Value of North West PLCs reaches record high

Listed businesses operating in the North West have collectively added nearly £2bn to their markets in Q2 2015, according to the latest data from professional services network Deloitte.

The firm’s most recent North West Share Index report shows that the listed companies in the region now have a combined value of £29.1bn, which represents a record high for the North West.

A number of companies reported growth of between 50% and 75% during the three-month period. Manchester-based 4d pharma, which experienced 71% growth in the second quarter, saw its market cap rise from £16m 18 months ago to nearly £600m at the close of Q2 2015. Elsewhere, building materials firm Ensor Holdings achieved 65% growth, while engineering company Renold hit 50%.

The North West’s FTSE 350 companies also enjoyed a strong quarter, with 70% of those listed on the market achieving growth. JD Sports, the high street sports clothing and equipment retailer, saw its value increase by £450m, a rise of 47%. Meanwhile, comparison website MoneySuperMarket experienced an 8% increase in its value, bringing the collective value of FTSE businesses in the North West to £17.3bn.

Chris Robertson, Deloitte’s North Audit Partner, said: “The strong and consistent growth of the region’s listed businesses again provides a strong indication that not only is the market open, the appetite from investors for North West companies is extremely healthy.

“Individual performances over the last three months have been outstanding, with JD Sports’ growth of almost 50% extremely impressive, particularly given the large size of the business. The region has also demonstrated that its innovative businesses can continue to drive growth, with 4d pharma an excellent example.”

He added: “These results should provide companies considering an IPO a boost, and with the region’s listed businesses continuing strong growth, the signs look positive in the coming months.”