E&Y said the first year after flotation was particularly bad for profits as expenses associated with the IPO hit companies’ bottom line.
Sales, however, had increased in 82% of the 200 companies surveyed, following their IPO.
David Wilkinson, E&Y IPO leader said: ‘Flotation has not brought the immediate success that many companies would have expected or indeed promised in the over optimistic environment of 2000. Not all the companies that made it onto the market were fully ready either in terms of a robust enough business model or having the critical mass to float.’
The tax HMRC expects is underpaid by large companies through “transfer pricing” has risen by 60%
The chancellor has “missed an opportunity” to restore business confidence and encourage UK investment, said Mazars
Hammond “builds for Brexit” with a £27bn “shock absorber”, but the papers raise concerns about the higher borrowing
The last six years offer “no hope” for the future, said John McDonnell in response to chancellor Philip Hammond's Autumn Statement