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HomeBusinessMoneyBUSINESS LIVE: CMA holds up $8.6bn Avast deal; Fever-Tree sales jump

BUSINESS LIVE: CMA holds up $8.6bn Avast deal; Fever-Tree sales jump

BUSINESS LIVE: CMA puts breaks on $8.6bn Avast deal; Fever-Tree sales jump despite supply chain woes; Volatility fuels IG Group revenues

Britain’s competition regulator has launched an in-depth probe into US cybersecurity firm NortonLifeLock’s $8.6billion purchase of London-listed Avast, amid concerns the deal could harm competition.

The Competition and Markets Authority said on Wednesday the deal could lead to British customers getting a worse deal when looking for cyber security software.

British soft drink maker Fever-Tree saw revenues jump by 23 per cent year-on-year to ÂŁ311.1million in 201, with gross profits rising 12 per cent to ÂŁ130.9million.

The growth was reflected across all markets, according to the group, despite ‘unprecedented global supply chain disruption’, which led to a 20.2 per cent hit to adjusted earnings margin.

Online trading platform IG Group now expects full-year revenue to ‘moderately exceed’ market expectations on strong trading volumes, as the Ukraine crisis fuels market volatility.

The London-listed firm posted third-quarter net trading revenue of ÂŁ257million compared with ÂŁ226.7million a year earlier when a retail frenzy in stock markets had driven up trade.

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Fever-Tree toasts strong growth despite supply chain disruption 

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