According to the latest EY-Parthenon Profit Warnings report, the 72 warnings issued is the highest quarterly figure since the start of the pandemic in Q2 of 2020 with nearly half, 43%, of the warnings were due to rising costs which is up from 27% in Q4 2021 and well above the 2011-2021 average of 10%.

Other impacts cited included factors relating to the Ukraine Russia war, with most referencing the impact of sanctions and withdrawal from Russian markets, which accounted for 11%, and supply chain issues which accounted for 22% of the warnings.