Today’s news in brief – 12/7/2024

Albert Goodman, headquartered in Taunton with offices in Weymouth, Yeovil, Weston-Super-Mare, and Bristol, reported a 17% revenue increase to £21.4m for the year ending 30 April 2024. The firm expanded its audit and financial planning teams by 25% and 22%, respectively. New grade-A office spaces opened in Bristol and Yeovil. The firm also achieved B Corp status, reflecting its commitment to ESG principles. Managing partner Iain McVicar highlighted the firm’s sustainable growth and internal promotions, including 41 new hires and two new partners. McVicar emphasised the firm’s ambitious expansion plans across the southwest and beyond. The Financial Conduct Authority (FCA) introduced a simplified listings regime starting 29 July, streamlining eligibility and removing the need for votes on significant transactions, while maintaining essential investor protections. The new rules align the UK’s regime with international standards, allowing flexibility around enhanced voting rights but requiring shareholder approval for major events like reverse takeovers. Executive director Sarah Pritchard emphasised the importance of thriving capital markets for investment and growth. Chancellor Rachel Reeves highlighted the financial services sector’s central role in the UK economy and the significance of the new rules in attracting innovative companies. Interpath Advisory facilitated a pre-pack sale of South-West based burger chain Hub Box to South West Restaurants Limited. The deal ensures that Hub Box’s 10 restaurants and approximately 300 staff will continue operations. Despite consistent revenue growth, Hub Box faced rising costs in food, energy, interest, and labour, leading to cash flow pressures. Unable to find a solvent solution, the company appointed administrators Steve Absolom and Will Wright. The sale preserves employment and secures the brand’s future. Sam Birchall of Interpath emphasised the importance of the transaction in safeguarding jobs and the business. Candice Beynon, director of DJH’s Altrincham office, will climb Mount Kilimanjaro in September to raise funds for the Alzheimer’s Society. Beynon, with DJH since 1996, has begun training for the self-funded hike, ensuring all donations go directly to the charity. She will join a charity group on 20 September for the six-day climb of Africa’s tallest mountain. Beynon, an avid hiker, aims to fulfil a personal dream while supporting a cause close to her heart, in memory of her Auntie Liz. CEO Scott Heath praised Beynon’s effort, highlighting the firm’s commitment to community and charitable support.