For the year to 1 April 2002, the company reported turnover up by 21% to £104m, with pre-tax profits up by 34% to £6.1m. The company benefited from the strategic acquisition of The Wine & Beer Company for £7.25m in October 2001. PwC’s Mark Speller said:
‘Despite the extremely difficult conditions of the past 12 months, many of AIM’s companies have shown great resilience.’
The UK buyout market has surged in value, with the strongest quarterly performance recorded since the second quarter 2001. Figures from the Centre for Management Buy-out Research revealed total deal value from July to September of £5.6bn, almost £2bn higher than the previous quarter; this despite continuing concerns over economic outlook, with private equity investors producing the fifth highest quarter value of the last decade. The research also showed renewed activity at the top end.
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.