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Top story
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Drax powers up profits
Selby-based coal-fired power station operator Drax has reported a surge in pre-tax profit as revenues hit £1.65bn for the year ended 31 December 2010. Its chief executive Dorothy Thompson said the Drax power station now generates about 7 per cent of the UK's renewable power.
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Deals
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£1.6m funding deal leads to Philidas growth
A £1.6m funding package has boosted growth at Pontefract-based manufacturer Philidas, the company has said. Leumi ABL has provided a £1.3m invoice discounting facility and £300,000 stock finance.
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Acquisitions are on the up, says Grant Thornton
More than a third of privately held businesses (PHBs) are planning to grow via acquisitions, according to Grant Thornton's latest international business report.
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Business
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Croda smashes through £1bn turnover level
Goole-based specialty chemicals business Croda International has reported "record results" having broken through the £1bn turnover mark for the firs time in its preliminary results to 31 December 2010. The company, which also had a boost in profits, said there has been "strong organic growth in all areas" and "further progress is expected in 2011".
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Profits up at Leeds Building Society
Leeds Building Society has announced a 5 per cent boost in operating profit to a record £84.5m for 2010. Pre-tax profit rose by 33 per cent to £42.2m from £31.7m in 2009.
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Halifax in £500m payout
Halifax has agreed to pay out £500m in compensation to 300,000 customers after admitting causing confusion about whether a cap on its standard variable rate mortgage applied ot them. The Halifax-based bank, which is part of Lloyds Banking Group, has reached a voluntary agreement with the Financial Services Authority to pay the redress.
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Optare wins £7.6m Arriva contract
Leeds-based coachbuilder Optare has secured orders worth £7.6m from Arriva for 69 single and double-deck buses for delivery during 2011.
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Miliband to address ABDN awards
Labour leader Ed Miliband will be the keynote speaker at ABDN’s 13th Annual Dinner & Business Awards. This year’s awards dinner, to be held at Saviles Hall, Royal Armouries, Leeds, will focus on the business theme ‘Aiming High’.
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Property
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Loan funds £5m Sheffield nursing home
A £5m nursing home scheme development in Sheffield has clinched funding. The Co-operative Bank is providing a loan to cover the entire cost of a 75-bed residential home for the elderly, specialising in dementia care, which is due to open in April 2011.
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Balfour Beatty signs up for Derby site
Sheffield-based Balfour Beatty Utility Solutions has signed up for a 25,000 sq ft letting in Derby. Birmingham-based developer St Modwen let the site at Hilton Business Park.
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Other News
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Yorkshire and Humber 'most equal region' on pay
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Graduate Internship Scheme should be saved, says FSB
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