LDP Business Magazine - 11th May 2011 by Liverpool Post & Echo

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FTSE-100

6018.8 ▲ 76.2

THE London market was boosted yesterday by a winning combination of strong Chinese trade data, hopes of a deal to solve Greece’s debt crisis and solid earnings reports. The FTSE 100 Index closed higher to 6018.8 after banking stocks were boosted by a report which indicated Greece was to receive a fresh round of aid to combat its debt mountain.

MARKET REPORT: PAGE 15

Metquarter loses out as designer shops quit EXCLUSIVE by Alex Turner

LDP BUSINESS STAFF

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DESIGNER shopping centre Metquarter has suffered a huge fall in occupancy as major high street names have either left town or relocated to rival retail developments in Liverpool city centre. Cafe Rouge has become the latest tenant to seek a way out of its lease. The restaurant’s owner Tragus Group

has this week launched a search for a buyer for the French style brasserie’s lease as part of a package of disposals of poorly trading units. Tragus said its restaurant in the Metquarter was “no longer considered suitable” for the Cafe Rouge brand. Although it will continue trading, the move will come as a blow to the centre which has struggled to maintain levels of occupancy throughout the recession and the onslaught of competition from Liverpool One. Currently, 11 of its 48 units are vacant, while for some time fashion

retailer Aspecto has been looking to find someone to take on its lease. However, Metquarter centre manager Jennina O’Neill does not believe there is a need to panic, and a patient approach will reap rewards. She said: “Metquarter does have some vacancies at present, although we expect to be shortly in a position to announce exciting new retailers and with the brands that appeal to our customers. “In other words, we won’t let the space to just anyone for the sake of it and have to accept that some deals take time to close.

“This is particularly the case with big name players operating nationally where we have to take time convincing them to make a move to Liverpool and be exclusive to Metquarter. “That said, we are in talks with a number of very interesting brands – some of these negotiations look promising but we are acutely aware that the climate is tough and we have to work really hard to get the results we want.” The Metquarter’s vacant units are concentrated at the Victoria Street end

inside

Holidays help airport to a record April

Record deal for Heatons

Nicola Humphray – director of furniture at Heatons, in Birkenhead

BANK holidays and late Easter encourage passengers to fly from Liverpool John Lennon Airport. PAGE 2

OFFICE furniture supplier Heatons has landed the biggest contract in its history. The Birkenhead firm, founded in 1986, won a £240,000 contract with workwear firm Alexandra to provide interior design, layout and furniture planning services at its Bristol base. It follows other contract wins for Heatons, including one to create a refectory area at Neston High School. Heatons’ director of furniture, Nicola Humphray, said: “We have had a hugely intensive three months.”

Bank summit SMALL business owners in Merseyside will today question leading bankers. PAGE 4

Retail drive THE new MD of John Lewis’s Liverpool store wants to boost the city’s retail sector. PAGE 5

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Lease breaks cause concern CONTINUED FROM PAGE 1 of the centre, where Cafe Rouge occupies a key location at the entrance. At the start of the recession, in September, 2008, the development was almost full. But it lost its largest tenant, Flannels, at the end of 2009, which occupied 17,500 sq ft and has remained empty for the last 18 months. Whistles, Hobbs and Coast have also left – along with Flannels, they all now have outlets in Liverpool One – while other brands including Storm and Kate Kuba have shut. Other retailers, such as All White 3000, have opened and closed in that time. Liverpool City Council’s recent retail strategy document said one of the challenges it faced was “securing the future of the Metquarter in light of upcoming lease breaks – the risk of high vacancy rates in the Metquarter is likely to be one of the biggest short/medium term challenges for the main retail area”. Ms O’Neill highlighted a couple of recent successes so far this year. “The nature of the retail market currently means that it is inevitable that some stores will close or move.”

■ BILL GLEESON: Page 8; ■ OPINION – Main paper: Page 15

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JLA passenger numbers soar to April record level by Alex Turner

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LIVERPOOL John Lennon Airport (JLA) enjoyed a record April as the late Easter, staggered school holidays and the Royal Wedding bank holiday encouraged people to fly away. Last month, 490,831 passengers used JLA, more than 40,000 more than the previous best, which was achieved in 2007. It showed an increase of more than 120,000 people on last year, when volcanic ash closed UK airspace for several days. Robin Tudor, head of PR for Peel Airports, said: “Over the Easter, Royal Wedding and May Bank Holiday period alone, almost 200,000 passengers chose to travel via the airport. It’s a pity a late Easter and a Royal Wedding doesn’t happen every year. “We knew passenger numbers this April would be significantly higher than last year, having seen over 100,000 passengers affected by the Icelandic volcano in April, 2010; however, this year’s bumper April holiday period saw volumes of passengers surpass even our expectations.” The period from Good Friday to May Day saw four bank holidays in an 11-day period which encouraged holidaymakers. Also the late Easter resulted in some local authorities moving the school holidays to earlier in the month, resulting in the airport having four weeks of school holiday traffic. The bumper month increased its year-to-date total to 1.54m, which is ahead of the previous two years. The airport’s management is forecasting the improvements to continue, with routes to a range of destinations across Europe expected to increase traffic to its highest annual total since Liverpool’s year as Capital of Culture in 2008.

More than 490,000 people used John Lennon Airport in April Then, 5.36m people travelled to or from the airport, but the economic downturn prevented JLA building on the momentum from the city’s year in the spotlight. Passenger numbers fell to 4.95m the

following year, before improving slightly to 5.08m in 2010. Last June, Peel Group sold 65% of Peel Airports – of which JLA accounts for a large majority – to Canadian group Vancouver Airport Services

Photo: PAUL HEAPS / ph230211airport-11

(VAS) for £110m. VAS has said it is looking to increase passenger numbers and the revenues generated from passengers using the airport and its facilities, which were extended last year.

Stelios calls on Easyjet board to return cash pile to shareholders BUDGET airline Easyjet reported a near-doubling of first-half losses yesterday as it battled higher fuel prices and challenging consumer conditions. Pre-tax losses increased 94% to £153m, in the six months to March 31, after the latest surge in the price

of aviation fuel cost £43m and it absorbed an increase in air passenger duty. At the same time, company founder and largest shareholder, Sir Stelios HajiIoannou, criticised the airline for holding cash balances of £1.4bn. Sir Stelios said: "This cash

pile is about £600m over and above the board mandated policy of holding £4m per aircraft, that is circa £800m. I think shareholders would be better off if the board returned this surplus cash to them, so they can invest it in other businesses." Passenger numbers

increased 12%, to 23.9m, despite the disruption from the snow in December, which caused the widespread cancellation of flights. Easyjet is the second-biggest airline at Liverpool John Lennon Airport by passenger numbers. Chief executive Carolyn

McCall said: “The past six months has been tough with sharply rising fuel costs combined with cautious behaviour by consumers and an adverse impact from taxes on passengers.” She warned that further fuel price increases could force up air fares.

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Rubbishbagofpropsshowsthere’s still cash to be made from trash

Bill Shaw, left, talks to Environmental Waste Controls employee Kelly Richardson

Alistair Houghton meets BILL SHAW, CEO of Environmental Waste Controls, in Knowsley IT’S not often that you can impress a roomful of investors by dropping a bag of rubbish on their table. But that’s how Bill Shaw is launching Environmental Waste Controls (EWC) on the stock market. Knowsley-based EWC is proving the old saying that “where there’s muck, there’s brass”. It turns over more than £23m from the waste management services it offers to councils and businesses across the UK. Now it plans to float on London’s Alternative Investment Market to raise £4m to further growth plans Shaw describes as “aggressive”. Shaw, who became EWC’s chief executive last year, is this week meeting potential investors in London. And to showcase what the company does, he carries a “bag of props” containing a piece of used copper wire, a scrap of fabric and a chunk of plastic. He is telling investors how EWC plans to invest in larger recycling sites to sort the waste it collects so it can make more money from it. “One thing I’ve learned since being involved in this company,” he says, “is that there is value in waste. I’m almost convinced there’s no such thing as waste. “More and more, every waste product can be turned into a resource. It’s just a question of how difficult it is to do that.” EWC operates 30 household waste recycling centres for local authorities in seven areas, including Warrington. Its commercial arm collects and

sorts waste from 300 UK firms. In the year to last August, EWC posted sales of £23.8m, with a pre-tax profit of £2.1m. But Shaw and the management team have ambitious plans to grow sales to £40m and beyond. The key, he says, is opening more large Material Recycling Facilities (MRF) centres, to give EWC staff room to sort waste before selling it to other recycling firms. And, to demonstrate that point, Shaw brings out the props bag. “Copper wire is a good example of adding value,” says Shaw, brandishing a piece of wire encased in yellow and green plastic. “If an electrician does a rewire at your house, you’re left with half a reel of cable. It sits in your garage, then you find it four years later and throw it in a skip. “We could bale that wire and sell it to a commodities dealer for £1,800 a tonne. But if we get a plastic stripper and strip off the coating, you’re talking £5,500 a tonne for the copper, and £200 a tonne for the plastic.”

q&a Age: 54 Biggest achievement in business: Becoming a director of a company as prominent as United Utilities Biggest regret: Not picking my season ticket up at Goodison Park until five years ago, having let it lapse for 20 years Best advice received: A previous boss asked me if I was going to apply for a job which would have been a significant promotion. I said I didn’t think I’d get it. He said ‘It’s not your role in life to draw up the shortlist for a job you’re about to apply for’

Shaw next pulls out a piece of card, and says: “Typically, unbaled, we could sell this for £30 a tonne. Simply bale it, and it’s £130 a tonne.” Next comes a piece of cloth. Shaw says that by sorting clothing, rather than simply baling it all together, it can be sold at higher prices. Finally, Shaw pulls a piece of plastic from his props bag. “Baled, this is worth £200 a tonne,” he says. “But, if we have the space to operate in, we can granulate it. “It ceases to be waste and becomes a raw material, and we can sell it back to the plastic moulders who made it in the first place. And it goes from £200 to £800 a tonne.” EWC already has MRFs – Shaw pronounces that “merfs” – in Knowsley, Neath Port Talbot and London. By the end of this year, it hopes to have opened sites in London, Leicester and East Kilbride, near Glasgow. Shaw says EWC may consider opening an MRF in the West Midlands – a densely-populated area with a shortage of recycling sites. To open these MRFs, EWC needs cash – hence its aim for AIM status. But there are, says Shaw, other advantages to flotation. “The funds will help,” he says. “They will clear most of our debt. “There’s also a kudos attached to being listed. “We have our eye on some tactical bolt-on acquisitions. Being able to offer shares will help with that. “And being able to offer shares help us to retain the staff we have now and attract those will need in the future. “Our founder, Bill Edwards, has always had the ambition to float the business at some point. Now we feel the time is right.” Edwards founded EWC in 1993 and

still owns the firm. He has now stepped back from day-to-day management at the firm, but will retain a large stake after it has floated. Shaw says: “For me, he’s a great sounding board. It’s useful to have someone like Bill to call on. “We have an aggressive business plan. We plan to do £24m this year, then £28m next year, then £35m, then £40m. It excites me, Bill and the rest of the team.” Evertonian Shaw is a chartered chemist who joined the North West Water Authority – now United Utilities (UU) – 35 years ago. By the time he left UU last year he was its operations director, leading the provision of water and waste water services. Three years ago, Shaw decided to gain new experience by taking on another directorship – and joined the board of EWC. He says: “I got the benefit of working with Bill Edwards, an entrepreneur, at an organisation that is a lot smaller and more nimble than a necessarily bureaucratic organisation such as UU.” Shaw retired from UU last March and joined EWC as part-time chief executive. He says: “I worked for three days a week until July, but it became obvious that if we were going to take the business to the next level, we couldn’t do it with a part-time chief executive.” Shaw says the demand for recycling services will continue to grow as the Government continues its push to reduce the amount of waste going to landfill and as more and more green regulations are introduced. But, he says, members of the public are also keen to do their bit. “If people go to our civic amenity sites,” he says, “the first thing they see is a meeter and greeter, who helps them to recycle.

“But if you take a step back, you’ll see it’s the members of the public that do all the work. Our guys are there to educate and direct people, but it’s the members of the public who go from receptacle to receptacle, getting stuff out of their car boots. We cannot make them do it – they want to do it.” Shaw is also confident that EWC can win more local authority contracts based on its track record. “We have 13 sites for Leicestershire County Council,” he says. “When we took over the contract, the recycling rate for those centres was 39%. Three years later, it was 74%. That saves the council £1.4m a year in landfill costs.” And EWC is still thinking of new ways to make money from the waste it already processes. One idea is to start reconditioning the many televisions dumped at its sites, so they can be sold abroad. And another venture will surely interest the bargain-hunters of Knowsley. Shaw says: “We end up with thousands of items of bric-a-brac at our civic amenity sites – such as pictures and ornaments. “So we take a lot of that bric-a-brac to an auction that we run in Leeds. We turn over £40,000 a month from that auction. We plan to open another auction house in Merseyside. We’ll house it somewhere in Knowsley. It’s a way of driving value from waste.” Shaw, who lives in Warrington, is a keen golfer. But he expects that working at EWC will keep him away from the golf course for some time yet. “This business is exciting for me because I really believe in it,” he says. “I will be investing in this organisation. I believe in the team and I believe in the sector.”

Wednesday, May 11, 2011

LDP business .co.uk A tough March for hotels HOTELS in the North West are continuing to struggle in the economic climate, according to figures from accountants PKF. In March, the room rate in Liverpool’s hotels fell 5.5% to £67.40, while occupancy rates fell 4.3% to 68.2%. This resulted in a rooms yield of £45.97, a drop of 9.6% from £50.84. In Chester, the room rate increased in the city by 1.2% from £60.60 in March last year, to £61.33 in January this year. Room occupancy fell to 63.4% while rooms yield dropped 2.2% to £38.88. In Manchester, room rate decreased 0.2% from £75.44 last year to £75.30 this year. Room occupancy decreased 0.7% from 75.7% in 2010 to 75.1% this year. Overall, this meant a rooms yield decrease of 0.9%, from £57.07 to £56.55.

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Stars to go Gaga for events firm’s food showcase

Lady Gaga is among the stars who will be served Cumbrian food by Liverpools’ SK Events

Picture: JASON ROBERTS

EVENTS management firm SK Events will this weekend promote North West food and drink to some of the music world’s biggest stars – including Lady Gaga. Liverpool-based SK, which organises the annual Taste Cumbria Food Festival, will be serving up Cumbrian produce to performers and crew at Radio One’s Big Weekend in Carlisle. The stars, who also include the Black Eyed Peas, will dine in a yurt backstage at the festival’s VIP area. The food will be prepared by chefs from the Michelin-starred restaurant at the von Essen Group’s Sharrow Bay hotel, in the Lake District. SK director, Denise Harris, said: “We are thrilled to have been able to link together some of the nation’s best food producers and high-calibre chefs with such a massive event on the music calendar. “Bringing the Taste Cumbria brand to this event is very exciting for everyone involved, and we cannot wait to see what the world’s biggest musicians think of what we have to offer.”

Banks to face Mersey SMEs by Tony McDonough

LDP DEPUTY BUSINESS EDITOR tony.mcdonough@liverpool.com

When exceptional people come together, great things happen. When Weightmans and Mace & Jones merged to become one ﬁrm on 1 May something special developed. Weightmans and Mace & Jones. Together we are stronger. Find out more at www.weightmans.com

SMALL business owners from across Merseyside will today come face-to-face with the UK’s biggest banks and get to question them directly about lending. Liverpool Chamber of Commerce is hosting a free half-day roadshow which will see the chief executive of the British Bankers’ Association, Angela Knight, address business owners directly. The Better Business Finance event will also be attended by representatives of Barclays, HSBC, Royal Bank of Scotland, Lloyds and Santander. Speaking to LDP Business ahead of the roadshow, Ms Knight admitted the banks had “made mistakes”, but insisted they were prepared to work with and help small firms. “We are not perfect and we don’t pretend otherwise,” she said. “But 80% of applications for funding are being granted and businesses are paying back loans at a greater rate than ever before. “One of the questions that we need an answer to is whether the issue is about supply or demand. “We are going to pay for some proper surveys to look at this, and we will be speaking to 5,000 businesses every quarter. We hope to release the first figures end of June or start of July.” Today’s event, which will be attended by more than 90 small firms, will seek to ensure businesses understand how lending decisions are made, what sources of finance are available, how to write clear funding applications and how the appeals process works if an

Angela Knight, of the BBA application to borrow is turned down. Jack Stopforth, chief executive of Liverpool Chamber, said: “We see the banks coming to Liverpool as an excellent opportunity for small businesses in the area. “There is a lot of help available, but it can often be difficult to digest all of the information. “We’re encouraging any small business in the area looking for support to come along and speak to representatives from the banks directly.”

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Capita denies public sector order book is drying up OUTSOURCING giant Capita has dismissed suggestions its market is drying up due to spending cutbacks, saying demand is now rising both from local and central government, while private sector business is buoyant. The firm, which administers the Liverpool-based Criminal Records Bureau and the

collection of the licence fee for the BBC, said: “The market for outsourcing has become more active following a quiet 2009 and 2010.” Local government and defence are the strongest public sector markets, with the “the number of new tenders across our areas of expertise now at the levels enjoyed

prior to the May, 2010, elections and the public sector spending freeze,” it said. Chief executive Paul Pindar said the last four weeks had seen a pick-up in the amount of public sector work going out to tender, a reversal of the trend only six months ago when it said the cutbacks had hit it harder than expected.

Capita still cautioned that revenues growth in the first half of this financial year will be “modest”, but that progress after that should be better, especially as several big orders potentially could come through. This includes a re-bid for the BBC licence fee deal and contracts for army recruit-

SMEs get free invite to seminar

ment and with Edinburgh City Council. The Government’s plans for public services are due in June, in a White Paper delayed from February. Recent reports had suggested the Government might rein back the amount of business it hands over to outsourcing companies.

SMALL and mediumsized manufacturing firms are invited to a free business conference by the regional office of the Government-backed Manufacturing Advisory Service (MAS). Elevating Excellence will take place on June 16 at Manchester United FC’s Old Trafford stadium, and will consider the two themes of quality and continuous skills improvement, which have been based on industry feedback to MAS during the year. A panel of industrialists and key-note speakers includes Richard Else, plant director of Jaguar Land Rover’s Halewood site. Delegates will hear how to drive order books, reduce operational costs and position themselves for future growth. They will also have the opportunity to meet potential new customers and suppliers, learn about innovations to transform their businesses, as well as learn about sources of practical support. The event will begin with an 8.30am early morning speed networking session, which proved a hit with attendees last year, and factory tours of key north west sites are being arranged for the following day. ■ TO REGISTER, visit http://journey9. co.uk/MAS

John Lewis looks to add to city’s wide retail appeal by Alex Turner

LDP BUSINESS STAFF

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THE newly-appointed managing director of John Lewis’s Liverpool One store is determined to use the retailer’s brand to help drive the profile of the city’s retail sector. Dan Cooke has started at the department store after a career that has taken in Debenhams, Peacocks – where he was area director for Merseyside – and most recently Blacks Leisure. “John Lewis is a key store for Liverpool,” said Mr Cooke. “It’s a big department store so it should be a destination, but it also needs to be fully integrated within Liverpool One. “Liverpool One’s management seems to be forward-thinking – we will be looking at how we can help each other.” He added: “The transformation of the city over the past few years and the relocation of John Lewis to Liverpool One have established the city’s reputation as a world class shopping destination. I am proud to be joining it.” Mr Cooke takes charge during a tricky period of trading at the retailer, which is often described as a bellwether of middle-class spending.

Its Liverpool One store has had three consecutive quarters of like-for-like sales falls, with sluggish sales since October resulting in just seven of the last 31 weeks showing an improvement. Despite the store having been open for three years, trading patterns have been slow to emerge with significant upward or downward pressure on sales arising from Capital of Culture year, the credit crunch-turned-recession and public spending cuts. He said: “Everyone recognises it was going to be a challenging year but it’s too early to say where we are going to be later in the year. ‘Cautious’ is the right word to use, you can’t rest on your laurels.” Mr Cooke’s appointment was welcomed by David Barford, John Lewis’s director of selling operations. He said: “We’re always delighted when our Partners take on new challenges and I’ve no doubt Dan will excel in this role. “His years of retail experience and outstanding record of achievement prior to joining John Lewis will bring fresh ideas and perspectives to the role, making him ideally suited to leading and growing our business in Liverpool.”

New John Lewis Liverpool MD, Dan Cooke

Liverpool to host conference to promote social enterprise LIVERPOOL will host a major national conference next week to promote franchising as a way of expanding the social enterprise sector. Shared Growth is being staged at St George’s Hall on May 17, featuring a range of speakers and workshops to explain the benefits of replicating and licensing social businesses.

Experts will include Agnieszka LewonowskaBanach, the manager of a franchised Le Mat hotel in Krakow, Poland, called U Pana Cogito; Robbie Davison, from Can Cook, in Liverpool; and Guy Turnbull, from Care and Share Associates. Organiser Val Jones, from Social Enterprise North West, said: “Most people in

£99

Picture: COLIN LANE/ tmcl100511 johnlewis-5

business are looking for the next big idea, but sometimes that’s not the best route to take. There are already business models out there that could be franchised and replicated. “The benefit is that they have a proven track record in success which, for a social enterprise, is particularly important.”

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A Strictly unmissable gala awards evening by Bill Gleeson

LDP BUSINESS EDITOR bill.gleeson@liverpool.com

IF YOU want to be at this year’s Liverpool Daily Post Regional Business Awards, you need to act quickly. Around 500 guests are expected to attend the glittering, black tie awards dinner, which will take place at Liverpool Anglican Cathedral next month. Television celebrity John Sergeant will be hosting the event on behalf of the Liverpool Daily Post, a title he used to work for as a young reporter. Mr Sergeant has previously worked as a politics reporter for the BBC and ITN, and famously withdrew from the 2008 Strictly Come Dancing after a storm of protests about his success in the competition. The winners of nine award categories will be unveiled on the night, which takes place on Thursday, June 23. Among the categories is the DLA

Piper Business Person on the Year award. This is awarded to an individual who has made a major contribution to his or her business and the reputation of the region as a whole. Past winners of this prize include Steve O’Connor, of Stobart, and Sir Michael Bibby, of Bibby Line Group. Another award, known as the O2 Judges’ Award, is made to a business seen by the judges as demonstrating an extra spark of entrepreneurial spirit during the year. No shortlist is drawn up for either of these two categories. A shortlist for five of the categories was published last week and is available on our website, www.ldpbusiness.co.uk. The shortlist for the remaining categories will be published next week. Daily Post editor Mark Thomas said: “This is a prestigious, not-tobe-missed occasion that offers a fabulous networking opportunity and great entertainment.” ■ TO BOOK places at this year’s event, please call 0151 472 2422. Single places cost £95 plus VAT. A table of ten is £950 plus VAT.

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Zombies taking longer to recover

Broadcaster John Sergeant – hosting this year’s business awards ceremony next month

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ZOMBIE businesses are in the banks’ intensive care units for twice as long as two years ago, and are at serious risk from any interest rate rise, according to a KPMG survey of 400 bankers across the North. Zombie companies are those that are just surviving but have little room for manoeuvre in the event of any further downturn or any one-off cash issues. They typically have significant levels of debt, an,d though able to cover their current interest payments, are likely to struggle to repay the capital. Brian Green, of KPMG, said: “There has undoubtedly been an increase in the number of Northern businesses that are in a zombie state, with the scale of the problem growing.”

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Mobile phones are revolutionising the way we do business

Matt Johnson THE way we interact with technology is constantly changing, with new technologies having an impact on every aspect of our daily lives.

Technological advances in recent times have given us the ability to view stunning hi-definition and 3-D television from the comfort of our own homes, unimaginable to most people only a few years ago. Similarly, it’s not so long since the idea of real-time news updates would have been impossible, but social networking sites such as Twitter have revolutionised the way we receive our news. An example being this week’s revelations on Twitter about which celebrities have been taking out injunctions. And it’s not just our newsgathering that’s affected by changing technology.

The mobile landscape, in particular, is constantly in flux, with new ideas and innovations occurring every day and changing the way we view and use our mobile phones. The age of the mobile phone as a device for just making phone calls has long gone. Increasingly, our mobiles are used in all aspects of our lives. This week has seen the launch of JustTextGiving by Vodafone, in partnership with JustGiving. This new scheme will make it easier than ever for consumers to be generous, allowing

them to donate directly from their mobile phone. In the recent past, charity giants such as Comic Relief and Children In Need have been able to make excellent use of text giving, but prohibitive set-up costs have been a barrier to smaller charities. But JustTextGiving requires no set-up fees for the charities involved, and the entirety of the sum donated goes to the charity, meaning that organisations from all corners of the charitable sector can benefit. And with almost 90% of UK adults

‘The age of just making calls has long gone’

now owning a mobile phone, the ease in which text-based giving can be done will encourage more and more people to donate on the spot. The ways in which businesses can use this impressive consumer mobile usage to generate revenue are many and varied. Think-tanks estimate text donations could be worth £96m a year by 2014. With that in mind, many business owners should consider how they can integrate consumer mobile usage into their own businesses. ■ MATT JOHNSON is chief executive of Mando Group

Rebranded Mersey haulier issues ‘green’ pledge A SEFTON haulier that has announced a rebranding has vowed to put the environment at the heart of every decision it takes. Abbey Road Tanks, which employs 250 people from its Bootle base, is now called Abbey Logistics Group. The change reflects the way the company has diversified from its core business of transporting raw food ingredients, such as liquid chocolate, to manufacturers such as Burton’s Biscuits. Today, the company also offers powder distribution and pallet transport services. Managing director Steve Granite said: “In addition to a change in name, Abbey has adjusted its strategy and vision to make our environmental impact a much higher issue on the company’s agenda. “While we have made great strides to reduce our carbon footprint in the past 18 months, we now feel it is time that the environment took centre stage in everything we do.” Mr Granite said the company plans to launch a 30-point environmental action plan in June.

A new-look tanker at Abbey Logistics Group, formerly Abbey Road Tanks

Lukewarm response to JLR’s £1bn debt scheme by Bill Gleeson

LDP BUSINESS EDITOR bill.gleeson@liverpool.com

JAGUAR Landrover’s (JLR) plan to raise £1bn to refinance its balance sheet debts has been given a lukewarm reception by two leading credit ratings agencies. JLR wants to refinance existing debt and repay preference shares by issuing £1bn of senior unsecured notes. However, Standard & Poor’s (S&P) and Moody’s have both rated given the new debt a sub-prime rating. In a statement, S&P said: “Based on our criteria, we assess JLR’s financial

risk profile as aggressive and its business risk profile as weak.” Rival credit rating agency Moody’s assigned a B1 rating to JLR’s proposed new loan notes. JLR will this summer launch its new Range Rover Evoque, which will be built at its Halewood factory, near Liverpool. The project has resulted in the recruitment of 1,500 extra employees. S&P said it was assigning a preliminary “B+” corporate credit rating to JLR, factoring in some support from 100% owner Tata Motors. Despite the poor rating, S&P described the outlook for JLR as

“stable”. JLR generates about 60% of Indian-based Tata Motors consolidated revenues and 66% of its consolidated operating profits in the nine months to last December. Tata bought JLR from Ford in 2008 for $2.3bn. The acquisition was initially loss making. Tata had at the time launched a $3bn loan to fund the purchase. The unit has seen a turnaround in its trading fortunes in the last few quarters, and posted profits of 19.58bn rupees for the three months ended December. Last Friday, the firm said it was seeking a partner in the fast-growing

Chinese market as it ploughs more than £5bn into developing new vehicles over the next five years. Earlier this week, there were reports that the car maker has held talks with the British government about financial support for bringing a new £750m engine plant to the UK. The reports claimed senior management from JLR Tata Motors met officials from the Department of Business Innovation and Skills last Thursday. JLR has identified three potential areas to base the plant. They are Wolverhampton, South Wales and a site in India, with Wolverhampton the front runner.

Facebook ban for 50% of workers HALF of workers have been banned by their employers from using Facebook and other social network sites in their offices, according to a report today. A survey of more than 2,000 employees for computer services provider HCL Technologies found that many bosses feared their business reputation was at stake by staff using social networking sites. Chief executive Vineet Nayar said: “It is quite remarkable that, in this day and age, many employers are still putting their employees’ interests as a low priority by not allowing them to use sites like Facebook. “While we always advocate responsible use of social networks in the office, banning them outright will impact employees’ approach to work in a negative way, having a detrimental effect on the business as a whole.”

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Wednesday, May 11, 2011

LDP business .co.uk Bill Gleeson Royal Liver must migrate to more southerly climes ROYAL Liver’s membership will in the next 48 hours vote on a board proposal to consign the mutual to the history books by merging with rival Royal London. For more than 160 years, the life assurer has played a major role in the economic history of the city from which it took its name. Its head office, the Royal Liver Building, has become an icon, as have the mythical birds atop it. The votes are to be cast at the Royal Liver’s marathon four-day (161st and probably last) annual general meeting, taking place this year at St George’s Hall. Yesterday, 200 delegates representing 900,000 members spent all day discussing the annual report and accounts. I once attended Shell’s AGM. Despite the fact the oil company is much bigger, its AGM took just two hours from start to finish, including the bit when the police arrested the anarchists. Today, Royal Liver’s delegates will debate voting procedures, then tomorrow they will actually vote. Goodness knows what they plan to do with Friday. It all begs the question who has got the time to spend four days at an AGM? It gives the impression of an organisation hidebound in tradition and arcane, archaic governance processes; in other words, an institution unlikely to modernise and face up to today’s ruthlessly competitive and fast-moving world of financial services. Over the past 10 years, Royal Liver’s performance has been one of marginal profitability. On the other hand, while Royal Liver hasn’t been very profitable, it hasn’t been a financial disaster either – you couldn’t lump it in the same category as Equitable Life. It could, in all probability, limp on for many years yet, but management have decided it’s time to throw in the towel. Three factors have come together to work

against it. A failure to compete in the market place has been matched by volatile investment markets and ever tighter regulations governing the solvency of financial service providers. The goal posts have been moved. These days, an increasingly financially sophisticated consumer market place is more interested in which savings and investment products give the best returns, rather than the principle of mutuality. The mutual principle served a wonderful purpose in past times, but we are no longer so anxious about saving to ensure a dignified funeral as poor Victorian Liverpudlians once were. The board has a duty to conduct the business of the society along prudent lines. Weak investment returns and a decision to close the life book to new members effectively pulls the rug from under the business model. A lack of new members means lower revenues, which in turn makes the maintenance of a significant overhead at head office unsustainable. As a consequence, there is only one rational outcome to tomorrow’s vote, Royal Liver must cease to exist. THE Metquarter stole a march on Liverpool One, opening two years before the £1bn development. The phrase credit crunch hadn’t been coined and the Whitechapel shopping centre filled up with tenants. Now, retailers like Flannels, Hobbs, Coast and Whistles have quit the Metquarter in favour of the much bigger Liverpool One, which has proper anchor tenants drawing in the crowds. As a result, the Metquarter is now 25% unlet. Yet, just 200 yards away, Forever 21 is taking space at the junction of Church Street and Whitechapel. It’s a short distance, but it will make a big difference to footfall.

Bid to improve

The creation of a business improvement district is being put to a vote. Alex Turner finds out more THE commercial district could benefit from investment of more than £2.7m in the next five years – if its businesses vote to fund a business improvement district (BID). Ballot papers are now with the 800-plus businesses which would be called upon to fund the plans and they will be submitting their ayes or nays in the coming weeks before voting closes on May 27. The vote is being managed by the Electoral Reform Society and the decision is due to be announced three days later, with the BID pencilled in to begin almost immediately. All businesses with a rateable value of £10,000 or more are eligible to vote on whether to accept a levy equivalent to 1% of rateable value. Smaller companies, who will not be charged the levy, are not being balloted. The annual revenues raised by the levy would be more than £550,000, which cannot be used to fund statutory council services, but only “to add value to businesses in the area through additional services or activity beyond the remit of the public sector”. To come into effect, the BID – which would replace the existing, voluntary Liverpool Commercial District Partnership – needs to gain a majority of votes and also a majority of the aggregate rateable value of those voting. The proposed BID area boundaries are formed by King Edward Street and Leeds Street in the north, Pall Mall, Moorfields and Stanley Street in the east, Lord Street and James Street in the south, and New Quay and The Strand in the west. It will look to match the success of City Central BID, which covers the main retail area in the city centre, apart from Liverpool One. That is generally seen as having had a very positive effect on the streetscape, from events and marketing initiatives to additional street cleaning and creating a safer environment. The application for BID status has been led by Liverpool Commercial District Partnership. That has £125,000 allocated to capital projects – which is expected to be mostly matched by public sector funding – with a further £50,000 on events. £60,000 will be spent on operations while marketing activities will get £70,000. The BID’s overheads are budgeted at £150,000, with the balance going on inward investment support, transport and access, and contingency. Paul Rice, chief executive of Liverpool CDP, said: “Research across the world, not just in the UK, voluntary partnerships or those run on voluntary contributions follow similar patterns.They are started off with enthusiasm but after a few years you tend to get a plateau and it can then fall away. “Those that have been paying are faced with the dilemma that they are paying but others are getting something for nothing. “It was that situation that was being seen in town and city centres across the UK that led people to look at BID legislation – it gives a mechanism to find a

way to fund projects that will benefit the locale. “Our situation was exacerbated by what has happened in the last five years. We had to look at spreading the cost.” The majority of the five-year BID plan is focused on smaller, manageable chunks that will provide practical improvements. “We have gone through a whole series of consultations over the last 12 months,” he added. “The conversations we are having now is ‘you tell us what will make a difference to you and give you a return on that levy, whether it’s £12,000 or £120’. “It’s not big ticket stuff, it’s smaller, but that’s what place management is about and making the best of the resources you have available. “It might be about, say, animating St Paul’s Square, but in Temple Square it might be about cleaning it up after a Friday and Saturday night. Or on some of the smaller routes, like Bixteth Street, Harrington Street, Rainford Place, getting work done. “We might be able to finish those schemes off, which were never on the

‘You tend to get a plateau and it can fall away’

council’s list anyway.” Although there seems to be a generally positive sentiment towards the creation of a business BID, Mr Rice is keenly aware that it is nearly impossible to predict how the vote will go. He said: “It’s very difficult, given the number of businesses out there. But those we have engaged with, once we have started talking to them, they can see how they will benefit as a business. “Some people take the position that it’s another tax but I say we can’t afford not to do it. “But so much has happened over the last 10 years and we are on the cusp of something here. “There’s a real challenge for us to make sure we don’t fall back. The BID is a key element in making sure we don’t fall back.” A successful outcome would see the Liverpool Commercial District BID join the existing corporate structure of City Central BID, although there is a desire for an injection of new faces and enthusiasm. “The city council wanted one BID company, so the executive board will have people added to it. Probably a couple because there is already Max Steinberg [Liverpool Vision chief executive], Jack

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ve business area

Paul Rice – heading the proposals to turn the Commercial District Partnership into a Business Improvement District

Old Hall Street is a key part of the proposed business improvement district that is under consideration Stopforth [Liverpool Chamber of Commerce chief executive] and Cllr Malcolm Kennedy on the board, but we would add a couple of people to represent our interests directly. “We also want to freshen up our operating board and get a broader constituency of people involved. “This is their money, we want them to make sure it’s being spent in the right way. We want doers who want to roll their sleeves up. “There’s not a huge representation from Dale Street and North John Street, but it’s also about getting some of the smaller companies involved. “We want to see more retailers and a broader spread of businesses because the board was made up of people paying the money on a voluntary basis.” Approval in the ballot is all that Mr Rice is waiting for before starting work on the next phase of activity. “We will start implementing that business plan straightaway, doing the smaller stuff straight away, and sitting down with the city council about the capital projects as well as sitting down with businesses to

get a more detailed programme of what they want,” he said. “We want to really hit the ground running. The business plan is largely about things we have talked about with stakeholders for the last 3-4 years, but we have never managed to get sustainable funding in place to do.” But he has considered what would happen if the businesses don’t support the BID’s plans. He added: “The Commercial District Partnership would carry on but it would be in a much reduced form, probably on a project by project basis. But the large scale projects that we are talking about would not happen, and there wouldn’t be the collective benefit. “It would be project specific – nothing of the scale we have seen over the last five years or that projected in the business plan. “The vote will be close. If the people who have said they will vote yes do vote yes then I’ll be confident. “We currently think the business case we have set out has the merit to secure the yes vote and we just hope businesses see that and support it.”

‘We want to really hit the ground running’

Canadian concept that has spread across the world BUSINESSES in Bloor West Village, Toronto, set up the world’s first business improvement district (BID) in 1970. Frustrated by problems arising from a new subway line, they had banded together in a business association to pay for improvements to their area. But their appeal for voluntary contributions failed to match their ambitions, which led to them lobbying local government for assistance. The result was legislation which led to a BID being created and the unwilling companies were legally required to contribute. Four decades later, the idea has spread across the world, from Albania to New Zealand. In the UK alone more than 110 BIDs have been set up since the first one launched in Kingston upon Thames in 2004. Locally though, they have struggled to gain acceptance. The first vote for City Central BID – which covers Liverpool’s main retail area – in March, 2005, was rejected, failing to secure a majority by aggregate rateable value. However it

managed to convert a few retailers to scrape over the threshold in a second ballot later that year. At the end of its term three years later, the BID received much stronger backing with around two-thirds in approval. However plans for a BID in Southport have been rejected twice, in 2005 and 2007. On both occasions a numerical majority was achieved but it failed to gain the support of the larger businesses. So far, most of the BIDs have been set up in town centres and have predominantly focused on the needs of retailers and other businesses operating in the main shopping areas. But their successes have encouraged commercial districts and industrial estates to make use of the legislation. It is in such places that BIDs have been even more popular, with “yes” votes garnering more than 70%, and sometimes 80%, of those cast. In Halton, ballots on BIDs at Astmoor and Halebank industrial estates in 2007 were both supported by 72% of voters.

private business Colloids’ strategy produces growth

KNOWSLEY-BASED Colloids bounced back from a tough 2009 as its diversification strategy had a big impact on its top line. The firm produces masterbatches – concentrates of colour for the plastics industry – which can end up in products as diverse as car parts to plastic bags to gas pipes. After seeing turnover drop by 11% in 2009, like-for-like sales increased by nearly £7m to £23.0m last year, “significantly out-performing” its budgeted figures. In addition, its purchase of Impact Colours, in Northamptonshire – completed in November, 2009 – added sales of £2.9m, taking the group’s turnover to £26.0m. Colloids pre-tax profits also rose strongly, up £900,000 to £1.1m. In accounts filed at Companies House, Colloids’ directors said: “During the year, the group has continued to focus on growth in its target markets and diversified its exposure to the auto sector, these actions are proving to be successful. “The directors believe that when the group’s position in these markets becomes more firmly established it will support further profitable growth and make a significant contribution to the group’s results. “The challenges the group faces in 2011 are the continued uncertainty in the stability of the global economy going forward, availability of raw materials and pricing volatility driven by oil price inflation and finite resources reaching total capacity. “We believe that our product mix is now more balanced and capable of adapting to the changing markets.” In March, Colloids secured a £1m commercial mortgage from Barclays Corporate to buy its Kirkby Bank Road premises in Knowsley Industrial Park. ALEX TURNER

Wednesday, May 11, 2011

LDP business .co.uk briefing Car dealer in market surge as sales rise CAR dealer Pendragon said it had outperformed the market in three months to March 31 after sales volumes of used and new vehicles increased by 16% and 9% respectively. However, aftersales, which remain the biggest source of profits for the company, saw turnover decline marginally.

Profits up at hotels group INTERCONTINENTAL Hotels, the world’s largest hotel company by number of beds, reported a 35% increase in operating profits to £68.4m in the first quarter of 2011. Revenues rose 9% to £242m with the help of the highest income from the US for five years.

G4S pressure SECURITY services provider G4S said its profit margins were under pressure after its cash transit business saw a 1% decline in organic growth in the first quarter. Revenues rose by 3.8% and profits were also ahead of last year but margins were lower.

Orders up CONSTRUCTION firm Balfour Beatty said the value of its global order book has increased from the £15.2bn it reported at the end of 2010. Its UK construction order intake was helped by a Crossrail contract.

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City jewellery designers enjoying sparkling trade by Tony McDonough

LDP DEPUTY BUSINESS EDITOR tony.mcdonough@liverpool.com

ALICE HUGHES was first inspired to design and sell jewellery following a trip to New Zealand. She was overwhelmed by the beauty of the natural environment of the country and saw great potential in producing individual pieces of jewellery based on plant and shell designs. While she was out there, Ms Hughes enrolled on a jewellery making course run by a man called Ray Mitchell. He made the “One Ring” used in the blockbuster film trilogy, Lord of the Rings. She said: “I was totally inspired by the country – by the plants and the shells – everything is on a larger scale and I felt totally overwhelmed.” That was in 2004 and shortly after her return to the UK she set up Alice In Wonderland Jewellery. The business has traded steadily over the last few years, with Ms Hughes working out of premises in and around the city centre. She now has her design studio in her Sefton Park home, and is embarking on a rebranding of her business which will now simply be known as Alice. The rebranding came about after Alice sought out help from top brand consultancy, Elmwood, run by Jonathan Sands. She said: “Elmwood is a global brand company. I went to their office in Leeds and sat down with Jonathan and five of his colleagues, and they gave me their ideas. “He advised me to call the business Alice. He felt it was stronger and would fit into the luxury market better.” There are two strands to the business – tailored jewellery designed and made to order and a fixed range of collections each with different themes. They are Diamond Violet, Bridal, Snow Queen, Grasses and South Island and each collection has its own coloured gemstone. Ms Hughes has stayed true to the roots of her business, with her designs continuing to be based around natural themes. Prices start at £150 with tailored pieces with jewels costing up to £1,200. She added: It is all about the beauty of nature and trying to recreate that in a piece of jewellery. “Colourful gemstones are used to create each piece and the focus is very much on creativity and quality.” As well as designing in her home studio, Ms Hughes also has an office in Silkhouse Court, in Liverpool city centre’s business district, where she holds meetings with clients. Typically, they may be couples looking for Alice to design and make wedding or engagement rings. She is currently working on a design for one client featuring a blue diamond. “I am building a high-quality brand that can compete with the likes of Boodles,” she said. Celebrity endorsements can give a business a real boost, as Claudia Pink can confirm. Ms Pink designs and makes costume jewellery out of antique pieces of jew-

Alice Hughes shows off one of her jewellery designs

Picture: JASON ROBERTS/ jr090511jewellery-1

Claudia Pink at her Metquarter store, in Liverpool

Leaving Quiggins was a tough decision for Ms Pink, as it was the place she had forged her reputation. But the opportunity to be based among designer fashion outlets at Metquarter was too good an opportunity to miss. She added: “The actual shop units in Metquarter were too expensive, but they offered me space in the middle which has worked out really well – I think I have brought some colour and sparkle. “My typical customers are the glamorous girls of Liverpool. Alex Gerrard could afford to go anywhere and yet she still comes to me.” However, despite her growing reputation, Ms Pink has resisted the temptation to hike up her prices, which range from £10 up to £60. “Many of my customers have stayed with me from Quiggins and I don’t want to appear greedy. “Around the Grand National is always a good time for me, and I do well in the summer because I will also customise bikinis.” Ms Pink’s reputation is now spreading further afield and she is now selling her designs through top online fashion site ASOS. She added: “I am in with mainly retailers from London and the South East, so really feel like I’m representing Liverpool.”

ellery. She started off with a store in Quiggins, in Liverpool city centre, four years ago and now trades from the up-market Metquarter shopping centre, in Whitechapel. Her hand-made masterpieces have become a hit in Merseyside and far beyond, and high-profile customers include Alex Gerrard, wife of Liverpool FC star Steven Gerrard, as well as Coleen Rooney. Ms Pink said: “I taught myself. I went to university to do fashion design and I have dabbled with all kinds of things including costume design and interior design.

“I buy vintage pieces of jewellery and then break it down and put my own design together. “When I started, I found people really liked what I was producing and wanted to buy it – no one in Liverpool was doing what I was doing. “My only competition was TopShop, but what they were selling was mass-produced. “Customers like Coleen Rooney and Alex Gerrard really helped because that got me a lot of press. I was featured on GMTV alongside names like Chanel and YSL – and that got the national magazines interested.”

Wednesday, May 11, 2011

LDP business .co.uk Tax hike hits BG revenues GAS and oil exploration giant BG posted a sharp fall in profits yesterday as it counted the cost of the Government’s raid on North Sea drilling. BG took a charge of £162m to reflect the rise in the offshore drilling tax to 32%, from 20%, announced in the March Budget. Its effective tax rate this time rose to 45% from 42% as a result of the Chancellor’s move, it added. The oil and gas group was also hit by the problems in North Africa, bad weather in Australia and maintenance shutdowns on two major platforms in the North Sea. Production growth in 2011 will be “modest”, chief executive Frank Chapman said, though he expects a ramp-up in output through next year and into 2013 as huge developments in Egypt and offshore Brazil start to come on stream.

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King poised to downgrade Britain’s growth forecasts by Jamie Grierson

LDP CORRESPONDENT business@liverpool.com

Bank of England governor Mervyn King – says inflation will ease Picture: CHRIS RATCLIFFE

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BANK of England governor Mervyn King is expected to slash growth forecasts for the UK today, in a further sign the recovery is under strain. Mr King, who will present the Bank’s quarterly inflation report, is also expected to say inflation will spike later this year before easing in 2012. The report should bring some relief to millions of homeowners as it is likely to reinforce dwindling expectations of an imminent interest rate hike. But lower growth will once again raise concerns over the strength of the UK economy as it enters the age of austerity, and questions will be raised over the severity of Chancellor George Osborne’s fiscal squeeze. Economic growth forecasts have been progressively downgraded since the start of the year as more gloomy data emerges. The Bank predicted growth of around 2% for 2011 in its February

report, and City analysts expect it to revise estimates to around 1.5%. The Bank estimated growth of 3% for 2012, a figure some economists also expect to be cut. Recent figures revealed gross domestic product (GDP) grew at a tepid 0.5% in the first three months of 2011, which, following a shock 0.5% decline in the final quarter of 2010, meant the economy had been flat for six months. Furthermore, inflation unexpectedly dropped in March to 4%, which while still double the Government target, eased pressure on the Bank to raise interest rates, which have been at an historic low of 0.5% since March 2009. The rate of inflation for April is yet to be released. The Bank is expected to reiterate its belief that inflation will drop back towards the target in 2012. Howard Archer, chief UK and European economist at IHS Global Insight, said the flurry of recent disappointing data and surveys was likely to have heightened the MPC’s concerns over the economy.

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Liverpool’s retail property market continues to hold its own

view point

by David Legat, of Mason Owen, in Liverpool

THERE is a misguided view that all high street lettings since the end of 2008 have been at a highly discounted rate.

Agency appoints senior partner PROPERTY firm Edward Symmons has appointed Nick Boyd as its senior partner, while current senior partner, Paul Proctor, moves to the newlycreated role of chairman. Mr Boyd will take over responsibility for the firm’s operational management and leadership. Mr Proctor will handle responsibility for client development and market direction. Both roles will focus on business strategy, growing Edward Symmons’s enviable client base and looking for further opportunities to strengthen and expand the firm’s niche specialisms. Edward Symmons has offices across the UK, including one in Liverpool. Mr Boyd said: “I take on the role of senior partner at a very exciting time for Edward Symmons, and with the support of our expert staff I am looking forward to leading the firm as it continues to evolve and grow.”

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But, while some highly concessionary deals have been agreed, this is certainly not the case across the board. Different areas within Liverpool are coping with the current economic climate with varying success but the basic rule still applies – where demand for space remains, so do rental values. Liverpool One has helped the city weather the economic storm, in no more apparent way than its unexpectedly positive impact on Church Street – which has helped Liverpool maintain a buoyant traditional high street. Liverpool One itself is performing

well with its boutique streets such as Keys Court and St Peters Walk now reaching full occupancy to match its main shopping streets of Paradise Street and South John Street. There are still vacancies within the scheme, but this is to be expected as tenants shuffle around and find their feet in what is still a very young scheme. Outside of Liverpool One, the traditional shopping streets of Liverpool are still holding their own. Bold Street remains a vibrant and diverse shopping street with an

assorted tenant mix, and Renshaw Street is coming back to life with the re-letting of the former Rapid Building. There is also the positive impact that the Central Village scheme will have on the area, with the redevelopment of the former Lewis’s department store. The problems facing Liverpool’s retail property are synonymous with the problems all high streets are facing. To date, Liverpool has largely managed to fill the voids created on the high street by the apparent

‘Landlords need to maintain the tone of the street’

never-ending succession of retailers going bust. The retailers who have taken these spaces have tended to provide a retail offer tailored more to the value end of the retail industry. This is, perhaps, a double-edged sword. On the positive side, the voids on the high street are being filled, but at the cost of the tenant mix of the high street – for example, where a fashion retailer once traded, there is now a pawnbroker. Landlords need to be careful that the tone of the street is maintained, not just in rental terms but also in retailing terms.

Growing logistics firm seals deal for giant new base

Representatives from Downton, Pin Property, CBRE and Halton Council, outside the Runcorn facility

THE North West Industrial team at CB Richard Ellis has successfully advised Pin Property Consultancy on the sale of 100,000 sq ft at Premier Point Industrial Facility at Whitehouse Industrial Estate, Runcorn, to logistics specialist Downton Distribution. Jeff Pike, Pin’s senior building surveyor, was in charge of overseeing the project which involved modifying and extending the facility to provide a concreted yard in excess of 2.5 acres, along with refurbished offices, vehicle wash and fuel pumps. Downton will use the facility as a North West base to service the company’s growing number of clients in the region, including INEOA and Shotton Paper. Jonathan Thorne, director of industrial agency at CBRE North West, said: “It is encouraging to see another large deal in the market, showing that demand is still strong and buildings are being taken if the fundamentals are right for occupiers.” Davies Harrison acted as joint agent on the sale with CBRE.

Leisurecompanypurchase boostsGVAexpansionplans by Tony McDonough

LDP DEPUTY BUSINESS EDITOR tony.mcdonough@liverpool.com

PROPERTY consultancy GVA is to expand its presence in the hotels and leisure market with the acquisition of Humberts Leisure. Contracts have been exchanged, and GVA will complete the deal later this month. The new leisure unit, to be named GVA Humberts Leisure, will bring together the specialist leisure advisory expertise of Humberts Leisure and

GVA’s existing hotels and leisure capability. GVA is the seventh-largest property advisor in the UK, and the firm says this acquisition will establish it as “one of the UK’s leading leisure consultants”. Mark Rawstron, regional senior director at GVA in the North West, said: “We welcome this expansion into the hotel and leisure sector. “GVA has a dedicated hotel and leisure offering in the North West, so the acquisition of such a prestigious business as Humberts Leisure is of great

significance to our business in the region. “The leisure sector requires a highly specialised skills-set, and it is important to us that we can deliver to our clients the best possible advice in these challenging times.” Its existing hotels and leisure team, led by James Williamson and Ian Thompson, is particularly focused on hotels, so the acquisition will allow the company to effectively tap into the wider UK leisure sector. This will include pubs and licensed property, hotels, general leisure, hol-

iday property and caravan parks, golf courses, sports complexes and venues, urban leisure, water-based leisure, visitor enterprises and institutional property. John Anderson, executive chairman of Humberts Leisure, added: “We're delighted to have agreed the merger with GVA as this provides us with a strong platform from which to drive our growth strategy. “Integration of the two complementary leisure teams is a tremendous enhancement to our national leisure service.”

Wednesday, May 11, 2011

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TO LET

Hattersley House, Burscough Road, Ormskirk 340 – 1,500 sq ft suites available. On site parking facilities. Close proximity to Ormskirk town centre. Good access to motorway network (M58) FROM £95.00 P.W. Ref: 001980

Moss Side, Formby Building plot/ detached house. Planning permission granted (subject to 106 agreement) Total site area approximately 1.1 acres. Semi rural location. Previously used as kennels. Best offers in writing Ref: LO1786

2 Large Building Plots with Planning Permission for Individually Designed 5 Bedroom Detached Properties. Detached Architecturally Impressive Substantial Executive Homes. Houses Proposed in excess of 3,200 Sq.Ft. Exclusive Residential Development Opportunity Design & Build and Bespoke Specification Packages also Available. Further details on application

Commercial Property Consultancy Throughout Sefton & West Lancashire PREMISES AND LAND

RESIDENTIAL DEVELOPMENT OPPORTUNITY

FOR SALE

Russell Road Approximately 1.34 Acres Warehouses, offices & hardstanding. Long leasehold, owner occupier or development potential. Vacant Possession. GUIDE: £250,000 Ref:WHO/1952 PADDOCK & STABLES

FOR SALE

BROOKFIELD LANE, AUGHTON Total site area 6.7 acres approximately. Gated roadside access. Timber four stable block, with concrete hard standing, tack room, storage and water connection. Planning Permission granted for new riding arena with new fencing and gate. Rare Opportunity to acquire Paddock Land in Aughton, West Lancs. £150,000 Ref: LO1957

FOR SALE

Chapel Lane, Netherton Outline consent granted for 7 detached dwellings Freehold Offers In Excess of £550,000 Ref:LO/1919

WELL APPOINTED RETAIL UNIT Available due to Relocation

TO LET

LORD STREET, SOUTHPORT Mezzanine sales area, Scope for alternative uses such as Bar/Restaurant subject to the necessary consents. Prominent position to Lord Street. Excellent glazed and fascia signage potential. Quoting rental £30,000 per annum. Ref: SO1977

SUBSTANTIAL FREEHOLD GARDEN CENTRE

Sale due to Retirement.Long established Garden Centre, high profile to main road between Ormskirk and Southport. Approximately 5 acres. Rental totalling approximately £39,400 per annum from UPVC windows and conservatory sales, café, kitchen sales, Koi Carp Aquatics and Landscapers. Main retail turnover figures on application £575,000 Ref: LO1931

VEHICLE REPAIR PREMISES PLUS 4 X BEDROOM BUNGALOW

FOR SALE

OLD PARK LANE, SOUTHPORT Vehicle repair premises and yard, 4 x bedroom cottage style bungalow Convenient Churchtown and High Park amenities.Development subject to appropriate permissions. Goodwill/business by separate negotiation Guide Price: £335,000 Ref:GO/1788

S P E C I A L I S T R E S I D E N T I A L A N D C O M M E R C I A L P R O P E R T Y C O N S U LTA N T S

Hoghton Place,47 Hoghton Street, Southport PR9 0PG.

08450 500345

DETACHED SUBSTANTIAL VICTORIAN PROPERTY

FOR SALE

ALEXANDRA ROAD, SOUTHPORT Would suit offices, doctors surgery, etc. subject to planning.Well appointed throughout retains many original features, close to Southport town centre. Large rear plot with external brick built ancillary accommodation. Price: £375,000 / Rent From £20,000 p.a. Ref:IVO/1884Various options available

John Barnes FICBA FNAEA Graham Bowling BSc(Hons) MRICS

www.fittonestates.com

Wednesday, May 11, 2011

LDP business .co.uk Aerospace & Defence

31712 25138 Forgn & C 32334 206

Index 3419.28 ▲ 71.84 28112 9812 Avon Rbbr

280

+412

36978 29434 BAE Systems 33212xd +834 73612 51958 Chemring

653

+512

25214

23018xd

+478

19214

Cobham

367

528

40978

252

Witan

64312xd +12

20114 11934 BT Gp

15638xd +234

6278 4438 Cble&WComm 4778 92

Automobiles & Parts

6512 41

Index 5146.08 ▲ 91.18 23718

10914 GKN

4658

344

25538 Barclays

87512 610

278 xd

Bco Santander 717

+12

73078 59614 HSBC

65614

14634 1938 Ireland

2058

-18

+414 +38

Cble&WWwide

5034

+18

KCOM

6234

+214

20-Day Moving Average

5805 5710

Mar 28 - Apr 1

Apr 4 - Apr 8

30714

+414

395

35534

+658

31358 Sainsbury

44058 37712 Tesco 112

41114xd +714

Thorntons

-1

Food Producers

345

EASYJET

5218 3758 Ryl Scotland

4212

+ 78

1182 92012 AB Foods

1051

1959 1525 Stan Chart

159212xd+2012

72312 47712 Carrs Mill

720 xd

90712 735

760

Health Care Equip & Serv

42478 33934 Dairy Crest

40714

+ 34

Index 3856.61 ▲ 21.26

7534 4134 Nth Foods

Index 9863.67 ▲ 102.05

+18

1394 90912 Barr (AG)

1369xd +29

3478 16

518

421

62612 40918 Tate Lyle

62612

+11

2000 1688 Unilever

2000

+33

36412 Britvic

-112

1273 1025 Diageo

1273

2306 1827 SABMiller

2258

+35

Chemicals Index 7504.57 ▲ 148.60 1919 901

Croda

16934 5834 Elementis 2100 1460 Johnsn Mat

61412

1919xd +26 160 xd

2029

+44

Construction & Materials Index 4243.54 ▲ 98.32

340

Premier Foods 3478

+218

Mondi

88812 664

Close Bros

57012 35912 ICAP

+214

80712

+512

510

1013

146158xd+2058

1257 76212 Rathbone

1170xd +41

1413xd +24

6312 2834 Low Bonar

6214

12412 7834 Marshalls

12134

Electricity

+112

London Stk Ex 82712

1922 1154 Schroders

1750xd +93

General Industrials Index 3321.60 ▲ 71.74 72412

Index 8238.27 ▲ 165.46

544

36738

+18

398

+814

108

21414

+334

Smith DS

1429 1008 Smiths Gp

38312 Domino Ptg

66412

179

9834 Laird

14778xd +212

2514 1214 Ashley L

32918

31114 221

29312 Alliance

38212

1112xd +31 9334 xd

230

115

MS Intl

230

Renold

3412

-112

Weir Gp

+ 12

Brown (N) Gp 298

+1214

Index 4602.86 ▲ 77.26 47778 29414 Aviva

44634xd +814

+ 12

12334 7214 Lgl & Gen

117 xd

+14

1134 Dixons Retail 1534

+18

777

770 xd

+21

550

34814 Halfords

48914 Prudential

39514

+612

31134 21114 Resolution

28058 18812 Home Retail

22534

+318

24434 173

414

37112 +1058

23718 Inchcape JD Sports

89212xd +12

29614xd -118

Standard Life 221 xd +212

Media

13858

+112

27958 19812 Kingfisher

27838xd +278

796

577

Candover Inv 61012

-112

42712 32638 M & S

39578

+334

849

228

17118 Dunedin IncGth22212xd +212

62712 382

42414

-138

59412 433

142

10034 Dunedin Sml

14112

2326 1868 Next

2320

+19

9312 4814 ITV

7578

478

369

478 xd +812

2885 1724 Signet Jwlrs

2583

1159 864

1150xd +14

49834

+514

Edin Invst

66012 53012 Edin US Trkr Tst 653 xd +912

High

96 2012

Low

39 Adv Medical 334 AEA Technology 241 Albany Inv Tst

1251

764 AMEC

2012 Anglesey Mining

3912 594 1258 119212

39814 WH Smith

22934 Balfour Beatty 29 Beale 501 Compass Gp

Price

83 412

Var 5Day

High

- 14

479

+18

53612 BSkyB

842

D Mail Tst

6514 33334 xd

- 14

9112

Low

32214 easyJet 5934 IS Pharma 683 JD Sports Fashion

-16

21212

1112 JJB Sports

-312 -1014

3512

1534 Johnson Serv

+858

52434

361 Nichols

12112

8312 NWF

1934 Park Gp

+414

3012

77212 +1312

- 34

1634 761

1220xd +17

263112 168412 BHP Billiton

2449

1682 81112 Fresnillo 1671 965

+38

+43

59112

+712

+212

478 Coral Prod

1034

+ 18

1257

76212 Rathbone

89712 Dee Valley

119212

+10

13918

9712 Redrow

Price

8712

-1

+414 -1

89212 xd

+ 12

2912

+112

+434

3438 xd

+ 14

52434 xd

+25

111

-212

- 12

+212

1170 xd

+41

-12

12712

+114

-378

2224 1753 Imperial Tob

2224

Index 4866.07 ▲ 64.97 3153 2037 Carnival 594 479

501

2603

+47

Compass Gp 59112

+712

32214 easyJet

357

28438

Big Yellow Gp

604

41814 Brit Land

34312

274

Intl Cons

Ladbrokes

335

821

575

Inmarsat

620

12612 85

9812

+ 14

- 12

14714 10134 Logica

14318

+134

302

296

Nonlife Insurance

Kewill

22234 Sage

+1014

Support Services

Index 1676.46 ▲ 24.91 1753 1238 Admiral Grp

1740

188412 125938 Marsh McL

182314xd+414

Oil & Gas Producers

2012 334

AEA Tech

984

800

49314 366

43438

+814

1921

+69

2336 1554 Ryl D Shell B

2250

+4312

1493 99112 Tullow Oil

1381xd +31

+22

Personal Goods

1329 61212 Burberry Gp

1329

+27

27914 PZ Cussons

32934

- 18

409

Low

14312

11434 RSA Insurance

1914 Speedy Hire 3534 Sportech 2514 Telme Gp

5514

3234 UK Coal 78

57512 Experian

Ultima

817

+12 +712

Armour Gp

518

564

19012 Cape

134

Crimson Tide 112

214

112

Dawson Intl

838

414

Eckoh

52412

2 818

377

3512 1534 Johnson Serv 3438 xd

29634 18312 Interserve 545

33734 Menzies J

29214xd +912

540

34634 15214 Northgate

34078

- 78

30834 20838 Prem Farnell

29512

+618

12734 8414 Rentokil

9512

+138

Smiths News 10112

- 14

Metalrax

1158

550

355

Portmeirion P 49212xd

142

1127 709

1080xd

13878 xd 3014 45

Redhall Gp

115

Var 5Day

+ 34 -134

+1 + 14

4712

- 14

+ 12

4178

-18

+ 58

-1

-214

158

2000

1688 Unilever

2000

+33

+13

63112

520 Utd Utils

62112

+812

-912

565.60

1.80 3.30

International

427.00

0.40

North Amer Acc

471.60

0.10

£90932

£50 Cons 212% ................ £52

670

Young A

597

-4

£8134

Tourist

Buy

Sell

1.44

1.509

1.514

1.50 8.11

1.568 8.477

1.570

£61

£50 Tr 212% ................. £553132

£1171516 £1082932

8.487

£10738

£1031732 £1152532

1.09

1.137

1.138

£121516

125.57

131.890

131.990

£114332

£109532

1.93

2.057

2.062

£1112932

£105732

krone

8.58

8.893

8.894

Poland

zlotys

3.95

4.465

4.473

Sweden

krona

9.80

10.179

10.189

Switzerland

francs

1.36

1.436

1.437

Norway

-1

-132

Treasury

dollars

Var

£69 Cnv 312%.................£7212

£10958 £1011532 Cnv 9% 11 ......... £1011532

Currency

yen

Price

£761132 Cons 4% .................£7734

Conversions

New Zealand

0.38

FUNDS

- 58

Japan

220.86

Low Funds

7478

euro

In order to give a greater range of Unit Trust information, covering a larger number of trusts, the list of funds changes each day as follows: UNIT TRUST MANAGERS DAYS PUBLISHED A to Com ................................................... Tuesday F to Inv....................................................Wednesday JP to Pru...................................................Thursday Roy to T .........................................................Friday

Uniq

European Union

0.70

209.20

7812 67

krone

329.19 1.10

823.50

£582732

Country

Denmark

11912xd

dollars

2.83

Consols

Australia Canada

455.90

Far East

High

£ ABROAD

+158

56.65 4.40

Inc & Gwth

Swallowfield

510

-316.52

-114

5112 1112 Scapa Gp

+ 34

2146xd +26

+14

3014

2261 1223 Wolseley

+112

4814

3412 1914 Speedy Hire Travis & P

2912

3034 Man Brnze

17312 55

1054.60

- 54.22

Sing ASEAN

452

-2

3.59

+112

21212 1112 JJB Sports

24134 Hyder Cons

134.10

INVESCO FUND MANAGERS

27834xd +514

Price

819

28534

API Gp

28234 23734 G4S

▲ 1.31%

High

3412

54912 De La Rue

28534 20534 Electrocmps

122

Index 21854.09 ▲ 338.89

+812

75012

Bunzl

1186

62112

1514 412

45512

AMEC

63112 520

54758 30278 BP

Oil Equipment & Services

European

+412

741 xd +512

2140 1085 Premier

Capital

+19

- 18

3.40

224.30 3.08

HILL SAMUEL UNIT TST MGRS

+12

2358

UK Equity Inc A

1485

758

63.63

-224.30

0.99

271.00 3.04

HENDERSON HORIZON FUND

+15

Index 898.94 ▲ 0.37

107.50

662

49112

658

-271.00

1513 1126 Severn

+518

783

Balanced British

European Smllr Cos A -

62912 48414 National Grid 62912

20012

Ashtead Gp

HSBC INVESTMENT FUNDS (UK)

Sterling Bd Unit Tst

119212

20778

81212 63512 Capita

Cairn Energy

+514

30834xd +514

+ 18

141212xd -23

+38

119212 89712 Dee Valley

1792xd +29

34618 26412 Centrica

1792 1173 Aggreko

51912 36014 Berendsen

Index 8526.97 ▲ 84.34

-1997.74 2080.98

AIM

4 12

531.59

-1024.32 1078.23

Property Bonds

Utilities

Index 4684.11 ▲ 67.23

+39

-505.01

Monthly Inc

Utd Utils

3.56

172.91 4.28

International Acc

+13

48278 Pennon Gp

215.29

GUARDIAN

1658

662

-161.17

Index 4676.07 ▲ 87.60 - 78

1.11

Index-Linked Acc

+438

1887 1266 Whitbread

921.55

+214

24512

TUI Travel

11058

+51

+414

Euro Sel Opps

248

Index 756.28 ▲ 15.55

0.01

27178 190

Software & Comp Servs

33314

769.00

Gilt & FI

36414 23014 Invensys

GARTMORE FUND MANAGERS

Gilt & Fixed

6655 4425 Randgold Res 4899

6112 3012 Emblaze

Sth East Asia

-334

+512

1726

0.01

23618 16114 Thomas Cook 162

77112

1975 1271 Autonomy

2000.00

+158

33114 25014 SEGRO

-1

267.74

20814 Restaurant Gp 329

79112 545

Spec Sits

-254.35

+158

+14

5514 3234 UK Coal

0.50 0.10

Pacific Acc

152

1576

423512 +100

232.20 132.00

+178

Punch Taverns 7878

15234 9434 Rank Gp

1301xd +18

4712 2812 Rio Tinto

14978xd

+34

+318

+ 34

Japan Jpan Spec Sits

-4

Mitchells&Btlrs 333

40978

319

1.67 4.30

+634

Airlns 24838

42734 28012 Gt Portland Land Secs

500

Intercontl Htls 1298xd +49

1471xd +33

Kazakhmys

328.40 205.20

Income

24678 16034 Stagecoach

1983 1355 Lonmin

Pratical Inv

9038 58

593 xd +312

Gwth & Inc Income Plus

+15

361

+434

0.32

1500 1042 Go-Ahead Gp 1500

11718 8978 Marston’s

3738

619.00 1847.00

+1014

Holidaybreak 269 xd

Yield

+158

37614 Greene King

Offer

Price Gross

+538

240

Price

Amer Spec Sits

34414

500

Bid

Terms

American

41258 31114 FirstGroup

360

Cancel

FIDELITY INVESTMENT SERVS

13634 8438 Enterprise Inns 96

Vernalis

+67

Travel & Leisure

+51

up 15.97 Var 5Day

271812 +4812

2919 2157 Daejan Hldgs 2776

+178

357 +1014

271812 1959 Br Am Tob

12234

35314

-2 +358

Tobacco

15214

3140

Index 1958.11

3055

Antofagasta

98 xd

16014 10234 Spirent Comms 144

285

Fund

10234 7134 Psion

131812 1095 GlaxoSmthKln 1302xd -112

3385

593 xd 2512

1435 982 +3912

Real Estate

3437 2254 Anglo Amer

ARM Hldgs

3714 1934 BATM

21278

280112 AstraZeneca

Index 25895.46 ▲ 453.63

59012 46058 Reed Elsevier 54912xd+1712

96412

+22

WPP

49358 +1434

Pearson

-312

283 1186

-114

84612 608

1251 764

DAILY POST REGIONAL INDEX 1231.21

28712

35714

523

14312

Index 25741.01 ▲ 376.81

Br Assets

+238

UTV

Index 4319.15 ▲ 64.46

14012 105

Mothercare

106

156412 984

7158

96412 683

151

BBA Aviation 22314xd +338

7738

Debenhams

48018 Utd Business 588 xd +212

Life Insurance

2034

Index 9434.20 ▲ 39.75

14312 11434 RSA Insurance 13878xd +158

Index 2644.58 ▲ 32.74 24034 175

18234 12912 Vodafone Gp 16958

Industrial Transportation

+30

5234

Index 3877.24 ▼ 10.88

4312 Molins

Pharma & Biotechnology

Mobile Telecoms

108

-434

1112 578

IMI

157

+918

38112

Index 1786.17 ▲ 18.63

705

385

1240

General Retailers

Index 3232.58 ▲ 96.81

Index 6140.70 ▲ 49.17

790 xd

Charter

38734 18314 Fenner

1948xd +37

29038 Rexam

Equity Inv Instruments

85312 567

1948 846

226

39734xd +15

-38

398

+812

39734 18212 Bodycote

312

+25

748

Index 7513.14 ▲ 152.14

Cosalt

+414

31814

Industrial Engineering

2063xd +21

1333

Oxford Inst

+ 78

2063 1344 Spirax Srco

32418

12712 Volex Gp

+114

+ 18

1358 1010 Scot&Sthrn

256

4314 2214 Taylor Wimpey 3912

1034

44858 28412 Intl Power

377

14014xd

Coral Prod

338

774

McBride

Cooksn Gp

658

+15

196

1258 478

45634xd+1334

32918 16712 Morgn Cru

72812 +1612

72412

45778 32614 Drax Gp

Electronic & Electrical

Bellway

1033 72812 Provident

Kier Group

11418

12712

To assist in the analysis of the market two figures are given for each sector. Firstly an index (set at 100 on January 1 1992) to give a comparison in the performance of various market sectors. Secondly an indication of the percentage change in the price of all the securities within a sector since the previous close.

Mining

74512 511 114

STV Group

725

Aga Rngmstr 118 xd +814 Barratt Dev

13918 9712 Redrow

933

1413

Index 6025.19 ▲ 72.40 27114

Index 6704.31 ▲ 49.47

3648 3015 Reckitt Benck 3455xd

22812xd -112

88612

68712xd +312

General Financial

25418 3i

168

13834 4534 Trinity Mirror

Household Goods

12514 70

61412xd+1312

May 10, 2011

53712 Smith Nph

138

265

174634 102938 CRH

742

Share price (pence)

Nov 10, 2010

Forestry & Paper

35714 22934 Balfour Beatty 33334xd +858 18512 Costain

290

Index 6619.00 ▲ 145.41 36758

T W T F

FTSE-Rebased

400

651

22838

Index 31646.47 ▲ 678.93

s............ dealing suspended xd.............price ex-dividend xs ......... price ex-scrip issue xr ........ price ex-rights issue xc ..... ex-capital distribution xa................................ ex-all £......price value in £ sterling Those securities which have increased in value since the previous close are shown in bold type.

7758 5012 Lloyds Banking5458

Beverages

455

Index 5362.83 ▲ 93.21

Cranswick

Apr 11 - Apr 16

3133.73 ▲ 1.28%

UNIT TRUSTS

Index 766.77 ▼ 0.04

KEY

510

30714 25758 Morrison W

6004.34 ▲ 0.05%

FT ALL-SHARE up 39.59

SPOTLIGHT

Index 4867.86 ▲ 82.36

Banks Index 4650.40 ▲ 63.01

5900

20114

6018.89 ▲ 1.28%

20 DAY MOVING AVERAGE up 2.72

5995

Food & Drug Retailers

22018xd +378

FT-SE 100 INDEX up 76.20

FTSE-100

Index 2449.07 ▲ 40.64

665

15912 10634 Senior

+312

6090

Fixed Line Telecoms

36178xd +738

Rolls-Royce

51912

38078 26134 Meggitt 535

+312

Tech Hardware & Equip

Closing Indices

FTSE 100 INDEX

+314

27314 Law Debenture 367 18614 Scot Am

Keep track of all the major share moves of the day with our live FTSE ticker at www.ldpbusiness.co.uk

31712xd +334

Hend Smllr Cos 31412

252

LondonStockMarketatClose

+178

Tr 9%

12................£10914

-12

Tr 5%

12............. £1031732

-332

£116516

-332

14............. £1102332

-18

Tr 8% 13.............. Tr 5% Tr

7 34 %

12-15........£10614

£325732 £304116 Tr 212% IL 16 ....... £324516

-14

£142316 £1322132 Tr 834% 17 .......... £1352132

-1932

£147132 £1332732 Tr 8% 21................£13938

-14

Turkey

new lira

2.38

2.551

2.561

War

United States

dollars

1.56

1.633

£8334

£6712 War Ln 312%......... £741316

Last night, the pound was worth: $1.6330 (down 0.0006) ..... 1.1376 euros (down 0.0051)......125.57 yen (down 0.16) ..... Its trade weighted index was 79.70 (unchanged) Metals in $ per troy ounce: Gold 1513.50 (up 11.50) .......................... Silver 38.40 (up 0.40).......................... Platinum 1793 (up 2).......................... UK base lending rate 0.5%

Wednesday, May 11, 2011

LDP business .co.uk London market THE London market was boosted yesterday by a winning combination of strong Chinese trade data, hopes of a deal to solve Greece’s debt crisis and solid earnings reports. The FTSE 100 Index closed more than 1% or 76.2 points higher to 6018.8 after banking stocks were boosted by a report which indicated Greece was to receive a fresh round of aid to combat its debt mountain. Elsewhere, miners were lifted by figures from China, which showed its global trade surplus widening to £7bn in April, as import growth fell amid government efforts to cool an overheated economy. In the US, traders’ confidence was lifted by Microsoft’s takeover of internet telephone service Skype for £5bn. The pound slipped back on fears the Bank of England will downgrade its growth forecasts today. Sterling was down against the US dollar at 1.63 and off against the euro at 1.13. Mining stocks also benefited after bargain hunters moved in following last week’s slump in commodity prices, with Xstrata, 22.5p higher at 1442p, Rio Tinto, ahead 100p at 4235.5p and Antofagasta, up 17p, to 1220p. Support services firm Capita was 5.5p higher, at 741p, after it reported a record bid pipeline and signs of recovery in demand. The biggest Footsie risers were Schroders, up 93p to 1750p, Intercontinental Hotels, ahead 49p at 1298p, Sage, up 10.2p at 296p and Reed Elsevier, ahead 17.5p, at 549.5p. The biggest Footsie fallers were BG Group, down 23p at 1412p, Resolution, off 1.1p at 296.3p, Vodafone, down 0.5p at 169.6p and GlaxoSmithKline, off 1.5p, at 1302p.

IN ASSOCIATION WITH

market comment

LIVERPOOL’S INVESTMENT SPECIALISTS

Exchange CEOhopes mergerswill streamline globalrules LONDON Stock Exchange chief executive Xavier Rolet, who wants to merge with Canadian market TMX Group, hopes the current spate of international exchange mergers will help streamline global trading rules. “If you look at the existing exchange mergers, including the transatlantic mergers, there's not a unified regulatory environment,” he told a conference in London yesterday. “This is the greatest opportunity the financial crisis has presented – to unify regulation.” The LSE signed a $3.2bn agreement to join with TMX in February but this deal was overshadowed when Deutsche Boerse detailed its $10.2bn takeover of NYSE Euronext. The Boerse-NYSE deal was thrown into doubt last month when Nasdaq and the IntercontinentalExchange made a counter-bid for NYSE, valued at $11.2bn. The LSE chief executive said he hopes to set a precedent for cross-border regulatory harmonisation with the TMX deal, which the partners hope will complete in the third quarter of this year. “This transaction is the basis of one such framework between Canada and Europe, to enable firms to establish through a single listing the ability to raise capital in North America and Europe,” Rolet told the conference organised by The Economist Group, publisher of the Economist weekly. Exchanges and listed firms have complained that different national authorities impose different regulatory requirements, which can complicate listings in multiple jurisdictions

and restrict cross-border investment. Mr Rolet is keen to break down these barriers and enable the free flow of capital between Canada and the UK once the TMX deal is completed, a move that will offer European investors easy access to Canada’s strong stable of listed mining companies. ■ IRELAND’S pension industry will foot the bill for a “modest” package of measures designed to revive the jobs market, the Irish government said on Tuesday. “The direct stimulatory effect of today’s package of initiatives will be modest and there will be no extravagant claims made in that regard from this side of the House,” Finance Minister Michael Noonan told Parliament. “What the measures announced today principally represent are the first steps by this government towards improving the competitiveness of important sectors of the economy.” Dublin agreed the measures, which include a temporary reduction in the sales tax to some sectors, with its creditors at the International Monetary Fund and European Union on the

Merger bid: London Stock Exchange chief executive Xavier Rolet basis that it would not derail efforts to cut the budget deficit. To pay for the package, Noonan said Irish pension funds would have to pay a 0.6% levy for four years, raising 470m euros annually. It will not apply to pension funds based in Ireland that provide services to non-resident employers and members.

“The imposition of the levy is for a relatively short period,” he added. Irish dole queues have ballooned to 17-year highs due to a property crash and subsequent severe recession. Net emigration, banished during the boom years, has returned with a vengeance leading to fears of a brain drain.

For the latest business news, log on to www.ldpbusiness.co.uk

business diary Wednesday, May 11 THE IOP Business Forum will bring together business people, policymakers and educationalists to discuss current opportunities for physics-based business, and how businesses can ensure the graduates

they hire have the skills they need. It is at The Atrium, STFC Daresbury Laboratory, from 6pm-9pm. For more information, email business@iop.org Thursday, May 12 LIVERPOOL Chamber of Commerce will hold

its Digital Marketing Insight Conference, at FACT, in Wood Street. The event will cover subjects including social media and augmented reality. For details, visit www. liverpoolchamber. org.uk Thursday, May 12 UKTI Northwest is encouraging North West businesses to attend a free event to

find out about the latest Incoterms 2010 rules and how they can assist in international trade success. It is at UKTI NW, Trafford Park, Manchester. For more information, email events@ukti northwest.co.uk Tuesday, May 17 KNOWSLEY Chamber is hosting its latest Business to Business Networking & Enter-

prise Club at the Village Hotel in Fallows Way, Whiston. Attendance costs £12 for Chamber members and £18 for non-members. Wednesday, May 18 ST HELENS Chamber is hosting a seminar called “The benefits of effective health and safety management”. It will discuss how companies can create a positive safety culture.For

details, see www. sthelenschamber.com Thursday, May 19 SPEKE-based Choice Online has teamed up with Clearer Thoughts to run a second free social media marketing workshop. The event, which will be held at Clearer Thoughts in Bridle Way, Netherton. For details, see www. choiceonline.co.uk Monday, May 23

THREE free workshops have been arranged by LCVS United Way to help people looking to set up new social enterprises or community organisations. The first will take place at its offices in Dale Street on May 23, with others on June 22 and July 21. To book places, call Jane Peet on 0151 227 5177 or email info@lcvs.org.uk

Wednesday, May 11, 2011

LDP business .co.uk trading gossip ■

AS THE economic gloom continues to cast a bigger shadow than the more optimistic analysts had hoped for, Trading Gossip is delighted to bring some much-needed good news to local businesses. The “private sector lobby group and business networking club Downtown Liverpool in Business” – as it snappily describes itself – has been providing a platform for the views of its supreme leader Frank McKenna, below, for the last seven years. The announcement, which included that hallmark of the pretentious writer, the colon and its little brother, the semi-colon, no fewer than seven times expressed

IN ASSOCIATION WITH

LIVERPOOL’S INVESTMENT SPECIALISTS

the back page

Director seeking an old bath and a surfboard

working day

Kate Cowie is a director at Liverpool retailer Utility Design and chair of the Liverpool city committee for the North West Cancer Research Fund

8am: Get to our head office in Speke and have breakfast at my desk – yogurt and blueberries and a big pot of coffee. I have an early meeting with Richard & Dick (my two partners) to look through shop details for potential sites for our next store in London. Frank’s delight at reaching the “milestone”. We hope whoever it was that broke the mirror back in 2004 is truly sorry for what they did.

■

ONE city lady executive was delighted to have won a meal for two at a top city restaurant when her business card was plucked from the hat at a recent Fish! networking event. However, her delight turned to embarrassment when it became apparent she’d written her shopping list on the back. Good to know someone’s found a use for their business card.

LDP CREATIVE FOR the latest news from the creative sector

www. ldpcreative. co.uk

9am: Mark, our warehouse manager arrives and we check through all the deliveries from the day before. We have over 400 suppliers, so there may be up to 20 or so deliveries each day. Lots of nice new stock for the stores has arrived ready for spring, so we decide which products will be featured on our website and then allocate the stock so that each of the stores receives it as soon as possible. 10.30am: I open the post and receive a letter from the Giftware Association telling us that we have been short-listed in three different categories for the National Retail Awards – Best Gift Retailer – North, Best Jewellery Retailer and Best Retail Employee of the Year. It means a trip to London to an awards dinner, and fingers crossed we will do well and win at least one award. 11am: Meet with a new local supplier, Palm Sugar, to select and order a range of confectionery. 12 noon: Have a catch-up phone call with Anne Jackson, chief executive of North West Cancer Research Fund. As I’m one of the trustees of the charity and chair of the Liverpool fundraising committee, we discuss the success of our two recent events at Puschka and The Hope Street Hotel where we raised over £3,000 for the charity. I compose thank you letters to all our sponsors and those who donated raffle prizes. The charity funds vital research into the causes of cancer, and relies heavily on support from the public, so we’re really grateful to everyone who helped out at the event and made it a huge success. 1pm: We have a visit from a new jewellery supplier, based in South Wales, called Blaze. Selecting new and exciting products for the stores is the best part of the job and we choose some

Grateful to all our fundraising supporters – Kate Cowie, director at Liverpool-based retail group, Utility Design lovely pieces that will feature in all our stores throughout the next season. Because we have so many regular customers, we make sure that we have new products arriving every week of the year, so that there is always new stock to see on every visit. 1.30pm: Answer all the morning’s emails and drive into city centre via Delifonseca to pick up lunch. 2.30pm: Visit our new store in Liverpool One and do a walk of the whole store with the manager, Adam. We look at what is working in the store, what we might need to change, where we can improve merchandising displays and complete an action plan of all the key tasks for the next week.

4pm: I hold a meeting in our Home Store, in Bold Street, with our “window champions” from each store, to discuss the schedule of what theme/products will feature in our windows for the next quarter. We pride ourselves on having great, eye-catching, bright and fun displays and use the creative talents within the team to how each one will look. This involves us agreeing which products will feature, ensuring that they will arrive on time and sourcing any props that we might need. This month, I have tasked the team to find some bunting, an old bath, a surf board and an easel – watch this space. 5.30pm: Hold meeting in Leaf with members of my fundraising committee

to interview potential caterers for the North West Cancer Research Fund Annual Butterfly Ball, in September. We are holding the event this year in the Crypt at the Metropolitan Cathedral. The venue itself is amazing, but we need the caterers to come up with a menu that is contemporary and exciting and really has the wow factor, so that people are talking about the event for months afterwards. 6.30pm: Call all stores on the way back to check daily targets have been met and discuss how the day has been. 7pm: Get home and then quick shower and change. Walk round the corner to Chuba Chuba, on Allerton Road, for lovely Thai food with some friends.