BUSINESSES in the UK have begun sounding the alarm over coronavirus as the outbreak impacts operations in China and major supply chains.
Days after Apple warned it will not meet its second-quarter financial guidance because of the epidemic, UK firms including the likes of IT giant Aveva and recruiter Hays have cautioned over the impact on the Chinese market.
Aveva, which is one of the UK’s biggest tech groups and makes 5% of its revenues in China, said Chinese sales had been knocked by coronavirus disruption. Shares in the FTSE 100-listed firm dropped 4% after its update.
READ MORE: Coronavirus: Why apocalyptic responses won't stop disease
Kitchen and bathroom supplier Norcros saw its stock plummet 13% after it issued a profit warning as the spread of the disease has affected Chinese-based suppliers. The group said this is “likely to have some impact on the seasonally important remainder of this financial year and early next year”.
Recruiter Hays said it was too early to give details on any financial impact, but said it was “materially impacting” activity in the Chinese jobs market. This is set to continue until at least the end of March, the firm warned.
Chief executive Alistair Cox said that recruitment in China had been “very subdued” as offices were shut until February 10 on the advice of the Chinese government.
“Everyone has been concerned about their own health and safety and that of their families – it has to be everyone’s priority,” he said.
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here