There were more profit warnings from listed companies in the first nine months of 2019 than in any year since 2008, fuelling fears of a new downturn.

Companies listed in Britain issued 235 warnings, according to a report published today by the accountancy firm EY.

The report cites concerns over the economy and delays or cancellations of contracts as the two main causes for companies to miss their forecasts. Brexit was highlighted as the reason for 22% of profit warnings in the three months to September — up from 10% in the first quarter.

High-profile profit warnings in recent months have come from companies including publishing giant Pearson, British Airways owner IAG and cigarette maker Imperial Brands. Online retailer Asos has seen its share plunge