Between April and June 2003, only 39 profit warnings were issued – down from 52 on the previous quarter. The firm says this is due to the disappearance of external shocks rather than an improvement in business environment.
Grant Thornton has led the management buyout of Welton Bibby & Baron, Europe’s largest paper bag manufacturer, from its parent British Polythene Industries for £7.8m. The company employs 220 people and has annual sales of over £20m. Its clients include Marks & Spencer and Tate & Lyle.
Management buyout deals are on the increase according to KPMG’s private equity group. The firm said activity is picking up, with large deals in the pipeline. Partner Charles Milner added: ‘Larger transactions have come through recently including Linpac and Holmes Place, and the possibility of a delisting of Debenhams.’
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.