Foreign firms say UK profits hit by Brexit vote, weak sterling

Foreign firms say UK profits hit by Brexit vote, weak sterling
 

The drop in sterling and some weakening in demand following the vote to leave the European Union have eaten into the earnings of foreign firms operating in Britain, companies have been saying as they reveal their third quarter results this month.
Firms including carmaker Ford, technology group HP Inc, Ryanair and Delta Air Lines Inc, said Britain’s vote to leave the EU, or Brexit, was forcing them to reassess profit targets, plan additional cost cuts, increase prices in Britain and curtail operations.
Large listed firms are beginning to report profits for the July to September period -- the... read more

 
18 October 2016 in Business, Views: 40
Source: Reuters
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