Coronavirus could knock £170bn off UK corporate profits

UK plc could see a year's worth of profits wiped out in the space of 18 months as companies continue to warn over a lack of economic activity stemming from lockdowns in various countries around the world as governments attempt to slow the spread of Covid-19. In its latest Profit Watch report, Link Group said it has pencilled in a 75% decline in UK company profits by autumn 2020, before a bounce-back occurs into 2021. The combination of the two will slash corporate profits by £170bn, it said. Coronavirus contagion: Which FTSE 100 stocks have suffered most? The figure was arrived at ...