Key facts
- 65 profit warnings issued by UK-listed companies in the three months to September.
- Rising costs and geopolitical uncertainty were the most cited factors for profit warnings.
- Housebuilders have issued more warnings this year than in 2008.
- Average asking house prices fell 0.1% over the past 12 months.
- Average two-year fixed mortgage rates increased to 5.55%.
The number of profit warnings issued by UK-listed companies has reached a two-year high, driven by rising costs associated with the Middle East conflict and geopolitical uncertainty. EY-Parthenon reported 65 warnings in the three months to September, with businesses citing soaring fuel and energy bills as major factors. Housebuilders have issued more warnings this year than during the 2008 financial crisis. Chancellor John Healey is expected to announce measures in his upcoming budget to support businesses, including potential cuts to business rates for small companies. Meanwhile, rising mortgage rates are impacting affordability, with average two-year fixed rates now at 5.55%.