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Symmetry makes slow recovery
Orthopaedic device manufacturer Symmetry Medical’s Sheffield operation is not expected to return to profitability this year, the company has revealed when releasing its third-quarter results. The Sheffield operation reduced losses overall throughout the three-month period to 4 October 2008, after previous job cuts. It saw operating profit in September but the company says: “Given the impact of foreign exchange and slower than expected improvements, the company does not expect the Sheffield unit to reach profitability for the full fourth quarter of 2008 as previously anticipated but does expect that Sheffield will exit the fourth quarter of 2008 at break-even operating income.”
The Indiana-based company, which projects overall revenues for 2008 of $422m, said: “The company is beginning to benefit from sales price increases, material efficiencies and the third-quarter reduction in headcount at the Sheffield facility showing up in improved operating income.” Brian Moore, president and chief executive, said: “While slower than we originally expected, our Sheffield operation is recovering with narrower losses and greater efficiencies.”
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Your questions answered
Yorkshire Business Insider is hoping to answer all your questions about international trade with a special question and answer session run with the help of an expert. To get the ball rolling, from this week we will be inviting you to submit any questions about setting up business in Europe, and particularly about marketing in European countries, to asktheexpert@newsco.com. These will be answered by Jim Hart, managing director of the Yorkshire-based European Marketing Agency. He has more than 16 years’ marketing experience in Europe, with clients including Hewlett-Packard and IBM, and his company recently won a Queen’s Award for Export. By early December we will have his answers on the newly expanded international trade section of our website, which you can visit here.
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Further decline at Johnston Press
Yorkshire Post and Sheffield Star owner Johnston Press says advertising revenues have declined further in the second half of this year, with digital advertising, which had been up 36.8 per cent, showing slower growth. The company, which owns a string of local newspapers in the region, said total advertising revenues for the 44 weeks to the beginning of November were down 15.5 per cent on last year, with property and recruitment advertising particularly badly hit. Total newspaper circulation was also down on last year, which the company blames on economic conditions and waning interest in the property market. Contract printing, however, was 5.3 per cent ahead of last year.
Martek goes to Korea
Martek Marine has won a contract for 44 of the company’s MariNOx emissions monitoring systems to be installed across four major shipyards in the South Korean city of Busan. The company has also made Alex Smith sales manager for Korea.
Premier Inn invests in Sheffield
Premier Inn has embarked on an investment campaign in Sheffield. As well as its 122-bedroom hotel at St Mary’s Gate, which is part of the £10m Citygate S1 development and will bring 65 jobs to the city, it plans to extend its Sheffield arena hotel by 35 rooms next year. The investment forms part of a five-year plan to increase the number of rooms by 10,000 across the UK. The hotel chain has also bought a number of Holiday Inn Express hotels across the region.
Engineering will solve financial problems
Engineering expertise will hold the key to solving problems in the global financial system, the former president of the Royal Academy of Engineering told an audience at Sheffield Hallam University this week. Speaking at the presentation of his honorary doctorate at the university, Lord Alec Broers said: “Only engineers can form a working model for our financial system – something I wish we had known before. Every discipline must work together to find solutions to the challenges of this century, but I believe only engineers can find ways to simplify and apply those solutions, and to make them work – in short, to get on with it.”
£1.1m for construction sector
Construction companies are to receive subsidies towards employees’ wages as part of a £1.1m grant from the Coalfields Regeneration Trust (CRT). The grant, awarded to Barnsley Community Build (BCB), is for a training and employment brokerage service to open up construction industry opportunities for people classed as not in employment, education or training (NEET) from deprived areas in Barnsley, Doncaster and Rotherham. The service, which will run to March 2011, is expected to create 200 jobs.
Talent attracted to Sheffield
Relocate2Sheffield, the service that helps find employees of businesses relocating to the city find homes and schools, is launching a service for local companies Talent2Sheffield. Talent2Sheffield will help local businesses attract talented individuals. The service will offer guidance on how to make a job offer more attractive as well as delivering relocation support once a candidate accepts a position.
Inspiral seeks redundant managers
Inspiral, the Sheffield-based business support organisation, is focusing on managers made redundant by the credit crunch. The organisation is launching an online portal to offer start-up advice and business growth tools aimed at the wave of start-up businesses in the creative and digital sector.
Kids linked to entrepreneurs
Rotherham based u-xplore, an educational media company, has launched an enterprise section on its website for Enterprise Week, which runs from 17 to 23 November. The software enables students to work on providing solutions to actual business challenges set by entrepreneurs while being tutored by the entrepreneurs themselves.
K-Pasa open for business
Sheffield’s K-Pasa Latin restaurant has reopened following a £500,000 refurbishment. The restaurant, which has taken on new chefs, will be promoting business lunches.
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Removals company moves itself
Nationwide removal company Clockwork Removals has taken a 17,727 sq ft unit at Langtree’s Vector 31 business park in Rotherham. The company has taken on a five-year lease with an option to purchase and has relocated 12 staff from Dronfield.
Lettings going well in ‘difficult’ market
Velocity Estates has released the final phase of apartments at the £110m Velocity Village mixed-use development in Sheffield as all previous residential phases have been fully let. Residential manager Suzanne Wright said: “The city centre residential market is experiencing difficult times, and our lettings approach has enabled us to enjoy further success as an increasing number of people are looking to rent.”
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Colclough on national standards
Rotherham-based Horbury Building Systems’ operations director Gavin Colclough has been appointed to Federation of Plastering and Drywall Contractors (FPDC) to promote best practice, excellence and professionalism in drywall and plastering.
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Entrepreneurs pass it on
Sheffield entrepreneurs are being encouraged to share their knowledge and experience with young people involved in enterprise activities across the city and local start-ups at an event organised in association with the BiG – Make it Your Business programme and Sheffield’s BME Business Forum. The event takes place at 5.30pm on 20 November at Sorby House.
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