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Cheshire trading company NWF Group is selling off its garden centres division in a bid to strengthen its balance sheet and combat volatility in the raw materials markets. NWF, which now operates in the distribution, fuels and animal feed sectors after discontinuing garden centres pending sale, posted a 20.8 per cent increase in turnover to £361.2m across the three sectors for the year to 31 May 2008. But pre-tax profits were down from £5.8m in 2007 to £4.2m in 2008. Chairman Mark Hudson said: "Feeds and fuels have started the year positively, but are influenced by significant changes in their raw material markets. We are making good progress with the sale of the garden centre division and plan to utilise the proceeds to strengthen the balance sheet." 
A report out today on the regeneration of British cities suggests Manchester is not strong enough to support its surrounding city region and that people would be better off moving to the South East than relying on local regeneration efforts. Cities Unlimited, by the Policy Exchange think tank, states that there is “no realistic prospect that our regeneration towns and cities can converge with London” and larger cities like Manchester and Leeds are not strong enough to deliver prosperity to surrounding areas. But Adam Marshall, head of policy at centre-left think tank Centre for Cities, said: “It is true that economic geography and history have constrained some of our cities and that government’s goal of convergence of the south and the north is unrealistic. We need to build on regional hubs, focus resources on places like Manchester and Leeds. It may be true that they are too weak now for success to spill over to other towns, but if we strengthen them first and then improve connection with places like Blackburn and Burnley, people will be able to access jobs in these regional hubs.”
Top London bus order for Optare AIM-listed bus builder Optare has received an order worth £2.3m from London United, an operating subsidiary of Transdev. The Blackburn-based manufacturer will provide 19 buses to the capital, which is believed to be the first order of its type from a Transport for London operator. The buses are to be delivered in the last quarter of 2008. Shares in Optare were at 25.5p during morning trading.
Funding for Bolton scientists Scientists at the University of Bolton have scored a £1.1m funding package to develop a medical technology aimed at bringing earlier diagnosis of diseases such as breast cancer and detection of viruses such as SARS. The university has been awarded the research and knowledge transfer grant by the Engineering and Physical Sciences Research Council. A team led by Professor Jack Luo will develop micro-biosensors invisible to the human eye that can detect and identify tiny abnormalities in blood at a very early stage, or can detect the slightest trace of a virus.
Renold secures NYC deal Wythenshawe-based industrial manufacturer Renold has been awarded a £9m contract by Mitsubishi to supply couplings and gearboxes for the New York City Metro North Transit Authority. The couplings and gears will be used in the propulsion systems for a new fleet of rail cars due to be rolled out in 2009. Bob Davies, chief executive of Renold, said: "This is another significant contract win for Renold and augments our order book, which at the end of June was already 32 per cent ahead of 12 months ago."
Football will suffer soon, says PKF Accountancy PKF has released its seventh annual survey of football club finance directors. The survey shows that 89 per cent of clubs are now using more than 90 per cent of their overdraft facilities, up from 46 per cent in 2007. Partner Jane Jackson said: "It is understandable that banks are more reluctant to lend. This may also reflect a deep-seated unease about the financial viability of some Premiership clubs." With two-thirds of top flight clubs trimming their playing squads - up from 15 per cent - Jackson said: "The optimism of clubs expecting sponsorship to grow is likely to be short lived. Once the existing deals are complete it is doubtful that new deals will be easy to secure."
Macclesfield minerals business offers PLUS trading AIM-listed Tertiary Minerals has begun trading on PLUS to enhance investor choice and improve liquidity for shareholders but the Macclesfield-based company will continue to be quoted and traded on AIM under the same name. Tertiary Minerals aims to provide capital growth for shareholders through the exploration and development of mineral deposits.
Urquhart hires manager for Manchester HR consultancy The Urquhart Partnership has appointed Paul Halliwell as commercial manager in its new Manchester office. He joins from training and recruitment company RK Group. Urquhart is based in Aberdeen and opened in Manchester this year.
The Preston Tithebarn Partnership, a joint venture between Grosvenor and Lend Lease, says that 80 per cent of respondents in public consultation support the proposals for the £700m retail-led regeneration scheme. John Lewis has signed up as one of two anchors for the 1.5 million sq ft of retail floorpsace ahead of a planning application this autumn. Eighty-one per cent of respondents said the scheme would improve visitor numbers and 78 per cent thought it would elevate Preston's status within the region.
Bold International invests in Jersey Warrington-based investment company Bold International Properties (BIP) has acquired an apartment development in Jersey for £8.2m. With backing from The Royal Bank of Scotland, BIP has bought a development consisting of 48 units in St Helier from Jersey Waterfront Hotel Holding in an agreement to lease back the accommodation to the company. BIP's portfoilio, which includes developments predominantly in the warehousing and accommodation sectors, is managed by Liverpool-based consultancy Sefton Group.
Multibuild secures Grimsby contract Stockport-based Multibuild has won a multimillion-pound contract to build a Primary Care Centre in Grimsby on behalf of LSP Developments. It is the latest in a growing line of similar projects that Multibuild has won from the same client. The 58-week schedule is due to complete in June 2009. The new three-storey facility will be built on a brownfield site and will feature a steel-frame construction with brickwork cavity walls and cedar cladding.
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