Network International valued at £2.2bn in London’s largest listing of 2019 April 10, 2019 Dubai-based payments company Network International listed on the London Stock Exchange today with a valuation of £2.2bn, the largest float of the year so far. It priced its shares at 435p per share, giving its a market capitalisation of £2,175m at the time of admission. Read more: String of banks appointed as Travelex-owner Finablr weighs [...]
UK retail sales decline knocks sterling lower January 17, 2020 UK retail sales fell in the “golden quarter” of Christmas trading, the latest statistics showed today in a further sign of the challenges facing the British high street. In the three months to December 2019, the amount spent and the quantity bought in the retail industry fell 0.9 per cent and one per cent respectively, [...]
Keystone Law beats market expectations in first full-year results since listing May 8, 2019 Keystone Law today posted a 35 per cent increase in revenue in its first full-year results since it became the third English law firm to float in November 2017. The firm beat market expectations with revenue of £42.7m and adjusted profit before tax of £5.1m. Keystone, which launched in 2002, operates a platform model, recruiting [...]
House prices 2020: How will the UK property market fare next year? December 26, 2019 It’s been a rocky year for the property market, as protracted political uncertainty and affordability problems left house prices largely stagnant in London and across the UK. But with a resounding victory for Boris Johnson in the General Election earlier this month, and the prospect of an end to the Brexit saga in sight, 2020 [...]
String of banks appointed as Travelex-owner Finablr weighs London float April 9, 2019 Payments company Finablr said today it was examining a London initial public offering (IPO) and had engaged a raft of top banks to act as underwriters and advisers. The United Arab Emirates-based company, which processed $114.5bn (£87.6bn) of payments in 2018, published a registration documents today and said it was weighing a $200m IPO. Read [...]
Confusion reigns as Sports Direct delays annual results again July 26, 2019 Sports Direct’s share price fell this morning as it delayed the release of its annual results ahead of today’s annual general meeting with shareholders. Billionaire Mike Ashley was due to release results for his company at 7am ahead of the London Stock Exchange’s open at 8am. Read more: Sports Direct shares plunge as it delays [...]
Three lessons law firms can learn from rivals’ collapses amid coronavirus April 30, 2020 Law firm collapses are a lot like bank runs. Confidence in the institution crumbles, causing partners to rush for the exits – taking their capital and clients with them. Partner departures reduce the firm’s revenue, profit and capital, leading to further partner exits in a destructive feedback loop. Once firms enter this death spiral it [...]
First listed law firm Gateley delivers strong results as it looks for further acquisitions January 8, 2019 Listed law firm Gateley has boosted revenue 20 per cent and profit 18 per cent in the six months to 31 October. The Birmingham-headquartered firm, which became the first UK law firm to go public when it floated in 2015, delivered revenue of £46.4m and profit before tax of £5m for the period. Gateley's share price [...]
New car market misfires as confusion over government policy and incentives dents demand June 5, 2019 Rule changes to government policy and automotive grants caused hybrid and diesel car sales to plummet in May. Overall new car sales fell 4.6 per cent year-on-year to just 183,724 units. The figures come from the Society of Motor Manufacturers and Traders (SMMT). Read more: Car sales fall as removal of subsidies takes its toll [...]
City Moves for 18 April 2019 – Who’s switching jobs at VGC Partners, TFoil and Lilium? April 18, 2019 Today's City Moves includes VGC Partners, TFoil and Lilium. VGC Partners London-based growth capital investor VGC Partners has appointed Andrew Lister as investment and portfolio director as the firm looks to invest from its £50m Fund II in high-growth consumer, media and technology businesses. Andrew joins from Marlin Equity Partners, where he spent over three years [...]