10 news Judging underway
Judges were meeting to decide the finalists for the Thames Valley Deals Awards, as we closed for press.
With more than 420 nominations in, and more expected before the final cut- off, judges were sifting through the entries to find the deals and dealmakers who stood out from the crowd.
Recent research showed that this region is the most valuable in the UK for business deals.
According to Experian Corpfin’s latest report, £105,445 million worth of deals took place in the region in 2013, the highest value in the UK by far. The closest competitor was greater London, where £79,078m worth of deals was done.
In the region, the biggest deals involved Newbury- headquartered Vodafone, including Verizon’s £84 billion acquisition of the Vodafone subsidiary, Cellco.
In terms of deal volume, Grant Thornton and BDO lead the way in the adviser league tables for the South East, with Shoosmiths being the most active law firm.
Interestingly, 2013 saw the lowest overall value for M&A activity in the UK since 2001. Advisers say that the volume of UK takeovers went off a cliff last year and blamed the fall on difficulties with funding.
The market ended stronger
at the tail end of 2013, and indications are that 2014 has started well, according to observers.
A survey by PwC shows that M&A activity will increase in first six months of 2014. The firm said: “Our view is that, going forward, growing market confidence, improving macroeconomic fundamentals and a benign deals funding environment will continue to drive small and mid-market deals.
“Many larger transformational deals, however are likely to only return in numbers as market confidence and the UK economy improve further.”
The Thames Valley Deals Awards is at the Royal Berkshire Conference Centre, Madejski Stadium, Reading on April 24.
Last-minute tickets are available from events manager Linda Morse by emailing
linda@elcot.co.uk
Manufacturers benefit as recovery gets underway, finds EEF/BDO survey
South East manufacturers anticipate a significant increase in order levels and plan to hire more staff as a result in the coming months, according to the latest quarterly ‘Manufacturing Outlook’ survey published today by EEF, the manufacturers’ organisation, and business advisers and accountancy firm BDO LLP in the South East.
While output remained flat in the first quarter of the year, a balance of 48% of local manufacturers anticipate a rise in orders in the next three months; reaching levels last enjoyed at the end of 2010. This is good news for South East companies and workers as a balance of 18% of regional manufacturers intend to recruit more employees over the next quarter; the highest level for two years.
Looking forward, local
www.businessmag.co.uk
manufacturing output is due to increase over the next three months, with a balance of 57% companies predicting growth. The data reveals a positive outlook as local business confidence is bolstered.
The findings suggest that the South East is on track to mirror the UK as a whole, where the recovery is well underway and key indicators, such as output, orders, employment and investment intentions are approaching or have already hit record highs.
In the report, EEF says that translating firms’ intentions to invest and hire more staff into action will be the ultimate test for long-term economic recovery. It called on the chancellor to gear his March budget to secure the best possible business conditions to support growth.
Jim Davison, EEF South East region director, said: “Looking ahead to the next quarter, this is the most positive set of indicators we have seen for some time. Here in the South East it looks like we’ve turned a corner and are actively heading down the right road. Manufacturers are clearly feeling more confident as their order books fill up and exports are strong.
It is now vital that
the Government does all that it can to underpin support for companies, giving manufacturers the confidence to fulfil their investment and recruitment plans.”
Kevin Cook, partner at BDO LLP in the South East, said: “As local manufacturers forecast a significantly high level of demand and bolstered hiring intentions, we expect to see the region continue to
strengthen as the overall UK recovery takes hold.
“The broad nature of the recovery that this survey points to is a source for particular encouragement as it has been some time since all sectors have been moving in the right direction. The fact that this is underpinned by a significant strengthening of exports, especially to Europe, adds further stability to the foundations of growth. This should also give confidence to the Government that its support for the sector is starting to achieve the desired results and if implemented in a clear and carefully targeted fashion will continue to reap benefits.”
EEF’s forecast for manufacturing growth in 2014 remains unchanged at 2.7%. However, EEF has increased its forecast for GDP growth to 2.6%.
Details:
www.bdo.uk.com/news.html twitter.com/BDOaccountant
THE BUSINESS MAGAZINE – THAMES VALLEY – APRIL 2014
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