is slowing, so more profit warnings look set to occur in the the following two quarters.
"Depending on the progression of foot and mouth, we believe that warnings could peak at around 150 next quarter with a levelling out the next and a modest decline into the first quarter of 2002."
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