LDP Business - 21st December 2011

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5419.60 ▲ 54.61

LONDON’S top-flight shares rose more than 54 points despite drug giant AstraZeneca revealing pipeline problems.

The Cheshire firmtopped the fallers board with a drop of 44p to 2905p after it said that olaparib will not progress for further development in the treatment of ovarian cancer.

Positive eurozone sentiment helped the FTSE stage a late rally to finish at 5419.60.

The Dow Jones Index gained 2.9% to close at 12,103. The S&P 500 index rose 36 points, or 3%, to 1,241. The Nasdaq composite index rose 81, or 3.2%, to 2,604.

Chemicals giant seals £64m funding deal

by Alistair Houghton

LDP BUSINESS STAFF

alistair.houghton@liverpool.com

CHESHIRE chemicals giant Innospec has secured a $100m (£64m) package to finance its expansion plans.

The Ellesmere Port company, which is the world’s only producer of the tetra ethyl lead used in leaded petrol, secured the deal from a group of lenders led by Lloyds TSB. The company will have a total of $100m in credit available until 2016.

Innospec, formerly Associated Octel, is listed on America’s NASDAQ exchange. It employs 850 people in 20 countries, including more than 300 at its Ellesmere Port base.

As well as making tetra ethyl lead, Innospec makes a range of fuel additives designed to make engines more efficient and boost performance.

Its active chemicals arm makes additives used in personal care products including deodorants and sunscreen and shampoos.

Patrick Williams, president and chief executive officer of Innospec, said: “We are very pleased to complete this refinancing on favourable terms, which recognises the strength of our business model and prospects for growth, profitability and visibility over the long term.

“It is also important to note that our core lending group now includes a US-based bank, Wells Fargo, among

Lloyds TSB Bank plc, Barclays, Yorkshire Bank, Royal Bank of Scotland and Credit Suisse.

“The credit facility will support our strategic and financial initiatives for continued growth and expansion at Innospec.”

Yorkshire Bank has contributed $20m of the funding.

Kevin Rimmer, corporate director for Yorkshire Bank’s corporate and structured finance team in Manchester, said: “Innospec has continued to perform well despite ongoing global challenges and fluctuating materials costs.

“This new facility will provide Innospec with the financial headroom it needs to pursue future growth oppor-

tunities and succeed in a competitive marketplace.”

Last month, Innospec said total sales for the third quarter of 2011 stood at $202.1m, up 16% on the same period last year.

Innospec has recently faced corruption allegations.

Following an investigation by the Serious Fraud Office, assisted by law enforcement bodies in the US and the UK, two of Innospec’s former chief executives were in October charged with corruption.

Paul Jennings, 54, of Neston, Wirral, and Dennis Kerrison, 67, of Chertsey, Surrey, were given conditional bail and will appear at Southwark Crown Court in January.

MARKET REPORT: PAGE 13

Builder starts on £1.6m project

inside

Road Range sells division to MBO team MOTOR dealership chain Road Range has sold its MercedesBenz commercial vehicles arm to a management buyout team.

PAGE 2

LIVERPOOL construction company John Turner & Sons has started work on a £1.6m Booths Supermarket in Milnthorpe, Cumbria.

The contractor was appointed to build the store by landowner Houghton-Parkhouse at the Parkland Lakeland Estate. The job will include a service yard, access road, extensive car park, landscaping and footpath.

The store’s façade will be constructed in stone with other materials locally sourced.

The site will cover 93,520 sq ft with the supermarket totalling 17,233 sq ft and will be ready for fit-out in June next year. John Turner managing director John Clarke said: “Our business has grown on the basis of delivering projects of the highest standard.”

Funds secured UPMARKET restaurant and bar operator Living Ventures, which owns the Gusto brand, has secured a £4m funding package from Lloyds Bank Corporate Markets.

PAGE 5

MBNA in deal UP-FOR-SALE credit card giant MBNA has sold off a portfolio of credit card debt for £55.7m to Paragon Group.

PAGE 6

The John Turner & Sons team perform the ground-breaking ceremony at the Booths site

BUSINESS EDITOR: BILL GLEESON 0151 472 2319

DEPUTY BUSINESS EDITOR: TONY McDONOUGH 0151 330 4918

BUSINESS REPORTER: NEIL HODGSON 0151 472 2451

BUSINESS REPORTER: ALISTAIR HOUGHTON 0151 472 2449

BUSINESS REPORTER: PETER ELSON 0151 472 2502

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Wednesday, December 21, 2011

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Bibby is backing reforms A DIVISION of Liverpool’s Bibby Line Group says the Government must move more quickly to reform regulations on resolving workplace disputes.

The Government has already announced that the service qualification period for employees to pursue unfair dismissal claims will increase from one to two years in April 2012.

It is also believed to be considering a “compensated no fault dismissal” system.

Michael Slade, managing director of employment law specialist, Bibby Consulting & Support, said: “It is a common complaint from SMEs that they are expected to conform to the same regulations as big business, despite the limited resources available to them.

“By simplifying regulation it should help small businesses to concentrate on development and expansion in the tough economic climate. While we support these changes, much more needs to be done to redress the imbalance of employment legislation which employers have been battling against for the last 15 years.”

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Road Range sells van and trucks arm to MBO team

by Bill Gleeson

LDP BUSINESS EDITOR bill.gleeson@liverpool.com

MOTOR dealership chain Road Range has sold its Mercedes-Benz commercial vehicles arm to a management buyout (MBO) team.

The new owners are former dealer principal Brian Kempson, who takes on the role of managing director, and financial director Mike Jones.

Road Range Commercials is the Mercedes-Benz truck and van dealer for Merseyside and North Wales.

The new team confirmed it will proceed with an on-going £1.5m project to develop a purpose-built dealership in Deeside. It will replace an existing cramped facility at Deeside Industrial Park.

Mr Kempson said: “The new site will be a massive improvement.

“It’s more conveniently located closer to the A55.

“It will also give us more workshop space in which to service our customers’ vehicles and allow us to provide an attractive, welcoming showroom and reception area.”

Road Range is confident the development, which is scheduled to open in June, will help it to attract more retail van customers.

Mr Kempson added: “Delivering the highest levels of customer service is the top priority across all of our locations.

“Mike and I now own the business as well as running it, which means that 100% of our time is focused on making sure we offer truck and van operators not only the finest commercial vehicles on the market, but also the best possible service, parts, warranty and breakdown cover.

“Both of us have long-held ambitions to own a successful business and we are very excited to have bought into a company which we have helped to grow.

“Road Range has an excellent track record and the new facility will allow us to develop this even further.”

From left, Chris Smith of Robert Smith Group, Deeside site developer Jeff Williams, and Mike Jones and Brian Kempson of Road Range Commercials The new directors have purchased their controlling share of the capital of Road Range Commercials from Road Range owner the Robert Smith Group (RSG).

RSG chairman, Talbot Smith, who provided financial support for the buyout, and financial director Chris Hodgkins, who has been instrumental in planning the new development at Deeside, will continue to serve on the new board.

Mr Kempson said: “Road Range Commercials operates in a thriving geographic area and has excellent staff across all areas of the business, as well as a strong customer base and top-quality network of suppliers.

“We would like to thank Mercedes-Benz UK, which gave us full support throughout this process, and the Robert Smith Group for their faith and the financial support to build a centre for truck and van excellence.

“Now the acquisition has gone through the hard work starts – we look forward to building on an already strong reputation for customer service and further enhancing the quality of our offering to local operators.”

The service centre will have 10 full-length bays and a dedicated VOSA Authorised Test Facility lane, with full Petroleum Regulation Standard, allowing the dealer to offer improved service levels.

Liverpool business leaders welcome bank changes LIVERPOOL Chamber of Commerce has welcomed news that the Government is to accept the key recommendations of the Vickers Report into banking reform.

Chancellor George Osborne announced on Monday that, as

a result of the report, banks will be required to ring-fence their retail operations from risk-taking arms and to hold increased levels of capital to protect the UK from a repeat of the crash of 2008.

Chamber chief executive

Jack Stopforth said: “Reforms to the banking system proposed by the Vickers Report must be considered in the wider context of economic growth.

“The government must prioritise enterprise, wealth cre-

ation, growth and jobs.

“A strong, well-capitalised banking sector which is prepared to lend is vital to achieving this.”

Liverpool-based LCR, a lobbying support group for financial and professional ser-

vices firms, also backed the announcement.

Chief executive Mark Chadwick said: “Our members recognise this is a common sense solution and would welcome the Government’s adoption of the recommendations.”

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Panel beater with the drive to turn a crash into a career

Alistair Houghton meets KARL VELLA, founder of car repair chain Karl Vella Group WHEN Skelmersdale teenager Karl Vella pranged his car, he found his true vocation.

Vella had no cash to pay for repairs – so he had to work shifts at a Burscough garage to pay off his bills.

He loved the work so much that he stayed on, and eventually set up his own car repair centre.

Today Vella is one of the best-known names in the industry, with five Karl Vella body shops across the North West. His group employs 130 people and turns over more than £10m – and his journey has even seen him take over a factory where he worked as a teenager.

Vella is also passionate about passing on his skills to a new generation – so much so that he was awarded an MBE in 2006 for his services to skills training.

The downturn has hit his business, but the plain-speaking Vella is confident that it is strong enough to adapt and survive to be taken over by a new generation of Vellas.

And he is proud that his business has made its home in Skelmersdale.

“My mum and dad still live in the town,” he said. “They get even more of a buzz out of it than I do. Vella is an unusual name, and people know the name for the right reasons.”

Vella’s entrepreneurial streak made itself known early, when he sold conkers in the schoolyard. By the time he was 15, he wanted to make his own way in the world.

“I left school without doing any exams,” he said.

“At 15 I had my life planned out. I was going to work for my uncle’s double-glazing business. But by the time I left school, there was a recession and he closed the business.”

So Vella moved into the world of work, stacking shelves at a supermarket before working at a tyre company and then moving to clothing firm Peter Blond.

“At that time you could just hop from one job to another,” he said.

“My next job was in a meat-packing factory.”

But then, fate intervened.

“At 17 I had a crash in my car,” said Vella. “It was just a little bump.

“My girlfriend’s uncle, Bill Hardman, had a body shop in Burscough.

But I didn’t have any money.

“I was working shifts. So he said ‘Why don’t you do a bit of work for me in the morning before you start work, and pay me off that way?’”

Vella had long wanted to work with cars, but didn’t know how he could achieve that in Skelmersdale.

Now, he found it was possible.

“After a couple of weeks doing bits and pieces, Bill offered me a job,” said Vella.

“I felt it was my true vocation.

“I worked for him for seven years and learned a lot about cars – fixing cars, panel beating, parts fitting, painting, car body repair.”

After leaving Bill Hardman’s garage, Vella plied his trade at other local garages. But, he added: “I didn’t want to work for other people.

“So, in 1986, I took the plunge and

set up my own business.”

So he opened up his own body repair shop in Southport.

“We used a noisy compressor off a ship,” he said, smiling. “The building shook when it was on.”

Vella’s body shop soon won local renown for the quality of its work, and the Southport site soon grew.

“It’s about quality at the right price,” he said. “We got a reputation locally for doing a quality job.”

That attracted the attention of insurance companies, who started referring work to Vella.

“After about eight years, we had the chance to grow the business considerably,” he said. “So we opened in Skelmersdale.”

Vella opened his hometown site, now the company’s headquarters, in the former Peter Blond factory where he had worked years earlier. That move gave the company room to take on still more insurance work.

“At that point, it was one of the biggest body shops in Europe,” said Vella.

He opened in Blackburn in 1998, and the following year took over a rival in Preston.

“In 2003 we had a break in the lease,” said Vella, “so we built a new building on a brownfield site at Preston Docks.

“It was a £2.1m investment and it’s a beautiful site. It looks like a laboratory in there, all glass and chrome.”

And in February this year, Vella took over Barrow-in-Furness firm County Coachbuilders Automotive, now operating under the Vella name.

Some 85% of Vella’s work comes from insurance companies, but the company is increasingly selling its services to motorists directly.

“We’re going back to grass roots now,” said Vella. “We’re trying to win more work locally. We don’t just do accident repair – we do servicing, MoTs, and express repairs.

“We’ve developed a quick way of fixing cars. A job that might have taken five or six days can be turned around in 24 hours.

“It’s a proper repair, but logistically we’re able to turn it around more quickly.”

The car repair industry has changed greatly since Vella started his business. Thousands of small bodyshops have closed, while groups such as Vella’s have formed to take advantage of economies of scale.

The last three years of economic turmoil have affected Vella’s busi-

Karl Vella and his three children work at the group that bears his name ness, though he says the firm has done better than its rivals.

“We’ve probably seen a downturn in business of about 30%, which is probably about 10% better than the rest,” he said.

“This summer we’ve managed to keep people busy by developing new lines of work. But we don’t know how long this is going to last. We’re keeping an eye on costs in all areas.”

Asked about future growth, Vella is refreshingly direct.

“It isn’t there,” he said, ruefully.

“We might shrink to grow.

“We’re not going to get all the work out there. We have to consider how far we’re going for work with fuel at £7 a gallon.

“We’re trying to do a lot more

q&a Age: 52 Highest educational qualification: Graduate of the City and Guilds Institute, and Fellow of the Institute of the Motor Industry Biggest achievement in business: Getting awarded an MBE for skills training in the motor industry. And training Andrew Blair to gold medal standard at WorldSkills in 2005 Biggest regret: There isn’t one. Every

day is a challenge. You may make mistakes, but it’s about putting them right Best advice received: Surround yourself with people of quality Still to achieve: My children work at the business – David is the operations director for the group, Matthew is an estimator and Jayne works part time in credit control. In the future it would be great for me to take a back seat and hand the business over

work locally at each site.

“We’re giving great service to people. We are the best choice. People say ‘We’ll go to Karl Vella because they’ll do a great job’.

“I don’t see any major growth in insurance claims. But we’re trying to augment that with stuff people are paying for themselves.”

Vella is disappointed that he has had to cut back on the number of apprentices he takes on. But he is proud that the company is still investing in apprentices, and in training for all its staff.

He said: “We employ people who are specialists in particular areas – panel beating, perhaps, or being crash technicians.

“The industry has evolved a lot in the last 20 years. If somebody came to me now with the skills I had 20 years ago, they’d be unemployable.

“They’d be a jack of all trades, but now they have to be masters at what they do.”

In 2004, Vella won the Bodyshop Training Award at the Bodyshop Industry Awards.

And he is keen to pass on his skills to others – so much so that he has spent that last 15 years working with WorldSkills.

WorldSkills is a global competition, held every two years, where young people test their skills in areas

from aircraft maintenance to landscape gardening.

Vella first started working with WorldSkills in 1996, and is today the organisation’s chief expert in vehicle body repair.

Every two years, he hosts the qualifying rounds to find a panel beater to represent the UK. He then trains them to make sure they are ready to compete at international level.

“I’ve done eight competitions in the last 15 years,” said Vella.

“We won gold in 2005, bronze in 2007 and 2009, and silver in 2011 at Excel in London.”

His work saw him called to Buckingham Palace in 1996 to receive an MBE from Princess Anne in honour of his world skills work.

“That was a fabulous achievement for me,” he said.

Vella is committed to his home community, sponsoring the West Lancashire Girls Football League.

And he spend 15 years as president of Skelmersdale Brass Band.

“I don’t play an instrument,” he smiled. “I’m just local.”

Back at home in Burscough, Karl can often be found in the kitchen.

“I love cooking,” he said. “Everyone who eats my food says I’m a great cook.

“My kids love coming round for my stroganoff or Bolognese.”

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Wednesday, December 21, 2011

LDP business .co.uk Sporting success for event company SPORTING and entertainment hospitality specialist Opus Events says its annual A Question of Sporting Class event was a sell-out.

The Liverpool firm held the event at the city’s Crowne Plaza Hotel last week.

Based on the format of the BBC’s Question of Sport panel members included Steven Gerrard, Dirk Kuyt, Leon Osman and Ian Snodin with Ricky Tomlinson and Ricky Hatton leading the teams.

It attracted 430 people and £67,000 raised from a charity auction will go to the Steven Gerrard Foundation.

This is a big increase on the £24,000 raised last year.

Opus founder Lee McPartland said the success of the event rounded off a year of growth for the company.

He said: “A Question of Sporting Class was a huge success last year.

“Even so, I was amazed by the take-up this year and to see a fairly big event such as this sell out in days is fantastic.

“Opus is still a relatively new company – however we are partnering with some fairly major national organisations and are aiming to roll out some very exciting ideas into 2012.”

Mr McPartland started the firm earlier this year and the business has seen interest and sales in its bespoke hospitality packages increase throughout the period.

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Young entrepreneurs are inspired by Microsoft talk

by Alistair Houghton LDP BUSINESS STAFF

alistair.houghton@liverpool.com

A SENIOR executive from Microsoft has shared his secrets for success with young entrepreneurs at a Liverpool school.

Five students from Alsop High School, in Walton, have set up promotional video company Pear Productions to take part in Liverpool’s Great Enterprise Challenge.

And last week James Hsu, Microsoft’s Washington DC-based vice-president of public sector sales, spoke to them via Skype video phone about his business and career.

Pear has already won hundreds of pounds of business – and has reached the top 20 of the enterprise challenge, a council-run event in which the city’s 170 schools were encouraged to set up entrepreneurial ventures.

The students are based at Alsop’s Inspire Centre – a standalone unit in Connect Business Village off Derby Road, Kirkdale, that aims to teach students about the world of work.

Antony Stagg, head of Inspire, says he is keen to invite more business leaders from the UK and abroad to talk to students through Skype.

He said: “There’s no better careers advice than if kids hear somebody talk who’s in business.

“He wouldn’t be able to get a plane to come here. It’s hard for people to take time out of their day. But with this technology we can set up 10 calls a day.

“It can give the students huge insights. We’ve been able to set up mock interviews with employers.

People can give advice from the comfort of their own desks.”

Pear was set up three months ago and has produced three videos for three schools, as well as advertising posters seen at Alsop.

It recently won a £500 contract to produce short films for Alan

James Hsu, from Microsoft, speaks via Skype to Antony Stagg, third from right, and students at Alsop High School’s Inspire centre Picture: GAVIN TRAFFORD McCarthy, founder of The Resource Development Centre and one of the world’s leading sales development consultants.

Adam Cook, 18, is the company’s managing director. He said: “It’s good to have the opportunity to put this on your CV and do things like this.

“We hope to expand outside Liverpool. And we want to spread to work with companies as well – at the moment we’re just working with local schools.”

Phil Jamieson, who has just retired as Alsop’s headteacher after 39 years

at the school, said: “The team at Pear Productions, along with the staff, have put in an immense effort to move their business forward in the Great Enterprise Challenge.

“This is an excellent opportunity for us to showcase their talent in such a positive way.

“The link with Microsoft is a very special achievement for the students. I will be following their progress closely in the new year.”

Alsop’s team is one of 22 from city schools to reach the next stage of the enterprise challenge.

In January, those schools will be whittled down to 10 – and those five primary and five secondary schools will compete against each other in the final as part of the Global Entrepreneurship Congress in Liverpool in March.

City council cabinet member Cllr Gary Millar, who created the challenge, said the event had attracted many “amazing entrepreneurial ideas”, including Alsop’s entry.

He added: “This school has expertly demonstrated innovation, sustainability and growth.”

Not getting paid is main fear of small firms looking to export

Agency moves to waterside

NORTH WEST firms say the fear of not getting paid is a key barrier to exporting, new research reveals.

The survey by NatWest and the Royal Bank of Scotland (RBS), said that 33% of companies in the region were concerned about the issue.

With Europe as the UK’s primary export destination, current economic uncertainty may leave hopes of an export-led recovery in jeopardy.

However, despite fears of small firms not receiving payments, a quarter of non-exporters in the North West are confident their products and services would sell abroad.

The eurozone crisis hasn’t

THE Skills Funding Agency, a partner organisation of the Department for Business, Innovation and Skills, has relocated its Liverpool-based staff to Princes Dock.

The Agency staff, who are moving from The Plaza in Old Hall Street, will occupy approximately 2,540 sq ft of existing government office space in No 12 Princes Dock, until 2015.

The Skills Funding Agency funds and regulates adult further education and skills training in England.

Princes Dock is owned and managed by North West property giant Peel.

Liza Marco, property manager at Princes Dock, said: “Peel is delighted to welcome the Skills Funding Agency staff to Princes Dock situated within a stunning waterfront setting in the heart of Liverpool city centre.

“We are sure they will enjoy their place of work and the excellent facilities for occupiers at Princes Dock.”

stopped businesses looking at Asia and emerging markets as attractive options, with 46% in the North West claiming they see opportunities in these regions.

The key concern with trading in these markets is the lack of specialist knowledge.

Getting paid promptly is critical in the current economic environment and maximising working capital is vital for all businesses, yet 52% of all UK businesses surveyed said they were ill-informed of funds available to support export.

NatWest and RBS are providing a free half-day consultation to advise exporters on various forms of payments available to

them to successfully trade overseas.

Aidene Walsh, head of UK global transaction services at RBS, said: “Despite economic uncertainty, businesses are still hungry to trade overseas and 65% of them feel it is vital to economic recovery.

“The lack of tools and knowledge are clearly a hindrance and we are here to help them to take a leap into the exporting market.

“UK businesses should take a look at the wide range of tailored financial products available to help them fund and protect their international activity. We can advise on all these tools.”

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Astra says drug disappointments will hit profits CHESHIRE drugs giant AstraZeneca has warned profits would be at the lower end of its expectations after suffering setbacks in its efforts to produce new blockbuster treatments.

The UK’s second-biggest medicine maker said an ovarian cancer drug called Olaparib will not progress for

further development after tests revealed it was unlikely to prove effective.

And the results of tests on drugs for patients with major depressive disorders were disappointing although research is still ongoing.

As a result, the group said it will take impairment charges of £246m in the final

quarter of 2011, which means that its earnings were likely to be in the lower half of its range of forecasts.

Shares dropped 3% amid fears that Astra has relatively few new drugs to replace its existing stable such as Nexium for heartburn and schizophrenia drug Seroquel.

Astra, which employs

around 11,000 staff in the UK, has operations across the UK at sites including Macclesfield and Wilmslow in Cheshire, Luton, Loughborough, Edinburgh and Brixham in Devon.

The pharmaceuticals industry is facing a challenging period as it looks for new products and faces the loss of exclusivity on existing drugs.

Astra has in recent years been hampered by problems with its newest medicines after it discontinued its Motavizumab drug, used to prevent serious lung disease, leading to a £287.2m accounting charge. It also suffered delays in winning approval from US regulators for its heart medicine Brilinta.

Bank backs restaurant group’s push for growth

by Tony McDonough

LDP DEPUTY BUSINESS EDITOR tony.mcdonough@liverpool.com

UPMARKET restaurant and bar operator Living Ventures has secured a £4m funding package from its bankers.

The company, which owns more than 20 outlets across the North West, has refinanced and increased an existing credit facility with Lloyds Bank Corporate Markets.

Living Ventures was behind the hugely successful Living Room chain, which it sold for £28m in 2007.

It now operates a number of brands including the seafood and steakhouse chain, Blackhouse, Italian-flavoured Gusto – with outlets in Liverpool and Heswall – as well as Suburbia, Alchemist and Australasia.

It also owns the former Paul Heathcote restaurant, the Olive Press, in Liverpool’s Castle Street which it intends to convert to one of its own brands.

Living Ventures says it intends to use the new facility to consolidate the strong performance of its restaurants and bars, with those in the North West having performed particularly well in a challenging and highly competitive market.

Overall restaurant sales have seen like-for-like growth of 3% this year with the company’s Gusto brand, which has nine properties around the UK including Cheadle, Didsbury, Knutsford and Alderley Edge, enjoying a particularly strong performance, recording like-for-like growth of 4%.

The fresh injection of funds from Lloyds in Manchester will enable Living Ventures to continue a programme of refurbishment works as the company targets increasing sales despite the challenging economic environment.

Managing director Tim Bacon said: “We are delighted to have secured fresh support for the business through Lloyds Bank Corporate Markets.

“The team in Manchester really understands what we are trying to achieve.

“We are on a positive trajectory and having still greater financial backing is exactly what we need to consolidate our position in the market.”

The company's most recent openings have been focused on the Spinningfields development in Manchester.

Tony Buchan, relationship director at Lloyds Bank Corporate Markets in Manchester, said: “Living Ventures has overcome highly challenging market conditions to record strong growth, which is testament to the strength of its management team.

“This latest financial package provides a platform for more of the same – the company will continue to modernise and strengthen its existing portfolio and that consolidation will reap rewards.”

Mr Bacon’s first foray into Liverpool came in 1998, when he opened what was arguably the first modern-day trendy bar in the city – the Life Café Bar and Restaurant, in Bold Street, which he later sold.

Hauliers ‘facing a bleak winter’

HAULAGE firms across the North West are facing a harsh winter as they feel the impact of a financial double whammy, according to the insolvency trade body R3.

Not only are firms under pressure from rising fuel costs and the duty imposed on it, but also European regulations that require them to have access to capital to be able to operate.

Jeremy Oddie, North West regional chair of R3, said: “Under the rules, hauliers have to be able to demonstrate their ongoing financial viability, which in practice means they need to have significant amounts of capital in the bank and available to them.

“The banks’ current reluctance to grant credit is placing increasing pressure on hauliers’ operations.”

His view is backed by David Glover, director at specialist North West transport and commercial law firm Marshall Glover.

He said: “The last few years have almost produced the perfect storm for the regional haulage industry – not only has the cost of fuel risen dramatically, but the decline in the retail sector has meant that there have been fewer cargo loads that need transportation and hence more competition.

“The cherry on the top has been the availability of finance from the banks becoming far less flexible. Hauliers need to have access to £4,500 for each vehicle they run.”

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January workshop for women

Business study

BUDDING women entrepreneurs can get their New Year’s resolutions off to a flying start at a workshop in Liverpool in January.

Reflect & Renew: Time For You takes place on January 14 at Liverpool Hope University

BUSINESS in Liverpool are being urged to take part in an IT and telecoms study, commissioned by telecoms firm TalkTalk Business.

The report is being conducted by independent research body and IT publisher, IDG Global Solutions.

To take part log onto www.talktalkbusiness.co.uk/solutions/businessbenchmark/

with trained coaches from Appreciation Works, a social enterprise set up by Liverpool business specialists Suzanne Quinney and Helen Bush.

The workshop will study participants’ strengths and how they can fulfil their busi-

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ness and lifestyle aspirations.

Ms Quinney said: “Take some time out and give yourself a chance to reflect, renew, relax and re-vision for the New Year. Our workshop will use a mixture of coaching techniques.”

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MBNA sells debt portfolio to Paragon in £55.7m deal

by Alistair Houghton LDP BUSINESS STAFF

alistair.houghton@liverpool.com

UP-FOR-SALE credit card giant MBNA has sold off a portfolio of debt for £55.7m.

Paragon Group has bought the “portfolio of closed UK consumer credit card receivables” from its cash reserves.

The portfolio consists of debt on which customers have defaulted.

MBNA regularly sells off such debt.

MBNA itself, which employs more than 3,000 people in Chester, has been put up for sale by parent Bank of America. The Paragon deal is unconnected to that process.

West Midlands-based Paragon calls itself “the leading independent provider of mortgages to residential property investors”.

It said the MBNA deal would be earnings enhancing within this financial year.

Nigel Terrington, chief executive of Paragon, said: “We are extremely pleased to announce a further significant portfolio acquisition through our investment division, Idem Capital.

“This is the seventh portfolio that has been acquired by Idem and brings the total investment to date to £145.2m.

“Portfolio acquisitions have become an increasingly important part of the group's activities and Paragon's track record of loan servicing, risk management and portfolio investments position it well to exploit similar opportunities as they arise in the future.”

Bank of America put MBNA up for sale in August, raising fears over the future of the Chester site.

That month, LDP Business revealed that Virgin Money was considering a deal for MBNA. Virgin Money has a 50-50 joint venture with MBNA which represents around 35% of the Chester company’s balance sheet.

MBNA’s site at Chester Business Park is one of the region’s biggest employers Professor Steve Broomhead, former chief executive of the Northwest Development Agency, is leading a task force that aims to help secure the future of the site.

In October, it was reported that Bank of America believed initial

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expressions of interest from Barclays, Virgin Money, Santander and US rival Capital One had fallen short of its expectations. But the sale process soon got back on track – and reports this week suggest that Bank of American is now mulling over four bids.

Since August, MBNA has since shed hundreds of jobs as it prepares for a sale. But in January, Bank of America said it would create up to 1,000 jobs in Chester by setting up a global technology and operations centre. The site is set to open by 2013.

news

St Helens Chamber appoints director THE former head of strategy at the Northwest Development Agency has joined St Helens Chamber as its director of business services.

A key element of Tracy Mawson’s new role will be investigating current business trends and the ways in which they impact on members.

She said “I am looking forward to working with real businesses, finding out more about some of the many interesting and unusual businesses that make up the membership of the Chamber and working out ways in which we can support them to be even more successful.”

Having begun her career in the private sector in London, Ms Mawson moved to the North West in 2003 to join The Mersey Partnership.

She added: “My previous experience has helped me to really understand the North West and how important St Helens is in the region.

“It also made me appreciate some of the issues that are common across the region, such as how we keep talent in the North West, rather than losing it.”

And she added: “I am looking forward to working to bring more public sector finance into the area.”

NWAA reveals staff changes

Sir Michael launches the Fairbridge charity push

A CHANGE to the marketing team at the North West Aerospace Alliance (NWAA) has seen former communications co-ordinator Victoria Ingham step up to take on the role of marketing manager.

Ms Ingham joined the NWAA earlier this year and in her new role will lead the marketing of the of the body including promoting its services and programmes to members and heading up its presence at international air shows.

Meanwhile, Amiee Giles has joined the NWAA as communications co-ordinator for its ASCE 2 (Aerospace Supply Chain Excellence) programme, a £7m initiative which aims to deliver more than £100m additional revenue to the regional economy and 400 jobs.

Ms Giles joins from Cott Beverages, the world’s largest retailer brand beverage company.

The trained graphic designer will also raise awareness of the programme to the wider NWAA membership.

She said: “It is an exciting time for me to be stepping up to this role, just as the NWAA looks to have secured further funding under the Regional Growth Fund announced recently.”

ONE of Merseyside’s biggest corporate charity campaigns, the Fairbridge Zero to Hero challenge, is formally launching this month with an aim to raise more than £100,000.

Sir Michael Bibby who heads the Fairbridge fundraising committee – now part of The Prince’s Trust – said support for this year’s Zero to Hero corporate fundraising campaign has never been more vital.

The Zero to Hero challenge sees organisations compete to turn £500 into at least £5,000 by forming a business idea.

The teams and their ideas have already been grilled by a Dragons Den-style panel including Cammell Laird chief executive John Syvret and Sir Michael who is the Bibby Line Group managing director.

Teams confirmed to take part include Bibby Financial Services, Cammell Laird, Merseyside Police, Barclays, Weightmans, Hill Dickinson, Brabners and Deloitte.

The ideas include a Merseyside Police jailbreak, a Barclays football competition, a Hill Dickinson fashion show, a Cammell Laird

calendar and Weightmans Christmas cards.

“The work of the Fairbridge programme today is more relevant than ever especially as we are looking to fund a move into new premises to enable us to work with more young people,” said Sir Michael.

“The vast majority of young people were not involved in the riots over the summer and it is these young people who are now vulnerable. Together with The Prince’s Trust, there is a range of specialist programmes and support which can make a difference.”

7

Wednesday, December 21, 2011

LDP business .co.uk

news

LIVERPOOL’S INVESTMENT SPECIALISTS

IN ASSOCIATION WITH

Liverpool sucks up the economic output of the rest of Merseyside

Alex Turner ONE of the problems with regional economic data is that by the time it is sufficiently robust it can seem too dated to be relevant.

Take the information from the Office of National Statistics on gross

value added (GVA) figures, released last week. It measures economic output, but its sub-regional data is only for 2009.

In normal economic times, the two-year-old data just about has some merit. In the current turbulent times, it feels like the latest offering from David Starkey or Simon Schama.

So we know that in 2009 – buoyed by the after-effects of its year as European Capital of Culture, and the huge impact of Liverpool One and the Arena and Convention Centre – Liverpool’s GVA per head figure fell only 0.7%, while the UK saw a 2.7% drop.

This put the city in the top five sub-regions for its performance that year, and builds on a strong showing over the previous five years, with Liverpool high in the list for growth from 2004.

It is accepted wisdom that Liverpool is the driver of the Merseyside economy, so it would be reasonable to expect that Merseyside had also done well from 2004-09.

But like a lot of accepted wisdom, it turns out not to be all that wise.

In that five-year period, Liverpool’s GVA jumped 18.7%, but Merseyside’s GVA only increased 13.9%

compared with a UK average of 13.7%. The 10-year trend is similar.

From 1999-2009, Liverpool’s GVA rose 55.5% but Merseyside’s increase of 46.2% was only just ahead of the UK average of 45.1%.

This trend is hugely concerning because it reveals that for all the money and endeavour and apparent success, Merseyside has failed to close the historic economic gap and instead has done little more than keep pace.

The data clearly shows that Liverpool is not driving the sub-regional economy, but sucking up the output

‘This region has failed to close the gap’

from other parts of Merseyside.

Sefton and Wirral, already poor performers, have fallen further behind. Over a decade their GVA figures increased 30% and 29% respectively, but inflation was 33%. In real terms, their economies have shrunk since 1999.

In the same way that the South East distorts the UK picture, it appears that what is true for Liverpool isn’t necessarily true for Merseyside, and that needs to be a major concern for the sub-region.

■ Alex Turner is the general manager of financial training firm Ambitious Minds.

Building a bright future in industry

Neil Geoghegan and Peter Watson, formerly of Business Link and now running their own company, The Data Works

Business Link duo returns with marketing data firm

by Alistair Houghton LDP BUSINESS STAFF

alistair.houghton@liverpool.com

TWO former senior managers at support service Business Link have formed their own marketing intelligence business.

Neil Geoghegan and Peter Watson, he former business development director and chief executive of Business Link North West, have set up The Data Works to offer access to a database of more than 4m businesses.

Mr Geoghegan and Mr Watson say their time at Business Link showed

then that small firms needed access to such detailed data to help them work out which companies they should target with their marketing materials.

“That was the nut we’ve tried to crack,” said Mr Watson. “We think we’ve cracked it.”

They left Business Link last year, starting The Data Works in Warrington this year.

Their system contains information on 4.3m businesses, with 250 attributes analysed for each – ranging from their size and where they are based to the age of age of the business.

Businesses can also be defined by

type, ranging from ”local solid rocks” to “independent entrepreneurs”.

Those attributes allow Data Works to refine the information to suit clients.

Launching the firm, Mr Geoghegan said: “Data affects every aspect of a business today, from selecting target markets for a marketing campaign to a feasibility study for a new area of trading.

“Working with Business Link North West, gave both Peter and I a clear understanding of the needs of the SME market.

“In a difficult trading climate Brit-

ish business owners need enriched data intelligence in order to deliver on their corporate objectives, they need it in real-time and they need it to provide greater added value in the marketing process.”

He told LDP Business: “In sales and marketing, it’s about the what and the how. A lot of people look at the how, but seldom at the who. I’ve always had a problem with that.

“If you don’t know the who, how on earth are you going to do the how?

How do you plan a strategy or a campaign if you don’t know who you’re going to talk to?”

STAFF from JobCentre Plus in Liverpool have visited a construction site to learn more about the building industry’s skills needs and recruitment challenges.

They visited Balfour Beatty’s site in Cawthorne Avenue, Kirkby, in an event organised by the construction firm and training body CITBConstructionSkills.

Russell Buckley, delivery manager for CITB-ConstructionSkills in the North West, said: “The event aimed to encourage recruitment staff to better understand the skills that are needed within construction and to give them more information about the opportunities and career prospects the sector offers.

“This forms part of our drive to bring new blood into the industry and ensure that we have the right skills.

“It’s important recruitment specialists know as much as possible about the industry so they can provide sound advice to interested parties and recognise potential recruits to the sector.”

Nina Thornton, of Balfour Beatty, said: “Many recruitment officers may never have visited a live construction site before, so by opening our doors to them we are helping them to understand the needs of construction employers, the wider industry and the apprenticeship format.

“Giving them the tools they need to introduce talent to the sector can only be a good thing.”

8

Wednesday, December 21, 2011

LDP business .co.uk Bill Gleeson Searching for a glimmer of hope on the high street THE results of yesterday’s CBI retail survey caused an initial flurry of excitement when they were published.

The initial word was that the CBI’s distributive trades survey showed the strongest period of year on year growth in the sector since May. According to the employers’ organisation, a positive balance of 9% of retailers reported a rise in sales in the first weeks of December compared to the same period a year ago.

One group that was not benefiting from any uplift was big ticket items like furniture and white goods, but early discounting of clothes has helped boost sales.

The Christmas trading period is probably not as bleak as feared.

Locally, its hard to be certain what is going on.

Liverpool City Central Business Improvement District yesterday reported a 29% rise in footfall, but that news has to be interpreted in the context of last year’s big freeze, which kept shoppers at home for the best part of two weeks. Indeed, some of the stores closed early.

What is interesting is that footfall in Liverpool city centre this year is 6% up on 2009. That seems to indicate that Liverpool continues to attract fresh trade in the wake of the opening of Liverpool One. THE OFFICE for National Statistics publishes economic output data for the 37 sub-regions of Britain this time every year.

This year’s figures contained a surprise. Liverpool and Merseyside had withstood the 2009 recession better than most other parts of Britain.

Economic output for Merseyside did fall by 1.5%, only half of the fall suffered by the UK as a whole. Liverpool did even better, falling just 0.6%.

The obvious causes of the resilience of the local economy have to be the first full year of trading at both Liverpool One

and the Arena and Convention Centre.

Another factor will have been the cushion provided by the city region’s usually much lamented over-dependence on the public sector for employment. The statistics covered the period before the 2010 general election and, therefore, before public spending cuts started to bite.

2010 was a period of tentative economic recovery, with all regions of Britain showing some gain. What this means for Merseyside and Liverpool will not be known for another 12 months, while the statisticians crunch the numbers.

What’s for certain is that when 2011’s figures are published they will reflect fresh lean times.

Nor will there be the benefit of new developments adding to Merseyside or Liverpool’s output, so our performance won’t look so strong.

A SURPRISING feature of the current tough conditions is the very different ways they are affecting firms and their behaviour.

Big ticket furniture chain DFS should be a prime example of a business adopting a defensive posture at the moment.

Far from it, DFS is currently investing to expand its chain.

Construction group Morgan Sindall is also in a sector that is badly affected by the downturn, but last week it told us that its order book had almost doubled.

Indeed, hardly a day goes by that there isn’t some nugget of good news to be found among the otherwise gloomy outlook.

It’s probably a question of winners and losers.

Firms that survive get to pick off the best business from those that fail, meaning it can actually be a good time for the leanest, fittest and best.

If that’s true, it should bode well for the future.

When things pick up again, the lean will thrive.

City shops are Liverpool finds it has little to learn from retail expert Mary Portas’s new national report, says Peter Elson TV SHOPPING guru Mary Portas has been the latest in a long line of experts to suggest remedies to halt town centre high streets’ apparent terminal decline.

Commissioned by the Prime Minister, David Cameron, Ms Portas’s report appeared as UK high street retailers battle with online shopping, tight-fisted banks, eurozone trauma, out-of-town shopping centres, bloated supermarkets and impoverished consumers.

But there is a beacon of hope for what many critics claim was a problem which should have been addressed 20 years ago.

And that shining example for the rest of the UK is Liverpool city centre.

Footfall in the City Central Business Improvement District (BID) area for the first 18 days of December stood at 5.2m.

That is 29.4% up on the same period last year, when the city was hit by blizzards and icy weather, causing many shoppers to stay at home.

But it is also 6% up on the same period in 2009, and 14.6% up on 2008, showing visitor numbers are rising.

Liverpool has also become the first city in the UK outside London to monitor sales figures among its retailers.

It is surveying 20 of the city centre’s biggest retailers to get a picture of how shops are performing.

The survey started in September, but it has already shown October sales were up 5% on September, and November sales up 3% on October. However, everyone agrees that the first quarter of 2012 will be the worst for years.

Apparently when compiling her data, Ms Portas, who achieved fame with her Queen of Shops series, was delighted to find Liverpool’s leaders had already implemented many of her conclusions.

Her call for “town teams” of managers is already in place with Liverpool City Central and Commercial BIDs. “For once we’re ahead of the curve and in the vanguard of what you need to do,” said Ged Gibbons, chief executive of Liverpool City Central BID. “Because Liverpool went through such a bad time in the 1970s and 1980s, we started addressing our high street problems much earlier than anywhere else in the 1990s.

“That’s why, in spite of the recession we have gone from nowhere to fifth place in the UK retail league.

“We met Mary Portas last summer and it was clear she understood Liverpool was setting the pace.

“What she likes about BIDs is they provide a mechanism for retailers to express what they want and the levy they pay gives us the means to deliver real benefits and respond directly to their needs.

“In a nutshell it’s about generating footfall and increasing dwell time (which are crucial to boosting sales) while making the shopping experience as high quality and safe as it can be.”

In contrast, Ms Portas speaks of years of “erosion, neglect and mismanagement” leaving many town centres and market towns on the brink of extinction.

Ms Portas warns that unless “urgent action” is taken, “much of Britain will

lose, irretrievably, something that is fundamental to our society”.

In 2011, around 20 shops closed daily across UK. On average one in seven shops on high streets stand empty and four in ten shops lie vacant in some towns.

“Many (high streets) are sickly, others are on the critical list and some are now dead,” said Ms Portas.

The report outlines 28 recommendations to halt the rapid decline of town centres. Ms Portas will put in place pilot schemes in various towns across the UK so that her “vision” can be tested.

Paul Rice, chief executive of Liverpool Commercial District BID, which started on June 1, said: “The Portas review puts forward new and valuable ideas as to how to save the British high street.

“It was particularly pleasing to see that two of her top three recommendations make specific reference to business improvement districts.

“She states we need to empower successful business improvement districts to take on more responsibilities and powers and become Super-BIDs.” The City Central BID collects a 1.2%

‘For once Liverpool is ahead of the curve’

levy on the rateable value of each property to manage the public domain, raising around £600,000 from 630 businesses.

Mr Gibbons is often invited to seminars to explain how the private sector can be brought in to fill the gap left by the receding public sector.

“The bottom line is consumer convenience, that’s why supermarkets and retail parks are so popular,” said Mr Gibbons.

“Back in the 1960s there was no virtual high street online for people to window surf through.”

Intriguingly, there is a high street fight back which harnesses, rather than submits, to internet shopping.

Nicknamed “click and brick”, it entails customers shopping online before 3pm and having the goods delivered to the shop by 9am the next day.

House of Fraser has re-established its presence this way in Liverpool One after leaving nearly 30 years ago when its Hendersons store closed.

Chris Bliss, Liverpool One estates director, said that people in his home town of Tring were worrying about its high street dying 20 years ago.

“What it does emphasise and prove is that where Liverpool is able to buck the trend is by precise collaborative and col-

9

Wednesday, December 21, 2011 IN ASSOCIATION WITH

the big feature

LIVERPOOL’S INVESTMENT SPECIALISTS

e ahead of the curve Christmas shoppers have been out in force in Liverpool despite the economic gloom

Mary Portas was tasked with coming up with a plan to revive UK high streets

Saving the fast-fading British high street the Mary Queen of Shops way lective management by everyone involved in running the city,” he said.

“This is so much more important these days to ensure that the whole experience is joined up.

“Liverpool One is in essence a mini town team, which also works with the City Centre Neighbourhood Team, City Council and City Central BID. These bodies pull together for the greater good.

“Last week we saw a 12.5% rise on footfall compared to last year, with 730,000 visitors which is a chunky rise.

“Obviously, we had very bad weather last year, but this is in the context of a 2.5% drop nationally.

“Liverpool City Centre BID is strong and successful but is still evolving.

“Liverpool One is lucky that we can manage it even more intensively than the city centre management team.

“It means we can stage place-making events such as the summer beach or piano festival to add to the experience when you shop here.”

Not that City Central BID is a slouch in that area, with its Bold Street Festival and Curious Village, an Alice in Won-

derland-themed children’s outdoor attraction for Christmas in Williamson Square.

Mr Gibbons said: “For the first time this year we’ve joined forces with Liverpool One and Metquarter shopping centres on the city’s first joint Christmas marketing campaign for Liverpool reaching well over 3m people.

“Outdoor events like The Curious Garden have made a massive difference to footfall and dwell time. November figures show a 14% rise on last November.

“Liverpool does street animation really well; events like Brasilica, Brouhaha and Sea Odyssey for the Titanic centenary next April.

“Without BID status these activities could never have happened.”

Liverpool also avoids Portas’ parking complaints as two thirds of shoppers arrive by public transport.

Liverpool has successfully pioneered BIDs. The model that works so well here could prove to be a lifeline for many ailing high streets. ●Read Tony McDonough’s All Hail Mary blog on: blogs.liverpooldailypost.co.uk/businessbeat/

‘Last week we saw a 12.5% rise in city footfall’

MARY PORTAS has made 28 recommendations on reviving the UK’s dying high streets.

Ged Gibbons, Liverpool City Central Business Improvement District (BID) chief, gives his views on her ideas.

Her key ideas include “town teams to run town centres like a business” which fits the BID template, said Mr Gibbons.

A National Market Day to create interest in markets and reduce regulations on market traders will add to the retail offer, she said.

“We already have street markets in Liverpool, but they must be regulated so as not to create commercial conflict and to protect consumers. Who will oversee quality control?”

As for ministers being able to veto out-of-town retail developments, Mr Gibbons said: “I feel the horse has already bolted and the government should have acted years ago.

“There is now a new term called Tescopoly, to describe how one supermarket chain, Tesco, is so powerful it can dictate terms. We live in a Dar-

winian world – survival of the fattest.”

Ms Portas wants landlords to be penalised for leaving shops empty.

Mr Gibbons said: “It’s a noble sentiment, but I think almost impossible to enforce.

There is a big problem with absentee landlords and enforcing such responsibilities.”

Business rate concessions: Ms Portas says the same discounts given to charity shops should also apply to retail start-ups and small businesses.

“Any assistance to small business start-ups would be welcomed,” said Mr Gibbons.

“Entrepreneurial flair is alive and kicking in Liverpool, but it’s unable to get the funding from banks, in spite of what they say.

“This is a huge issue and these new businesses could flourish with the right help.

Ms Portas believes that free car parking should be set up by local authorities, with a league table to make charges transparent.

Mr Gibbons said: “The problem is, with councils losing

central funding, that car parking is an income generator. I don’t see on-street parking as a cash-cow in Liverpool.”

Major retailers should report on their support of local high streets in their annual report, says Ms Portas.

“Some already do through Corporate Social Responsibility schemes,” said Mr Gibbons.

“Through the BID levy we pool our resources and big retailers help the little ones.”

However, Mr Gibbons is very supportive of her desire to cut red tape to allow high streets to prosper more easily.

“I absolutely agree with this. We were told we couldn’t put up bunting in Bold Street for the festival as it would hinder access by fire tenders.

“This sort of attitude is mind-numbing. It’s as if there are progress prevention officers. Legislation should be to our benefit not our cost.

“These are times when local authorities are less about giving finance, but instead about supporting business focus, as 80% of BID funding is in the private sector.”

10

Wednesday, December 21, 2011

LDP business .co.uk briefing BAE wins a £40m deal with MoD DEFENCE firm BAE Systems has won a £40m four-year contract with the Ministry of Defence to ensure the UK retains a leading edge in the next generation of unmanned drone planes.

It will work with the MoD to keep its unmanned air system strategy up to date with the latest technology.

Simplyhealth buys Denplan HEALTH payment plan provider Simplyhealth has agreed to buy Denplan from insurance giant AXA UK for £115m.

Denplan is the UK’s leading dental plan provider serving over 1.8m patients.

The deal follows Simplyhealth’s recent acquisition of Groupama’s UK private medical insurance business.

Wind fall ENERGY watchdog Ofgem is consulting on proposals to shake-up the way energy generators are charged to use the high voltage grid. The changes would see charges reduced for windfarms of up to 60% because they do not constantly produce electricity.

Pru change THE UK’s biggest insurer Prudential said Harvey McGrath will retire as chairman next year once a successor has been found.

He said he wanted to devote more time to his roles in the public, educational and philanthropic sectors.

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news

Deputy governor confirms contingency plans for euro

by Andrew Woodcock LDP CORRESPONDENT business@liverpool.com

THE Bank of England is making preparations to support UK banks in the event of a break-up of the eurozone, deputy governor Charlie Bean confirmed yesterday, describing the present state of the single currency area as a “worrying situation”.

Mr Bean said that the Bank has recently introduced a temporary loan facility as a precaution, for use in the event of contagion from the eurozone crisis endangering British institutions.

The deputy governor predicted “pretty flat” economic conditions in the UK over the next six months, and did not rule out a “double-dip” recession. But he forecast that a sharp decline in inflation would see spending and growth begin to rise again by the time of the Olympics in the summer.

He did not rule out a further round of quantitative easing at the time of the Bank’s Monetary Policy Committee (MPC) meeting in February.

In an interview on BBC Radio 4’s World at One, Mr Bean was asked if he feared a collapse in the single currency, with one or more of the 17 member states leaving the euro.

He replied: “I don’t want to put probabilities on it breaking up, but it is clearly a worrying situation.

“Countries eventually may feel that they are better off outside the eurozone than in it.

“One thing that is important to stress is that it is not easy for a country to leave. It is quite a disruptive thing.

“If, say, Greece were to decide to leave and reintroduce the drachma, what you would probably find is that immediately people would take money out of Greek banks, the Greek bank system would be in great difficulties, businesses would find some of their assets and liabilities would be redenominated in drachmas while some would stay in euros, they could well find themselves going bankrupt.

It’s a very, very costly direction to go.”

Mr Bean made clear that Britain would not be immune from the impact of a break-up in the eurozone, even though it is not a member of the single currency.

Problems in the eurozone would hit British exporters and would also affect banks carrying heavy exposure to German and French financial institutions, which are themselves exposed to the more vulnerable economies of southern Europe.

He said: “If there are serious storms coming from across the Channel which we have to cope with, there are a number of things we can do.

“UK banks don’t have very heavy exposures to the troubled parts of the eurozone, but we would have exposures to French and German banks which have more significant exposures, so there could be linkages there.

“In those circumstances we would provide temporary loans to banks in difficulty. We have various facilities, and introduced a new one just a couple of weeks ago as a precaution. It’s not needed at the moment, but if we get into difficulty, we have got it there.”

Mr Bean said banks had been build-

There are concerns that a contagion from the eurozone crisis could endanger British institutions

Charlie Bean said the eurozone was is a ‘worrying situation’ ing up capital to act as a buffer against turbulence, by reducing the proportion of their profits handed out in dividends and bonuses.

Mr Bean said a return to recession was “always possible” but added that it would be a mistake to focus too closely on the question of whether small shifts in the data met the technical definition of a recession as two successive quarters of negative growth.

“Of course, it’s always possible for there to be a contraction in activity,” Mr Bean said. “Our central view on the MPC is that output is likely to be broadly flat through the last part of this year and the first half of next year.

“The broad picture is likely to be of output pretty flat, but as we go into

next year inflation should be coming down pretty sharply and that will help to boost the rate of growth of household real incomes and help to support consumer spending.

“So by the time we get to the Olympics, hopefully I think things should be starting to turn round. In the second half of next year, we should see some return to growth.”

Mr Bean indicated that the Bank would like to see a return to higher interest rates, after holding the base rate at a record low of 0.5% since March 2009, in order to provide incentives to save. But he said that the record low could be expected to remain in place “for the time being”.

“From our perspective, the sooner

we can get back to a world of normal interest rates, the better,” said Mr Bean, who added he had “every sympathy” with those whose income from savings has been drastically reduced over recent years.

But he went on: “We feel that it makes sense to preserve this world of rather low bank rates for the time being, but no doubt the time will come when it will be appropriate to start raising bank rates again.”

And he made clear that the MPC is ready to consider printing money again in a new round of quantitative easing (QE) designed to inject vigour into the economy.

Asked if more QE was on the cards, Mr Bean said: “If we feel it is necessary to inject further stimulus in the economy to keep nominal spending growing and prevent inflation falling too low two or three years out, then we will certainly be willing to do more.

“But we don’t really need to prejudge that now. We can wait and see what’s happened by February. There may have been a lot of developments in the eurozone and UK by then.”

Mr Bean said it would be wrong to think that the UK’s economic prospects were entirely gloomy.

“It is always very easy to feel gloomy about the economy, particularly when things might be turning down,” he said.

“But the one thing we know about economies is that they do tend to be self-righting.

11

Wednesday, December 21, 2011

LDP business .co.uk

LIVERPOOL’S INVESTMENT SPECIALISTS

IN ASSOCIATION WITH

Price cuts boost retailers but grim January is forecast A SPATE of early discounting has helped retailers attract shoppers before Christmas, but the uplift is not expected to last into the new year, a survey revealed.

Business body CBI said retail sales volumes rose in December for the first time in seven months, with a balance of 9% of traders reporting an increase on a year ago when

Arctic weather conditions kept shoppers at home.

Sales of food, toys and items sold via the internet all enjoyed strong growth, but consumers remained wary of buying “big ticket items” such as fridges and washing machines, and overall volumes were still below normal.

Expectations for next

month remain bleak, with retailers forecasting that volumes will decline again despite it being a time of the year when shoppers are normally attracted by January sales.

Asda chief financial officer Judith McKenna, who is also chair of the CBI’s distributive trades panel, said: “Early discounting helped retailers add

a little extra sparkle to their sales in December, although the reprieve appears to only be temporary.

“Consumers are continuing to hold off on purchasing big ticket items, preferring to use their hard-earned cash to stock up for Christmas dinner and all important gifts.”

Samuel Tombs, of Capital Economics, said the survey

suggested that pre-Christmas trading “may not be the complete write-off that anecdotal evidence had been suggesting”. But he added: “The woeful state of consumers’ finances suggests that, even if festive trading turns out to be brisk, the chances are high that the post-Christmas spending hangover is even deeper than usual.”

Liverpool in battle for £100m web funding pot

by Alistair Houghton LDP BUSINESS STAFF

alistair.houghton@liverpool.com

LIVERPOOL is set to battle it out with nine other UK cities for a share of £100m to boost broadband speeds.

Culture Secretary Jeremy Hunt said the UK’s four capitals – London, Belfast, Cardiff and Edinburgh – will all benefit from the funding announced by Chancellor George Osborne in the Autumn Statement.

Manchester, Sheffield, Liverpool, Bradford, Leeds, Glasgow, Newcastle, Nottingham, Birmingham and Bristol will now vie for the remaining six places on the scheme.

The funding will be used to create “super-connected” cities with 80-100Mbps broadband access and bidders will have to show how they will use that to “drive growth” and attract new businesses.

Liverpool is already at the forefront of the drive towards high-speed internet access, thanks to the Liverpool FibreNet scheme that will give the city some of the fastest commercially-available broadband internet speeds in the world.

So hopes will be high that Liverpool can win more funding to boost speeds still further.

Mr Hunt said: “The internet is now a fundamental part of our economy. We must ensure the UK has a broadband network fit for the digital age.

“Transforming communities into super-connected cities will enable them to compete with the world’s top digital cities. It will help them attract new jobs

and new investment and make the UK a place where digital businesses look to come.

“It will help our creative industries and hi-tech companies grow while making the UK even more attractive to overseas firms.”

BT and Virgin will strengthen their networks in the winning cities to deliver higher broadband speeds and the money can be used to provide coverage in areas where the companies will not go.

The winners will be announced in the Budget in March.

BT and Virgin have pledged to strengthen their networks in the winning cities to deliver 80-100Mbps broadband speeds. Each city’s share of the £100m can be used to provide coverage in areas where BT and Virgin will not go or services beyond what the market will provide.

A BT spokesman said: “It is important for the public and private sector to work together if the UK is to have the best possible broadband network and so we look forward to working with the selected cities to see what can be achieved.”

Liverpool is one of the test-beds for the Government-backed FibreNet project which will offer connection speeds of 10Gbps (gigabits-per-second) – 100 times faster than what is currently available in the UK. The £1m project went live in November, when project leader AIMES Grid Services urged small firms and other organisations within the areas covered to sign up for a 12-month free pilot.

THE boss of National Express said the transport group had finished the year in “excellent shape” as it reported sales growth across all its divisions.

The group expects to report revenues growth at its rail, coach and bus divisions in 2011 as higher petrol prices forced people from their cars onto public transport.

National Express said it was in line to meet full-year profit expectations as rail revenues are expected to have grown 6% this year, bus revenues are forecast to be 4% higher and coach revenues ahead 5%.

The update came as the Association of Train Operating Companies (Atoc) revealed prices would increase at an average of 5.9% this January, following an average 6.2% increase at the start of this year.

Elsewhere, National Express’s coach and bus divisions came under pressure from a Competition Commission report, which called for reforms to make it easier for new entrants to gain a foothold and prevent existing operators from undermining rivals.

Dean Finch, National Express chief executive, said: “National Express is finishing 2011 in excellent shape.”

National Express said profit margins in its bus division have climbed back to above average levels for the industry, while passenger numbers returned to growth in the West Midlands.

MOBILE Culture Secretary Jeremy Hunt wants cities to bid for a share of a £100m funding to help them become ‘super-connected’

Charge drop

CHEQUE guarantee cards will not be re-introduced, the body which oversees payments said yesterday, after finding that the scheme’s closure has had a “minimal impact”

HOLIDAYMAKERS will no longer be charged for purchasing foreign currency with a debit card in the UK at five major banks, the consumer watchdog announced.

Lloyds, Barclays, RBS, Santander and the Co-operative Bank have all agreed to remove the charges.

altogether.

The body has come under pressure to re-introduce the scheme, and had promised to look again at the business case for closure if this was backed

National enjoys growth in sales

LDP

No return for cheque guarantee on consumers and businesses.

The Payments Council, abandoned the cards in late June due to declining use before reneging on plans to end the use of cheques

news

up by research.

But the independent research found that cheques are broadly continuing to be used as they were before the guarantee scheme closed in June.

For News, Sport and Business on your phone

Text LDP to 67800

12

Wednesday, December 21, 2011

LDP business .co.uk

location

LIVERPOOL’S INVESTMENT SPECIALISTS

IN ASSOCIATION WITH

UK Government proposals should breathe new life into REITs

view point

by Sean Beech, Deloitte North West head of real estate REAL Estate Investment Trusts (REITs) came into being in the UK as part of the Finance Act 2006,

Property returns struggle COMMERCIAL property in the UK produced a total return of 0.5% in November, with uncertainty over the country’s economic prospects and its ability to avoid recession in 2012 weighing on property values, Investment Property Databank (IPD) said.

IPD data showed the 0.5% total return included 0.5% of capital gains, with nil income returns. The total return for offices and industrial property was 0.6% and 0.4% in retail, IPD said in a statement.

“Poor economic growth forecasts, the ongoing eurozone crisis, high unemployment and inflation still hovering around 5% have left consumers and businesses, occupiers and owners alike, feeling out of pocket,” said Malcolm Hunt, IPD’s UK and Ireland client services director.

“Deep uncertainty about the potential of the UK to avoid recession next year is now finding its way into property values.”

but there are still only 24 of them in existence.

At nearly five years old, their future may now look brighter.

Under new proposals announced at the beginning of this month, the 2% entry charge is being abolished in summer, 2012, giving access to the global REIT brand, and all its tax benefits, for free.

In addition, a new diverse ownership rule for institutional investors will help attract more institutional money into the built environment and hopefully into residential property.

The permitted list of institutions includes sovereign wealth funds and

UK pension schemes, insurance companies and unit trusts (and each of their overseas equivalents).

The Government is clearly making great efforts to attract overseas institutional money into UK property, which means that it is a pity that charities, property investors such as overseas REITs, and financial institutions such as banks are not counted as institutions.

However, all the proposals remain open for consultation and it is to be hoped that the Government

‘This is certainly a step in the right direction’

The Liverpool city centre Marriott Hotel was the venue for the auction

Commercial Premises

INDUSTRIAL UNITS To Let. South L’pool 500 to 4000 sqft, monthly tenancy, competitive rents. From £50pw Tel: 0151 427 5051

WAREHOUSE on Picton Rd 4,000 sqft, 3 phase power with integral offices. To let or may sell. 07917 813370

UNITS TO LET 5,000−15,000 sqft. Initial Rent free period.

0151 486 0004

costly stock exchanges such as the Alternative Investment Market.

This makes the proposals good news for a whole range of stakeholders, from shareholders in existing REITs to those wishing to launch new REITs. However, further changes are still needed to encourage residential and social housing REITs. The draft legislation is certainly a step in the right direction, but there is a great deal more to be done to encourage the institutional and overseas investment that is badly needed for UK property and to help ease the housing crisis.

Kershexceeds£3mforfinal propertyauctionoftheyear

BUSINESS to BUSINESS

T J THOMAS 0151 708 6544 ERSKINE ST close to City centre Business units, 850sqft With int Office Space £550pcm www.tjthomas.co.uk

will change its mind to encourage further international investment.

The new proposals also contain a number of relaxations, which should be instrumental in encouraging the formation of new REITs. We can expect a number of North West property groups to actively consider the REIT regime now.

A major boost will be the three-year grace period for new REITs to meet the diverse ownership requirement, and, in addition to this, REITs will be allowed to be traded on less

by Tony McDonough

LDP DEPUTY BUSINESS EDITOR tony.mcdonough@liverpool.com

SUTTON KERSH generated sales of more than £3m at its final Liverpool property auction of 2011.

The event, at the city centre Marriott Hotel, saw 62 lots on offer, with 39 eventually being sold for a total of £3.25m.

Pre-auction activity was the highest it has been all year, with 13 properties selling for a total exceeding £1m, including The Old Barn Pub. A further 23 properties sold in the room, three post-auction, and more deals are in the pipeline.

A commercial investment in Allerton Road, in south Liverpool, currently let to national estate agency chain Sequence for a passing rent of £25,500, was guided at £300,000 and sold in the room for £332,000.

A former resource centre in Huyton Church Road, in Huyton, sold for £80,000 above its guide price, following competitive bidding from underbidders.

The vacant commercial redevelopment opportunity, which is suitable for a variety of uses subject to the necessary planning consents, was guided at £120,000-£130,000 and sold for £201,000.

A Grade II-listed building in Rodney Street, which is in need of modernisation and repair, was guided at £170,000-£225,000 and sold for £326,000.

This was the seventh auction held by Sutton Kersh this year.

Total receipts for the year amount to 342 properties and more than £20m in revenue.

James Kersh, director at Sutton Kersh, said: “We are extremely pleased with the results we have achieved this year.

“Amid a very tough economic climate, we have achieved a selling average that exceeds the national average and generated more than £20m-worth of sales.

“The atmosphere in the auction room at the final two sales was particularly encouraging, with a great buzz among investors and competitive bidding.

“While interest rates remain low, and there has been speculation that these historically low rates may remain for another three years, investors are capitalising on the many cheap deals currently available, and are recognising the opportunities the property market offers for long-term capital growth.”

■ BOTH Sutton Kersh and its Wirral rival, Smith and Sons, achieved success at the Estate Agency of the Year Awards, in London.

Kersh scooped a silver award for Best Small Estate Agency Chain in the north of England.

Smith and Sons landed a gold award for Best Franchise in the event at the capital’s Lancaster Hotel, which was sponsored by the property portal Zoopla.

Chris Johnson, from Smith and Sons, said: “This is a fantastic achievement for such a young brand and testimony of the importance of offering auctions alongside estate agency services.

“Our regional approach appeals to local buyers and sellers, with better prices being achieved as a result. The award is a credit to the entire team.”

Merepark in £26m deal for work at Lewis’s building MEREPARK Construction has secured the £26m contract to deliver the final phase of regeneration works at Liverpool’s Grade II-listed Lewis’s building, part of the £160m Central Village development.

The contract was awarded after a competitive tender and follows Merepark Construction’s successful completion of the first phase strip-out of the Lewis’s building, which took 34 weeks to complete and

involved the removal of 3,429 tonnes of debris and asbestos from all nine floors.

Work has now started on the Accor Adagio Hotel, retail leisure and office space as well as the new open-air link

which runs through the Lewis’s building and connects Renshaw Street to the heart of the development.

Alex Moore, director at Merepark, said: “To date, work has been contained

within the building, but it’s the final phase that will see changes to the building’s exterior and give the people of Liverpool a real sense of the transformation that’s under way.”

13

Wednesday, December 21, 2011

LDP business .co.uk Two new recruits joining Capital THE developer behind a £6m scheme in south Liverpool has recruited two executives to its development team.

Manchester based Adam Higgins’ Capital Properties and Tim Heatley’s Centric Property Group merged earlier this year to form Capital & Centric.

Now Louise Pearson has joined the company from Bruntwood as development manager and Neil Taylor has joined as a non-executive director.

Capital & Centric has started work on the 80,000 sq ft Estuary Banks at Estuary Commerce Park in Speke.

It has secured £2.7m of public funding towards the cost of the development which will be aimed at firms in the bio-pharmaceutical and knowledge industries.

Centric acquired the 4.6 acre site for £1m and the development is due to launch late summer next year.

Ms Pearson was formerly responsible for leasing across Bruntwood’s large and diverse retail and leisure portfolio in Manchester, Liverpool, Leeds and Birmingham.

Mr Taylor has been engaged as a non-executive director to continue to build on the company’s regeneration portfolio, having successfully secured ERDF funding for Estuary Banks.

Capital & Centric director Adam Higgins, said: “Louise and Neil consolidate valuable experience in both retail and regeneration and represent a fantastic addition to our team.”

LDP

MOBILE

LIVERPOOL’S INVESTMENT SPECIALISTS

IN ASSOCIATION WITH

Extra capacity on free bus service as demand booms

by Tony McDonough

LDP DEPUTY BUSINESS EDITOR tony.mcdonough@liverpool.com

A FREE bus service operated between Warrington town centre and Lingley Mere Business Park is to expand, due to growing demand.

As part of its sustainable travel strategy, Lingley Mere is to introduce a double-decker bus onto the service.

The vehicle will accommodate 76 passengers on each journey – 36 more than were previously catered for.

United Utilities and Muse Developments – joint venture partners at the Warrington-based business park – are

increasing capacity following a continued review of the service.

The route was launched in October, 2007, and offers seven pick-ups per day.

The 8.35am and 5.10pm services are the most popular among commuters, with 172 employees using the shuttle bus each day during peak times.

Robin Uttley, head of commercial property at United Utilities Property Services, said: “An increasing number of commuters are using more sustainable travel methods to get to and from Lingley Mere.

“The demand has risen so much in recent months that we decided to introduce the double-decker service.

“The success of the shuttle bus service demonstrates the growing move away from single-occupancy travel and strengthens our bid to lessen the park’s impact on the environment.”

Wes Erlam, senior development surveyor at Muse Developments, added: “It’s our goal to reduce single-occupancy car use to, from and around Lingley Mere Business Park and promote sustainable travel as much as possible.

“The enhanced bus service perfectly complements the introduction of an on-site bike pool, which allows employees at Lingley Mere to commute between 380,000 sq ft of office accom-

Text LDP to 67800

modation. These initiatives are just the beginning of far-reaching transport plans at Lingley Mere.

“In the future, we will be introducing many different schemes to promote sustainable transport use for all members of the business park.”

Located next to Junction 8 of the M62 in Warrington, Lingley Mere is an expanding business park that currently provides 380,000 sq ft of office accommodation within 100 acres of semi-manicured parkland.

The joint venture partnership works alongside joint agents, GVA and Edwards & Co, both of which are based in Manchester.

Car repair business launched at Birchwood Park

From left, Tom Capper and Neal Jackson, of Capper Jackson, who have set up shop at Birchwood Park

Council appoints city law firm FOR News, Sport and Business on your phone

location

LAW firm Hill Dickinson has been appointed by Liverpool City Council to provide legal services for the development of a new exhibition centre and hotel at the Echo Arena and BT Convention Centre.

The £38m project is anticipated to start on site in 2013, and the team at Hill Dickinson, which beat national competition in winning the tender, will provide the council with

planning and procurement advice, as well as support regarding the structure itself and advice on lease agreements and the building contract.

The team will be led by David Chinn, head of Hill Dickinson’s public sector and commercial business services group.

He will have overall responsibility for the delivery

of services to the council in respect of the project, with support from Peter Barlow, head of the public sector property team, Alan Pugh, a specialist construction lawyer and Mark Fitzgibbon, a specialist procurement lawyer in the commercial team.

Mr Chinn said: “This prestigious appointment is testament to the quality of Hill Dickinson’s offer.”

A VEHICLE repairs garage has opened its doors at MEPC Birchwood Park, in Warrington.

Established by Warrington man Neal Jackson, 25, and Tom Capper, 24, from Middlewich, Capper Jackson has taken 5,600 sq ft premises at Unit C, in Lovell House.

The pair hope to win the business of drivers among the 5,000 workers at the park.

Mr Jackson said: “Many people think of garages as small and a bit tatty.

“We wanted smart, spacious premises in well-kept surroundings to inspire customer confidence and present more like a dealer.

“At the same time, we needed something affordable in order to be able to provide our clients with a high-quality, affordable service.

Mr Capper added: “Starting up a business in a recession definitely has its risks, but we are determined to succeed and have every confidence that we are in the right place to do so.

MEPC Birchwood Park managing director, Jonathan Walsh, said: “Capper Jackson is a marvellous new service for the park.”

Keppie venture LIVERPOOL commercial agency Keppie Massie has launched a property finance brokerage and consultancy service.

The service will be headed by Martin Murphy, who has worked in property finance for nearly 20 years with financial heavyweights including Barclays, Nationwide, NM Rothschild and Anglo Irish, as well as working as an independent broker and consultant.

He will work with Keppie Massie’s clients to help them secure bespoke funding solutions for their projects.

14

Wednesday, December 21, 2011

LDP business .co.uk Aerospace & Defence

49214 41478 Edin Invst

325

19712 Avon Rbbr

310

+5

36118 24818 BAE Systems

27712

+778

73612 36834 Chemring

37714

+634

23612 16578 Cobham

16934

+34

Meggitt

39758

305

738

55712 Rolls-Royce

35014

+13

719 xd

Index 4105.64 ▲ 126.25 245

157

GKN

281

+138

32334 23834 HendSmllrCos 251

+4

32778 26112 Forgn & C

385

321

Law Debenture 33434

-14

252

202

Scot Am

202 xd

-1

533

40112 Witan

42734

-34

17558

+538

20418 161

BT Gp

5278

3114

Cble&WComm 3712 xd

-34

7678

1414

Cble&WWwide 1638 xd

+58

84

5712

KCOM

6534 xd

-114

Banks

+512

785

43914 Bco Santander 48012

+1612

73078

46312

HSBC

48378xd

3338

578

Ireland

678

6958

2178

Lloyds Banking 2358

49

1738

Ryl Scotland

+558 +12

318

39112 26312 Sainsbury

29278xd +434

439

388 xd +418

35614 Tesco

10034 36

Index 9986.83 ▲ 6.20

Thorntons

1182 940

AB Foods

1093xd

875

626

Carrs Mill

818

882

58812 Cranswick

42478 31834 Dairy Crest

305 xd +478

3518

1390 1112 Diageo

135112

-212

68912 511

235412 1979

218312

+712

28978 Britvic

SABMiller

38

314

18738 10712 Elementis

13438

+518

2119 1523 Johnsn Mat

1809xd

+48

Construction & Materials Index 3240.22 ▲ 69.46

Premier Foods Tate Lyle

681 xd

+3

2137 1793 Unilever

664

2095

41312 Mondi

340

16678 3i

88812 590 +1134

44214

+1158

Index 4354.39 ▲ 98.72 17114xd +414

Close Bros

57012 31158 ICAP

180

Costain

18212

-3

1226

1012

CRH

1174

+21

1124

1458 1097 Kier Group

1345

+16

1257 977

7634

Low Bonar

39

-112

1922 1183 Schroders

Marshalls

8612

-112

12412 8314

61012

+512

33614

+812

1076 75612 London Stk Ex 790 xd 86212

Provident

947

+912

Rathbone

990

-9

1274

+24

58112 36814 Drax Gp

523

44858 27938 Intl Power

32378

+278

1423 1159 SSE

1243

-2

-13

Electronic & Electrical

72412 39534 Cooksn Gp

48912

6

18

14

400

29934 Rexam

Cosalt

26614 16438 Smith DS 1429

86912

Smiths Gp

344

+512

19414

+278 +2012

902

705

43414 Domino Ptg

51312

+312

207

12778 Laird

14638

+238

2514

Ashley L

2012

256 xd

+414

31114 230

Brown (N) Gp

230 xd

-414

955

7434

5114

Debenhams

5634 xd

+14

25214

2378

938

Dixons Retail

934

224

Morgn Cru

1010 60012 Oxford Inst 376

241

Volex

-334

Equity Inv Instruments Index 5255.90 ▲ 14.29

16

235

7212

8258 xd +212

42538

26858

Home Retail Inchcape

-14

287

+2

39234 31014 Alliance

33358xd +258

1030 570

JD Sports

606 xd

-40

14012 109

Br Assets

11414xd

28718 217

Kingfisher

24514

+6

680

Candover Inv

470

40214

30134

M&S

30912xd

-112

617

12714 Mothercare

+12

2810 1868 Next

421

15734 11912 Dunedin Sml 228

11912

19412 DunedinIncGth 203

High

Low

96

6434

614

18

28712 1251 92 35714 3712

2986 1936 Signet Jwlrs

2758

-10

9312

50512

+1

1207 983

43334 WH Smith

Health Care Equip & Serv Index 3333.00 ▲ 66.62 521

+12

16134 2642xd

Smith Nph

+28

Adv Medical AEA Technology

23112 Albany Inv Tst 74012 AMEC 2712 Anglesey Mining 21458 Balfour Beatty 2414 Beale

612

51212 Compass Gp

132212

1063 Dee Valley

9314

Var 5Day

+1 4

38

138

Aga Rngmstr

70

+1

119

6712

Barratt Dev

8814

-34

2812

+1

2512 59512 1300 xd

+9

81

STV Group

81

3712

Trinity Mirror

4812

725

416

Utd Business

46712

150

95

UTV

9634

WPP

65012

-414 -14 +1912

+1112

Mining Index 19290.38 ▲ 338.52

+33 +2112

139

10312 Redrow

11234

+258

2150 1296 Fresnillo

1540xd

+26

4314

2834

53118 348

Glencore Intl

38814

+314

Industrial Engineering

1671 730

Kazakhmys

88612

+3512

Index 6903.20 ▲ 160.98

1983 941

Lonmin

968

+27

7555 4425 Randgold Res 6700

42212 280

Charter

938

Fenner

38812

67

+11

737

Molins

91

MS Intl

27212

+10

4212

Renold

2334

-14

2063 1649 Spirax Srco

1800

+37

2218 1375 Weir Gp

1991

+73

Industrial Transportation Index 2177.34 ▲ 4.34 BBA Aviation

17834

2912

30

+14

509

Lgl & Gen

10078

Prudential

62012

24434 172

248

Standard Life

+258 +1212 +318

200

+414

Media

71912 38914 Inmarsat

40434

+7

18234 155

17414xd

-14

Vodafone Gp

Nonlife Insurance

61812 BSkyB

72412

59412 34338 D Mail Tst

Low

558 JJB Sports 2512 Johnson Serv

37738xd

Price

up 0.93 Var 5Day

385

+338

+1058

606 xd

-40

-25

558 2678

-38 -18

- 78 -38

579

410 Nichols

525

-212

+20

14912

108 NWF

118

+1

-712

+1

5512

31 Park Gp

4834

+1 4

-12

+9

1257

977 Rathbone

990

-9

-9

-5

139

11234

+258

+234

3194 254312 AstraZeneca

1834

1754 787

Admiral Grp

14312 9958

833

509

197178 +3912 +2

1331

36314 BP

+17

444 xd +638

46934 25918 Cairn Energy

26258

+312

35814

+258

Premier Oil

2388 189012 Ryl D Shell B

2355xd

+22

1493 94512 Tullow Oil

1347

+48

Index 22011.36 ▲ 580.39 1251 74012 AMEC

High

14312 34

893 xd

218

454

+334 -43

445

31278 Gt Portland

31938xd +612

885

612

33114 195

Brit Land

1812 Speedy Hire

+414

2685

+112

12012 7712

Smiths News

7734

+14

34

Speedy Hire

19

1812

1127 715

Travis & P

2261 1404 Wolseley

786

+12

2009

+74

Tech Hardware & Equip Index 715.97 ▲ 18.93

+28

Land Secs

620 xd

SEGRO

20034

4014

Emblaze

36414 18078 Invensys 108

64

14714 59

614

576

13

BATM

14

+12

10234

4712

Psion

4778

+38

160

10534 Spirent Cms

10534

-34

+8

54

+218

204

+512

7712 xd +112

Logica

6018

+114

29134

+714

+2012

Tobacco Index 34276.55 ▼ 6.33 3021 228212 Br Am Tob

296412

2397 1784 Imperial Tob

2369

+934

1435 955

Intercontl Htls

1101

285

Intl Cons Airlns 145

+338

Ladbrokes

12434

+134

Marston’s

8914

+34

132

15514 114 11412

8458

361

21558 Mitchells&Btlrs 23078

7912

918

335

xd

-238

Punch Taverns 1034

-14

125

-14

25478 Restaurant Gp 29214

27238 200

Stagecoach

20434 1014

Thomas Cook 1412

+134

26614

-14

27178 13634 TUI Travel

15738

+334

1887 1409 Whitbread

1551xd

+22

34534 28158 Centrica

28458

132212 1063 Dee Valley

1300xd

64912 530

National Grid

607 xd

-12

73712 58412 Pennon Gp

696

+3

1600 1368 Severn

1467xd

+2

637

591 xd

+1

54312 Utd Utils

4958

1512

API Gp

44

+122

178

Armour Gp

334 -18

-38

29478 18214 Electrocmps

19438xd +634

5812

32

Man Brnze

32

844

665

84212

+712

12

738

Metalrax

814

291

21978 G4S

26314

+614

540

41212 Portmeirion P

452

305

Hyder Cons

35712xd -712

17112 55

+4

6214

-5 +112

2095

-1

-21

637

54312 Utd Utils

591 xd

+1

-9

-

94.24

-234.80

Gilt & FI

-

Gilt & Fixed

70.40

-250.30

Monthly Inc

-

2.80

250.30 5.68

122.40

4.54

HENDERSON HORIZON FUND European Smllr Cos A Sterling Bd Unit Tst

735.80

- 53.89 -

0.12

56.30 3.83

386.40

3.73

Capital

-273.60

284.60 1.20

European

-

629.70

0.70

Inc & Gwth

-

177.00

3.40

International

-

369.30

0.40

North Amer Acc

-

455.60

0.10

-

176.62

0.65

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 Low Funds

Price

Var

£761132 Cons 4% .................£9412

-738

41212 £10178

Redhall Gp

75

3234

Scapa Gp

4612

137

99

Swallowfield

11812

712

565

Young A

666 xd

£6712

£50 Cons 212% ............ £64916

Conversions

+34

£9312

£69 Cnv 312%.................£9012

+11932

Treasury

Currency

Tourist

Buy

Sell

£7012

£50916 Tr 212% ................. £662132

Australia

dollars

1.48

1.554

1.559

£113532 £104516 Tr 9% 12.............. £107932

Canada

dollars

1.53

1.612

1.614

£105

Denmark

krone

8.45

8.906

8.916

European Union

euro

1.14

1.198

1.199

yen

1.25

234.80 2.93

Consols

£ ABROAD

1793 Unilever

Balanced British

High

Country

Japan

-

HSBC INVESTMENT FUNDS (UK)

Sing ASEAN

-18

2137

602.95

INVESCO FUND MANAGERS

558

1

-572.80

HILL SAMUEL UNIT TST MGRS +134

2678

- 12

GUARDIAN

UK Equity Inc A

Utilities

Johnson Serv

+14

-

Index 4519.58 ▲ 12.02

2512

30

1.29

+134

36

2912 UK Coal

743.51 158.50

+19

628

5514

-

-

+13

476

893 xd -1212

4712

Euro Sel Opps Pratical Inv

-2048.06 2133.40

1330

Greene King

410

Capita

3378 Telme Gp

0.01

Property Bonds

1598 1190 Go-Ahead Gp 518

De La Rue

4712

604.20

-

1012

- 18

-

GARTMORE FUND MANAGERS

-

Eckoh

19

Sth East Asia

939.09

JJB Sports

+2

0.01

237.72

558

-114

1621.00

-892.13

658

10134

-

-225.84

1114

Var 5Day

Spec Sits

Pacific Acc

54

19612

4.46

International Acc

+812

34634 19134 Northgate

0.10

195.30

+418

118

520

125.00

32778

138

Interserve

-

MoneyBuilder Dividend-

Enterprise Inns

27

41258 30134 FirstGroup

Dawson Intl

Menzies J

Jpan Spec Sits

Index-Linked Acc

Crimson Tide

213

0.57

-112

118

425

205.00

+338

118

550

-

2934

214

31814

Japan

385

158

34114

0.32

easyJet

+114

Experian

-

1676.00

301

+378

667

563.20

-

474

430

936

-

American

+9

934

85512xd +1212

Amer Spec Sits

59512

21434

61112

FIDELITY INVESTMENT SERVS

51212 Compass Gp

21434 9938

78612

Yield

612

1970

85512 67612 Bunzl

Offer

Price Gross

-6

AIM

Ashtead Gp

Price

2130xd

Index 679.51 ▲ 6.58

40234 Berendsen

Bid

Terms

3153 1742 Carnival

Index 4163.44 ▲ 88.93 38

Cancel Fund

+14

Travel & Leisure

Support Services

AEA Tech

UNIT TRUSTS

-8

Index 4128.00 ▲ 44.80

2034 1389 Aggreko

40

Ultima

42314 ARM Hldgs

2712

+534

Kewill

23134 Sage

18

3412 Sportech

78

651

Software & Comp Servs

4634

2

6078

15334 10912 Rank Gp

24214xd

2954 2282 Daejan Hldgs

Price

RSA Insurance

-5

1878

Big Yellow Gp

▲ 0.08%

Low

9958

Vernalis

62912 444

568

535

310

-44

Index 1958.11 35214

+33

RSA Insurance 10134

156412 1144 BG

2905

Real Estate

Index 1299.50 ▲ 31.17

+1512 -58

Index 9865.06 ▼ 60.39

302

Oil Equipment & Services

Index 3897.74 ▲ 92.33

Pharma & Biotechnology

6312

Index 8321.64 ▲ 100.12 +718

+678

Index 712.30 ▲ 15.15

Index 4025.95 ▼ 3.12

Oil & Gas Producers

292

34212

30834 PZ Cussons

Mobile Telecoms

202818 164014 Marsh McL +134

+69

Life Insurance

31618 22912 Resolution

10312 Redrow

5514

+205

Index 3721.31 ▲ 83.28 47778 27514 Aviva

850

3096

+23

31212 169 2334

4712

271212 Rio Tinto UK Coal

404

+54

1838

53812

+17

50

1183

+678

1168

1458 112712 GlaxoSmthKln 1445xd

263112 1667 BHP Billiton

259

+238

Rentokil

12134

1600 1030 Burberry Gp

+34

1634 90012 Antofagasta

301 easyJet

26014 +1134 +1514

168 93

+1014

-8

570 JD Sports Fashion

-112

510

-234

474

36

59012 46114 Reed Elsevier

3176

1030

+28 -2112

Index 18671.20 ▲ 281.99

11034

- 18

54

Personal Goods

+30

19014 11034 McBride

39734 22558 Bodycote

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.

+314

3648 3015 Reckitt Benck

+1

17738

10478 5814

Those securities which have increased in value since the previous close are shown in bold type.

6418

232812

Taylor Wimpey 3614

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

1175

3437 213812 Anglo Amer

777

2781.41 ▲ 1.03%

ITV

70212xd +312

952

FT ALL-SHARE up 28.36

Pearson

77612 54012 Bellway

- 34

24612 893 xd

High

5158

84612 578

6212

+178 +3

+1112

Index 6203.01 ▲ 1.32

DAILY POST REGIONAL INDEX 1133.53 Price

58712

Household Goods

12334 8934

301

F

Dec 20, 2011

558

+1

45934 26912 Halfords

T

NATIONAL EXPRESS 194

24034 156

Index 1477.89 ▲ 16.35

W

FTSE-Rebased

General Retailers

Index 2581.58 ▲ 33.36

T

214

116 +1418

M

Share price (pence)

1119 63612 IMI

Index 2614.44 ▲ 52.03

Index 7889.14 ▼ 38.64

Dec 12 - Dec 17

234

+13

General Industrials

Electricity

35718

Dec 5 - Dec 9

274

742

5409.15 ▲ 0.20%

30834 14412 Prem Farnell

KEY

SPOTLIGHT

-1

General Financial

265

39

Nov 28 - Dec 2

5419.60 ▲ 1.02%

20 DAY MOVING AVERAGE up 10.64

20-Day Moving Average

5230

+558 -14

Index 4764.17 ▲ 124.95 +6

-7

558

Index 6488.94 ▲ 111.11 1753

+2512

32678

Forestry & Paper

2081 1456 Croda

-7

723 xd

Chemicals

35714 21458 Balfour Beatty 26014

5440

Jun 20, 2011

Index 5480.77 ▼ 3.20

1220

483

+112

Food Producers

+14 +2212

Beverages

1395 1031 Barr (AG)

5545

254

32278 26234 Morrison W

+18

1958 1374

+214

Index 4539.16 ▲ 43.93

17138

1769 116912 Stan Chart

18914

FT-SE 100 INDEX up 54.61

FTSE-100

Food & Drug Retailers

Index 3256.36 ▲ 49.37 33312 13878 Barclays

5650

5335

Index 2172.63 ▲ 20.27

Closing Indices

FTSE 100 INDEX

Fixed Line Telecoms

+58

Automobiles & Parts

EdinUSTrkrTst

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

+258 +5

+4

16414

19058 13258 Senior

46414 625

66034 546

Index 3241.98 ▲ 52.03

LondonStockMarketatClose

115.30

121.910

121.920

-132

£118516 £113716 Tr 8% 13.............. £113716

-332

£11278

£109532 Tr 5% 14.............. £112516 £100332

£101132

-132

£311116 Tr 212% IL 16 .........£34012

-2532

2.035

2.040

£10712

8.80

9.246

9.247

£34234

4.70

5.333

5.341

10.743

10.753

New Zealand

dollars

Norway

krone

Poland

zlotys

Sweden

krona

10.26

1.90

Switzerland

francs

1.39

1.458

1.459

Turkey

new lira

2.76

2.954

2.964

United States

dollars

1.48

1.567

1.567

+258

£1003132 Tr 5% 12............. £1003132

Tr

734%

12-15......

-18

£14112 £1322132 Tr 834% 17 ............... £141

- 14

£1521732 £1332732 Tr 8% 21.............. £152116

-932

War

£991532

£601532 War Ln 312%.............. £91

-6116

Last night the pound was worth: $1.5673 (up 0.0142)............. 1.1988 euros (up 0.0059)..............115.30 yen (up 0.41)..............Its trade weighted index was 81.50 (up 0.40) Metals in $ per troy ounce: Gold 1613.50 (up 15.50) .......................... Silver 29.28 (up 0.50).......................... Platinum 1425 (up 6).......................... UK base lending rate 0.5%

15

Wednesday, December 21, 2011

LDP business .co.uk London market A SUCCESSFUL Spanish bond auction and strong German economic data eased fears over the eurozone crisis and drove world markets higher.

Sentiment over the state of Europe’s finances was boosted after German business and consumer confidence rose unexpectedly in December and the Spanish government saw its borrowing costs fall in a bond auction.

This helped the FTSE 100 Index rise 54.6 points to 5419.6 in a late rally despite pharmaceutical stocks acting as a drag after AstraZeneca revealed a twin setback to its pipeline of new drugs.

The drugs giant topped the fallers board with a drop of 44p to 2905p after it said that olaparib will not progress for further development in the treatment of ovarian cancer, while a potential anti-depressant drug is also unlikely to make headway.

The drag from pharmaceutical stocks was partly the reason why the FTSE 100 Index failed to keep pace with gains elsewhere.

The Dax in Frankfurt was ahead 3% and the CAC-40 in Paris was up 2.5%.

The pound was up against the dollar and the euro at 1.57 and 1.20 respectively after it was boosted by stronger consumer confidence figures from Nationwide and an improvement in retail sales.

The biggest Footsie risers were Aggreko up 122p at 1970p, ITV ahead 3.2p at 64.2p, Kazakhmys up 35.5p at 886.5p, and Admiral ahead 33p at 833p. The biggest Footsie fallers were AstraZeneca down 44p at 2905p and Essar Energy off 2.5p at 178p, Associated British Foods down 7p at 1093p and GlaxoSmithKline off 5p at 1445p.

IN ASSOCIATION WITH

LIVERPOOL’S INVESTMENT SPECIALISTS

market comment

Euro’sprice reflects investors’ confidence incurrency

BAD as things seem for the eurozone, the value of the euro does not suggest investors are betting Europe’s currency bloc will fall apart.

Even in the wake of its recent slide, the euro at $1.30 is far from levels that would reflect fear of a break-up.

A look at the euro’s history suggests the currency is not yet in a danger zone.

Since its inception at $1.17 in 1999, chairman and chief investment officer the euro has traded between $0.82 and of FX Concepts, said the euro’s resi$1.60. lience of recent months is due to The current price around $1.30 is deleveraging by eurozone banks as well above the mid point of its historic they sell foreign assets and repatriate range. The average level is about $1.20. the funds back into euros. He That does not mean the predicted a year ago that the euro’s current rate is a euro would fall to parity resounding vote of confidence. against the dollar, and is now It's just that many believe the more convinced it will hapcosts of a split would be so pen. What complicates valuhigh that Europe’s leaders ing the euro, even in a will pay any price to prevent break-up, is that some nations it – even the European Central would have a stronger curEmail us with Bank (ECB), which so far has rency on their own. your views at been reluctant to support Mr Taylor said: “The euro letters@ troubled euro debt markets. dailypost.co.uk, is a schizophrenic currency. If Jens Nordvig, a currency or write to us it were northern Europe, the PO Box 48, Old analyst at Nomura Holdings, euro would be worth $1.80 to Hall Street, said the ECB would eventu$2 against the dollar. If it were Liverpool ally take the decision to southern Europe, it’s worth 80 L69 3EB provide more support, “probcents to $1.” ably towards the end of the One thing that would hurt first quarter.” the euro, at least in the short term, is a Investors see the euro heading messy default and eurozone exit by lower. Deutsche Bank sees it at $1.25 by Greece. the first half of 2012 and Nomura’s On its own, a Greek default is probforecast is for $1.20 by the second ably manageable given Greece quarter. accounts for only 2.2% of eurozone Recent data shows short positions GDP and 4% of the public debt, said among futures traders aren’t far from Willem Buiter, Citigroup chief economrecord highs. ist and former Bank of England poliHedge fund manager John Taylor, cymaker.

What do you think?

Italian Prime Minister Mario Monti is seen as a key figure in the fight to keep the euro currency together “However, a disorderly sovereign default and euro area exit by Italy would bring down much of the European banking sector,” said Mr Buiter.

Indeed, many see Italy key to keeping the current crisis from turning into chaos, and thus holding the euro together.

The flashpoint here could be Italy’s bond market. Bond investors generally have appeared more worried about the eurozone’s survival. Bid-ask spreads in the Italian bond market widened out in November as credit risk rose, a sign

that regular buyers were leaving that market.

Rising government bond yields for Greece, Portugal and Ireland forced them to seek international bailouts.

The ECB has so far resisted calls to provide massive support for the Italian bond market, even though yields have risen above 7%, a level many see as unsustainable.

As the eurozone’s third largest economy, some say it would be unthinkable for Italy to sink. A meltdown in its bond market could force the ECB to buy aggressively to save the eurozone.

For all the latest local and national business news online, log on to www.ldpbusiness.co.uk

business diary

Friday, January 6 A SEVEN-MODULE online ECDL beginners course in computer skills starts at Liverpool Chamber of Commerce explaining key concepts in IT, organising files and folders, word processing, spreadsheet and database applications, pro-

ducing and delivering a professional presentation and using the internet and email.

The course fee is £150, but Chamber members receive a 10% discount.

Call the Chamber for further details on 0151 227 1234.

Thursday, January 12 SEFTON Chamber of

Commerce is staging its latest monthly networking event, supported by Kinetics Personal Training, from 12 noon to 2pm. The venue is still to be confirmed – contact 01704 531710 for more.

Friday, January 13 A “60 REALLY Useful Minutes” session on improving the value of your business is being staged at Liverpool

Chamber of Commerce, hosted by Brian McCann, from Vanguard Corporate Finance, who believes the value of a business depends very much on who the valuation is being prepared for and will highlight some practical tips.

The 9-10am seminar is free to members and £10 to non-members. Book online at www.liverpool

chamber.org.uk Saturday, January 14 BUDDING women entrepreneurs can get their New Year’s resolutions off to a flying start at a workshop in Liverpool in January.

Reflect & Renew: Time For You takes place on January 14 at Liverpool Hope University with trained coaches from Appreciation Works, a social enterprise set up

by Liverpool business specialists Suzanne Quinney and Helen Bush.

The workshop will study participants’ strengths and how they can fulfil their business and lifestyle aspirations.

Ms Quinney said: “Take some time out and give yourself a chance to reflect, renew, relax and re-vision for the New

Year. Our workshop will use a mixture of coaching techniques.”

Cost is £97. For more information contact Suzanne Quinney on 0151 427 1146 or 07940 726067. To book a place (limited to 16) email suzanne@appreciatingpeople.co.uk ■ Send your diary events to neil.hodgson@liverpool.com

16

Wednesday, December 21, 2011

LDP business .co.uk trading gossip ■

THERE are, it seems, pros and cons to naming a business after yourself.

Karl Vella, today’s profile interviewee, is proud that his unusual family name is today attached to one of Skelmersdale’s most successful firms.

But – just as some people don’t know that Mars bars are named after a person called Mars and not the planet – it seems some people don’t realise that Karl Vella, below, is a real person.

“I go out and people say ‘Karl Vella does a good job,’” he said. “They don’t even know it’s me.

“Sometimes I wish the business wasn’t called ‘Karl Vella’. There’s a lot of pressure. But I didn’t know then that the business was going to be this size.

“Some people in some

IN ASSOCIATION WITH

LIVERPOOL’S INVESTMENT SPECIALISTS

the back page

Coffee is essential fuel as big to-do list looms

working day

Phil Bird, 46, is managing director of The PC Support Group, which provides IT support to small businesses and home users throughout the UK. It is based in Liverpool and has nine franchises 7am: Weekdays always start early for me. The run-up to the end of year is fast approaching so early starts are a daily occurrence. I have a young son, Jackson, who is seven years old and wakes up early so I try to spend some time with him.

areas don’t know Karl Vella is a real person.

“I ring people up and say ‘It’s Karl Vella and we’ve got your car’.

“They say ‘what’s your name?’ I say Karl Vella, and they say ‘yes, but what’s your name?’”

■

LIVING ROOM founder Tim Bacon is pleased this week after securing a £4m credit facility for his Living Ventures restaurant chain.

Despite being born in London and brought up in Tasmania we can claim him as one of our own due to the fact that he was conceived in Birkenhead.

LDP CREATIVE For the latest news from the creative sector

www. ldpcreative. co.uk

8am: I make my much-needed morning coffee, check my iPhone and scan through my emails. Once done I jump in my car and make my way to our head office in Speke.

8.45am: As soon as I get into the office it is all systems go, quite literally as I check our dashboard monitors which record all our clients’ needs and inform me of any recurring customer problems.

It also monitors the average time any customer request is handled in.

9.15am:: Time to reply to my emails and box off any queries from any of our nine regional directors across the UK and our customers. I like to be actively involved and offer support and advice across the board.

10am: There is always a massive to-do list on my desk, so I take a few minutes to re-jig and prioritise. All my days are so diverse so I have to decide what jumps to the top of the list based on importance at the time – we have to be reactive to clients’ needs and proactive for business development.

10.30am: My newest member of staff, Joe Woodford, comes to discuss our marketing strategy. Even though we are an IT company we are constantly discussing ways in which we can gain the greatest impact for our franchises and raise their profile on a local and regional scale. We also use this time to discuss how we can improve on existing systems.

We put the final touches to our client-facing newsletter – this keeps customers informed of the businesses progress as well as any relevant new systems that may be of benefit to them.

We work hard on this and our social media to make sure that we are not just updating for the sake of it but are offering relevant, useful, interesting

Phil Bird says finding the right calibre of staff for the company is a difficult task content which will benefit them.

11.30am: The team re-group and discuss the action plan for the rest of the day over of a cup of coffee, to ensure everyone involved is up-to-date on any issues and are confident dealing with their current queries. Our days are long and with such a varied client base it’s important to make sure we are all on the same page and that we meet our deadlines.

11.45am: Into another meeting with our web team to discuss our website re-vamp, which will see it improved and easier to navigate. We make sure that our website is updated regularly so that we have the freshest content.

We believe in prevention rather than cure so we are installing a new system which will allow us to recognise certain alerts and can pre-empt any problems clients may have which we can then fix before they are even aware of them.

1pm: Grab a quick sandwich and eat at my desk whilst checking my emails – I never get the chance to have a proper lunch break but I don’t mind as it’s usually because the day is going so fast that I barely get the chance to think about anything else.

1.15pm: I do another quick dashboard check and have a short catch-up meeting with Kev. 1.45pm: Today I have an afternoon of interviews; we are recruiting due to expansion and are adding to our engineering team.

Although there are lots of people applying, we’re struggling to find the right calibre of person. We need high-quality professional staff; just having a degree is not enough.

4pm: The directors have a meeting to discuss the business forecast for next year and discuss how this year has been.

4.30pm: I make the last phone call of the day and speak to a prospective franchisee who is enquiring about being part of The PC Support Group.

5.30pm: After another hectic day I spend some time mopping up the last emails before leaving the office for the day.

7pm: Time to call it a day and start my commute home, the drive gives me time to process the day’s activities and, as long as I am not inundated with calls on the journey, I crank my iPod up allowing me to relax and unwind on the 40-minute journey.

8pm: As soon as I walk through the door I go straight to play with Jackson before reading him his bedtime story. I don’t get to spend much time with him in the week so this is a precious chance to catch up and find out about his day which is evidently much busier than mine.