Today’s news in brief – 27/1/2025

Xeinadin has acquired Watford-based Landmark Accountants, marking its 30th acquisition in two years. This move adds 28 staff to Xeinadin’s network of over 135 offices and 2,500 employees across the UK and Ireland. Landmark will continue serving SMEs in Watford, specializing in sectors like real estate, construction, creative industries, and charities. Clive Wilson, Landmark’s director, highlighted shared values with Xeinadin and the opportunities the partnership brings. CEO Derry Crowley emphasized the acquisition’s potential to empower local businesses in Watford’s growing entrepreneurial hub. Xeinadin remains committed to delivering tailored business advice and supporting small businesses in challenging economic conditions.
BDO has appointed Paula Holland, Alan Walsh, and Polina Nikolaev as audit partners, collectively bringing 60 years of experience. Holland, joining from KPMG, will strengthen networks in Manchester, focusing on listed and private businesses in sectors like professional services and manufacturing. Walsh, from PwC, joins the Birmingham office, emphasizing audit quality and development, with expertise in energy and utilities. Nikolaev, also from KPMG, will work in BDO’s London office to expand the US-listed business sector. Anna Draper, head of people, culture, and purpose, stated these appointments underline BDO’s commitment to audit quality and supporting clients through complex challenges.
Southampton-based HWB Chartered Accountants has welcomed 10 new recruits, including seven trainees, qualified staff, and work placement students. This strategic expansion addresses growing business demand and reinforces the firm’s commitment to quality service delivery. The recruits will undergo extensive training in payroll, accounts, and audit, complementing HWB’s expertise across various sectors such as healthcare, education, and property. Managing director Tracy Jenkins emphasized the importance of nurturing young talent to sustain the firm’s bespoke financial solutions for diverse clients, including companies, LLPs, and charities. These appointments aim to bolster HWB’s workforce while maintaining its reputation for excellent customer service.
EY-Parthenon reported that 19% of UK-listed companies issued profit warnings in 2024, the third highest proportion in 25 years. The year saw 274 warnings, driven primarily by contract cancellations, delays, and rising costs. Industrial Support Services and Software sectors reported the most warnings, while retailers and technology firms also faced significant challenges. Discretionary spending pressures affected sectors like household goods and personal goods. Jo Robinson, EY-Parthenon partner, highlighted the impact of geopolitical uncertainty, policy changes, and supply chain disruptions. Despite a slight decline in warnings in early 2025, ongoing economic challenges suggest a rocky road ahead for businesses.