Profit warnings record sharp rise in Q3 across the North East region, study reveals

Profit warnings have risen by no less than 75% in Q3, 2013, across the North East region, a news report in the local business media has revealed.

A new study by EY has found that seven warnings were made in the region between July and September 2013, making it the highest number recorded in a third quarter in the past five years.

In comparison to Yorkshire and the North East, the number of warnings issued by UK listed businesses rose by just 3 per cent in the third quarter to 56, up from 54 in Q2 2013.

Mark Hatton, North East senior partner at EY, said: "Overall the economic outlook is still improving and perhaps there is a sense that we’re moving onto the next stage of the recovery, where growth may come at the expense of profits.

"In the last few years, companies used a mixture of cost cutting and operational improvements to boost earnings, but now we’re seeing a combination of deep operational restructuring – including strategic divestments – coupled with economic growth.

"However, any false assumptions as to the path of that growth will quickly reflect in forecasts."

While this is clearly not particularly good news, it’s not all bad, either, and it should get companies to start considering investing in various solutions that will enable them to optimize their workforce, such as the ones supplied by Time & Attendance North East.

Companies who wish to extend their market presence and are willing to turn to an investment fund in order to do so should also consider the implementation of a very solid and reliable workforce management system, and that’s specifically where Time & Attendance North East might be able to lend a helping hand.

Our systems are user-friendly, innovative and designed for the working environment. They also offer a wide array of features, such as support for contactless smart cards (which would really come in handy in a busy, dusty construction environment), as well as optional finger print biometrics and mobile phone SIM card support.

Moreover, the multi-user, networked, multi site Time and Attendance, Access Control, Fire Roll Call and security system includes European Working Time Directive checking and reporting and allows administrators to save up to 2000 employees, supports extensive shift management and payroll-related operations, the allocation of various pay bands, and much more.

If you’d like to find out more about the extensive workforce management solutions provided by Time & Attendance North East, just contact us, we’d be more than happy to answer every query you might have.