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Strong year for Pets at Home

Pets at Home, the Cheshire retailer which was sold to US private-equity house Kohlberg Kravis Roberts for £955m in January, has posted a 36 per cent increase in pre-tax profits driven by new store openings and strong trading in its existing shops. The company reported a profit before tax of £54.2m for the year to 25 March, up from £39.9m a year earlier, while turnover increased 15.7 per cent to £467.7m. Chief executive Matthew Davies said the business opened 24 new outlets during the year and remained committed to investing in its portfolio. “We have maintained the momentum built in recent years, continuing our strategy of extending the Pets at Home experience to new customers, exciting those customers through innovation and service,” he said. “Our goal is to make Pets at Home the best pet shop in the world.”


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Deals
Begbies swoops on Vantis assets

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EV to open in Liverpool and Cumbria

Business
RBS boss Stephen Hester: Turning round the super tanker

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Land Rover unveils new Halewood model

Up to 1,000 jobs could be created at Jaguar Land Rover’s plant in Merseyside following the launch of its new Range Rover. The vehicle, which will be called the Evoque, was unveiled at a ceremony in London last night. It is said to be most fuel efficient Range Rover that the company has ever produced. The car is expected to be formally unveiled at the Paris Motor Show at the end of September and go on sale in the summer of 2011.

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Impact Holdings boosts profits

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Confidence returning, says Yorkshire Bank

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B2B sees Shanghai opportunity

Property
Property of the Week

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DTZ expert: Manchester a property "cold spot"

Manchester is a “cold spot" in the UK property investment market, despite a more positive national picture. That’s the verdict of DTZ’s Tony McGough, the head of global economics and property forecasting and his colleague Martin Davis, head of UK property research. “Our own analysis supports a more positive outlook for the UK, with sufficient equity to resolve debt funding gap,” they said. But they added that most UK activity is in the central London office market.

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Blackpool names BSF contractors

Blackpool Council has selected Eric Wright Group and Northgate Managed Services as its preferred bidders to deliver the £180m Building Schools for the Future programme. Eric Wright is headquartered locally in Preston, while Northgate has operations in Bury. Work is expected to start this year at the first schools to be delivered with the remaining schools delivered in the next five years. The council’s David Lund said: “Eric Wright has made a commitment to working with local suppliers and recruiting from this area.”

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SEGRO lets two more

Industrial property powerhouse SEGRO has completed two further lettings at Trafford Park. Lindab, a manufacturer of sheet metal products, has taken a 44,080 sq ft unit on a ten-year lease, while cable supplier Cable Glands has taken 4,670 sq ft of space at Premier Park on a ten-year lease. SEGRO’s leasing executive Hazel Lambert said: “The past two months have seen deals to both new and existing occupiers, which really demonstrates how SEGRO is listening to the market and adapting accordingly.”

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Work starts at JD Sports warehouse

Work has begum on the 850,000 sq ft JD Sports warehouse development at Rochdale’s Kingsway Business Park. The warehouse, which comprises 616,000 sq ft distribution centre and 250,000 sq ft of mezzanine space, will be built by Winvic Construction for Wilson Bowden Developments. Work is expected to complete by spring 2011. Roger Ellis, chief executive of Rochdale Borough Council, described the development as “great news for the local community as JD Sports will be retaining existing jobs and attracting new employment opportunities”.

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£3.5m Linley House refurb complete

The £3.5m refurbishment of Unites Utilities Property Solutions’ Linley House office building in Manchester has been completed. The scheme, which was designed by architect Buttress Fuller Alsop Williams and project managed by Walker Sime, is now being marketed by Edwards & Co and Lambert Smith Hampton. The building, set over eight floors, already houses Cable & Wireless UK and Electricity North West. Rent is quoted at approximately £16.50 per sq ft.

Something for the weekend
Agencies work for iGod

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Canape won’t pay

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