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Top story
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Rare pair of investors back SenseLogix
SenseLogix, a North Wales company which installs energy reducing technology, has won investment from an unusual combination of a US venture capital house and Newcastle-based investment fund. Beringea and North Star Equity Investment Partners invested £1m in SenseLogix, which is based in Conwy. The funding round included support from the Welsh Assembly Government linked to the creation of new jobs.
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Companies
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Peter's sales slip as downturn bites
Peter’s Holdings, the pie maker and food supply group, took a profit hit as the downturn caused turnover to fall for the first time in five years. The Caerphilly company’s pre-tax profits fell to £372,000 in the year to May 2010, down from £974,000 the year before, on sales which dipped to £63.7m from £64.4m.
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Henry Howard Finance predicts upturn
Henry Howard Finance, the Newport-based leasing company, expects income to bounce back this year after profits rose but turnover dropped by £8m to £14.7m in the year to April.
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Rhyal engineers turnover boost
Rhyal Engineering, an engineer to the petrochemical industry based in Milford Haven, has almost doubled its turnover to £23.4m in the year to 31 January.
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Property and construction
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Barclays backs Liberty development
Liberty Property, the Swansea-based developer, has raised finance from Barclays for a £60m luxury residential development in London’s Hyde Park Square. Liberty, whose name is on Swansea’s football and rugby stadium, also plans to build three office buildings next to its site at Swansea’s Matrix Park.
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Tiger Bay to roar again as Porth Teigr
Igloo, the Aviva Investors property fund, and the Welsh Assembly Government have chosen Porth Teigr as the name for their mixed use development at Roath Basin in Cardiff Bay, once known as Tiger Bay.
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South Wales office market steady
Take-up of offices in South Wales office market in 2010 is expected to match activity in 2009, according to a report by property consultancy Knight Frank. Activity during the year was dominated by smaller transactions, rather than big-ticket deals, which Knight Frank said indicated a robust underlying market.
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People
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BBC Wales chief Richards to step down
BBC Wales director Menna Richards will step down from her post in the New Year after more than ten years at the helm.
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Hargreaves to lead IP review
Ian Hargreaves, the Cardiff University professor and former Independent editor, is to lead a UK government review into how intellectual property can drive growth and innovation. The review was launched by Prime Minister David Cameron.
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Steve Morgan praises "inspirational" entrepreneurs
Business philanthropist Steve Morgan hailed this year's "inspirational" entrepreneurs as £110,000 in prizes were handed out at the 2010 Morgan Foundation Entrepreneur Awards. The awards recognised business brains from the North West, Liverpool, West Midlands and Wales.
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