Business in brief: Experian | LG | Carr | Elevate You
CREDIT checking firm Experian yesterday reported a double-digit rise in underlying revenues for the three months to the end of June after strong growth in Latin and North America.
America drives Experian growth
The firm, best known for running consumer credit checks for banks, landlords and retailers, also said it expects mid- to high single-digit organic revenue growth for the full year. Quarterly revenue grew by 14 per cent.
Experian said revenue from its North America business, which makes up nearly half of its overall revenue, rose 10 per cent for the first quarter. Shares dipped 19p to 932p.
LG pays £246m in price–fixing case
SOUTH Korea’s LG Electronics has agreed to pay $380 million (£246m) to resolve a civil lawsuit over price fixing in the liquid crystal display (LCD) market, the largest amount paid among the ten companies who similarly settled the litigation.
A class action alleged a conspiracy from the 1990s to 2006 to fix LCD prices, resulting in higher costs for buyers of TVs, laptops and other electronics. Several companies also pleaded guilty to separate criminal charges and paid fines. According to court filings, AU Optronics will pay $170m while Toshiba will pay $21m.
Carr plans £17m mill in Kirkcaldy
FLOUR firm Carr’s is to build a £17 million state-of-the-art mill at Kirkcaldy after its existing operations there helped it beat challenges facing the industry.
It said: “The new flour mill will be at the forefront of mill design, innovation and technology, with commissioning expected in September 2013.”
The Carlisle-based group said its existing wheat handling facility and mill near the town’s port had “far exceeded expectations”, securing supplies at competitive prices in the face of production problems in the US and eastern Europe.
Printer confirms redundancy talks
DIGITAL print firm Elevate You has confirmed it is undertaking a consultation process which may lead to 12 redundancies from its workforce of 35.
The Edinburgh-based company was founded by chief executive Jim Rae in 2005 when he led a management buyout of the business from Docuserve.
Earlier this month, director and minority shareholder William McColl resigned from the business.
Last month, it launched a new digital marketing tool for house-sellers called a Home Passport which is being rolled out across Scotland and England.
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Weather for Edinburgh
Wednesday 19 June 2013
Temperature: 9 C to 18 C
Wind Speed: 16 mph
Wind direction: West
Temperature: 12 C to 20 C
Wind Speed: 8 mph
Wind direction: East