Analysts reacted with disbelief to the move this week. ‘It manifests itself
as a complete lack of guidance and a huge lack of credibility for the management
and the “no-show” FD,’ said Andrew Wade from
Seymour Pierce’s vice chairman, Richard Ratner, said: ‘House brokers should
not be responsible for communicating day to day with the investors. It’s wrong
that the FD is effectively kept in cotton wool and never shown to the City. Mike
Ashley and David Forsey are good executives, but there are a number of analyst
issues that need an FD’s insight.’
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.