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Top story
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Get better informed, says TIF Yes Campaign
The Greater Manchester Yes Coalition has formally launched its campaign in favour of congestion charging and the Transport Innovation Fund (TIF) bid with a pledge to "destroy the myths" surrounding the £3b investment package. The campaign, which brings together businesses, unions, environmentalists, students and others, was launched at the Rochdale Centre of Diversity this morning. Speaking to Insider, David Russell of Property Alliance Group said: “We will be busy right through to the referenda in December. What we need to do is inform people and make sure they vote. The better informed they are, the more they see this is the right thing to do.” In support of the campaign, Ask chief executive Ken Knott said: “We have had a good 15 years but are deluding ourselves if we think the job is done. This city region is creaking at the seams.”
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Deals
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Profits up at Tenon with more acquisitions in view
Business advisory firm Tenon has posted an underlying profit increase of 34 per cent to £17.6m for the year ending 30 June 2008, with turnover up 17 per cent to £160.3m. At a regional level turnover grwq 80 per cent to £28m, buoyed by three acquisitions. Managing director for the North West Martin Kirby told Insider he expects growth to continue in 2009, especially in recovery services, while the firm is also on the look out for more acquisitions. He said: “It’s going to be a hard year there’s no two ways about it, but the hard year just makes you focus. We’ve got a balanced portfolio and we’re still very busy across all areas of the business. We expect to continue growing organically, but we are acquisitive by nature so we are talking to people about future opportunities.”
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Business
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Businesses feel the energy pinch
As Gordon Brown this morning announced a £910m package of measures agreed with energy companies to help people with rising bills, businesses said they are also feeling the pain. Kirsty Shenton, a manager in the entrepreneurial advisory team at Grant Thornton in Manchester, said many businesses fail to account for energy costs in financial forecasts. "It is vital businesses are flexible enough to respond quickly to rising gas and electricity bills and attempt to offset the additional costs in other areas," she said. "Finding the best energy deals can have a positive effect on margin." But companies will also start finding employees demanding higher salaries to help them cover costs at home. Sally Toumi, managing director of recruitment consultancy Stark Brooks in Manchester, said: "Because energy prices are having a personal impact on the man on the street, when looking for new jobs people are very conscious of salary and that the pound in their pocket is worth less, which impacts on salary negotiations."
Seguro enters administration
Macclesfield-based Seguro Travel, also trading as Seguro Holidays and Kent Escapes, has gone into administration, affecting around 20,000 British holidaymakers. In a statement on its website, the company said its failure was due to the collapse of Spanish airline Futura, which operated around 80 per cent of the company's flights. The Civil Aviation Authority is now advising Seguro customers who are yet to travel to submit a claim to them via the ATOL website, while it is also arranging for those abroad to complete their holidays and return home as planned.
AMS gel to hit US market
Winsford-based Advanced Medical Solutions (AMS) has been granted approval from the Food & Drug Administration to sell its anti-microbial wound gel in the US. The company said it is now able to target a niche but growing segment of the advanced wound care market. AMS' gel contains silver, widely recognised as a safe and effective anti-microbial agent for the control of infection from a wide range of micro-organisms. Shares climbed 4.7 per cent this morning to 33.5p following the news.
MediaVest retains £3m account
Manchester-based MediaVest has been retained by IT training company Computeach for its £3m advertising account, after a competitive pitch against Brilliant Leeds and McCann Erickson Central. The renewal sees the partnership enter its fourth year and it will also mean all of Computeach's advertising budget will be spent through MediaVest.
Prestbury shares suspended as talks continue
AIM-listed Prestbury, the troubled financial services company based in Alderley Edge, was yesterday forced to suspend trading in its shares for the second time in three months, after warning it would be unable to publish its interim results on time. Its preliminary results, showing a post-tax loss of £1m for the 14 months to 31 December, were published on 20 August and were also late. In a statement to the Stock Exchange this morning, the business confirmed that it has entered into heads of agreement to transfer its network of advisers, around 80 firms with 140 brokers, to Solihull-based Personal Touch Financial Services, but added that current negotiations "are not legally binding and the terms are subject to contract. There can be no certainty that the transfer will take place."
Region second in green grant table
The North West is in the top three regions in the UK for local and regional environmental funding initiatives, according to a new report by website Green Grants Machine. A survey of over 150 local and regional funding schemes found the region lies second with a total of 20 sources of funding to help businesses do their bit for the environment. The new findings come two months after Deloitte unveiled its first subnational report on the potential economic impact of failing to adapt to the climate change agenda. Dubbed the Mini-Stern report, the study indicated that the North West region could lose £72bn over the next 12 years if it does not act now to prepare for legislative and regulatory changes and take the lead with environmental specialisms.
Manufacturers set to debate their future
Tough competition from China has made regional manufacturers leaner and meaner. Klarius, the Blackpool-headquartered manufacturer of exhaust and catalytic converters, has seen productivity and investment continue to rise. Business development director Paul Hannah said: “While the manufacturing industry is undoubtedly going through a difficult period, the demand for high-quality replacement parts is most assuredly in place.” Insider and manufacturers’ organisation EEF are hosting a breakfast summit in Blackburn on 23 October to discuss the future of manufacturing with speakers including: Klarius managing director Andrew Jones; Andrew Brian, managing director of Optare; and Phil Humphreys, director of supply chain strategy for Military Air Solutions, BAE. For further information on the event, please contact our events team on 0161 907 9723 or email helen.rangeley@newsco.com.
New leader for Cumbria
Cumbria County Council has named Labour councillor Stewart Young as its new leader following an acrimonious split between the former ruling alliance. Young replaces Conservative Tim Stoddard, who was removed in a vote of no confidence following a falling out between the Conservative and Liberal Democrat administration that has run the council since 2001. However, the county now has a minority Labour administration after the Conservatives and Liberal Democrats refused to join an all-party cabinet.
New appointment at Macdonald Manchester
The Macdonald Manchester Hotel has appointed Steve Dunford as general manager ahead of its first birthday on 1 October. He has 23 years' experience in the industry, having worked for the likes of De Vere Hotels and Hilton. Dunford was latterly an area general manager for Mercure Hotels.
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Property
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Kingsway receives double boost
Rochdale Development Agency has made two appointments as it looks to develop and promote the Kingsway Business Park nationally. Keiron O'Neill has been promoted into the new role of investment and marketing director, while Glyn Pittendreigh joins from the Welsh Assembly Government as director of development at Kingsway.
NNR signs up for Orbital
Property agency Atisreal has acquired a 13,925 sq ft unit at Orbital 24, a 3.2-acre industrial site close to junction 24 of the M60 at Denton, on behalf of NNR Global Logistics. NNR has signed an eight-year lease at a rent of £5.03 per sq ft. It now plans to use the warehouse as its North West depot.
Planning agreed for The BoxWorks
Manchester-based Property Alliance Group has secured planning permission for The BoxWorks, a speculative office building on Ashburton Road West at Trafford Park. The building has been designed by Reid Architects and will consist of 30,000 sq ft of grade A space over four floors. The plans also include a gym and an executive suite. DTZ and GVA Grimley have been appointed joint letting agents.
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Insider
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Telephone: +44 (0)161 907 9711 Email: nw@insiderdaily.co.uk |
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