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Top story
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House building scheme no use, says Morgan
Steve Morgan, the chairman of housebuilder Redrow, this morning hit out at the UK government’s New Homes Bonus scheme, saying it was unlikely to prompt councils to approve more homes. He said: “We are increasingly being met by a reduction in planned numbers for new homes and grossly unrealistic expectations of what we are expected to deliver in the way of planning gain.” Despite this, Flintshire-based Redrow made a £8.5m pre-tax profit in the six months to December, compared to a £8.7m loss in the same period a year earlier, on revenues which grew to £216.1m from £187.2m.
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Companies
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Aircraft spares group invests in Merthyr
AJ Walter Aviation, the international air component supplier, is to set up its new aircraft engine services division in Merthyr Tydfil.
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Tasty profits rise at Global Foods
Pre-tax profit at Cardiff-based cash and carry business Global Foods almost doubled to £1.65m during the year ended April 2010 after a 24 per cent increase in sales. Turnover at the business rose from £89.9m in 2009 to £111.8m for 2010.
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Swiss high flyers to touch down in Wales
A delegation of Swiss travel sector specialists, industrialists and event organisers will land in Wales next month in an effort to build business links between the two countries. The tour, which will be between 30 and 50 strong, is being organised by Cardiff Airport, the promotional agency Cardiff & Co, and Helvetic Airways.
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Triax UK turns up the growth
Triax UK, a multimedia systems business based in Treorchy, Rhondda, hailed a "successful year in difficult trading conditions" after growing turnover from £11.8m to £13.7m during the year to 30 April 2010. Pre-tax profit almost doubled from £931,730 in 2009 to £1.8m in 2010.
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Tideland Signal wins Gwynt y Môr contract
RWE NPower Renewables has awarded a navigation lighting contract for Gwynt y Môr Offshore Wind Farm off the North Wales coast to Tideland Signal.
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Government and politics
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Newport Uni to lead Valleys jobs drive
The University of Wales, Newport, is to lead an £8m initiative to improve the skills and job prospects of 6,000 people in the Valleys areas of Blaenau Gwent, Torfaen and Caerphilly.
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Swansea lines up city centre improvements
Swansea Council's cabinet will today discuss plans to refurbish the city centre, create jobs and boost local companies as part of its capital investment programme.
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People
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Sector panel teams revealed
The Assembly Government has unveiled the sector panels which will advise on opportunities in its six priority industries. The panel chairmen will include Gareth Jenkins, managing director of FSG Tool & Die; Chris Nott, senior partner of Capital Law; and biotechnology entrepreneur Sir Christopher Evans.
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