Listed companies in the North West increased their total value by £6.4 billion in the final three months of 2019, according to professional services firm Deloitte, the second largest quarterly increase since 2015.
Deloitte’s findings indicate businesses in the North West included in the FTSE100, FTSE250, FTSE Small-Cap indexes and quoted on AIM, which comprise the North West Share Index, showed those 62 listed companies increased in overall value to £57.2 billion.
The overall value of the North West’s publicly listed businesses has more than doubled since 2015, when it was valued at just £27.6 billion.
Listed technology companies in the North West performed particularly well, with the sector seeing a 35% increase in the value of companies, in particular GB Group, specialising in fraud and identity data intelligence, and saw a 44% increase in value over the quarter.
Pets at Home, headquartered in Stockport, saw its market value increase by 34% during Q4 of 2019, while Manchester ecommerce retailer Boohoo saw a 12% increase.
Andy Westbrook, Senior Partner for Deloitte in the North West, said:
The strength of the North West economy is clear with a 13 per cent rise in overall value in comparison to the 0.21 per cent national average, showing the strong performance of businesses throughout all sectors across the region and the importance of the economy outside of London.”
Bod Buckby, Head of UK Primary Markets – North, London Stock Exchange, said:
That the market cap of companies from the North West on our London markets has doubled over the last five years is a positive indicator of the health of businesses in the region and their appetite for access to public capital markets. These businesses continue to play a key role in driving jobs, innovation and growth in the UK economy.”