Scottish Business Briefing – 21 June 2013
ECONOMICS
Scots firms optimism rise amid retail sales boom
SCOTTISH companies are becoming increasingly optimistic about their prospects for the rest of the year, despite a new study suggesting conditions may have weakened in recent months. Today’s upbeat report from the Bank of Scotland comes a day after official figures showed a surprise surge in retail sales last month, fuelling hopes that growth in the UK economy could accelerate in the second quarter. (Scotsman)
Scots producers suffer renewed turnover decline
SCOTTISH producers suffered a renewed decline in their overall turnover in the three months to May, a survey from Bank of Scotland signals. And the survey of 400 businesses, published today, points to a marginal acceleration in the rate of decline of the overall turnover of firms in Scotland’s dominant services sector in the three months to May. (Herald)
FOOD, DRINK & AGRICULTURE
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Hide AdBrewDog taps beer fans for £4m to launch its own chain of off-licences
ONE of Scotland’s largest brewers yesterday launched its second unconventional capitalraising exercise in as many years to bankroll the opening of a chain of bottle shops as it further diversify its business. Founders of Ellon-based BrewDog, Martin Dickie and James Watt, revealed they are triggering a third round of their “Equity For Punks” scheme, with 42,000 shares being offered at £95 each to raise £4 million.
Highland Show set for GM crops showdown on minister’s stance
THERE will be an interesting stand-off today at the Highland show with UK Environment Secretary Owen Paterson, fresh from giving a strong pro-genetic modification (GM) statement coming to Scotland where the devolved government has set its face against the new technology. (Scotsman)
INDUSTRY
Forsyths thriving on back of core whisky and oil markets
Moray company Forsyths continues to thrive on the strength of its two core markets, whisky and oil and gas, its latest results show. The firm, whose activities cover coppersmithing, steel fabrication, electrical and plumbing contracting, joinery, building and scaffolding services, saw pre-tax profits soar nearly 70 per cent to £4.83million in the year to October 31, 2012. (P&J)
TECHNOLOGY
EMC to open research and development base in Livingston
EMC, the New York-listed IT giant, will give Scotland’s technology sector a shot in the arm today when it opens its expanded research and development base in Livingston. The site will be used to help Scottish computing firms to develop products and services based around EMC’s technology. (Scotsman)