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Top story
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Profits up, revenue down at Carillion
Wolverhampton construction giant Carillion has reported pre-tax profits of £167.9m in its annual results this morning. Despite the 24 per cent rise on its 2009 results, the company experienced a drop in total revenue of 9 per cent in 2010. Chairman Philip Rogerson said he expected the global economic environment to “continue to make trading conditions difficult, especially in our UK markets”.
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Deals
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Boparan faces D-Day
Northern Foods shareholders have until 1pm today to accept Birmingham entrepreneur Ranjit Boparan's cash offer of 73 pence per share, as the clock ticks down on the possibility of a counter offer by Irish food manufacturer Greencore.
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Melrose continues subsidiary sell-off
Warwickshire engineering company Melrose has sold its subsidiary business Brush Traction, based in Loughborough. The business was acquired by a US engineering company for more than £19m.
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Van Leeuwen Wheeler swoops for Aberdeen business
A Brierley Hill tube and pipe distributor has acquired the assets of Mardale Pipes, an Aberdeen-based pipe supplier which had fallen into administration. Van Leeuwen Wheeler was advised on the deal by Kingswinford law firm Higgs & Sons.
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Indian acquisitions on the rise, says Grant Thornton
There was a sharp increase in Indian takeovers in the UK last year, according to merger and acquisition statistics from accountancy firm Grant Thornton. Indian companies announced 24 deals targeting UK assets valued at £571m last year.
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Property
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Property experts celebrate RST opening
More than 300 representatives from the West Midlands’ land and property sector attended an event hosted by construction company Mace. Birmingham-based Mace was celebrating the completion of the £56m refurbishment of the Royal Shakespeare Theatre (RST).
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Trio promoted at DTZ
Property agent DTZ has appointed three members of its Birmingham team to the position of senior director. John Leedham, David Tonks and Peter Preddy have all been promoted to the newly created position.
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Business
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Directors sought for key survey
Insider is carrying out a major survey of director attitudes to coincide with our forthcoming Midlands Directors Forum. We will be presenting the results of the survey at the event which will be held at the Hotel du Vin in Birmingham on 21 March and to this, we would welcome your views and opinions. To complete this less than five minute online form please click here.
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Shakespeare Putsman introduces new COO
Law firm Shakespeare Putsman has recruited Steve Taylor to the newly-created role of chief operating officer (COO). Taylor joins the Birmingham-based firm from DHL Europe where he was vice-president of human resources for northern Europe with responsibility for 10,000 colleagues in nine countries.
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Stourbridge firm advises Californian joint venture
Wall James Chappell, based in Stourbridge, has advised a California-based footwear company on an international joint venture. The law firm advised Freewaters as it prepares to enter both the North American and European markets.
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