DAILY BRIEFING: Former British Army captain set to make millions after video games firm floats


DAILY BRIEFING: Former British Army captain set to make millions after video games retailer he founded floats

City & Finance Reporter for the Daily Mail

Windfall: Green Man Gaming founder Paul Sulyok

Windfall: Green Man Gaming founder Paul Sulyok

Windfall: Green Man Gaming founder Paul Sulyok

ARMY DREAMER Former British Army captain Paul Sulyok is set to make millions of pounds when Green Man Gaming, the video games retailer he founded eight years ago, goes public in a £100million float.

The 51-year-old chief executive and his wife own about 20 per cent of shares in the company, which allows customers to buy digital copies of games.

SECTOR SUFFERS The construction sector suffered a ‘loss of momentum’ last month as Brexit uncertainty continues. Research group IHS Markit’s index of activity, where 50 is the cut off between growth and decline, fell from 55.8 in July to 52.9 in August.

SITE HOPE Flares maker Chemring is working with regulators to reopen the pyrotechnic facility in Salisbury where a worker died in an explosion last month.

ROLE OVER Alan McIntosh, 50, co-founder of Irish housebuilder Cairn Homes, is stepping down as an executive director and will move to a non-executive director role.

SUN SALES Solar power investor Foresight Solar Fund wants to buy ten solar assets in the UK for £30.1million.

SMOKED OUT Convenience store chain McColl’s continued to bear the brunt of the collapse last year of the UK’s largest cigarette wholesaler Palmer & Harvey as sales dropped 0.9 per cent in the 13 weeks to August 26.

FLIGHTS WOE Budget carrier Ryanair cancelled 100,000 customers’ flights last month, blaming pilot strikes and the continuous shortage of air traffic control staff.

GAME FIGURES Video game developer Codemasters has posted sales of £35.5million in the five months to August 31 boosted by arcade racing game Onrush and the latest instalment in its F1 games franchise.

GARDENS GO Private equity house Terra Firma has sold four more Wyevale Garden Centre sites to individual buyers.

ORDER BOOST Structural steel specialist Severfield says it has a record £128million order book for its Indian business.

 

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