February 2017


Cost inflation concerns as Greggs sales hit £894m

Newcastle-based bakery and “food-on-the-go” retailer Greggs said its 2016 sales rose 7% to £894.2 million and pre-tax profit excluding exceptional items rose 10% to £80.3 million. However Greggs shares fell 3%…


Revenue up 36% to £256m at linen firm Johnson

Chesire-based workwear and linen rental company Johnson Service Group (JSG) said its 2016 revenue rose 36.4% to £256.7 million and profit before tax soared 49.7% to £25.9 million. JSG…



Moneysupermarket revenue up 12% to £316.4m

Shares of Chester-based price comparison website company Moneysupermarket.com fell about 5% after it said its revenues were currently behind last year amid low interest rates. The company said 2016…


Virgin Money profit up 41% to £194m in digital push

Newcastle and Edinburgh-based challenger bank Virgin Money said its 2016 statutory profit before tax increased 41% to £194.4 million and its gross mortgage lending grew 12% to £8.4 billion, giving it…


Drax bids for Texas and Louisiana pellet businesses

Selby, North Yorkshire-based power company Drax Group said it is “participating in separate processes” for the acquisition out of bankruptcy of the operating assets of Texas Pellets and Louisiana…




Boeing plans new £20m Sheffield plant

Boeing said it plans to open a new £20 million production facility in Sheffield to manufacture high-tech components for its next-generation 737, 737 MAX and 777 aircraft. Boeing…




Middlesbrough’s Fine Industries sold for £103m

Chinese life sciences company Lianhe Chemical Technology Company (Lianhetech) agreed to buy Middlesbrough-based chemicals manufacturer Fine Industries from Manchester-based private equity firm NorthEdge Capital and Fine Industries…


£126m for Royce Manchester research centre

The UK government’s business and energy secretary Greg Clark announced £229 million worth of investment in the development of cutting-edge advanced materials and a new…


Caunce succeeds CEO Roberts at Bolton’s AO World

Bolton-based online electrical retailer AO World said chief operating officer Steve Caunce would succeed company founder John Roberts as its CEO, effective immediately. Roberts, 43, who founded AO World in 2000 and…




Manchester’s McBride mulls sale of aerosols

Manchester-based McBride plc, the manufacturer of private label household and personal care products, said it was considering expressions of interest to acquire its aerosols business. McBride, which employs about 5,000 around…


Mercia wins £108m Northern Powerhouse mandates

Mercia Technologies plc, the investment firm that focuses on the UK regions, said it was successful in its bids, via its subsidiary Enterprise Ventures Limited, to manage two of the British…


Unite signs £41m Manchester Uni student flat deal

Unite Group plc said its Unite Students division, a developer of student accommodation, has exchanged contracts to acquire a development site near the University of Manchester for about £41 million on…



NCC shares plummet 40% amid latest turmoil

Shares of Manchester-based cyber security company NCC Group have fallen more than 40% since it issued a surprise trading update late on Tuesday, initiated a strategic review, and abruptly cancelled…



£50m order book boost for Utilitywise

Newcastle-based utility consultancy Utilitywise, which employs around 1,600 people, said in a trading update for the six months to January 31 that it “performed in line with management expectations…


Asda sales decline slows down

Leeds-based Asda, a subsidiary of US retail giant Walmart, said its comparable sales declined 2.9% in the fourth quarter ending December 31, excluding petrol. But the figures showed an…



Zenith to acquire CVL for HGV market access

Leeds-based car leasing and fleet management firm Zenith said its new owner Bridgepoint acquired Contract Vehicles Holdings Limited group (CVL) from its shareholders “as Zenith builds the…


Fishing Republic revenue to show 40% increase

Rotherham-based fishing tackle retailer Fishing Republic, which had an IPO in 2015, issued a trading update for the financial year to December 31 and said its website sales…





Unilever Rejects $143bn Kraft Heinz Offer

UK-Dutch consumer goods giant Unilever — owner of brands including Dove, Flora, Hellmans, PG Tips, Knorr and Persil — rejected a potential offer of around $143 billion from The Kraft…





Polyframe buys Customade to create £100m firm

Cairngorm Capital Partners LLP announced a further investment in its Halifax-based trade window and door manufacturer Polyframe Group to facilitate Polyframe’s acquisition of Gloucester-based Customade Group. Cairngorm said…




Manchester’s Second City Crossing tram to open

Transport for Greater Manchester (TfGM) said the Second City Crossing new tram line — the final piece in Manchester Metrolink’s £1.5 billion ‘big bang’ expansion programme —…


Hargreaves six-month revenue slips to £171m

Durham-based international coal distribution and industrial logistics firm Hargreaves Services plc said its reported revenue fell £3.9 million to £170.9 million in the six months…


Go-ahead for Sheffield’s £175m West Bar Square

Outline planning consent has been granted for the £175 million mixed-use West Bar Square development in Sheffield’s Riverside business district – the ambitious regeneration scheme that could create up…




Co-op Bank puts itself up for sale

The Co-operative Bank, rescued from near collapse by hedge funds in 2013, said it has put itself up for sale amid a neeed to build its capital…



Germany’s Erwin Hymer buys Consett’s Explorer

The Explorer Group, the Consett, County Durham-based manufacturer of motorhomes and caravans, is to be acquired by the Erwin Hymer Group of Germany. London-based investment company Constantine Group…




Man Utd expects £540m revenue; debt at £409m

Manchester United said its revenue rose 18% to £157.9 million in the three months to December 31, 2016, but its net debt jumped 27.1% to £409.3 million. It its outlook, the company…



Murrells to succeed Pennycook as Co-op CEO

The Co-op Group, based in Manchester, said Richard Pennycook is to step down as group CEO and will be succeeded by Steve Murrells, currently CEO of the Co-op’s food…


Luxembourg firm buys Royal Liver for £48m

Luxembourg-based Corestate Capital Holding S.A. said it acquired the iconic landmark Royal Liver Building, the Grade A office building in Liverpool, for £48 million. The Royal Liver Building is located…



Newcastle’s Bellway has £1.12bn order book

Shares of Newcastle-based house builder Bellway plc rose after it delivered a strong trading update for the six months ended January 31, 2017, and revealed its forward order book has a…


Directors buy Leeds’ Steeper Group from Dunedin

Leeds-based prosthetics and orthotics company Steeper Group has undergone a management buyout with two directors — CEO Paul Steeper and finance director John Midgley — acquiring the business from…



Kohler buys Merseyside’s Clarke Energy

Wisconsin-based Kohler Co. said its power group acquired Merseyside-based Clarke Energy Ltd., a multinational specialist in the engineering, construction, installation and maintenance of engine-based power plants. Knowsley-based…





ISS supports Sevcon against ‘dissident’ director

Nasdaq-listed Gateshead company Sevcon, which makes components for low carbon vehicles, said the influential Institutional Shareholder Services (ISS) recommended that Sevcon stockholders vote for all the incumbent directors who are…


NWF half-year revenue up 13.9% to £256m

Chesire-based NWF Group plc, the agricultural and distribution business that delivers feed, food and fuel across the UK, said half year revenue to November 30 was…


Newcastle’s Drummond Central acquires CoalFace

Newcastle-based marketing and communications agency Drummond Central said it acquired digital specialists CoalFace, also based in The Toon, to boost its digital business. Drummond Central said CoalFace’s nine-strong…


Supermarket pioneer Ken Morrison dies at 85

Ken Morrison, who built a small Bradford-based family business into the major UK grocery retailing chain Morrisons, has died aged 85. Morrisons chairman Andrew Higginson said: “I…