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Business announcements less negative, says KPMG

The downturn in the UK economy may not be as bad as some analysts fear, according to figures compiled for KPMG by Mandis Information Services which shows fewer profit warnings being issued.

Negative announcements across 21 sectors of the UK economy for the first six months of 2001 fell by 22 per cent compared to the same period during 2000. The announcements recorded include profit warnings, redundancies and significant restructurings.

KPMG corporate recovery partner Mick McLoughlin says: “Management are setting more realistic budgets and are beginning to manage the market&#39s expectations by issuing fewer profit warnings as key performance indicators are met.”

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