The number of profit warnings issued by South West companies halved in 2021 while the rest of the UK saw them increase - with the staycation boom in the region’s hospitality sector being cited as a reason.
The latest Profit Warnings report, from global business consultancy EY-Parthenon, revealed that 19 profit warnings were issued by South West listed businesses in 2021.
This is half the number of profit warnings issued in 2020 and Q4 of 2021 also saw a 12% decrease year-on-year in the number of profit warnings issued in the region.