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  "documentTitle": "Parthenon Profit Warnings Q3",
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      "text": "The pace of UK profit warnings steadied over the summer, but weakening confidence - now spreading from businesses to consumers - has cast a shadow over the crucial final quarter.",
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      "text": "Buoyant equity markets have sustained a narrative of corporate resilience, but resilience is not immunity. The UK growth outlook is still subdued, and forecasting confidence has been eroded.",
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      "text": "Meanwhile, companies are also still contending with structural changes to their markets and external threats. This paper explores how companies are adapting their supply chains to rising uncertainty and the growing threat of cyber attacks.",
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      "text": "The surge in profit warnings that began last summer appears to have plateaued. UK-listed companies issued 64 profit warnings in Q3 2025 – slightly higher than the 59 issued in Q2, but well below the 84 recorded in the same period last year.",
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      "text": "We're also seeing ripples from earlier geopolitical tensions and policy shifts. Profit warnings citing exchange rate volatility rose to their highest level since 2018. Nearly one in five warnings referenced policy changes.",
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