Derisory offer | Property star | Wine woes
The summer is generally a quiet time for dealmaking but the takeovers continue for modestly valued UK small caps, with a company in the construction materials sector the latest to attract the attention of an overseas buyer. Elsewhere, another high quality AIM company supporting the property sector looks well-placed to benefit from the cut in interest rates but it’s hard going in the world of wine retail. Read on here for our usual forthright opinions on this and other news.
Property Franchise: well-placed to thrive The Property Franchise Group (AIM:TPFG), the UK's largest multi-brand property franchisor, provided its customary reassurance in its latest trading update. The shares have performed well since the merger with AIM peer Belvoir, but there could be plenty me to go for as interest rates start to come down. For the six months to the end of June Group revenue increased 50% to £40.3m. While the majority of the increase was down to acquisitions, it was still 8% higher on a like for like basis. Revenue from Lettings Management Service Fees (‘MSF’) grew 24% to £10.4m…