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Top story
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Media City now has to deliver, says Greenaway
Sinead Greenaway, the new chief executive of Media City, this morning described the Peel Media development as the "most exciting project in media this century". Speaking at Insider's Business of Media Summit at The Lowry, Salford Quays, Greenaway said the challenge now is to deliver and ensure the project realises its ambitions. "We all know the facts - it's the biggest media community in Europe - and we've spent more than £500m getting it to this stage," she said. "But we now have to put some meat on the bones. We aim to attract and support a rich media economy, but it has to have creativity flowing through its veins. We have to foster that creativity in the region." Greenaway, the former operations director at Virgin Media Television, was making her first public appearance as the new chief executive of Media City. Other speakers set to address the conference include Alex Connock, chief executive of Ten Alps, and Michael Nutley, editor-in-chief of New Media Age. Twitter users can follow the event under the hashtag #insidermedia. 
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Deals
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Antler is up for sale
Bury-based luggage company Antler has been put up for sale by Barclays Private Equity (BPE), which has appointed the Manchester office of KPMG to handle the sale process. BPE bought the firm in 2004 from The Royal Bank of Scotland. Following continued expansion into international markets, Antler opened an office in Chicago this year. It has also got designs on the Canadian, Japanese and Spanish markets. This export strategy is fuelling growth in a tough market, a key aim for private equity owners at the moment.
MAG gets help to manage currency risk
Manchester charity Mines Advisory Group (MAG) has secured a new banking facility with The Royal Bank of Scotland to cater for its cross-border activities. Over half of the charity's £28.7m income is received in foreign currency from organisations such as the United Nations and donor governments. The bank is helping it to make contingency plans for exchange rate volatility because unlike commercial organisations, MAG is unable to hedge its foreign currency transactions.
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Business
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Sales up at acquisitive JD Sports
JD Sports Fashion, the Bury-based retailer of sports fashion apparel and footwear, has this morning reported an 8.4 per cent rise in revenue for the 26 weeks to 1 August, against the same period last year, as executive chairman Peter Cowgill said the company will continue to look at acquisition opportunities in retail markets and related areas. Group profit before tax and exceptionals increased by 14.5 per cent to £14.2m. Cowgill added: "Sports Fascias remain the core of group profitability. Their strength lies in our unique blend of sports and fashion brands, the strong brand relationships, which allow us to develop exclusive products, and our exclusive own brands and superior visual merchandising." These strengths, he said, should aid the further development of French retailer Chausport.
Morson profits from temporary approach
Industrial recruitment and project design business Morson Group has increased interim earnings by 18 per cent against the volatile economic backdrop. In the first six months of 2009, the company recorded a pre-tax profit of £4.9m against a turnover of £220m. Morson admitted that the wider economic conditions had impacted the business but said its strategy of concentrating on temporary rather than permanent recruitment, and infrastructure, was working well. In a statement, non-executive chairman Garry Mason said the "prospects for long-term future growth are positive".
Revenues up at confident Ai Claims
Ai Claims Solutions, the Blackpool-based motor accident claims outsource company, this morning reported a 37 per cent growth in revenue to £55.7m for the year ending 30 June, with an adjusted pre-tax profit of £2.016m, up from £2.159m in 2008. These results were posted despite what the company described as "the background of considerable turbulence in the sector". Chairman Steve Broughton said: "Current market developments are creating opportunities which we believe are ideally suited to Ai because of our low operating cost model and partnership approach. Whilst debt collection remains a challenge we are well placed to capitalise on these opportunities as customers increasingly look at all aspects of their operations for cost efficiencies and opportunities for value generation."
Tourism shortlist unveiled
Next Monday the region's top tourism businesses will be vying to be named the best in the North West at the sixth annual England's Northwest Tourism Awards. Finalists include: Liverpool's Malmaison, the Carden Park Hotel, the Imperial War Museum North, Liverpool's Anglican Cathedral, Ullswater Steamers in Glenridding, Kendal's Castle Green Hotel and the BT Convention Centre in Liverpool. This year's event will be held at Blackpool's Tower Ballroom and will be hosted by BBC North West Tonight presenter Ranvir Singh.
Equity Red Star targets Manchester
Equity Red Star, one of Lloyd's largest motor underwriting syndicates, has opened its first office in Manchester and is hoping to expand its regional fleet, haulage and special risks business through working closely with major brokers operating in the commercial insurance market. Regional underwriting manager Andrew Wright said: "Opening an office in Manchester will allow Equity Red Star to create tailored solutions for the leading locally based brokers. It also means we can widen our talent pool by attracting people with valuable grass roots knowledge."
Virtalis teams up to promote mining product
The Brazilian operation of global professional services consultancy Coffey International has entered into a preliminary strategic partnership with Sale-based virtual reality (VR) company Virtalis. Virtalis will be showcasing GeoVisionary, 3D landscape visualising software that it developed jointly with the British Geological Survey, at Coffey's booth during EXPOSIBRAM 2009 in Brazil, the largest international mining conference in Latin America. Coffey general manager of operations in South America, Craig McCloskey, said both businesses have signed a memorandum of understanding to embed new VR technologies in the mining industry.
Enterprise and entrepreneur academy launches
The new National Enterprise Academy, the UK's first educational institution dedicated to enterprise and entrepreneurship, officially opened in Manchester yesterday. From its base at Manchester College's One Central Park campus, it will operate year-long courses for 16 to 19 year olds wanting to start their own companies. Local businesses are being asked to provide mentoring and work placement opportunities alongside the course. Founder Peter Jones, the entrepreneur and Dragons' Den investor, said: "Up until now, we have simply not done enough to unlock the entrepreneurial talents of our young people."
Flame launches mobile division
Manchester-based creative agency Flame Digital has formed a mobile marketing division, Flame Mobile. The division will offer clients a range of mobile services, and the capability to execute across all mobile channels, in addition to consulting, creative, mobile search engine optimisation, planning and buying. Flame has recruited industry veteran Jon Beverley to set up and lead the division. He was previously chief executive of Scan Mobile.
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Property
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OFT probe finds 103 firms colluding on price
Four North West construction firms have been fined as part of a UK-wide crackdown on contract pricing in the industry. The Office of Fair Trading has imposed fines totalling £129.5m on 103 construction firms in England which it found had colluded with competitors on building contracts. Wigan-based Allenbuild, Bramall Construction, which has regional offices in Salford and Liverpool, Cheshire-based Seddon Group and Rochdale's Richardson Projects are among the list of companies. Adam Alfred, partner at Addleshaw Goddard, said companies fined more than 0.5 per cent of their turnover should consider an appeal.
Pochin's posts £9.4m loss
Property group Pochin's this morning reported losses reflecting "the most dramatic and sustained collapse in property values in living memory". In the year to 31 May 2009, the company clocked a pre-tax loss of £9.4m against a turnover of £102m; a year earlier a £1.8m profit was achieved against revenues of £115m. Pochin's rebranded construction division was the strongest perfomer of the period, while its development and investment division, residential operation and concrete pumping arm were hit by lack of demand and falling asset values.
Northern Industrial sign three new tenants
Acting on behalf of Northern Industrial, the Manchester office of Lambert Smith Hampton has completed a trio of industrial property deals at Willan Industrial Estate in Salford. Piotr Felczak has taken 3,000 sq ft on a three-year lease, while 2,000 sq ft has been let to Forshaw Fencing on a one-year lease. The third deal has seen Full Stretch Screens take 1,250 sq ft of space on an 18-month lease. Willan Industrial Estate comprises 47 single-storey units ranging in size from 500 sq ft up to 2,500 sq ft.
Four in running for building prize
Four buildings are in the running to win a local property prize from the Greater Manchester Chamber of Commerce. The Armani Building at Spinningfields, the New Royal Manchester Children's Hospital, Ashton Market and the Bolton Market Shopping Centre have all been shortlisted for the Greater Manchester Building of the Year Award 2009. The prize is given to recognise some of the key construction projects that have been completed over the past year.
Theobold joins DBK
Kevin Theobold has left Redrow to become director and head of the North West regional office at construction, property and development consultancy DBK in Manchester. Prior to working for Redrow, Theobold was in charge of a project management and cost consultancy practice in Manchester, specialising in commercial development. Duncan Berry, principal director of DBK, said: "He is highly respected and experienced, and enjoys a high-profile in the industry."
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