owever, a further 432 companies were found to have increased their value, suggesting the recovery is gaining momentum. David Pattison, author of the report, said: "It's certainly been a tough few years. Values have fallen markedly from their peak but the number of companies that are worth more this year than last year is encouraging.
"In all, we identified 432 companies that have increased in value - quite an achievement considering current market conditions. Their performance adds to the growing belief that the market has stabilised and companies with their house in order can once again prosper and add value."
As Pattision noted, however, there remain a significant number of companies that are struggling to recover. "365 other companies have lost a third of their value in the latest year," he commented. "They have such a lot of ground to make up and many are in such dire straits it's unlikely they will return to their former glory.
"The post-recession market is so highly competitive I would expect a number of these companies to be bought out on the cheap or decline further and eventually be wound up."