By last week, 12 listed firms had issued profit warnings in a quick succession that should worry the government whose brief it is to nurture enterprises to grow.
It is noteworthy that the firms declaring a drop in profit are citing the cost of doing business as one of the major hurdles giving them sleepless nights. A firm’s profit dropping by at least 25 percent in a year should worry the management, the board, and staff that face the axe in retrenchment plans.
