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5864.65 ▲ 1.49 THE London market ended slightly higher as lower oil prices hit the energy sector and overshadowed a strong session for UK insurers. The oil and gas sector weighed on the market as crude oil on the New York Mercantile Exchange for July delivery dropped 0.2% to $98 a barrel. The cost was driven down by the prospect of slowing US economic growth and expectations that OPEC members will vote today to boost production at the organisation’s member meeting in Vienna, Austria.

B&M sales surge 29% to break £500m mark EXCLUSIVE by Alex Turner

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alex.turner@liverpool.com

SPEKE retailer B&M Bargains smashed through the £500m sales barrier last year, as it enjoyed a phenomenal year of growth. LDP Business can reveal the retailer’s holding company, Firesource, recorded sales of £549m in 2010 – an increase of £122m. It added £85.9m to its continuing operations, while it also acquired Opus Homewares last August, which added £36.5m to its top line. The company pointed to a “continued focus on its retail standards” for a rise in customers.

MARKET REPORT: PAGE 15

Pre-tax profits rose £3.7m to £35.8m, and with no dividends taken, the retained profits boosted shareholders’ funds to £64.5m. The group paid £40m in cash for Opus Homewares – with assistance from Barclays – with a further £5m deferred. B&M Bargains’ owners, Simon and Bobby Arora, were also directors of Opus Homewares, but its ownership was spread around extended family and family trusts. The company has been incorporated into B&M Retail since the year end, but for the period to December 31 continued to trade as a separate Firesource subsidiary. The move expanded B&M’s reach

into Scotland and Northern Ireland, as well as increasing its presence in retail parks. B&M’s aggressive expansion is continuing and a fortnight ago it bought 11 stores from the administrator of collapsed DIY retailer Focus, with 211 staff moving over to the discount retailer. The retailer had just 21 stores and was breaking even on annual sales of £68m when brothers Simon and Bobby Arora bought the group in 2004. Last year, it had added another 80 stores to take its total to 229. It now employs more than 7,000 people, including about 600 at its head office in Speke. It moved from Blackpool to a 625,000 sq ft unit, called The

Vault, at the Estuary Commerce Park last summer, with the assistance of a £10.85m funding package from Lloyds TSB Corporate. Firesource’s bank loans increased during the year to £46.8m from £10.5m. At the year end it had a healthy cash balance of £28m, up £12.4m, and stock levels of £81.9m, almost double the 2009 figure. B&M Bargains is a discount retailer which stocks a wide range of goods from food and drink to beauty products to furniture. Joint managing director Simon Arora has previously described the company’s mantra as “if we can’t be the lowest price, we shouldn’t be selling it”.

Blooming great move for Hallmark

inside

Corporate clients boost for Medicash HEALTHCARE cash plan provider Medicash was boosted by a record take-up of corporate plans as it enjoyed a solid year’s performance. PAGE 2

AN INDEPENDENT importer and distributor of fresh flowers has invested £480,000 to purchase trading premises which are more than double the size of its previous home. Hallmark Flowers has moved to a 13,000 sq ft property in Burscough Industrial Estate after securing funding from NatWest commercial banking. The company previously traded from a rented 6,000 sq ft property on the same estate. Established in 2000, Hallmark specialises in the import and distribution of fresh flowers to the wholesale sector in the UK and Ireland. Managing director John Sloan said: “The space limitations at the previous premises had started to constrain the business.”

Port rail plan THE Port of Liverpool could resurrect proposals to link the city’s docks complex with a train link to the heart of Europe. PAGES 4&5

Law letting CORPORATE law firm Weightmans has agreed to take 90,000 sq ft of office space at Bruntwood’s Plaza development, in Liverpool city centre. PAGE 12

Hallmark Flowers managing director John Sloan, with Julie Thistlewaite, from NatWest

BUSINESS EDITOR: BILL GLEESON 0151 472 2319

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BUSINESS REPORTER: NEIL HODGSON 0151 472 2451

BUSINESS REPORTER: ALISTAIR HOUGHTON 0151 472 2449

BUSINESS REPORTER: ALEX TURNER 0151 472 2321

BUSINESS REPORTER: PETER ELSON 0151 472 2502

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Book now to be at business awards JUST three weeks remain before the winners of the 2011 Liverpool Daily Post Regional Business Awards are announced at a glittering awards dinner. The 20th annual awards are being held at Liverpool’s Anglican Cathedral on Thursday, June 23. The full shortlist can be read online at www.regionalbusiness awards.co.uk John Timpson, the chairman of shoe repair and key-cutting chain Timpson, will be the event’s keynote speaker while the night will be compered by journalist-turnedcelebrity dancer John Sergeant. 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. ■ 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.

Corporate clients putting Medicash in good health by Alex Turner

LDP BUSINESS STAFF

alex.turner@liverpool.com

HEALTHCARE cash plan provider Medicash was boosted by a record take-up of corporate plans as it enjoyed a solid year’s performance. The mutual, which was founded 140 years ago, said the take-up of corporate plans was 20% better than its previous best. Client wins included law firm DWF, GMG Radio, Arena and Convention Centre Liverpool and Chess Telecom. Accounts just filed at Companies House showed premiums written fell £550,000 to £20.4m in 2010, which it blamed on “continuing pressure on household disposable income and redundancies”. It combated this by cutting operating costs by £870,000 through “strong cost control and a reduction in legal fees”. Claims paid out fell fractionally, to £16.3m. Medicash’s chief executive, Sue Weir, said: “We are pleased with the results which have been achieved through a combination of product innovation, an increased focus on the corporate market and the commitment of all the staff. “We operate in a challenging healthcare market and are constantly researching and developing our products to respond to the changing demands of customers. “In a climate where pay rises and expensive perks may well not be viable options, employers are under more pressure to find solutions around attracting, maintaining and rewarding quality people.” Pre-tax profits were halved, to £2.34m, but the fall was down to a much lower unrealised gain on investments, of £1.22m. However it did make a net gain of £270,000 in realising some investments. The lower profits were the result of the markets being less bullish – during the 2009 financial year, the FTSE 100 gained 19% while last year it rose 9%.

Medicash chief executive Sue Weir – ‘pleased’ with the performance of the mutual in 2010 Its 2009 accounts also benefited from a £1.27m increase in the value of its John Braddock and Mary Bamber Convalescent Centres and cottage, in Colwyn Bay.

Medicash has been shortlisted in this month’s Liverpool Daily Post Regional Business Awards. It is up against construction firm Balfour Beatty Capital and housing

association Riverside for the Jaguar Land Rover Corporate Social Responsibility award. It was previously runner-up in the CSR category in 2005 and 2007.

Liverpool Business Week draws in entrepreneurs THE city’s leading decision makers will be out in force later this month to discuss how businesses can drive growth and attract inward investment into Liverpool. Liverpool Business Week, a five-day event organised by

Downtown Liverpool in Business (DLIB) and Liverpool Vision, gets under way on Monday, June 20. Key issues will be addressed, including Liverpool City Council’s plans for economic development and

the city’s entrepreneurial culture. Speakers at each of the events include American entrepreneur and policy chief at the Kauffman Foundation Jonathan Ortmans, city council leader Joe Anderson, prop-

erty tycoon and Wolverhampton Wanderers Football Club owner Steve Morgan and tea shop owner Natalie Hayward. “The week will focus on some of the key challenges that are facing the city and its business community,” said

Frank McKenna, chairman of DLIB. “Our speakers are some of the most seasoned entrepreneurs who have a depth of knowledge and an ability to provide valuable business insight to our delegates,” he added.

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profile

Back-street bookie who’s now a big player in the sport of kings

Fred Done used to be a runner in his father’s illegal betting business – but he now runs a company handling £4bn in bets every year

Tony McDonough talks to FRED DONE, founder and CEO of Betfred IF YOU pardon the cliché, Betfred could accurately be described as the dark horse of the UK betting shop sector. While the likes of William Hill, Ladbrokes and Coral have been household names for many years, a outsider has been quietly coming up on the rails. Fred Done and his brother, Peter, opened their first betting shop in Salford in 1967. In the years leading up to that, the young Fred had worked as a bookie’s runner in his father’s illegal betting operation. The Warrington-based firm now operates more than 800 high street bookmakers across the UK, and takes around £4bn in bets every year. Now Betfred is stepping up onto an even higher level, after it won a bidding war to acquire the Government-owned Tote, in a deal worth £265m. It beat off competition from a consortium led by British Airways chairman and former Liverpool FC

chairman Sir Martin Broughton to land the on-course and betting shop chain. The announcement at the end of last week was a proud moment for Fred Done, who said buying the Tote satisfied a long-held ambition. “Buying the Tote has been an ambition for years, so I am absolutely delighted,” he said. “The Tote is an opportunity I just could not miss. I love racing and I believe we have the greatest in the world. “Over the coming months, I will develop the Tote’s relationship with the sport into a highly successful commercial partnership.” That relationship could initially prove to be strained. Betfred apparently wasn’t the industry’s first choice. Some racecourse owners are said to be unhappy at allowing a private owner of the Tote automatic access to their facilities, though Betfred has committed to the establishment of the Tote Racing Development Board. Done himself acknowledges the concerns of the industry, but he insisted that, in the hours following the announcement, a lot of goodwill started to flow in his direction. He said: “Yes, it is fair to say we were not everyone’s first choice, but

since the announcement was made I have had a load of texts and calls from people in the industry saying ‘OK, now let’s work together’.” There are not many business people who would admit to starting their careers on the wrong side of the law, but racing and gambling loves its characters, and Done’s illicit early days adds to the romance of the rags to riches story. Prior to 1961, off-course betting was illegal in the UK, but the working man’s love of a flutter on the horses spawned a network of backstreet bookmakers. One such entrepreneur was Done’s father. He said: “I was born and brought up in Salford, and during the school holidays I used to work for my dad, who was an illegal bookmaker. “I was what’s known as a bookie’s runner, and I would go to shops and factories and take people’s bets and take them back to my dad. “My main ambition as a teenager was to play for Manchester United, but that was never going to happen. “However, the ambition to run my own business grew within me and I have worked and worked to make this business successful. “There have been some tough days over the years, but there has never

been a day when I didn’t enjoy what I was doing.” The second Done Bookmakers shop was opened in Salford in 1969 and the chain steadily grew until by 1997, it had expanded to more than 100 outlets. It was credited in 1984 with the invention of the Lucky 15 bet, now a favourite with punters across the country. Done also made headlines in 1998 when he took the decision to pay out early on Manchester United winning the Premier League, only to see Arsenal pip them to the title. Despite the £500,000 cost to the firm, it turned into a brilliant PR coup, significantly raising its and Done’s profile. In January, 1999, the company expanded with the acquisition of 40 outlets from Demmy Racing Group. The Betfred telephone betting service was started in 2002, and in 2004 the company relocated its headquarters to Warrington. This was shortly followed by the launch of Betfred.com Wigan-based Tote has 517 shops, an online business and an on-course pool betting business which operates at all UK racetracks and was set up by an Act of Parliament in 1928. It employs more than 4,000 people,

and last year injected around half its profits back into the industry. Taking on the Tote shops, which are to be rebranded, will make Betfred a major player in the UK bookmaking industry. The deal will increase the size of its estate to more than 1,350 shops and make it a “fourth force” in the bookmaking industry behind Gala Coral, William Hill and Ladbrokes. Mr Done, who is 68 and is Betfred’s executive chairman, said buying the Tote had been an ambition of his for many years and an opportunity he could not miss. In an apparent battle between old and new money in the closely-knit racing world, it is thought Warrington-based Betfred got the nod from ministers because its offer was less likely to breach state aid rules. Betfred also claimed its deal was worth £45m to racing. Done added: “The good thing is that the Tote has gone to a bookmaker who knows what punters love. “We will have integrated the two businesses by January, 2012. “Combined, they employ around 9,000 people, and we are going to push that above 10,000 – that is a promise. “This has been an incredible day for me and the family.”

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Direct docks rail link to industrial heart is back by Neil Hodgson

LDP STAFF

neil.hodgson@liverpool.com

THE Port of Liverpool could resurrect proposals to link the city’s docks complex with a train link to the heart of Europe. Prior to the 2005 takeover by Peel Holdings, the port had mooted plans to establish a direct rail link from the river to the Italian industrial heartland of Milan. Now, new proposals by Peel Ports to transform Liverpool’s docks and the Manchester Ship Canal into a 44-mile “logistics platform” could see a European rail link become reality. Peel unveiled a 20-year development strategy yesterday which outlined plans for expansion that it said will establish the port and the canal as an “integral part of the supply chain” and not just an entry point. Shifting more freight from the roads onto rail is a key element, and Mersey Ports managing director Gary Hodgson told LDP Business that the group was once again seriously looking at a direct rail link to Europe. It is estimated that transporting containers by rail from Liverpool to Milan would take 18 hours, compared with three days by sea. Mr Hodgson said: “95% of cargo goes out of the port by road and we want to shift that to 70-75%. Whether we get a direct link, time will tell, but there are different options for the development of rail, for sure.” He said Milan is not on their “wish list” at the moment, but added: “A rail link to the heart of Europe, why not? “We have the rail links to Liverpool. It is a question of how we link that up to Europe. “For example, it could be more attractive for a vessel from America to dump everything here and rail it to Europe, but we haven’t had that discussion yet.” A major step to opening up direct rail links was taken in 2008 when the Government approved plans to re-open the Olive Mount chord connecting the port to the West Coast mainline. The 300-metre stretch of track between Olive Mount Junction and Edge Lane Junction was

Mersey Ports managing director Gary Hodgson pictured at the Seaforth headquarters of the dock operation, which aims to closed after a signal box fire in 1988. But its re-establishment will improve freight links to the UK’s main rail network, removing the need for reversing at Edge Hill and crossing lines in and out of the city’s busy Lime Street main station. The rail link was one of several proposals by

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Mersey Ports that it says could create 7,500 jobs in a £500m investment over the next 10 years. And Mr Hodgson said that could double in the 10 years following the initial investment: “It doesn’t stop with the investment, but time will tell.” Currently, 30% of all international trade is by containerisation, and that is expected to grow by 50% in the next 20 years. Peel revealed plans to increase capacity on the River Mersey with a £250m investment in a Seaforth river berth handling bigger container ships which will ply the seas after the widening of the Panama Canal in 2014. He said: “We believe we can gain a share of that extra market of vessels coming through the widened canal.” The river berth could handle vessels carrying up to 15,000 containers, compared with current ships which can only carry 3,500 containers. An increase in roll-on roll-off freight traffic could also be accommodated at another in-river berth which the port already has Government consent for near Trafalgar Dock, almost opposite a similar development at Twelve Quays, in Birkenhead. Mr Hodgson said the Trafalgar Dock facility has not been developed yet because economic conditions on the Irish Sea did not warrant it. “We’re probably a few years away for Ireland, but it could be a multi-use facility,” he said. He added one side of the river berth could provide ro-ro services, while the other could support wind farm operators, which is another area targeted by Mersey Ports for expansion. He said hundreds of wind turbines will be located in the Irish Sea, providing new opportunities for the wind farm supply chain:

“There will be a demand,” he insisted. Another area ripe for development is biomass energy and the port wants to build a biomass power plant, valued at between £200m to £300m, funded by a third party. Wood-burning biomass plants are proposed throughout the UK – transport group Stobart has announced plans to build its own biomass plant at its Widnes multi-modal facility – and Mr Hodgson said the burgeoning industry could mean big business for the port: “We would have to import wood from Canada, the US and Brazil and it makes sense to bring it in through a port.” Bulk cargoes, such as steel, vehicles and forest products, can help generate even more growth, he added: “We don’t do business with two major car plants on our doorstep, and we believe we can do that.” Peel says significant increases in trading volumes for containers, ro-ro freight, vehicles, biomass and forest products can help deliver compound annual growth of 2.52% by 2030 for the port, which is more than double the Government’s 1.1% national ports target. A massive redevelopment of London’s docklands is planned, but Peel has urged the Government to back its plans to turn the Port of Liverpool into an economic powerhouse. “Unless we develop, everything is going to be crammed down in the South-East. “The Government talks about rebalancing the economy of the UK. This strategy plays to the heart of rebalancing the UK economy.” After a period of public consultation, the Mersey Ports strategy will be finalised by December, but will be re-visited every five years, including the opportunity for more public consultation.

Wednesday, June 8, 2011

European on agenda

exploit a growth in containerisation, pictured above, fuelled by bigger vessels Main picture: COLIN LANE/ tmcl070611peel-5

Demand for biomass rockets in UK INCREASED demand for biomass fuels in the UK may provide a new type of valuable import trade for local ports. Biomass is a renewable, low-carbon fuel that is being used increasingly in the UK, with many new power plants being approved and proposed across the country. The Port of Liverpool Power Station is one of these proposed new facilities and is expected to come into operation some time in 2015. This new biomass power station has been proposed by port owner Peel Ports, as part of a wider plan unveiled yesterday to build new shipping facilities in the area. It is hoped that biomass will provide a potentially profitable new trade for the city. The power plant will require 80% of its fuel to be imported from foreign countries such as the United States, Canada and

Brazil, and may prove a very profitable business for the countries involved. BP’s assessment is that biofuels could account for 11% to 19% of the transport fuel market by 2030, and up to 30% is possible if certain barriers are addressed. According to the EU’s Renewable Energy Directive, all 27 member countries are obliged to provide 10% of the total transport energy requirements for renewables such as biofuel by 2020. This means the government must get a move on if this deadline is to be met. Sales and usage of Biofuels are sure to rocket in the coming years. Ethanol is one of these fuels (pure alcohol) and burns in much the same way as petrol or other fossil fuels. Its biggest exporter is Brazil. Biomass facilities use fuel such as wood, waste crops or other organic material which is burned

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to produce energy, similar to other types of power plants that use fossil fuels. Even though carbon dioxide, a greenhouse gas, is produced in the burning process, it is cancelled out due to the plant absorbing carbon dioxide as it grows. This absorbed gas is then released back into the atmosphere when the plant is burned, and so no new greenhouse gases are created in the process. Biomass fuels are also a renewable resource which means they will be around for a very long time to come. Whereas fossil fuels take millions of years to create naturally, fast growing crops can renew themselves in a matter of months and trees a matter of years. If crops and trees can be carefully managed and maintained, there is no reason to suggest that we will not be without electricity and transport fuels for many years to come.

UK house prices fall in May HOUSE prices fell at their fastest annual rate for 19 months during May as buyers continued to stay away from the market. Homes lost 4.2% of their value during the past year, based on average prices during the three months to the end of May, compared with the same three-month period of the previous year, according to Halifax. It was the biggest annual drop recorded since Oct-

ober, 2009, and left the average home costing £160,519. Prices also continued to drift lower on a quarteron-quarter basis, which is generally seen as a smoother indicator of market trends, with homes losing 1.2% of their value on this measure, unchanged from the drop recorded for the three months to the end of April. The typical home now costs 1.4% less than it did at

the start of the year, although prices edged ahead by 0.1% during May itself, following a steep 1.4% drop in April. Martin Ellis, Halifax housing economist, said: “Low earnings growth, higher taxes and relatively high inflation are all putting pressure on household finances. Confidence is also weak as a result of uncertainty about the economic and employment outlook.”

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Liverpool chosen for site of first Simply Be outlet EXCLUSIVE by Alistair Houghton LDP BUSINESS STAFF

alistair.houghton@liverpool.com

FASHION brand Simply Be has chosen Liverpool as the site for its first high street store. Parent company N Brown announced earlier this year that Simply Be, which sells fashionable clothes for plus-size women, was moving onto the high street for the first time. The brand already generates annual sales of more than £100m through its website and catalogues. And Alan White, chief executive of the Manchester-based home shopping group, told LDP Business that the first Simply Be store was to be in Liverpool. He said: “We hope to get a couple of stores open this side of Christmas. “We are hoping to conclude on one in the Liverpool One area. “That will be our first major store. “We are also negotiating on a store on the north side of Manchester,” he added. “We wanted to have our first stores in the North West because all our

managers and distributors are in the North West, so we can give the stores a lot of close attention. “We want to open two or maybe three stores in September or October this year, then three or four next spring. “Then we’ll evaluate it in 2012.” N Brown also owns brands such as Jacamo and Marisota, as well as the High & Mighty chain of stores. Mr White said the group had chosen to move the Simply Be brand onto the high street because it filled a gap in the fashion market. He said: “This business is for the plus-size customer, but it’s the plus-size customer who wants high fashion. “That customer’s natural shopping habitat is the high street, but they have a poor shopping experience at the moment. “There’s nothing for the fashionable, plus-size customer. “We have designed a shopping concept which we believe will not only generate sales in these stores but will also, by building the brand, give us an incremental increase in home shopping sales as well.”

Alan White, chief executive of home shopping company N Brown – high street shopping concept will build our brand

news

Business presence at tennis MEMBERS of Professional Liverpool have been invited to attend the Liverpool International Tennis Tournament next week. The Professional Liverpool Day will take place on Friday, June 17, and will offer the organisation an environment to entertain clients and their team. The idea came about following the cancellation of the Boat Show earlier this year. Tournament organiser, Northern Vision, is keen to make sure the event is well supported by the city’s business community. Pro Liverpool chief executive John Hall said: “We are pleased to be able to provide our members and their guests with a networking opportunity in relaxed convivial surroundings.” ■ TOURNAMENT bringing tennis to the masses: See Page 10.

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Government should listen closely to the voice of small businesses

Matt Johnson GOVERNMENTS never go short of advice from people telling them what to do. Lobby, or more accurately, pres-

sure groups spanning a myriad of sectors and interests are not backwards in coming forwards with ideas on how things could be done differently. The effectiveness of this type of activity varies significantly – especially in our existing coalition structure. For example, would we have had the recent “pause for thought” on NHS reforms without some gloves-off lobbying from within the NHS and the Liberal Democrat Party? This week, it’s been economic policy (as well as the NHS) that has been taking another regular turn in the spotlight. The International Monetary Fund has given its view of the

British economy – and in doing so passed a form of judgment on those with their hands on the controls. The Federation of Small Businesses (FSB) has also weighed in with its tuppence worth of advice for the Treasury. It claims small firms would employ new staff if the Government reduced National Insurance Contributions (NICs). According to the FSB, SMEs continue to be stifled by challenges that affected them during the recession, including late payments from other firms and what they perceive to be a lack of

support from the banks. Despite tentative economic growth, many small firms say these issues continue to prevent them from taking on staff. In the midst of such unprecedented efforts to cut the national deficit, and the impact these actions have on the public sector, the voice of the FSB – and others like it – need to be heard. Not least because there are currently 2.46m people out of work. It is surely crucial that the Government provides incentives to help small businesses to take on staff and tackle this level of unem-

‘Vital to provide help so that SMEs can hire’

ployment. The Government introduced a NICs holiday for start-ups that take on up to 10 employees in 2010, but the FSB believes this does not go far enough. It is urging the Government to extend the NICs holiday to existing firms with up to four members of staff that take on up to three new employees. The numbers may be small – but across territory as large as the UK’s SME sector – they matter. It’s vital that small firms are not prevented from taking on staff, as they are going to promote recovery. ■ MATT JOHNSON is chief executive of Mando Group

Minister highlights Mersey plants’ export success LORD Green, Minister of State for Trade and Investment, visited Liverpool yesterday to meet three of the best export success stories in the region. The minister spent time with engineering firm Clarke Energy in Knowsley, lubricants maker RS Clare & Co in Toxteth, and carmaker Jaguar Land Rover, in Halewood. All are major exporters and are seen as potential contributors to any export led recovery. Lord Green was visiting Merseyside to highlight the importance of international trade following the launch of the new UK Trade and Investment’s (UKTI) strategy, Britain Open for Business. Lord Green said: “Local growth is how we will strengthen our wider economy and improve our standing internationally. “New companies are being started all the time by young, talented individuals after finishing education and are an integral part of the market.” UKTI has pledged to support Britain’s future prosperity by promoting business success in international markets, building on plans to cre- Trade minister Lord Green pictured during his visit to Liverpool’s RS Clare yesterday Picture: JASON ROBERTS/ jr070611minister-1 ate a competitive economy.

JLA hails May performance as passenger figures soar by Alex Turner

LDP BUSINESS STAFF

alex.turner@liverpool.com

LIVERPOOL John Lennon Airport (JLA) enjoyed its second-busiest May in its history, as passenger levels continue to soar above those of the recession-hit years. The latest figures showed 490,497 people used the airport in May – more than 70,000 people more than in 2009. It was the highest level achieved since 2007, which was boosted by Liverpool FC’s appearance in the Champions League final in Athens.

The strong figures in May followed a record April, when the late Easter, staggered school holidays and the Royal Wedding bank holiday encouraged 490,831 people to travel from or to Liverpool. Robin Tudor, Peel Airports’ head of PR, said: “The increased passenger throughput seen in April has continued in May, too, with passenger volumes back to levels last seen in 2007. “Thankfully, the volcanic ash cloud had little effect on business at the airport this year, and once again it would appear that the staggering of school

holidays for the Whit half-term break brought additional holidaymakers towards the end of the month, too.” In the first five months of 2011, 2.03m people have passed through JLA, 7% higher than last year and 12% above 2009 levels. A number of routes started in April, including Toulon, Rhodes, Kos and Tallin, which has helped increase traffic. In addition, existing routes are enjoying an increased load factor – a measure of capacity. Mr Tudor added: “Additional services started by Easyjet and Ryanair to a variety of new summer sun destin-

ations is already starting to have an effect, while flights with nearly all carriers have been operating with greater passenger numbers per flight compared to last year.” The airport is on track to increase traffic to its highest annual total since Liverpool’s year as Capital of Culture in 2008. 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.

Cybertill crowned for EPoS system KNOWSLEY firm Cybertill claimed a prestigious award at IBM’s recent annual retail conference, entitled Making Retail Smarter. Cybertill was shortlisted for and won The Innovation Award for its cloud-based EPoS system. Attending the conference in the Hague was Cybertill chief executive officer and founder, Ian Tomlinson, who said: “This is a great honour. “To be recognised by IBM across Europe for our innovation is a real fillip. We were the world’s first company to offer a cloud-based EPoS system and now more and more retailers are turning to the benefits of cloud to help them manage their retail, e-commerce and mail order businesses.” Cybertill makes its solutions available as a web-based managed service over a virtual private network. The result is a powerful, real-time, cost-effective solution for all commercial retailers. Cybertill has become a major player in the EPoS systems market with clients in non-food retailing such as fashion, footwear and accessory shops. It has removed the barriers of technical complexity, risk and affordability for smaller businesses. The 2011 retail summit this June focused on providing insights to IBM’s Making Retail Smarter strategy, along with many specialised sessions and seminars, specifically for many of Europe’s competitive leading retail technology providers.

Wednesday, June 8, 2011

LDP business .co.uk Bill Gleeson Peel’s expansion plan could get stuck in the mud AS ROWAN Atkinson might tell you, the extent to which the natural environment is protected by law is no laughing matter. The comedian was half way through building an architect-designed glass and steel home in the Oxfordshire countryside when a rare species of worm was discovered. The discovery of up to 30 of the 12-inch long slow worms meant work had to stop on what was undoubtedly a multi-million pound project. Given that level of intervention on behalf of a small number of worms, how much more trouble is Peel Ports going to have when it seeks to convert the Seaforth Nature Reserve to port-related uses, such as parking containers. As a Site of Special Scientific Interest (SSSI), the rules are pretty onerous. Peel will have to show that there is a very strong public interest case for the site to be converted to a new use that will effectively destroy the habitat of thousands of wintering wading birds, sea birds and breeding terns. Indeed, it is said to be one of the most important coastal habitats for birds in the country. So what can Peel say to overturn the SSSI status? Without doubt, the plan to convert the nature reserve to dock use is in Peel’s interests. The site would be used to support the planned £200m in-river postPanamax terminal that could handle the world’s biggest container ships. If Peel’s River Mersey operations are to compete with its rivals on the Humber, Thames and the Solent, it will need these new facilities. The new in-river quayside would also serve the interests of the wider Merseyside economy. Port related business accounts for tens of thousands of local jobs. But is it in the national interest to convert this SSSI into industrial use? No doubt pressure groups

will argue not, pointing out that the world’s biggest container vessels are already served by facilities elsewhere in Britain. It has surprised me to discover the importance of this muddy coastal stretch to Britain’s bird life. Wedged between Seaforth Dock and the densely populated suburb of Waterloo, the nature reserve is not located on what might seem to the lay observer as a promising site. It’s not exactly a classic area of outstanding natural beauty, but apparently the Mersey mud is ideally suited to the birdlife. Peel’s challenge could be made tougher by the publication yesterday of a new, government White Paper, The Natural Choice. It is the first White Paper about the natural environment in 20 years, and it is directly linked to research in the National Ecosystem Assessment published last week that argued there are strong economic reasons to protect and enhance the natural environment. It will be very interesting indeed to see who wins out in the end – the dockers or the birds. Perhaps Peel will need to take a leaf out of the book of Mr Atkinson’s Blackadder alter-ego and come up with a cunning plan. IT’S hard to know what to make of the International Monetary Fund’s (IMF) latest assessment of the UK economy. On the one hand, Chancellor George Osborne was delighted to trumpet the IMF’s continuing support for his recovery plan, but, on the other hand, it downgraded its forecast for economic growth in Britain. The IMF’s decision to downgrade its forecast appears justified by a couple of statistics published yesterday that showed declining retail sales and house prices. In the light of these figures, the recovery still seems too precarious.

Rising prices le

Global high coffee prices are still showing little sign of falling back. Alex Turner reports IN A unit at Millers Bridge Industrial Estate, in Bootle, John Pye is showing me how the rising cost of coffee on the world markets is affecting his business. The co-owner of Joe Black Coffee and Tea pointed at the 60kg sacks that he has in stock, waiting to be blended and roasted, before being packed and delivered to cafes, restaurants, hotels and companies across Merseyside and farther afield. “That coffee,” he said, “has increased from £1,900 for a metric tonne to £3,000. This one has gone from about £2,000 to £4,500.” A 34-year-high in coffee prices which has sent prices spiralling to more than double their usual level, meaning he can no longer absorb the costs. “The price has not really gone down in the last 12 months. It’s just gone up and up,” he said. “When they go up and down a little, we just leave the prices, but when they go up a lot we have to raise prices.” He set up the company in 2008 after 12 years working for Liverpool roaster Bellows, which has since merged into his operation. He supplies his coffee into places as diverse as a Liverpool One outlet and Rothschilds bank in Manchester, while if you get a whiff of coffee while walking along Hope Street, then it’s almost certainly one of his. He is phlegmatic that while some of his customers, who appreciate the value in Joe Black’s product, will accept the rise, there are others that won’t. It is a similar situation at Wirral coffee roasters Adams & Russell. Director Frank Eaton recounted the tale of one customer who bought coffee off the internet in search of cheaper prices before realising his mistake when he tasted it. He has also seen sharp rises in the prices he is buying at, but points out that by the time the roasted bean gets to the cup, the impact on price is minimal. Mr Eaton said: “Each shot of coffee is seven grammes, so there are 140 shots of coffee in a 1kg bag. Each shot works out at 7-8p. “It’s very profitable to sell a cappuccino for £2.50 – your coffee is 7p, your milk is 7p, you can make £2 a cup but it’s no good selling 50 cups a day. “But because they are small value items, they have got to sell a hell of a lot of coffee, so although their margins on each cup are quite high, net margins aren’t because of the retailer’s overheads. “That’s the big problem. People don’t realise how much business you have to do to cover rents, while the investment in terms of coffee machines is a lot – you can pay up to £10,000.” However, he is unconvinced that the spike in the global price for coffee is wholly the result of adverse weather or overwhelming demand. “Because the originating countries are getting more for their coffee, they are going to hold back sales because it will keep the price high,” he said. “The crop in Columbia has not been as good this year, which is what started a little bit of a run, but it’s the speculators

The price of coffee has soared from 140¢ a pound to a peak of 310¢, in the last year Picture: COLIN LANE/ tmcl060611coffee-4

that have forced the price up.” He believes that being small enables Adams & Russell to mitigate against the worst of the rises. “Because we are small, we have got a bit of flexibility and dip in to the market when the price drops,” he said. “A really big company can’t do that as they have to have the coffee stock. “Our margins have been hit but we are riding it out and buying when there are dips. “We have picked up business because our competitors are going out of business or the big boys are insisting on minimum orders because fuel has gone up.” Schluter is a coffee trader specialising in African coffee. The Swiss company has an office in Speke, headed by Phil Schluter, who is part of the sixth generation of the family firm which has been in existence since 1858. He points to supply-side problems for causing the spike, as well as the market looking to find a “sustainable” price. “The fundamental cause is the lack of deliverable coffee – that was what started it,” he said. You could see it first in

‘The price has not gone down in a year’

Columbia. The market price that was quoted for arabica is a deliverable price. It must be a certain grade of coffee to be deliverable. “Of the deliverable coffee in the world, about one-third is from Columbia. They had a big drop [in its harvest] about two years ago. “All coffee trades against the market at this base price and then either trades at a premium or a discount. “Columbian went from trading at the market price for coffee, or a little above, to a 100% premium to the market – that is, double the price – in about February, 2010. On the basis of that, the market started taking up in June, 2010. “There was a real fundamental reason – it couldn’t produce and deliver at the price the market was quoting. “The spike in the oil price up to March, 2008, which affects the price of fertiliser, also meant people couldn’t afford to look after their crop.” While Mr Schluter doesn’t expect the current high levels to become the base level, he does think it will result in a permanent readjustment. “We are coming out of a 10-year period of low coffee prices,” he said. “The feeling is that the prices we have

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eave bitter taste

John Pye, of Joe Black Coffee and Tea, oversees the beans coming out of the roaster Picture: COLIN LANE

Farmers benefit from huge rise in world market prices lived with were too low, but the current prices are too high. “The current spike is unsustainable. The new base will be about 150-160¢, up from 100-120¢.” He added: “The main impact is high volatility. It was up 5% on Friday, down nearly 3% on Monday. The daily movements in coffee is about double the old monthly movements.” The International Coffee Organisation (ICO) is forecasting high prices to remain for two years, because of the time it takes to increase supply. ICO estimates that global coffee consumption, which is measured in 60kg bags, rose 2.4% to a record 134m bags in 2010, while world 2010/11 coffee output is forecast at 133m. UK imports rose 14% between 2007 and 2009, to 3.22m bags, representing 2.5% of world consumption. As coffee trees take around three years to produce a crop, output is not keeping pace with demand. “When you invest today, it will take you a three-year minimum to get an output from the investment,” the International Coffee Organisation’s chief economist

Denis Seudieu said. “Based on this hypothesis, the relatively high prices will need to be maintained for another two years because the supply response takes time.” Brazil, the world’s largest coffee producer, is expected to see yields increase on the back of increased fertiliser application and better husbandry, analysts said, although they expect it will not be until the 2012/13 Brazilian harvest that there will be supply-side relief. Vietnam, the world’s top producer of robusta, a bitter tasting bean often used in instant coffee, is also not in a position to provide immediate relief. The steep rise in coffee prices has prompted coffee roasters to caution that expensive beans could encourage a boom and bust cycle in the next few years. Andrea Illy, chief executive of Italy’s Illycaffe, said: “What worries me most is this resulting in an explosion in production, like happened in the last big rise in coffee, in 1998. “Three years later, the world was flooded with coffee and that led to lower prices and a crisis in coffee.”

‘Output

is not keeping pace with demand’

THE 34-year high in coffee prices on the world markets has been caused not by a long-term upwards trends, but by a very clear spike which saw the price double in just 11 months from last June. How seismic the change has been is highlighted by the relative stability of prices over the last 30 years. In that time, it has consistently traded above 150¢ a pound on just three occasions, each lasting about a year – in 1985-86, 1994-95 and 1997-98. Over those three decades, it has largely stayed within 50-150¢, and, in the last five years, has rarely strayed outside 100-150¢. The price went above 150¢ on June 14, 2010, and has not been back below since, peaking at 310¢ cents in April and currently trading at just over 260¢. Phil Schluter, of coffee traders Schluter, explained that the real effects of this are seen on the supermarket shelves and in the farmers’ pockets. “At 140¢ a pound, where we started at, is $3,090 a metric

tonne – that works out at 1.6p a cup,” he said. “The high was 310¢ a pound, which is about 3.5p a cup. But the cost of serving a cup of coffee is about 90% of the price. “When we work out the price of coffee on a supermarket shelf, buying the green coffee [before it is roasted and packed] has gone from 57p for each bag on the shelf to £1.25.” He is confident that the farmers are benefiting from the large price rises. “Farmer prices have doubled,” he said. “Most farmers received about 70¢ cents out of 120. “Today, it’s 150 out of 266¢. “They are receiving a lower percentage [56% against 58%] because the cost of trading, insurance and so on is much higher than in the past. “It’s good for farmers. The farmers we deal with are better off because they are subsistence farmers, they grow their own food. “The only cash in their economy is spent on things like schooling, and that has not increased in price.”

private business Motor dealer drives profits

COMMERCIAL vehicle dealer Enza Group drove down costs to record a strong performance, despite sales volumes remaining “depressed”. The Warrington-based group, which operates the Mercedes-Benz franchise for commercial vehicles across the North West, made a pre-tax profit of £1.2m on sales of £68.7m in 2010. It is by some distance the best performance since Enza Group became the holding company following a management buyout in 2006. It paid dividends of £192,315 after the year end. In its previous financial year, which covered the nine months to December, 2009, Enza Group generated a pre-tax profit of £221,000 on £48.8m sales. In accounts published at Companies House, the directors expressed their satisfaction at the annualised sales rise of 6%. They said: “The results are particularly pleasing, given the fragile nature of the UK economy. “While sales volumes are still depressed across the UK, Enza enjoyed improved results during the year, with good performances in truck sales and used sales. “Van sales were less encouraging, but nevertheless a good result. Vehicle stocks were more manageable, and therefore more costeffective. “Revenues from financial products also increased during the year. “After-sales revenues showed continued signs of recovery, and look set to continue. “Our focus on costs remains high on the agenda for the whole of 2011.” Enza Motors, which has been established for 30 years, has four dealerships across the region, in Warrington, Trafford Park, East Manchester and Stoke-on-Trent. ALEX TURNER

Wednesday, June 8, 2011

LDP business .co.uk briefing Power firm to raise prices from August SCOTTISH Power said it will increase gas bills by an average of 19% and electricity bills by 10% from August 1, in a blow for around 2.4m customers. Households on a dual fuel tariff paying monthly by direct debit will see their bills increase by an average of £175 a year. It last put its prices up in November, when gas prices rose 2% and electricity bills by 8.9%.

King pay falls by £0.65m SAINSBURY’S boss Justin King was awarded £2.65m in pay and bonuses in the last financial year – down from £3.3m received the previous year, after receiving 48% of his maximum bonus.

Profits rise STOCKBROKER Charles Stanley reported a 30% increase in pre-tax profits to £13.4m in the year to March 31, boosted by the strong performance of equity markets. Funds under management and administration increased 13% to £14.5bn and revenues increased 9% to a record £125.6m.

Safety deal THE operator of the Channel Tunnel, Eurotunnel, has been awarded a contract to review the safety regulations at rail network operator Grand Port Maritime, in Bordeaux, France. The contract will see Eurotunnel extend its presence among French ports.

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Northern Vision’s efforts prove a net gain for city by Tony McDonough

LDP DEPUTY BUSINESS EDITOR tony.mcdonough@liverpool.com

JUST over a decade ago, Anders Borg was being shown Calderstones Park, in south Liverpool, in his quest to find a venue for a new tennis tournament. “We can’t hold it here,” he told his city council hosts. “The whole park is on a slope.” However, he persevered and a small section of the park was identified as being suitable. It was duly flattened to create a centre court fit for the world’s best players. And so, in the summer of 2002, the Liverpool International Tennis Tournament was born, an event that has become a jewel in the crown of the city’s social and sporting calendar. Mr Borg, a Norwegian who was then a currency derivatives trader in the City of London, set up Northern Vision to manage the event. Now the city centre-based company works all year round to organise the tournament, which this year takes place from June 16-19. It also now stages annual tournaments in Manchester, Nottingham and Marbella. The four-day tournament features both current world-ranked players and legends who this year include former Wimbledon champions Martina Navratilova, Martina Hingis and Greg Rusedski. “I could never have imagined 10 years ago that the tournament would become this big – it is almost unbelievable,” said Mr Borg. “I was making a good living in my job, but I wanted to get more satisfaction, and had always wanted to get involved in sport. We were looking at sites all around England and when we came to Calderstones we saw what a beautiful park it was. “People said to me ‘you must be crazy – Liverpool is not a tennis city’, but I knew this would be the perfect place. The city council was right behind us from day one. “The leader at the time was Mike Storey, and since then we have dealt with Warren Bradley and now Joe Anderson. “They have all put politics aside to give us their full support.” Northern Vision’s four-strong team has to find well over £750,0000 every year to stage the event, mainly through sponsorship, and also through tickets sales and hospitality. Around 20 local firms and organisations are already providing support and sponsorship, including law firm Brabners Chaffe Street, the Hilton Hotel and King Sturge. The latest to sign up is car maker Saab, through the local Lookers dealership. Mr Borg said: “The motor industry is one of the biggest supporters of tennis around the world, so it was really good to get Saab involved. “As soon as the tournament is finished each year, the team is looking for sponsorship for the next year. “That is the best time to start, because it is still fresh in people’s minds. It is becoming more difficult at the moment because of the economic climate and the Government cuts. “In the weeks leading up to the

Anders Borg, left, with tennis star Barry Cowan and local youngsters Mark Harrop, 6, and Anthony Hardman, 5, at an event in Liverpool city centre last week Picture: GAVIN TRAFFORD/ gav310511tennis-2

Martina Navratilova on a previous Liverpool visit event, the team is working flat-out – there are no bank holidays. “During the event itself, we will employ more than 150 people.” Mr Borg’s own family home is in Norway, where he lives with wife Jeanine and children, Alexandra, 13, and Felix, 10. He gave up his City job 18 months ago and now works full time for Northern Vision. “I have to spend a lot of time away from them as the tournament approaches – too much time, my wife says,” he joked. “But I try to bring them over for the tournament – both my kids now play the game, and I am turning into a pushy tennis parent.”

Mr Borg says the Liverpool tournament differs significantly from the Manchester, Nottingham and Marbella events. He added: “They take place within established tennis clubs, but in Liverpool we build a tennis village in a public park – that makes it unique. “It is one of the biggest exhibition events in Europe. “What we set out to do with the tournament was to take away the snobbish element and make it open to everyone, and I think we have succeeded in that. “Lots of ordinary people love tennis, but for many being able to afford to go to Wimbledon is almost impossible. Here, people can watch top players all

day from just £9 – that is great value.” Taking tennis to the masses is a theme Mr Borg is passionate about, and, immediately after this year’s tournament, Northern Vision will launch a tennis academy in Liverpool. Youngsters involved will be able to access hours of coaching at the David Lloyds sports centre, in Speke. Mr Borg said: “Since the tournament started, we have worked with local schools to introduce more than 50,000 children to tennis. “But after the tournament finished there has been nowhere for most of them to follow up that interest, and that is what the academy idea is all about. “In a few years’ time, we want Liverpool to be producing top tennis players.” Mr Borg said that bringing the big stars to Liverpool had become much easier as the reputation of the tournament has grown. He added: “The players have come to love the atmosphere of the event. “The tennis circuit is very competitive and they can find it quite lonely. Here, we try to build a team spirit between them. “On one of the nights of the tournament, we will sit them all down for dinner at the Hilton, where they are really looked after. “My dream is to set up a match in Liverpool between John McEnroe and Bjorn Borg – I would really love to make that happen.”

Wednesday, June 8, 2011

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Banks impose tough conditions on struggling HMV AILING HMV was yesterday thrown a lifeline by its lenders, following a deal that will give Britain’s taxpayerbacked banks a stake in the retailer. The group, which runs 266 HMV stores in the UK and Ireland, has secured a £220m banking facility covering the next two years, lifting uncertainty over its immediate future. But the new package will see its lenders, including Lloyds Banking Group and Royal Bank of Scotland, issued with warrants worth 5% of the company that can be converted into shares from next year. They have imposed tough lending terms, including an interest rate of 4% above current market rates and an exit fee of 14% in relation to a £90m portion of the facility if it has not been repaid by January, 2013. Seymour Pierce analyst Kate Calvert said the agreement showed the banks “clearly have the company over a barrel”.

HMV operates 266 stores across the UK – including an outlet at the Liverpool One development

Food bills push up living costs by Jamie Grierson

LDP DCORRESPONDENT business@liverpool.com

FOOD bills increased at the fastest pace in nearly two years last month, as volatile commodity prices continued to lift the cost of living in the UK. Food inflation hit a 23-month high of 4.9% in May, up from 4.7% in April, according to the British Retail Consortium (BRC). The rising costs of raw materials – wheat was up 72% and oil was 50% higher – have been driven by dry weather and demand from emerging markets such as China. Elsewhere, overall shop price inflation slowed to 2.3% in May from 2.5% in April as weak UK demand saw non-food inflation, on items such as clothing and electricals, slow to 0.8% from 1.2%. Policymakers at the Bank of England have been faced with soaring inflation in recent months, with the consumer prices index rate hitting 4.5% in April, its highest level in 2½ years. The Bank expects inflation to hit 5% this year before gradually dropping back to the Government target of 2%, but further increases will prompt calls for an interest rate hike. However, the Bank is unlikely to act, as official figures and surveys indicate the economic recovery in the UK is faltering. Stephen Robertson, BRC director general, said: “Recent volatility in the cost of key commodities, linked to dry weather and global demand, is now working through to the shop price of some food. “But, even though the VAT rate went up 2.5

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Stephen Robertson, of the BRC – volatility in the cost of key commodities is working through to the high street percentage points in January, non-food goods are less than 1%higher than last year – reflecting weak demand and retailers’ need to use promotions and discounts to generate sales. “Overall shop price inflation fell to 2.3%, almost half the consumer price index, showing rising utility and insurance costs are hitting households much harder than shop prices.”

news

Investors to get £500m FRIENDS Life owner Resolution has pledged £500m to shareholders after admitting it had no current plans to pursue more takeover deals. Resolution, a buy-out firm set up by insurance businessman Clive Cowdery, has nearly £1bn in cash after large amounts of capital were released from the acquisition of Friends Provident and Axa UK Life. Resolution consolidated the businesses under the Friends Life brand, along with Bupa’s life and protection unit, and said there were currently no other acquisition opportunities available. The company said it would return the cash to shareholders partly through a £250m share buy-back programme starting today. The additional £250m would be returned in the second half of 2012, possibly through a special dividend.

Wednesday, June 8, 2011

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BID approval can transform Liverpool’s central business district

view point

by David Guest, regional director of property firm Bruntwood THE approval of the commercial district’s Business Improvement District (BID) application has made clear the willingness of companies to

Growth for Lead Creators MARKET development company Lead Creators has moved to offices at Liverpool Science Park to facilitate its growth plans. The firm is relocating its nine staff from Exchange Flags, in Liverpool city centre. It says staff numbers are projected to grow by 200% by the end of the year. Lead Creators helps its clients identify sales opportunities and new markets for it clients. The firm is taking 1,300 sq ft at the science park. Lead Creators’ director, Lee Hackett, said: “I was keen to locate our first SalesHub in Liverpool and felt that the highly technical nature of Lead Creators’ existing and target client base had a synergy with the occupiers at Liverpool Science Park.”

harness its potential for improvement. BID status will herald big changes, with new funds dedicated to improve transport and infrastructure, and how it is managed and showcased. This should provide a substantial boost to the commercial property market, by providing the right climate for new investment, making sure that the area sparkles when encouraging businesses to locate to the district. The increased networking and marketing support that a BID provides, as we have seen in the retail area BID, attracts and retains small and start-up businesses.

In recent months, the commercial district has continued to diversify with more independent retail and lifestyle businesses opening. We’re receiving increased interest from businesses who hadn’t previously considered being based in the commercial district, such as creative and media companies, who want to be closer to their clients and the existing broadband infrastructure which is now able to support core requirements. Bruntwood has been an active sup-

porter of the BID application from day one, seeing its potential to attract new business and to drive inward investment. We must continue to work with all businesses to provide the right conditions for relocation, such as offering short-term contracts. New businesses will search for premises that offer flexibility in suite size, price and lease commitment and delivering this has always been a core proposition across our portfolio. Ensuring that the BID has a diverse range of businesses is the

‘BID status will now herald some big changes’

Weightmans agrees deal for 90,000 sq ft at Plaza EXCLUSIVE by Tony McDonough

LDP DEPUTY BUSINESS EDITOR tony.mcdonough@liverpool.com

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best way to safeguard its future. Landlords have a major role to play by working with tenants to provide flexibility of lease and support integration. This will bring significant benefits to both as, after all, if a company feels a proper part of its business community, it’s more likely to be a happy, long-term and, in turn, successful tenant. As this is only the third commercial-led BID in the UK, we are keen to show how successful it can be. This is a fantastic opportunity for landlords to work in partnership with tenants to transform their working environment.

Moving in – Bruntwood’s Plaza development in Old Hall Street, formerly the headquarters of Littlewoods, where Weightmans is to take 90,000 sq ft of space

CORPORATE law firm Weightmans has agreed to take 90,000 sq ft of office space at Bruntwood’s Plaza development, in Liverpool city centre. The firm, which earlier this year agreed a merger with rival Mace & Jones, currently has its Liverpool office in India Buildings, in Water Street. It had been on the look-out for a new home for at least the last couple of years. Property sources in the city told LDP Business that Weightmans had taken a close look at other locations in the city centre, including Rumford’s 20 Chapel Street development. The Plaza, which was formerly the headquarters of the Littlewoods empire, has been refurbished to a high standard and will almost certainly be cheaper than the Grade A accommodation at 20 Chapel Street. David Guest, regional director at Bruntwood, said: “I can confirm that we have agreed terms in principle with Weightmans for 90,000 sq ft in The Plaza. “Both parties are finalising legal documents for signature and exchange imminently.” Weightmans and Mace & Jones officially merged on April 1, creating a total staff of more than 1,000 and generating more than £75m in fees per year. More than 770 staff will be based in the North West, and the move further consolidates Weightmans’ position as a major national law firm with offices in Birmingham, Leicester, London and Manchester, as well as Liverpool. Mace & Jones has offices in Liverpool, Manchester and Knutsford. In February, Weightmans reported that its annual profits were up by more than 16%. In 2008/09, the firm made just under £15m but, by the close of 2009/10, that had risen to just under £17.5m – a £2.5m uplift. The average number of fee earners surged from 382 to 439.

Wednesday, June 8, 2011

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Thin Joint Technology launches eco-home package LIVERPOOL-BASED Thin Joint Technology (TJT) has launched a sustainable house build package, comprising the complete core shell of a home, designed to meet “Passive House” standards. The sustainable building product supplier is keen to support low carbon building projects. New regulations and stringent government targets, which include a set reduction of 80% in carbon emissions by 2012, is forcing the UK housebuilding industry to consider other methods of construction, products and processes. The Passive House concept focuses on a building design where a comfortable interior climate can be maintained without active heating and cooling systems, as the house heats and cools itself – hence “passive”. TJT is able to supply all core materials to create a Passive House and low carbon home. Chris Hirst, of TJT, said: “Because of new government guidelines, all builders are being forced to look at the way they approach every new-build scheme.”

Chris Hirst, of Thin Joint Technology, says builders are having to find new ways of building sustainably

Retail growth at The Capital by Tony McDonough

LDP DEPUTY BUSINESS EDITOR tony.mcdonough@liverpool.com

LIVERPOOL property group Downing has secured another retail tenant at its city centre Capital building. Capital Cards, a card and gift shop, has signed a five-year lease on a space in the Old Hall Street building’s atrium. Located directly in front of the main entrance, the store stocks gift items such as jewellery, photo frames and toys, as well as gift wrap, balloons and cards. Capital Cards is the fourth retailer to move to The Capital, joining Flowery Hazel, the Cinnamon Café and supermarket giant Tesco. Downing, Liverpool’s largest commercial landlord, has further opportunities available and is looking to attract other retailers to the space. Robin Ellis, senior agency surveyor at Downing, said: “Our vision for The Capital was always that it would offer more than just office space. Instead, it would have a variety of business and lifestyle facilities. “We’ve been deliberate in choosing a diverse range of retailers, so that we are providing real value to our tenants and the wider commercial district, and Capital Cards certainly complements the existing retail mix.” Downing has spent millions refurbishing The Capital since acquiring it for a record £51m in 2006. Christina Shields, joint owner of Capital Cards, said: “We spent a long time researching the needs of people in the area before taking the dive, and found The Capital to be the perfect site for our business.

location

Conlon’s award success CONLON Construction has won an award for its work on a school in Liverpool. The firm scooped a Local Economic Award at the North West Regional Construction Awards for its work at Faith Primary School, in Everton. This project also saw Conlon gain a bronze National Site Award presented by the Considerate Constructors Scheme in April. During the 10-month project in Merseyside, Conlon provided work placement opportunities for trade apprentices, employed local people who are still with the firm a year on and contributed funds towards a school minibus. Construction director Michael Conlon said: “It was great for us to have the support and involvement of the local community.”

CITY OFFICES

FLEXIBLESPACE FLEXIBLETERMS OFFICES@DOWNING.COM Vision: Robin Ellis, of Downing “People in the commercial district often don’t have time to venture into the city centre for last-minute buys, so we’re confident that being located here will drive the business.” Downing has also announced that The Capital car park is to open 24 hours a day.

Wednesday, June 8, 2011

LDP business .co.uk Aerospace & Defence

66012 53012 Edin US Trkr Tst 61812 31712 25138 Forgn & C

Index 3339.22 ▼ 17.65 10112

30934

-114

36978 29434 BAE Systems 32314

-1

320

Avon Rbbr

-38

32334 21314 Hend Smllr Cos 31678

-38

37238 27314 Law Debenture 36978

252 528

40978 Witan

24612xd

Scot Am

+112

73612 51958 Chemring

677

24758 19214 Cobham

22358xd -118

38078 26134 Meggitt

36458

-138

Fixed Line Telecoms

665

621 xd

-612

Index 2423.62 ▲ 5.27

535

Rolls-Royce

15912 11114 Senior

+212

153

+14

Automobiles & Parts

23718 10914 GKN

-12

20178 12614 BT Gp

19758

87512 61012 Bco Santander 712

+412

395

33634xd -258

31714 Sainsbury

44058 37712 Tesco

412 xd

-512

-214

7758 1238 Ireland

1218

-34

7758 4678 Lloyds Banking4758

+34

Food Producers Index 5337.49 ▲ 11.04

5218 3758 Ryl Scotland

4138

-18

1959 1525 Stan Chart

1578

-312

Beverages

112

1383xd +15 -534

1301 1033 Diageo

1283

-8

2306 1827 SABMiller

223412

-2

48418xd +134

Cranswick

785

-5

42478 33934 Dairy Crest

393

+12

2000 1688 Unilever

16934 5834 Elementis

15914xd +312

2119 1460 Johnsn Mat

2023

Index 3819.66 ▲ 12.73

Costain

23434

+112

128878 +878

1418 88612 Kier Group

1300

6438 3212 Low Bonar

12412 7834 Marshalls

116

340

990

Drax Gp

48134

+418

44858 29214 Intl Power

31858xd +358

1391 1067 Scot&Sthrn

1391

+20

38634 Domino Ptg

179

9834 Laird

134 xd

-534

333

17778 Morgn Cru

304 xd

-158

770

377

Volex Gp

343

152

-1

Equity Inv Instruments Index 6108.41 ▲ 13.63 385

29312 Alliance

377 xd

+58

13778

+134

14012 105

Br Assets

777

557

Candover Inv 557

228

172

Dunedin IncGth 22012

-13

Aga Rngmstr 11134xd +134

119

Barratt Dev

511 114

14812

-14 +37

+134

Industrial Engineering

-812

Index 7314.98 ▲ 12.86

85312 567

Charter

3912 594

501 Compass Gp

Molins MS Intl

215

+112

821

575

Renold

-114

18234

13612

2063 1346 Spirax Srco

1991

-14

2000 927

2000

+30

Coral Prod

1114

638

338

Cosalt

312 39512xd +414

Industrial Transportation

-22

Index 2599.86 ▼ 14.27 24034 175

31114 221

Brown (N) Gp 276

-334

7738 53

Debenhams

7038 xd

2812 1134 Dixons Retail 1938

+58

40134

-314

24412 18812 Home Retail

20812xd -314

414

38958xd +118

JD Sports

+358

12334 7558 Lgl & Gen

11558

27818xd

Prudential

Var 5Day

+212 -14

27512

+212 - 14

High

479 1030

30814

+838

24434

20614

+258

173

Standard Life

Media Index 4235.00 ▼ 14.51 574

BSkyB

83412

-12

D Mail Tst

44414

+14

6838

-58

Low

32214 easyJet 683 JD Sports Fashion

- 12

155

1112 JJB Sports

1109 xd

-18

-49

3512

1534 Johnson Serv

-512

578

370 Nichols

+134 -1514

135 46

37 +112

1257

86 NWF 1934

31134 21114 Resolution

-38

-3

720

Park Gp

76212 Rathbone

Price

up 3.41

36034 1000 xd

3312 57234 135

187134 1280 Marsh McL

184114 +1234

14312 11758 RSA Insurance 13738xd +58

126212

478 Coral Prod

1114

98212 Dee Valley

124712

139 14312

9712 Redrow 11758 RSA Insurance

5312

+12

36414 23014 Invensys

303

-434

125

9914

-114

14714 10134 Logica

13212

302

28814xd -158

Support Services

AEA Tech

1193

-16

-18

202.40

4.30

219.20

0.53

Jpan Spec Sits

128.90

0.10

Spec Sits

1971.00

0.01

Sth East Asia

747.00

0.01

Tobacco Index 31523.29 ▼ 90.93 274512 2091 Br Am Tob

273012

-712

2231 1784 Imperial Tob

2171

-7

Index 4666.65 ▲ 5.34 3153 2037 Carnival 594

501

479

32214 easyJet

2355xd

+112

36034

Index-Linked Acc

-512.29

539.25

-994.52

1046.86

-1 4

Pacific Acc

-243.52

256.34

Property Bonds

-2002.89 2086.34

50212 38178 Greene King 360

240

1435 982

49434

Holidaybreak 277

+14

Intercontl Htls 1221xd

21278 Intl Cons Airlns 22918 14758

11718 9038 Marston’s

10512xd +18

361

274

Mitchells&Btlrs 33178

+12 +14

156

9434

15158

335

20814 Restaurant Gp 29814xd

27178 190

TUI Travel

22514

1887 1361 Whitbread

126212 98212 Dee Valley

124712 +4

675

662

1517 1216 Severn

1460

-3

63112 520

608

53012 Pennon Gp

Utd Utils

AIM Index 881.90 ▼ 0.72 914

API Gp

3512

Armour Gp

414

-14

567

191

Cape

55812xd -812

178

838

434

Eckoh

818

77812xd -312

155

1112 JJB Sports

-214

303

20534 Electrocmps

2336 1554 Ryl D Shell B 213212xd -11

819

578

1493 99112 Tullow Oil

291

23734 G4S

28812xd +12

17312 55

452

280

387

1412 Scapa Gp

10212 Swallowfield

10212

-1 8

+12

3034 Man Brnze

4712

-7 8

29412

Metalrax

1018

-7 8

78612

550

355

Portmeirion P 48712

142

7938 67

Uniq

326

-5 8

685

Young A

66934 +1434

3234

UK Coal

-212

Ultima

1 12

+18

1980 xd

608

510

-312 +14

-14

European Smllr Cos A Sterling Bd Unit Tst

1059.30

- 54.20

3.72

56.62 4.50

452.80

2.83

Country

Currency

Tourist

Buy

Sell

dollars

1.45

1.533

1.538

Denmark

krone

European Union

euro

Japan

yen

New Zealand

dollars

326.66 1.10

828.30

0.70

Far East

549.20

1.80

Inc & Gwth

206.70

3.30

International

416.20

0.40

North Amer Acc

451.50

0.10

INVESCO FUND MANAGERS Sing ASEAN

216.91

0.38

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

FUNDS High

Low Funds

Price

Var

£90932

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

£582732

£50 Cons 212% ................ £54

Conversions

£8134

£69 Cnv 312%.................£7212 -132

Treasury

Australia

dollars

-314.08

European

£109116 £1002532 Cnv 9% 11 ......... £1002532

£ ABROAD

5514

520 Utd Utils

-1

+14

63112

-212

+14

1688 Unilever

5712

29212

4012

Redhall Gp

502 xd

2514 Telme Gp

224.30 3.08

132.30

Consols

550

30012 18312 Interserve

Sportech

3.30

HENDERSON HORIZON FUND

+112

3512 1534 Johnson Serv 3312

Canada

Capital

63212 48414 National Grid 59312xd

+434

-218

63.94

-224.30

1.00

267.20 3.08

HILL SAMUEL UNIT TST MGRS 32214xd +734

49958

+14

UK Equity Inc A

34618 27778 Centrica

51912 36014 Berendsen

3814

Gilt & FI Gilt & Fixed

+14

105.90

-267.20

Monthly Inc

Utilities

48014

3534

British

-1 8

Index 4613.23 ▲ 57.54

Crimson Tide 138

-12

Balanced

+38

1552xd -29

78512

4634

-1 4

Punch Taverns 7014 Rank Gp

HSBC INVESTMENT FUNDS (UK)

-1 2

15214 12234 Ladbrokes

Dawson Intl

Var 5Day

172.81 4.28

International Acc

112

3212

-161.47 GUARDIAN

-5

Price

Pratical Inv

-3 4

54912 De La Rue

1914 Speedy Hire

3.90

1504 1042 Go-Ahead Gp 1492

984

Low

1.05

209.56

+18

214

▲ 0.28%

915.32

33734

134

34634 15214 Northgate

Income

41258 31114 FirstGroup

-178

1109xd -18

Euro Sel Opps

12234 7678 Enterprise Inns 77

42712

1251 80512 AMEC

Compass Gp 591

33734 Menzies J

GARTMORE FUND MANAGERS

Travel & Leisure

-3

Index 25184.21 ▼ 215.43

1.70

73712

Oil Equipment & Services

320.10

Japan

+534

Hyder Cons

Income Plus

658

-7

Gwth & Inc

-138

63512 Capita

1310

0.32

+114

176

Experian

1752.00

8914

16014 10678 Spirent Comms 14834

783

28814 Premier Oil

589.20

10234 7134 Psion

810

535

American -3 4

+14

Cairn Energy

Amer Spec Sits

-712

44818xd -234

49314 366

FIDELITY INVESTMENT SERVS

574

1909

Bunzl

Yield

2412

20778 77

Ashtead Gp

Offer

Price Gross

27012 ARM Hldgs

1909 1346 Aggreko

-2 -1314 +58

Price

1934 BATM

3512

Index 4636.23 ▼ 0.37

+612 +1312 -134

13738 xd

6112 3012 Emblaze

-514 +1014

+14

117

-9

Bid

Terms

-3

1806

Cancel Fund

651

+14

1975 1271 Autonomy

1912 334

Index 750.16 ▼ 10.58

+118

842

22234 Sage

+16

20512 14318 Thomas Cook 14414

Land Secs

Kewill

1930

Tech Hardware & Equip

845

-10

-214

-30

32618

-1 2

1056

24758

43958xd -258

545

3212

24934 16034 Stagecoach

Gt Portland

33114 25014 SEGRO

-4

44214 281

-214

4414

593

Travis & P

2261 1223 Wolseley

9038 58

2919 2251 Daejan Hldgs 2810

+50

- 14

+38

1914 Speedy Hire

1127 709

UNIT TRUSTS

+18

Smiths News 96 xd

1365

30278 BP

-18

3934

35314 28438 Big Yellow Gp 32838 Brit Land

285 +2212

Real Estate

60412 429

12012 79

509

High

-214

Vernalis

28718xd -118

12134 8414 Rentokil

156412 1002 BG

2000 1258

-14

1737xd +28

-34

+112

1754 1352 Admiral Grp

Var 5Day

+23

Vodafone Gp

16338xd

Index 8210.71 ▼ 28.26

42958

777

602

Oil & Gas Producers

47778 30534 Aviva

48914

Inmarsat

Index 1683.12 ▲ 9.06

Index 4405.49 ▲ 42.47

1000xd +23

28718 19812 Kingfisher

Mothercare

-14

3176

Index 754.12 ▼ 2.15

Nonlife Insurance

Life Insurance +14

1030 683

BBA Aviation 21512xd

Index 9508.53 ▲ 43.94

Software & Comp Servs

Index 3736.41 ▼ 5.25

+438

Pharma & Biotechnology

Mobile Telecoms

-7

21912

2212

23718 Inchcape

Weir Gp

-212

1201

Index 1772.80 ▼ 1.64

591

5514 3234 UK Coal

115

DAILY POST REGIONAL INDEX 1242.79

29 Beale

+12

108

68312xd +312

30634 xd

+51

230

9312 4814 ITV

22934 Balfour Beatty

4199

10312

2272xd

35714

4712 288012 Rio Tinto

1031

2326 1868 Next

2012 Anglesey Mining

-69

4312

+278

6655 4425 Randgold Res 4898

1112 65512 IMI

48778

80512 AMEC

-12

Index 3251.16 ▼ 7.30

49214 37214 Edin Invst

1251

-4

General Industrials

59412 433

241 Albany Inv Tst

76212

-7

1571

375

849

28712

37178

1271

39178 18634 Fenner

478

+16

47212

39734 18212 Bodycote

+278

Index 1958.11

2342

+514

42034xd -418

334 AEA Technology

1290xd

263112 168412 BHP Billiton

52014

-312

38778

Glencore Intl

37812xd -134

1912

1634 761

Kazakhmys

PZ Cussons

-10

53118 505

1258

Price

2974

1671 965

1312

296

134812 1095 GlaxoSmthKln 130512xd+412

+14

72412 36738 Cooksn Gp

8214 xd

3437 2254 Anglo Amer

1983 1355 Lonmin

Burberry Gp

409

3385 280112 AstraZeneca

Index 25154.82 ▲ 151.61

Antofagasta

1365

73912

-212

4314 2214 Taylor Wimpey 3578

34814 Halfords

732 xd

+12

1597

2514 1214 Ashley L

12834xd +14

79012

62712 382

Low

106

-1

42712 32714 M & S

4112 Adv Medical

151

-312

1427

+318

High

48334 Utd Business 565

Fresnillo

1922 1154 Schroders

Smith DS

+12

1682 950

108

-2

London Stk Ex 960

40578 29038 Rexam

117

9712 Redrow

14914

-6

3648 3015 Reckitt Benck 3465

14914 10212 Dunedin Sml

-114

713 xd

McBride

141

725

UTV

Personal Goods Index 21420.86 ▲ 98.02

139

1193

550

Bellway

STV Group

+14

1257 76212 Rathbone

+512

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.

-10

Mining

10814

1145

28018

General Retailers

705

Oxford Inst

544

1429 1041 Smiths Gp

Index 3225.76 ▼ 21.18

78734 265

Close Bros

168

84612 61412 WPP

138

192

974 xd

226

Electronic & Electrical

67012

25418 3i

Smith Nph

-512

Household Goods

75312

1033 72812 Provident

+12

Index 8607.66 ▲ 117.73

61412 +1112

57012 38014 ICAP

Electricity

48134 347

742

66212

Pearson

59012 48312 Reed Elsevier 546

12414 4212 Trinity Mirror

Index 3745.38 ▼ 14.21 53712

1171 864

Index 6641.96 ▲ 47.01

Index 5957.65 ▼ 3.10

88812 664

35714 22934 Balfour Beatty 30634xd +134 190

Health Care Equip & Serv

General Financial

-20

Construction & Materials

174612 1045 CRH

1980xd

61512 36758 Mondi

-14

Index 6619.00 ▲ 123.87 +1

Jun 7, 2011

39814 WH Smith

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.

Dec 7, 2010 2661

Share price (pence)

2885 1724 Signet Jwlrs

656

523

40918 Tate Lyle

FTSE-Rebased

Premier Foods 31

HMV GROUP

-5

Chemicals

265

3518 16

May 30 - Jun 03

30834 21014 Prem Farnell

3064.03 ▲ 0.04%

KEY

SPOTLIGHT

Forestry & Paper

1946xd

May 23 - May 27

808

656

AB Foods

May 16 - May 20

1069

Index 7593.34 ▲ 4.88 Croda

Thorntons

47712 Carrs Mill

90712 735

43134

1949 971

1182 940 808

Index 9864.25 ▼ 38.03

36412 Britvic

5820

+18

29938xd -158

5906.60 ▼ 0.13%

FT ALL-SHARE up 1.29 FTSE-100

5864.65 ▲ 0.03%

20 DAY MOVING AVERAGE down 7.71

5985

-234

30814 25734 Morrison W

62314xd -258

518

-18

7512

73078 59614 HSBC

1395 1035 Barr (AG)

20-Day Moving Average

Index 4828.18 ▼ 49.69

26212xd -112

FT-SE 100 INDEX up 1.49

6040

+38

4658 Cble&W Wwide 55

7812 4312 KCOM

Index 4412.88 ▼ 9.72 25538 Barclays

FTSE 100 INDEX

5930

Food & Drug Retailers

Banks

344

Closing Indices

5875

21338

51312

6138 4178 Cble&W Comm 4178 xd

Index 4989.43 ▼ 11.69

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

-412

31334

18614

LondonStockMarketatClose

1.52 7.93

1.602 8.352

£61

£50 Tr 212% ...................... £55

£11734

£10858 Tr 9% 12................£10914

8.362

£107316

£10314 Tr 5% 12................£10314

-116

1.604

1.07

1.120

1.121

£121516 £1152532 Tr 8% 13............. £1151316

-532

125.05

131.830

131.930

£114332 £109532 Tr 5% 14.................. £111

-116

1.86

2.001

2.006

£1112932 £105732 Tr 734% 12-15........£10614

Norway

krone

8.35

8.788

8.789

Poland

zlotys

3.88

4.413

4.422

Sweden

krona

9.60

10.099

10.109

Switzerland

francs

1.30

1.378

1.379

£330932

£30414 Tr 212% IL 16 ....... £330932

+716

£142316 £1322132 Tr 834% 17 .............£13534

-1316

£147132 £1332732 Tr 8% 21............. £1391316

-1932

Turkey

new lira

2.44

2.593

2.603

War

United States

dollars

1.56

1.644

£8334

£6712 War Ln 312%.............. £74

-78

Last night the pound was worth: $1.6442 (up 0.0085)............1.1206 euros (up 0.0015) ........... 125.05 yen (down 0.56)............Its trade weighted index was 79.00 (up 0.20) Metals in $ per troy ounce: Gold 1545 (down 4).............................Silver 37.41 (up 0.54) ............................ Platinum 1824 (up 5) ............................ UK base lending rate 0.5%

Wednesday, June 8, 2011

LDP business .co.uk London market THE London market ended slightly higher as lower oil prices hit the energy sector and overshadowed a strong session for UK insurers. The FTSE 100 Index finished up 1.5, at 5864.6, as a stronger opening for Wall Street’s Dow Jones Industrial Average gave a late boost. Traders in the US put several days of heavy losses behind them and turned their focus to a speech by Federal Reserve chairman Ben Bernanke on the outlook for the US economy. The dollar was weak against both the pound at 1.64 and euro ahead of Mr Bernanke’s speech. Factory orders in Germany also came in much stronger than expected. The euro rose to 1.12 against sterling. The oil and gas sector weighed on the market as crude oil on the New York Mercantile Exchange for July delivery dropped 0.2% to $98 a barrel. The cost was driven down by the prospect of slowing US economic growth and expectations that OPEC members will vote today to boost production at the organisation’s member meeting in Vienna, Austria. The London market was given support from Friends Life owner Resolution, after the insurance consolidation firm said it planned to return around £500m to shareholders. The stock shot up nearly 3% to the top of the risers’ board. The biggest Footsie risers were Resolution, up 8.4p at 308.3p, Centrica, ahead 7.8p at 322.3p, Legal & General, up 2p at 115.6p and Admiral, ahead 28p, at 1737p. The biggest Footsie fallers were Whitbread, down 29p at 1552p, Smiths Group, off 22p at 1201p, Reed Elsevier, down 10p at 546p and Amec, off 18p, at 1109p.

IN ASSOCIATION WITH

LIVERPOOL’S INVESTMENT SPECIALISTS

market comment

Greeceset toholdvote ontougher austerity measures

GREECE’S Prime Minister has said he will consider holding a referendum on further cutbacks essential for the loan-dependent country to continue drawing on funds from an international bail-out, amid persistent anti-austerity protests. “I am prepared, for the great changes that we are putting forward, to use even the institution of a referendum, for the broadest possible 2015 – are required if Greece is to conconsent or opinion,” George tinue receiving money from last year’s Papandreou told his ministers during 110bn euro (£98.2bn) programme of resa marathon informal Cabinet meeting cue loans from the International Monyesterday that ran for more than seven etary Fund and other countries that hours. use the euro. Mr Papandreou has been The government is also trying to quell dissent within pushing through an ambitious his own governing Socialists, 50bn euro (£44.7bn) privatisas well as widespread anger ation drive. among Greeks furious that a Greece looks like it will also year’s worth of painful cutneed more money to cover a backs have failed to produce funding gap next year and the expected results. Email us with prevent the country from Thousands of people have your views at defaulting on its debts. been holding peaceful protests letters@ Last week, debt monitors outside Parliament in Athens dailypost.co.uk, from the EU and IMF said every night for nearly two or write to us PO Box 48, Old Greece should receive the next weeks, and frustration Hall Street, 12bn euro (£10.7bn) instalment increased as it became apparLiverpool of the bail-out in early July – ent that the Government has L69 3EB as long as additional austerity to impose yet more spending and privatisation measures cuts and tax hikes. are deemed sufficient. In statements delivered during the A final decision is to be taken by the meeting and released by his office, Mr IMF board and the eurogroup in meetPapandreou said he had called on the ings later this month. Interior Minister to set up the necesBut Papandreou, whose PASOK sary legislative conditions that would party has a majority of six seats in the allow such a move “when it is needed”. 300-member Parliament, faced a potenHe gave no further details. tial rebellion from within the ranks of The new plans – 6.4bn euros (£5.7bn) his Socialists. worth of remedial measures this year Last week, 16 PASOK deputies and a 22bn euro (£19.6bn) package to

What do you think?

A protest march in the northern Greek port of Thessaloniki last year, staged by campaigners against cuts Picture: NIKOLAS GIAKOUMIDIS signed a letter demanding an extensive debate on the measures before they are ratified, with one of the signatories threatening during an interview on state television not to vote for the reforms otherwise.

A formal Cabinet meeting is expected to decide on the new measures today, and the package will then be introduced in Parliament, in the hope of receiving ratification later this month.

For twice-daily FTSE updates from Investec, log on to www.ldpbusiness.co.uk

business diary Thursday, June 9 The latest Fish! networking event is taking place from 5.30pm-8pm at Italian Club, Bold Street. E-mail joel@ ubiquitypr.co.uk for more details. Thursday, June 9 A UK Trade and Investment roadshow on Fin-

ancing the Future: Export Credits Guarantee is being held at Daresbury Laboratory. The free event is from 1.30pm-4pm. For more details, call 01925 400194 or email harrysavage.ukti@ nwda.co.uk. Thursday, June 9

St Helens Chamber is holding its monthly business breakfast at its town centre headquarters. It gets under way from 7.45am, and costs £24. Three businesses are invited to give a short five-minute overview of their business and services they offer. To book, visit www.sthelenschamber.com/events

Tuesday, June 14 Liverpool Science Park is holding a free half-day seminar, “From great science to successful company and exit”. It is being hosted by science writer and broadcaster Vivienne Parry and there will be speakers from the London Stock Exchange, AstraZeneca, Spark Impac and the

Wellcome Trust. See www.liverpoolscience park.co.uk to register your interest. Friday, June 17 The monthly Daresbury Science and Innovation Campus Business breakfast network event brings together around 100 people working for hi-tech companies. The breakfast is at Daresbury Innovation

Centre, starting from 8am. For more details, see www.daresbury sic.co.uk/events Friday, June 17 Liverpool Chamber of Commerce is holding a briefing with Louise Ellman, MP for Riverside and chairperson of the Transport Select Committee. The event will take place at Liverpool Chamber from 12:30-2pm. To book,

visit www.liverpool chamber.org.uk or call 0151 227 1234. Friday, June 24 The Northwest Traffic Commissioner, Beverley Bell, will be answering questions at the St Helens Transport Forum. It is from 10.30am-12pm at St Helens Chamber. For more details, see www.sthelens chamber.com/events

Wednesday, June 8, 2011

LDP business .co.uk trading gossip ■

WHEN Lorraine Rogers first took on the role of chief executive of The Mersey Partnership (TMP), back in 2007, there was some disquiet when she revealed she would also continue her duties at Tranmere Rovers. This later prompted Ms Rogers to reassure the Merseyside business community that she would be giving her full-time attention to the role of attracting inward investment to the city region. And Trading Gossip is pleased to report that Lorraine, below, still appears to be working flat out for the agency. As we were perambulating along Princes Dock one evening this

IN ASSOCIATION WITH

LIVERPOOL’S INVESTMENT SPECIALISTS

the back page

Kick-off at the end of the day for executive

working day

John Hall is UK business development manager at the industrial construction and maintenance services company, Hertel, based at Preston Brook. This was his day . . . 6.30am: Alarm goes off and after cereal and fruit juice it is the short journey down the M6 and M56 to our offices in Preston Brook.

week, we noted the highflyer driving away from the TMP nerve centre. A glance at the watch revealed it was gone half-past seven. Burning the midnight oil, indeed.

■

THERE’S also a pat on the back for Liverpool city centre BID chief executive Ged Gibbons, who will be tackling the gruelling SixPeak Challenge in July to raise money for the Ronald McDonald House at Alder Hey Hospital. Although Liverpool One isn’t part of the BID, we wonder if they’ll let Ged use their big stone steps to train on.

LDP CREATIVE

7.45am: I arrive at the office and the first thing to do is to check email. Then I prepare for the Hertel Group’s monthly business development meeting. This is a multi-location video conference with our head office in Rotterdam and other offices in Europe. We discuss existing and potential customers across the oil and gas, process, power generation and offshore industries and, after presenting the UK’s report, there is a more general discussion about the group’s progress on the introduction of a new best practice process for business development. 10am: An update meeting with my proposals manager and lead estimator looks at key issues. It is a busy time for us at the moment, and managing our resources is important. We agree strategies for approaching the bids we will be working on in the next few months, looking at each client’s particular needs and identifying where we will need head office input to meet specific approvals requirements. 11am: I have a brief meeting with the North West regional business development manager regarding a post-tender meeting with a client about a multidiscipline maintenance contract. 11.30am: Time to catch up with phone messages and the ever-increasing number of emails I seem to receive.

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12.15pm: A sandwich for lunch. It is a great time to read internal reports or catch up with the latest issue of an industry magazine. 12.45pm: A quick drive over to our mechanical workshops at Ellesmere Port. There I meet with the operations manager and our marketing coordinator to discuss the promotional and communications plan. Hertel is investing in a new fabrication facility in Ellesmere Port and it is very important that we promote it

John Hall – with our UK headquarters located near Middlesbrough and clients based all over the country, I am a regular traveller effectively to existing and potential clients. We have now been granted planning permission and hope to have the site up and running by the end of the year, so it’s all systems go. 3pm: Back to the office for a meeting to discuss the roll-out of our new customer relationship management system. This will help us to better understand our clients and the markets that they work in, helping us to ensure that what we are offering is meeting their requirements. Effective training, I believe, will be key to the successful implementation of the system.

4pm: Quick sit-down with our marketing co-ordinator to discuss signage for our new premises. We have recently relocated to Preston Brook, moving 40 of our staff from Bold, near St Helens. We discuss the branding of the new office. 4.30pm: I prepare a presentation I am giving to a client about maintenance work on power plants across the UK. This is a major opportunity as we are hoping for an alliance agreement to maximise the effectiveness of the contract.

6pm: I leave the office and join my friends for a game of seven-a-side football. We’ve been playing football together for more than 20 years. Then time for a quick catch-up and drink before heading home. 8.30pm: I pack my bag and look through papers for tomorrow. It is an early start as I have to be in the North-East for a conference starting at 9am. With our UK headquarters located near Middlesbrough and clients based all over the country, I am a regular traveller.