Profit warnings from UK-listed firms at highest level in two years as Iran war drives up costs

The EY-Parthenon analysis shows that housebuilders have already issued more profit warnings this year than during the 2008 financial crisis. Photograph: Gareth Fuller/PA

The number of profit warnings from UK-listed companies has risen to the highest level in two years, as the war in the Middle East triggers a surge in costs for businesses before the budget.

With less than a fortnight before John Healey’s tax and spending statement to the Commons, the consultants EY-Parthenon said companies quoted on the London stock market had issued 65 warnings in the three months to the end of September.