Scottish Business Briefing – Thursday 23 May, 2013
ENERGY & UTILITIES
SSE’s Ian Marchant wants end to ‘interventionitis’
OUTGOING SSE chief executive Ian Marchant today launched a final broadside against the growing culture of “interventionitis” that is engulfing the UK’s energy sector. Marchant warned that it was getting “frightfully difficult” to understand how the raft of incoming regulatory changes will affect the business he has led for the past decade (Scotsman).
Parkmead to expand North Sea presence with £14.5m purchase of Lochard Energy
Advertisement
Hide AdAdvertisement
Hide AdOil explorer Parkmead has agreed the £14.5 million takeover of fellow Aim-quoted firm Lochard energy to give it a 10 per cent stake in the North Sea’s Athena field. Parkmead executive chairman Tom Cross said today’s deal was “the most exciting and important” in the company’s history (Scotsman).
FOOD, DRINK & AGRICULTURE
AG Barr ‘positive’ despite Britvic jobs axe
Irn-Bru maker AG Barr has insisted that it “remains positive” over its planned £1.4 billion merger with Britvic, which today unveiled plans to cut hundreds of jobs after reporting a 50 per cent jump in profits. Pepsi-bottler Britvic is to close two manufacturing sites in Chelmsford and Huddersfield in the first quarter of next year under plans to merge its British and Irish business units (Scotsman).
INDUSTRY
BiFab to add 100 workers after win
A Scottish fabrication business is to recruit 100 people after winning another lucrative contract for a major North Sea gas project. Burntisland Fabrications (BiFab) said yesterday it would take on workers at its Arnish, Methil and Burntisland yards to build the accommodation unit for GDF Suez’s £1.4billion Cygnus development (P&J).
MEDIA & LEISURE
Bowl maker secures backing for exports
LAWN bowls maker Thomas Taylor, which was founded in Glasgow in 1796, has secured a £450,000 funding deal from Bank of Scotland to help it expand in Australia. The company, which turns over about £3.4m a year, has taken back its Australian distribution rights, hired its first overseas staff and will open a base “Down Under” (Scotsman).
RETAIL
Halfords reports big drop in profits
Car parts and bicycle retailer Halfords has seen a big drop in annual profits. Pre-tax profits for the 12 months to the end of March fell by nearly 25% to £71m compared with a year earlier. The company said the trading environment had been “demanding”, and announced a big investment plan including store revamps (BBC)