The firm's share price has fallen 25% while the wider market has remained flat.Ince Group Share Price Plunges
The listed firm's share price began falling on January 6 and has hit its lowest point on record.
January 13, 2020 at 05:14 AM
2 minute read
The Ince Group's share price has plummeted to its lowest point since the company acquired Ince & Co over a year ago, with 25% wiped off the AIM-listed firm's valuation since the start of the month.
The share price began the year at 115.5p per share but started tanking on January 6, hitting 84p per share last Friday (January 10), before recovering slightly to 86p by Monday 9AM GMT.
The current valuation is its lowest point on record and gives the listed law firm a market capitalisation of just over £31 million, about £20 million less than what it was valued at when listed firm Gordon Dadds acquired Ince & Co on New Year's Eve 2018.
The FTSE AIM All-Share Index and the share price of the U.K.'s biggest listed firm, DWF, have barely changed since January 6.
It comes less than two months after Ince announced its half year results which showed soaring revenues that had more than doubled in the six months to September 30, 2019, hitting £45.3 million. At the time, firm CEO Adrian Biles said he expected the firm's annualised revenue to hit £100 million by March 31, 2020.
Ince declined to comment.
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