financial officers (CFOs), at 58%, among some of UK’s major companies now
believe the credit crisis will adversely affect their businesses in 2008 – a
significant deterioration on September, when 42% of CFOs expected a negative
But the CFO survey also suggests most major corporates are well placed to
meet scarcer and more expensive bank credit head on – they have internal and
external financial resources available to draw on in a prolonged credit squeeze.
In all, 52% of CFOs said they were optimistic about their ability to find
alternatives to bank borrowing, such as capital markets debt and public and
private equity. In addition, a vast majority, at 95%, said they had additional
financial resources such as undrawn facilities, cash and saleable assets, which
could be used to fund the business over the next 12 months, should the need
Moreover, two-thirds of CFOs said they did not need to undertake any
significant refinancing of debt or bank credit for more than a year and some had
no near-term refinancing needs in the next two years.
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.