Profit Warnings Q2 2022: FTSE Finance and Credit Services

18 Jul 2022
By Simon Edel

EY-Parthenon Partner, Strategy and Transactions, Restructuring, Ernst & Young LLP

An experienced Restructuring professional with 21 years’ experience leading complex and cross border financial restructuring and insolvency situations. Thrives on a challenge. Loves the outdoors.

Contributors
18 Jul 2022
Related topics Strategy and Transactions

FTSE Finance and Credit Services companies issued seven profit warnings in the first half of 2022.

Apart from the pandemic-affected year of 2020, this is the sector’s highest first-half total of profit warnings since 2009, just after the global financial crisis. Major profit warnings and restructurings in the sector have been concentrated in consumer finance, whilst the Financial Conduct Authority’s focus on fair outcomes continues to reshape the industry.

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Summary

Every quarter, we provide the latest sector insights from our Profit Warnings analysis, delving deep into two specific sectors, and the challenges facing companies and stakeholders alike. This quarter we look at Retail and Finance and Credit services sectors, analysing the headwinds facing both.

About this article

By Simon Edel

EY-Parthenon Partner, Strategy and Transactions, Restructuring, Ernst & Young LLP

An experienced Restructuring professional with 21 years’ experience leading complex and cross border financial restructuring and insolvency situations. Thrives on a challenge. Loves the outdoors.

Contributors
Related topics Strategy and Transactions