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Top story
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Redrow expects completions rise but eyes Scottish sale
Housebuilder Redrow this morning revealed it expects completions for the full year to be ahead of last year. Despite a "slow" first-half, Redrow said its average selling price has experienced a "healthy growth" predominantly because of a product shift to its New Heritage Collection. In a trading update to the Stock Exchange, the business added it intends to sell its underperforming Scottish business as it looks to boost the average selling price through an increased presence in London and the South East.
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Property and construction
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Swansea Marine Group relocates
Swansea Marine Group has relocated to a workshop adjacent to its former premises in Fish Market Quay on Swansea Marina and recruited two additional employees.
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Companies
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A Schulman returns to profit
Newport-based plastics manufacturer A Schulman is back in black with a pre-tax profit of £1.3m for the year to 31 August 2010. The business, which also reported increased turnover of £41.3m for the year, made a pre-tax loss of £139,000 in 2009.
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Golf tourism boosts sales at Castell Howell
Food distributor Castell Howell has reported a rise in demand for its produce from golf clubs in Wales, fuelled by the influx of golfing tourists. The value of golf tourism to Wales is now estimated at £41.9m, said to have been enhanced by the staging of last year's Ryder Cup at Celtic Manor.
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Harris Pye chalks up £100m in orders
The Harris Pye Group, headquartered in Barry, has said it achieved its "best-ever" order intake in excess of £100m during 2010. The company, which operates in 14 countries around the world, added that it had recorded its busiest ever first quarter in 2011.
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Small business confidence low in Wales - FSB
Confidence in Welsh small businesses is the second weakest in the UK, according to the Federation of Small Businesses.
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No sign of inflationary pay in manufacturing - EEF
One of the busiest periods of wage negotiations for manufacturing companies has passed with no sign of inflationary pay settlements, according to the latest figures from EEF.
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Top 300 Companies offer - ends soon...
You have just until the end of the week to take advantage of Insider's 10% discount off the brand new Wales Top 300 Companies 2011 database (released at the end of the month) - our accurate and comprehensive business marketing list, providing you with the strongest contacts for the region’s biggest companies. Pre-order now to receive the discount or request a free sample (offer expires 31st May).
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Election
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Four zone promise from Conservative Party
The Conservative Party has pledged to create at least four enterprise zones in Wales and set up a Welsh-based public-private partnership (PPP) scheme if it wins the Assembly elections. The party set a target of average wealth in Wales equalling UK levels by 2030.
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Labour mulls social railway move
Labour will consider giving the Wales and Border rail franchise, currently held by Arriva, to a company run on a not-for-profit basis if elected in May. And the party has hinted it would broaden economic support beyond the six key sectors identified in last year’s economic renewal programme.
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