FinnCap and Numis cheer profit boost as equity activity rises May 7, 2014 CITY brokers Numis and FinnCap yesterday said London’s buoyant equity markets helped drive stellar profit increases at both companies, underscoring a turnaround in fortunes for the capital’s broking community. Numis, which worked on floats including AO World, McColl’s and Arrow Global this year, said revenues rose 59 per cent to £51.5m and statutory pre-tax profits [...]
Shoe Zone putting its best foot forward with a £50m stock float April 28, 2014 DISCOUNT footwear chain Shoe Zone has become the latest retailer queuing up to float on the London Stock Exchange this year. The family-run chain, which runs 554 stores in the UK and Ireland, is looking to raise up to £50m in an initial public offering (IPO) on London’s Alternative Investment Market next month that is [...]
Card Factory to deliver £700m float in London April 22, 2014 CARD Factory boss Richard Hayes said yesterday that it hopes to emulate the success of other value retailers such as Poundland after announcing plans for float that could value the group at around £700m. The budget greetings chain, which has 700 stores, intends to raise £90m through an initial public offering that will allow its [...]
McColl’s sales rise following IPO April 8, 2014 McColl’s posted strong sales yesterday and said it is pushing ahead with new store openings as it published its first update since listing on the London Stock Exchange last month. The retailer, which owns 1,279 newsagents and convenience stores, said total sales rose three per cent in the 19 weeks to 6 April while stores [...]
Stock market’s recovery gives a boost to brokers March 26, 2014 TWO LONDON stockbroking firms yesterday said the resurging equity markets have helped boost their businesses in the past year. Cenkos Securities said its work on more fundraising deals lifted annual revenues 19 per cent to £51.4m, while pre-tax profits rose 53 per cent to £10.7m. “We have made a very encouraging start to the new [...]
Inside Track: London’s 2014 flotations get off to a promising start February 27, 2014 THERE have been weeks of anticipation. Now it’s time for early evaluation as the first London new issues of 2014 start trading. Which way the newly issued shares trade can set the mood for the rest of the year – or at least provide an indication of the appetite of the institutions for newly-listed stocks. [...]
McColl’s valued at £200m ahead of market debut February 25, 2014 SHARES in McColl’s fell on its first day of conditional trading yesterday as investors gave the convenience store group a subdued reception ahead its full market debut next week. The retailer, which owns 1,276 newsagents and convenience stores, set its share listing offer price at 191p per share yesterday, valuing the company at £200m. However, [...]
Greencore sales lifted by boom in convenience January 28, 2014 BRITAIN’S fast-growing convenience market helped boost sales at sandwiches to Yorkshire puddings-maker Greencore. The group’s convenience arm, which makes products such as salads for retailers including Marks & Spencer, posted a 9.1 per cent jump in like-for-like sales for the 13 weeks to 27 December. This helped boost overall sales by 7.2 per cent on [...]
McColl’s kicks off retail IPOs with plan for £50m stock market float January 27, 2014 CONVENIENCE store group McColl’s is set to jump the queue of retailers preparing to join the stock market after confirming plans yesterday to float next month. The retailer, which owns 1,276 newsagents and convenience stores, wants to raise £50m in a main market listing that is expected to value the group at around £225m. McColl’s [...]