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Top story
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"Outstanding" year at IQE
IQE, the computer chip technology company, has hailed 2010 as an "outstanding year" after revenue grew by 38 per cent to £72.7m. EBITDA at the Cardiff-based business was up 63 per cent to £13.1m in the year to 31 December 2010, while pre-tax profit tripled to £6.3m. IQE said the current year had started well and it was well positioned in a "wide range of fast growing global markets".
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Deals
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Dragons can create false hope, says investor
The Dragons’ Den TV show has given some entrepreneurs unrealistic expectations in raising equity finance, Wales’ latest private equity investor has warned. Mark Loosemore, partner at Mackintosh Capital, told Insider the firm planned to invest in two or three companies this year.
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Companies
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Soaring profit at Gocompare
A surge in brand awareness was a key driver for rocketing pre-tax profit at Gocompare, the price comparison site operator. The Newport-based business posted profit of £30.1m in the year to 31 December 2010, up from £12m in 2009, and increased turnover to £101.5m, a 35 per cent improvement on its 2009 performance.
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ACT to double after winning training work
ACT, the work-based training company, will double in size and create more than 100 jobs after landing a contract with the Assembly Government worth up to £19m per year.
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Admiral moves further ahead of profits fleet
Admiral Group, the insurer, has extended its lead as the most profitable company in Wales, according to the latest Profit 50 ranking in Insider magazine. The barrier to entry to the Profit 50 has risen to £4.4m from £3.5m, suggesting that Welsh companies, at the top at least, are making more money.
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Property and construction
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Direct Source expands at Taffs Well
Trophy distributor Direct Source UK has expanded after agreeing a letting at Taffs Well Industrial Estate near Cardiff.
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Government and politics
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TrawsCambria network extended
The existing TrawsCambria bus network is to be extended with new services and an investment of £2.2m in 12 vehicles. The Welsh Assembly Government said the move was the first step to creating an all Wales long distance bus network.
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Swansea Uni gets £15m for campus
Swansea University is to receive £15m funding from the Welsh Assembly Government for a science and innovation campus.
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Assembly to log off @Wales
Digital media business incubation centre @Wales in Cardiff Bay is to close following a review of its performance by the Welsh Assembly Government.
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