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Top story
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Park Group narrows losses as confidence returns
Two years since the high profile collapse of rival hamper business Farepak, Wirral-based Park Group has narrowed its pre-tax losses by 17 per cent as consumer confidence begins to return to the Christmas savings sector. The company, which has seen a 15 per cent increase in orders this year, reduced losses to £3.2m for the six months to 30 September, while revenues increased to £32.3m from £31.3m for the same period last year. Park chairman Peter Johnson said the group hadn’t been adversely affected by the economic downturn and its business model should enable it to post a “good set” of year end results. “Our low risk strategy has served us well and ensured that our balance sheet has no bank debt and the business is cash generative, thus we have been able to avoid exposure to the credit crunch,” he said. “The Park model provides an attractive way to budget for Christmas in difficult economic climates.”
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Deals
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Fuel for thought
Liverpool-based fuel distribution business Rowilco Fuels is expanding with a £600,000 investment from Alliance Fund Managers (AFM) through the Merseyside Special Investment Fund (MSIF) Venture Fund. Rowilco was formed by managing director Neil Williams in 2007 and supplies fuel oils to industrial, agricultural, retail and haulage customers nationwide. Williams said: “The investment has allowed us to open credit lines with a wider range of suppliers, which in turn will enable us to offer highly competitive prices to our customers.” Rowilco is based on Great Howard Street and expects to double turnover and staff numbers in the next year. 
In Focus – a man with two cows
So what now for private equity? How private equity players adapt to a recessionary market is important for the economy in the whole of the North West and the sustainability of Manchester’s role as a key financial centre. In this week’s online deals column, In Focus, Insider editor Michael Taylor examines how private equity and venture capital will operate “in a world without banks”. “Banks are unable to commit, or unable even to club together to provide the debt element. Now more than ever there are plenty of people thinking hard about an investment strategy in a world without banks,” he says. Click here to find out more.
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Business
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Hurst among equals at KPMG
Jonathan Hurst is the new office senior partner at accountancy firm KPMG in Manchester. Hurst has been an audit partner at the firm for 13 years, leading the firm’s relationships with clients such as The Co-operative Group, JD Sports, Pets at Home and Adidas. He said: “It is a privilege to lead one of KPMG’s largest regional offices.” Malcolm Edge will remain as KPMG's chairman in the north, covering Manchester, Leeds, Liverpool, Newcastle and Preston.
Counting the days
Some good news for the travel industry at last, but less festive cheer for regional leisure businesses. UK consumers are continuing to earmark cash for their annual holiday in 2009 at the expense of short breaks and pub and restaurant outings, according to PricewaterhouseCoopers (PwC). A consumer survey by Mintel, launched in April 2008, indicated more than 1,500 consumers ranked holidays and short breaks as the top two spending priorities for 2008, six places higher than debt repayment. When PwC asked the same question in November, debt repayment had risen to first place, but with large holidays sticking close by in second. Only 1 per cent of consumers say they will prioritise drinking and eating out. PwC head of travel Malcolm Preston said: “It will be a white-knuckle ride for the travel industry as it adapts. Those who are flexible and switch the emphasis from the discretionary short break to the semi-discretionary main holiday will maintain a strong market position.”
Star calls for Asian ambition
Star Candidate, part of Wirral- and Wales-based recruitment advertising and candidate management group Lee & Nightingale, has been appointed by financial client planning services company The Henley Group as its first sole UK recruitment partner, sourcing candidates for roles in the Far and Middle East. The Henley Group is based in Hong Kong and Singapore, and Star Candidate has used a video-interview podcasting system to overcome distance and time barriers between the UK and Asia. It has been working with The Henley Group since September 2008 and is about to begin the second recruitment push for the March 2009 intake. The company owns and operates northwestjobs.co.uk and northwalesjobs.com.
University to become clinical research centre
The University of Liverpool has been awarded £2.75m from the Medical Research Council (MRC) to become one of only seven UK hubs for developing clinical trial research. The North West Hub for Trial Methodology Research will specialise in drug safety, medicines for children, epilepsy and cancer and collaborate with the universities of Lancaster and Bangor. The MRC, in partnership with the National Institute of Health Research (NIHR), has provided £16m of funding to establish a national network of centres that will develop new and improved methods to design, conduct, analyse and report clinical trials.
Meat and greet
Top butcher Bexleys of Liverpool has scooped the coveted title of best butcher in the UK at the Butcher’s Shop of the Year Awards, organised by the Meat Trades Journal, which recognises excellence in the independent meat retail sector. Bexleys director Martin Brereton said: “Last year we won the north of England title and on the strength of that were asked this year to supply fresh meat to the MTV awards at the Liverpool Echo arena. The UK title is great testament to the quality of meat and service we provide.”
Edge Lane saga continues
The Edge Lane West scheme, which involves the extension of the dual carriageway into Liverpool city centre and the demolition of 370 homes, has been hit by a further setback as the city council admitted the project's costs had climbed to more than £20m. Campaigners have now launched a new legal challenge to the scheme’s Compulsory Purchase Order, granted in September 2008.
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Property
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Miller signs in St Helens
Developer Langtree has secured the first letting for its new business park in St Helens, Mere Grange. Miller Construction (UK), part of the property giant Miller Group, has taken a 3,316 sq ft office on a five-year lease. Frank Joyce, area director of Miller, said: “The decision to relocate from Manchester to St Helens was made easier by Mere Grange’s excellent location and also the high quality of the offices and the surrounding landscaping.”
Glacer space up for grabs
New Liverpool property consultancy Roy Backhouse Co is marketing two industrial units in the refurbished Glacer Building at Brunswick Business Park in Liverpool. The units are of 12,936 sq ft and 11,515 sq ft respectively. Backhouse said: “These premises are in a great location and have one of the highest quality specifications available in the area.”
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