Scottish Business Briefing - Tuesday 11 September, 2012
INDUSTRY
Cala refocusing pays off as group posts highest profits in 13 years
CALA, the Scottish housebuilder, has revealed its highest profits since the group was taken private in 1999. The company has benefited from a major restructuring and a focus on the premium end of the market to record a sharp rise in annual pre-tax profits from £2 million to £11.4m (Scotsman).
Earnings at Murgitroyd soar after US expansion
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Hide AdGLASGOW-based patent and trademark attorney Murgitroyd has seen earnings soar 10.3% after expansion in the United States helped it to win business. Turnover at the firm increased by 7.5% to £35.7 million in the year to May 31 as it benefited from the first full year of operation of its new business development office in San Francisco (Scotsman).
INSURANCE
Direct Line could begin flotation process this week
ROYAL Bank of Scotland is believed to be preparing to kick off the flotation of its Direct Line insurance arm within the next few days. The bank has been eyeing an initial public offering of the business next month, subject to market conditions, and sources said the process could begin as early as this week (Scotsman).
ECONOMICS
Vow to slash health and safety rules is applauded
HEALTH and safety rules affecting thousands of businesses are to be swept away as part of a UK government drive to slash red tape and boost growth. From next April premises seen as low risk, such as shops, offices and pubs, will be exempt from health and safety inspections (Scotsman).
ENERGY & UTILITIES
‘Time for heavy oil in UKCS’
Opportunities for developing heavy oil in the North Sea are significant, an expert said last night, ahead of an industry conference in Aberdeen. The World Heavy Oil Congress is being attended by about 1,000 delegates from all over the world (P&J).
MEDIA & LEISURE
SpaceandPeople shares soar after contracts boost