New business secretary Vince Cable has given the strongest hint yet that “popular” regional development agencies (RDAs) in the north and Midlands could survive the raft of public sector cuts due to be announced by the Treasury on Monday. Speaking yesterday at a meeting attended by Insider, he said there seemed to be a strong business case for keeping the Northwest Regional Development Agency (NWDA) broadly in its present form. “I have not come here wielding the axe,” he said. “There are areas like the North West, Yorkshire and West Midlands, where there are real serious structural problems and there seems to be a broad agreement with local businesses that the RDAs are doing a good job.” However, he said that the agency would be reformed.

Philip Green, the chief executive of United Utilities, said today that the company has delivered a “sound set of results in a tough economic climate” following a strong focus on cost management and efficiency improvement. The North West utilities giant’s underlying operating profit rose 3 per cent to £756m in the year to 31 March, but pre-tax profit was down from £529m to £474m, mainly due to higher borrowing costs. But the company is optimistic about the outlook, following the latest Ofwat review of the sector which will see prices to consumers fall 0.4 per cent a year on average. Revenue edged up to £2.44bn from £2.43bn a year ago.

New Britain Palm Oil’s new Liverpool facility, which will produce refined palm oil, is due to begin operations within the next month. The business revealed that progress on the six-acre site on Regent Road has been good and completion is on schedule. The £18m plant will create 28 jobs and there is potential for further jobs should the facility expand. The facility will be supplied by regular shipments from the company’s plantations in Papua New Guinea.

Vimto-maker Nichols, based in Newton-le-Willows, has issued a bullish trading statement following a strong start to the year. Chief executive John Nichols said sales in 2010 were “well ahead” of last year and its own internal expectations. “In the UK, turnover is significantly up and we have out-performed the market as a whole,” he said. “With the key summer trading period still ahead, we are extremely pleased with the group's performance so far and the board is confident of delivering another strong year.” For the year to 31 December, Nichols reported a 29 per cent increase in turnover to £72.4m.

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In this month's property Ask The Expert Andrew Thomas, chief executive of the Centre for Construction Innovation, has been answering your questions on changes to the UK construction industry, both recent and required. Are contractors' practices really sustainable enough? And what does the industry need from the new government to recover from the recession? Read Andrew's thoughts here.