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‘Brexometer’ stormy as global executives forecast fall in profits

Law firm Hogan Lovells found that two thirds of respondents in its ‘Brexometer’ survey believe Brexit will reduce their profitability over the next five years.


Kristen McGachey

Regional Managing Partner of Hogan Lovells, UK and Africa, Susan Bright, said of the results: “It is fascinating to take the temperature of global businesses as we enter the next crucial phase of the UK’s ultimate exit from the EU. 

“While the UK government has set out a bold vision for a post-Brexit world, it is clear that many businesses do not yet share such an optimistic view of what the UK and its trading relationships may look like in the future.”

“However, it is certainly not all doom and gloom”, she added. “Our survey also tells a story of self-help; that business confidence is built on planning and pro-active engagement. 

“The good news is that there is still time for businesses to engage with the government and policymakers and to shape Brexit positively for their own benefit and the benefit of their customers.”