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RSM UK has advised Yorkshire-based Kenward Orthopaedic on its sale to Ability Matters Group. Established in 1993, Kenward Orthopaedic is a renowned orthopaedic footwear company in Leeds, with particular focus on manufacturing products for NHS patients. The company also has expertise in designing and manufacturing stock, modular and bespoke footwear, and has invested significantly in the latest technology and production methods.
Nearly two thirds (63%) of businesses expect economy to improve over next six months according to RSM UK’s latest Middle Market Business Index (MMBI)
Commenting on the latest CIPS UK Manufacturing Purchasing Managers’ Index which has continued the downward trend, falling to 47.1 in May, Mike Thornton, national head of manufacturing at RSM UK, said: ‘The latest manufacturing PMI for May has seen another decrease, driven by the significant fall in the backlog of work index, which has dropped sharply to 38.2.
According to the latest figures, the number of UK residential property transactions in April 2023 is 82,120 (provisionally seasonally adjusted estimate) – a fall of 25% year-on-year and 8% lower than March 2023.
UK car manufacturers see surge in April exports, but lack of industrial strategy is long-term concern
UK car production continued to show signs of improvement at the start of Q2 2023, as output increased 9.9% in April (66, 527 units), marking the third month of consecutive growth according to the latest figures published today by the Society of Motor Manufacturers and Traders.
The latest ONS figures show retail sales volumes have risen by 0.5% in April 2023. This was driven by an increase of 2.1% in other non-food stores which includes luxury goods such as watches and jewellery. Department store sales volumes also increased by 1.7% and food sales were up 0.7%.
According to today’s House Price Index by the Office of National Statistics, UK average house prices have fallen for four months in a row and are now £8,000 below their peak in November 2022. The average UK house price in March 2023 is now £285,000.
Leading audit, tax and consulting firm RSM UK has appointed Gemma Legg as a partner within its corporate finance team in Reading.
The future of a historic building in South Shields has been secured as administrators of Hotel 52 (Sea) Limited sold the business and its assets out of administration.
RSM UK has advised Five Wealth Limited on successfully securing private equity funding from Foresight Group, with the investment supporting the company’s succession planning strategy and accelerating future growth plans.