‘Buoyant’ fourth quarter sees North West plc value grow by £2.6bn

Listed companies based in the North West added £2.6bn to their collective market capitalisation at the end of last year, according to new data.

The latest North West Share Index from professional services firm Deloitte has revealed that the total value of listed businesses in the region hit £32.8bn in Q4, an 8.82% increase over Q3.

On average, each company surveyed added £37m to its market capitalisation over the three-month period.

Crewe-based independent drinks firm Conviviality reported growth of 177% in the closing quarter, almost tripling in size to hit a market capitalisation of £346m following its acquisition of wholesaler Matthew Clark.

Elsewhere, the Deloitte research found that investment firm Assura, which develops primary care properties, saw Q4 growth of 75.22%.

Several North West-based listed firms rounded off 2015 with growth between 20% and 50%, including online fashion retailer Boohoo.com, energy advice service Inspired Energy and integrated business systems firm K3 Business Technology.

The fourth quarter also saw the North West business community increase its representation on the FTSE350, with two new additions to the index bringing the region’s total to 13 firms with a combined value of £24bn.

Deloitte’s partner in charge of North West plc activity, Chris Robertson, said: “Globally, while 2015 has seen turmoil in the public markets, North West listed companies have continued to witness extremely strong results, and generate interest from investors both at home and abroad.

“The last quarter of the year has been particularly buoyant, with a number of the region’s businesses bolstered by acquisitions.”

He continued: “However, with the recent uncertainty surrounding oil prices, and the slowdown in China having a dramatic impact on the FTSE100, it will be interesting to see how resilient the North West’s plcs are during the first quarter of 2016.”