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Scottish Business Briefing - Monday 28 January, 2013

Fiona McBain, Chief Executive of Scottish Friendly

Fiona McBain, Chief Executive of Scottish Friendly

WELCOME to scotsman.com’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.

BANKING

Scottish Friendly reports leap in sales

New online products have helped drive up sales for Scotland’s largest mutual society, Scottish Friendly. The financial services group’s sales of core life and pensions products rose 35% last year to £8.5m (BBC).

Read all today’s banking news from scotsman.com

ENERGY & UTILITIES

Windfarms generate £165m before they start turning

OFFSHORE wind farms have already generated £165 million for Scotland’s economy despite many projects having only just entered the planning system, according to figures released today ahead of a major industry event (Scotsman).

Optima founder takes the helm at Spex Group as Aberdeen’s economy grows

ENTREPRENEUR Jamie Oag is returning to the oil and gas industry’s frontline by taking over as chief executive at engineering firm Spex Group, less than a year after selling his last company for £40 million. Oag netted £17m after New York-listed Tetra Technologies bought oil rig cooling company Optima last March (Scotsman).

Read all today’s energy and utilities news from scotsman.com

FOOD, DRINK & AGRICULTURE

Edinburgh bar group Montpeliers toast profit rise

THE company behind some of Edinburgh’s best-known bars is toasting a 15-fold jump in profits thanks to “excellent” profit margins at its nightclubs. Montpeliers – which owns bars and restaurants including Indigo Yard, Rick’s and Tigerlily, as well as Lulu and Opal Lounge nightclubs – made a pre-tax profit of £1.5 million for the year to 29 April. That compared with a £101,000 profit in the previous 12 months (Scotsman)

Read all today’s food, drink and agriculture news from scotsman.com

INDUSTRY

Clyde Corrosion Control to double headcount

A SCOTTISH industrial coatings firm has forecast “exponential” growth using the springboard of a £50,000 investment and the acquisition of a division of Doosan Babcock completed just before Christmas. Clyde Corrosion Control secured five jobs with the acquisition of coatings business ICSE from Doosan (Scotsman).

Read all today’s industry news from scotsman.com

TECHNOLOGY

Creative SMEs can win R&D funding

THE emerging cluster of digital and creative firms in Glasgow is in line for an investment boost of up to £900,000 through a business innovation competition launched today. The Digital & Creative Clyde Launchpad is open to SMEs based in the area covered by Glasgow City Council, those planning to move or set up there, and projects involving collaboration with companies already in the territory (Scotsman).

Read all today’s technology news from scotsman.com

 

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