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Top story
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Speedy Hire grows again
Acquisitive equipment hire business Speedy Hire has reported a 22.3 per cent rise in revenues for the six months to 30 September to £256.2m over the same period last year, with pre-tax profits up 3.9 per cent to £23.8m. There has been mixed performance across the diverse group, which is headquartered in Newton-le-Willows, with infrastructure and utilities remaining strong and general construction performing more weakly. A programme is in place to realise £24.4m annualised cost savings, with further plans to deliver another £18m of savings. Chairman David Wallis said: “In these uncertain times we have erred on the side of caution, taking action on costs and spending in response to the more challenging environment. Our strategic focus remains to align ourselves more closely with the UK’s major construction and industrial groups and I believe the 36 per cent increase in turnover from the 50 largest of these businesses confirms this is the correct strategy.”
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Business
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Delivering business advice
A new company that helps start-up and high-growth enterprises has launched in Liverpool. The Delivery Practice offers consultancy services across a range of sectors and disciplines and has opened on Castle Street. The firm, which has already signed up more than 60 clients from across the North West, expects to reach a £1m turnover in its first year and has already recruited 41 staff and associate advisers. It is also preparing to take equity stakes in some of the companies it is advising and anticipates opening offices elsewhere in the UK in the next 12 months. The Delivery Practice has been founded by Andy Brown, former chief executive of BT Rich Media (later BT Vision), where he created the first digital content distribution platform of its kind in the UK. 
UU remains confident
North West utilities group United Utilities has this morning issued a half-yearly financial report that reveals pre-tax profit up 21 per cent to £305.9m for the six months to the end of September over the same period last year. The group is in a strong financing position, with “headroom” into 2010 following the return of £1.5bn to shareholders in August. Philip Green, chief executive of the region’s largest quoted company, said: “Our strategy to focus on our core skills has helped deliver operational performance improvements, although there is more to do. Customer satisfaction is at its highest levels for many years and we are on course to meet our regulatory leakage target for the third consecutive year. We remain confident of delivering a good underlying financial performance over the remainder of 2008/09.”
Growth and wins for CL3
Liverpool design and marketing agency CL3 has announced record turnover projections in excess of £1m. The company has enjoyed more than 100 per cent growth in each of the past two years. Meanwhile, developer Maghull Group has appointed the agency to overhaul its website, with a £30,000 redesign and implementation of a case management system and company archive. And CL3 has also been instructed by Vertigo Retail, which operates Lewis’s department store, to help raise footfall at the city retailer through a series of public relations and advertising activities.
ID surge hikes profits for GB
Chester-based identity management business GB Group, which helps companies understand their customer base through data recognition and verification, has turned a profit in the six months to 30 September following a £1m loss in the same period a year earlier. Revenues also increased by 43 per cent to £11.3m. Chairman John Walker-Haworth said: “Our focus on the identity management market has enabled the group to lead this emerging sector and we consider that GB is well placed to address this growing market.”
Regional power to boost local economies
Councils, local authorities and developments agencies were this morning preparing for new powers after the government announced new steps to tackle the local impacts of the credit crunch. The reforms, which follow consultation on commitments outlined in the Sub National Review of Economic Development and Regeneration (SNR) in July 2007, will make it easier for action to be taken at every level to boost jobs and skills and support businesses. There will be: a new duty on local authorities to assess the economic conditions of their area; new legal powers to help them work together on economic development; a new board of local authority leaders to provide stronger leadership at the regional; and a joint duty on development agencies and the local authority leaders board to prepare and agree a single strategy for each region outside London.
Powering up in Warrington
Following its expansion into the North West, Power4, provider of temporary and permanent power and lighting solutions, is continuing to expand its operations. The company, which recently opened its new office in Warrington, is in the process of adding an additional 20 lighting towers to its fleet and has secured new credit lines in excess of £1m to fund continued investment and expansion of its hire fleet.
Hilton gets hospitable
The 2009 Northern Hospitality Awards are moving to the Hilton Manchester Deansgate for next year’s awards and have a new category – Best General Manager. The awards will be held on 30 March and bars, restaurants, pubs and hotels from across the North West, Cumbria, Yorkshire and the North East will compete for categories such as best restaurant, best newcomer and best wine offering. The deadline for entries is 6 February 2009.
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Property
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Floating Concepts makes waves
Manchester-based waterspace developer Floating Concepts has appointed Derek Cochrane to its board. An expert in water management, Cochrane will supervise the masterplanning of harbour, port and marina developments for Floating Concepts. He has spent most of his career at British Waterways as a main board director responsible for regeneration and will also be a consultant to Floating Concepts’ associated company, Harbourside Marina, which operates the 370-berth Liverpool Marina and Bar & Grill and associated facilities. Floating Concepts' first developments look set to be in the South Docks at Liverpool and at Salford Quays. Its first luxury floating live or work unit is being imported from Denmark and is expected to arrive in Liverpool in early December.
Give us clarity, says DJ seminar
The property industry needs clarity from the government as it seeks to finalise its latest planning policy statement, PPS6, early in 2009, a seminar at consultancy Drivers Jonas heard this morning. The firm’s Rosalyn Eastman said: “We expect there to be more appeals and more schemes called in while the industry seeks clarification. What we’ll get depends on the government’s appetite for change, but the spin we’re getting is that the reinvigoration of town centres remains the priority, although there could be more flexibility for out-of-town consents.”
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