Scottish Business Briefing – Wednesday 26 June, 2013
INSURANCE
Direct Line set to cut 2,000 UK jobs
Direct Line Insurance has said that it is planning to cut 2,000 UK jobs as it steps up plans to reduce costs (BBC).
ENERGY & UTILITIES
Petrofac talks up prospects for growth
ENERGY services group Petrofac yesterday played up its growth prospects and said a key gas project in Algeria would restart shortly though its shares remained under pressure (Scotsman).
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BrewDog raises £1m in 24 hours
PUBLICITY-savvy Scottish beer company BrewDog raised £1 million towards its latest expansion plans in the first day of its latest “unconventional” cash call (Scotsman).
INDUSTRY
Wood Group PSN secures £40 million contract extension with ConocoPhillips
ABERDEEN-based Wood Group PSN (WGPSN) has continued its run of contract successes in 2013 after extending its deal to provide operations and maintenance services to ConocoPhillips’ 50 assets in the southern and central North Sea (Scotsman).
MANAGEMENT
Genius Foods seals Australian gluten-free bread deal
GENIUS Foods, the Edinburgh-based gluten-free baker, has signed a deal to break into the Australian market, as the firm targets sales of £50 million (Scotsman).
TRANSPORT
Stagecoach results beat market expectations
Transport giant Stagecoach has delivered better-than-expected annual profits, boosted by strong growth at its rail business (Scotsman).
SCOTSMAN CONFERENCE
The Future of the UK Aerospace Industry – 5 September 2013, Prestwick
20% Early bird discount until 12 July
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Hide AdThe UK Government signed up to a £2 billion partnership to keep the UK aerospace industry at the forefront of world aerospace manufacturing. Join us and hear the government explain its strategy to secure large numbers of high value jobs. Book your place today.