These UK share prices have leapt in value over the past 12 months. And they are rising strongly in Tuesday business too. Here’s why investors are piling in again.
Strong trading
Frenkel Topping Group (LSE: FEN) is enjoying strong gains on Tuesday following the release of fresh trading news. Up 4% on the day, the financial advice firm is now 19% more expensive than it was at this point last June.
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Frenkel has continued to trade robustly in the year to date and chief executive Richard Fraser said the UK financial share has enjoyed “strong organic growth” in the first five months of 2021. Acquisitions have also been performing well, he added, while the business has kept winning assets under management (AUM) mandates in the period.
AUM was up 6% on 30 April from four months earlier, at £1.07bn, due to “net inflows and encouraging levels of new business wins.”
Building its international footprint
The Grafton Group Units (LSE: GFTU) share price has also risen strongly today, taking gains over the past 12 months to an impressive 82%. It’s up by mid-single-digit percentages in Tuesday business.
The builders’ merchant has soared, thanks to the sunny outlook for the British and Irish construction sectors. Fresh acquisition news on Tuesday has helped the UK retail share gain even more ground.
Grafton will pay €199.3m to pick up Scandinavian peer IKH in a deal that’s expected to complete in July. It described IKH as “one of the largest workwear and personal protective equipment (“PPE”), tools, spare parts and accessories technical wholesalers and distributors in Finland.”
Grafton chief executive Gavin Slark also that the move “[will] strengthen the group’s operations in the mainland European market in line with our international development strategy.”
Another busy UK share making M&A moves
National Express Group’s (LSE: NEX) share price is also rising on Tuesday following an acquisition announcement of its own. Up 2% on the day, the coach and bus operator has now risen 20% in value over the last 12 months.
The UK transport share has been heading southwards in recent weeks on government plans to delay lifting Covid-19 restrictions. But news today that it’s to acquire Transportes Rober in Spain for €13m has helped lift investor mood. National Express already operates in the country through its ALSA division.
National Express said the takeover “represents a further step in consolidating the regional and urban bus markets, a strategy which ALSA has successfully executed in Galicia, the Basque Region and Leon among others.” Transportes Rober has operated the urban bus contract in Granada for more than 20 years.
National Express also announced today that its trading performance across the group continues to improve and is slightly ahead of management expectations. It added: “We have continued to win new contracts… notably in corporate shuttle both in North America and the UK.”
