European Companies May Say Profit Growth Slowed on Energy Costs

Europe’s largest companies may say profit growth slowed in the second quarter as record energy prices boosted costs and customers cut back spending.

“Earnings should come in much slower,” said Dirk Thiels, who oversees about $13 billion as head of equity funds at KBC Asset Management in Brussels. “The record oil prices will affect earnings at carmakers, chemicals companies and others that are seeing their input costs rising.”
Bloomberg