In Q2 2025, UK-listed companies issued 59 profit warnings, a 20% increase compared to 49 in Q2 2024. The primary reason for these warnings was policy change and geopolitical uncertainty, cited in 46% of cases, up from 4% the previous year. Additionally, 40% of warnings related to contract cancellations or delays, while 34% were associated with tariff-related issues. Over the past year, 19% of UK-listed firms issued at least one profit warning, indicating persistent market challenges.
The latest profit warnings data reflects the scale of persistent uncertainty and how heavy it continues to weigh on UK businesses. While this uncertainty has been a recurring theme since mid-2024, it has intensified so far this year - driven largely by geopolitical tensions and policy shifts - compounding pressure on both earnings and forecasts.
While the announcement of global tariffs has clearly played a part in amplifying uncertainty, they are just one factor among broader geopolitical and policy upheaval. These pressures are often interlinked and, combined, they are having a significant effect on companies' confidence, decision-making and spending.
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