Franklin buys Sandy Nairn’s Edinburgh Partners

UPDATE 3 — Global asset management giant Franklin Resources, Inc, operating as Franklin Templeton Investments, has agreed to acquire Sandy Nairn’s independent fund management firm Edinburgh…



Swiss bank Julius Baer appoints Edinburgh boss

Swiss private bank Julius Baer International announced the appointment of Calum Brewster as its Edinburgh-based Managing Director, Head of UK Regional Offices. Brewster’s appointment follows…


Abu Dhabi investor buys $120m Caledonian Hotel

Twenty14 Holdings (T14H), the hospitality investment arm of Abu Dhabi-based Lulu Group International, has completed the $120 million acquisition of the Waldorf Astoria Edinburgh – The…







Xmas revenue up 32% at fashion firm Quiz

Glasgow-based fashion firm Quiz said its Christmas trading was in line with expectations with a 31.9% increase in group revenue for the seven-week period from November 19,…




IndigoVision confirms Simoes as new CEO

Edinburgh-based video security company IndigoVision said Pedro Simoes has been confirmed as its chief executive officer and has joined the board as an executive director with…








Standard Life’s 1825 buys Cumberland Place

1825, Standard life’s financial planning business, has agreed to acquire Cumberland Place Financial Management Ltd which has assets under advice of £400 million. The acquisition…


RBS sells $270m of Lombard loans

Royal Bank of Scotland (RBS) has sold offshore loans held by its Lombard Finance subsidiary to specialist lenders Investec and Shawbrook Bank, according to a…


Edinburgh’s Bachmann & Welser raises $1.25bn

Edinburgh-based Bachmann & Welser Capital Limited, a provider of trade finance and project finance, announced the completion of an $750 million equity capital raise and additional commitments…








Investment syndicate Archangels in record year

Archangels, the Edinburgh-based business angel investment syndicate, has celebrated its 25th anniversary in 2017 by leading a record level of investment in Scottish early stage…


ScotRail to blame ‘for only one-third of delays’

Edinburgh-based think tank Reform Scotland has released a briefing paper which says constant discussion about nationalising ScotRail “is a meaningless distraction.” The report called “On The Right…






RBS pays $125m in California MBS settlement

California Attorney General Xavier Becerra announced a $125 million settlement with the Royal Bank of Scotland (RBS) over misrepresentations about residential mortgage-backed securities sold to California’s…






Ex-PwC partner Cartwright is new ICAS chief

Bruce Cartwright, former PwC partner and head of corporate restructuring, Scotland, has been appointed as the new chief executive of Edinburgh-based ICAS, the global professional…





MacBrayne revenue rises to £195m

Passenger numbers and revenue increased over the past year at ferry operator David MacBrayne Ltd (DML), according to the company’s annual report and accounts. DML…












Wood shares fall 7% after trading update

Shares of Aberdeen-based oil and engineering giant Wood plc — which recently completed the £2.2 billion acquisition of rival firm Amec Foster Wheeler (AFW) — fell 7%…





70,000 affordable homes built since 2007

The Scottish Government said more than 70,000 affordable homes have been delivered since 2007 — a total of 48,813 homes for social rent, including 8,819…



Scots Govt. budget planning ‘short-sighted’ – FAI

The Scottish Government’s budget planning “remains remarkably short-sighted,” according to the latest Economic Commentary from the Fraser of Allander Institute (FAI). David Eiser, Head of Fiscal Analysis…


Glasgow PE firm Maven exits SPS with 3x return

Glasgow-based private equity firm Maven Capital Partners announced its exit from promotional merchandise company SPS (EU) Holdings while “delivering a 3x return on funds invested…




£65m Scots manufacturing institute launched

The new £65 million National Manufacturing Institute for Scotland (NMIS) is to be created at Inchinnan in Renfrewshire, next to Glasgow International Airport. Strathclyde University…








Aberdeen Standard makes China breakthrough

Scottish asset management giant Aberdeen Standard Investments announced that its wholly foreign-owned enterprise (WFOE), Aberdeen Asset Management (Shanghai), secured registration as a private securities investment fund manager…


Graham’s Dairy turnover up 20% to £100m

Bridge of Allan-based Graham’s The Family Dairy said its turnover rose 20% to £100.5 million in the year to March, 2017. Graham’s said it has an exciting…




Wood Group wins GlaxoSmithKline contract

Aberdeen-based engineering giant Wood Group said it won a multi-million dollar contract supporting drug major GlaxoSmithKline in Germany. Wood will provide GSK Vaccines GmbH (GSK),…


Aberdeen Council keeps rating after £370m bond

Aberdeen City Council said it has been recognised for “a strong institutional framework” and “strong track record of operating performance” by credit rating agency Moody’s,…




MPs call for investigation into SSE-Npower merger

The UK’s Business, Energy and Industrial Strategy (BEIS) Committee has written to the Competition and Markets Authority (CMA) calling for an investigation into the proposed merger between the…



Rockwell acquires Edinburgh’s Odos Imaging

Milwaukee-based Rockwell Automation, Inc. has acquired Craigmillar, Edinburgh-based Odos Imaging, a technology company that provides three-dimensional, time-of-flight sensing systems for industrial imaging applications. “We are…



Strong quarter for Scots engineering sector

Trade group Scottish Engineering said in its latest Quarterly Review that Scotland’s engineering sector continues to report increased orders and output despite the political uncertainty…






Stagecoach shares up 13% amid UK rail changes

Shares of Perth-based train and bus giant Stagecoach rose 13% after the UK’s Department for Transport (DfT) announced a number of changes to franchises currently operated…





Apex Hotels revenue up 6% to £65m

Edinburgh-based Apex Hotels Limited reported another consecutive year of growth in the 12 months to April 30 with a 6% rise in turnover from £61.3 million to…


EnerMech forecasts 2017 revenue of £360m

Aberdeen-based mechanical engineering group EnerMech said its 2016 revenues rose by almost £10 million to £263.7 million on the previous year — and forecast that 2017…




Menzies to unveil plans to split in two by March

Edinburgh-based aviation logistics and news distribution company John Menzies said in a trading update that it expects “to be able to make a firm announcement” on splitting the…



























Aggreko hires Atkins’ Heath Drewett as CFO

Glasgow-based Aggreko, the world’s largest temporary power firm, announced the appointment of Heath Drewett as its chief financial officer (CFO). Drewett was the group finance…



Scots salmon exports up 56% to £483m

The Scottish Salmon Producers Organisation said latest figures from HM Revenue and Customs show continued record growth for Scottish salmon exports so far in 2017….







South-west Edinburgh family home prices up 20%

Three bedroom houses in the south-west suburbs of Edinburgh experienced some of the highest increases in average selling prices between August and October of this year amid a…







Johnston Press investor in formal board move

Johnston Press announced it received a letter from major shareholder Custos Group AS requisitioning a general meeting of the company’s shareholders. Custos is run by Norwegian…




McColl, Betts among new SCDI appointments

The Scottish Council for Development and Industry announced a number of key appointments to its board — including Scotch Whisky Association CEO Karen Betts and Clyde Blowers…


Scots salmon farming employment up 13%

The Scottish Salmon Producers Organisation (SSPO) said in its latest Scottish Salmon Economic Report that employment in the Scottish salmon farming industry rose 13% to 2,472…



£6bn Baillie Gifford fund bets on healthcare, tech

The fund managers who run Edinburgh-based Baillie Gifford’s flagship £6 billion fund, the Scottish Mortgage Investment Trust plc, are making new investments in cutting-edge healthcare companies that…












30-minute commute saves £86k on a home

House prices in places just 30 minutes rail travel time from Edinburgh — including Dunbar, Falkirk and Livingston — are, on average, 36% lower than…








Scots Business Taskforce membership announced

The UK Government’s Scottish Secretary David Mundell confirmed in the House of Commons that the new Scottish Business Taskforce of economic and business leaders will meet…











Plexus sells Jack-Up business for up to £42.5m

Aberdeen-based oil and gas engineering services company Plexus Holdings announced the sale of its wellhead exploration equipment and services business for Jack-Up applications to FMC…


Standard Life’s 1825 acquires Fraser Heath

Standard Life’s financial planning business 1825 said it agreed to acquire Bristol-based Fraser Heath Financial Management, which has assets under advice of £352 million. After…






Virgin Money mortgage balances hit £33bn

Shares of Newcastle and Edinburgh-based challenger bank Virgin Money rose about 5% after it gave investors a positive trading update and outlook for rest of…


Omega Diagnostics shares rise on US supply deal

Shares of Alva-based Omega Diagnostics Group rose about 6% after it said it signed a supply agreement with an unnamed US-based company offering laboratory testing services “specialising…


Elgin’s Springfield debuts on market at £87m

Elgin-based housebuilder Springfield Properties said its shares started trading on London’s secondary AIM market. Springfield said its IPO raised £25 million before costs and expenses…



DC Thomson takes investment research firm stake

Dundee-based media and publishing giant DC Thomson said it will partner with Edinburgh-based Electronic Research Interchange (ERIC) “to develop its bespoke investment research offering for…


Hermes, BAM develop huge Edinburgh office block

BAM Properties and Hermes Investment Management announced they will develop what is currently Edinburgh’s largest speculative office development. Capital Square, designed by architects Hurd Rolland,…


Scotland to host Arctic Circle Forum

First Minister Nicola Sturgeon has revealed she will host Scotland’s first-ever Arctic Circle Forum in Edinburgh in November. She made the announcement in Reykjavik, Iceland, at the…





Goals Soccer Centres CEO Jones to leave

East Kilbride-based Goals Soccer Centres said its CEO Mark Jones “notified the board of his intention to resign from the board and the company as he has…



Wood wins multi-million dollar Total contract

Aberdeen-based energy and engineering services giant Wood Group said it was awarded a new multi-million dollar contract by Total to support its Lindsey Oil Refinery located…



Sturgeon promises state-owned energy firm

First Minister Nicola Sturgeon told the SNP conference that Scotland will set up a publicly-owned, not-for-profit energy company by 2021 to increase competition and choice…




Liberty buys Livingston’s Shand Cycles UK

Sanjeev Gupta’s metals and industrials business Liberty House Group said it took another step towards its ambition of rejuvenating bicycle manufacturing in the UK by…




Wood Group completes £2.2bn deal for Amec

Aberdeen-based oil and gas services company Wood Group said it completed the roughly £2.2 billion acquisition of rival firm Amec Foster Wheeler to create one of the…




Shortbread crisis as butter prices double

Scottish shortbread makers, confectioners and bakeries are suffering because the price of wholesale butter has doubled since the start of the year — with wholesale…




Tesco Bank customer deposits up to £8.9bn

Edinburgh-based Tesco Bank said its profit before tax rose 143.9% to £112.2 million in the six months ended August 31, “reflecting the impact of payment protection…





Paterson is new Macfarlane chairman

Glasgow-based packaging firm Macfarlane Group said it appointed Stuart Paterson as its new chairman effective September 29, 2017. Paterson, who succeeds Graeme Bissett, is scheduled to…











Havelock CEO Ritchie departs amid losses

Kirkcaldy-based shopfitter and interiors firm Havelock Europa said CEO David Ritchie resigned with immediate effect “to pursue other business interests” as it announced it made…




Funding for new exploration in North Sea

New exploration in the North Sea will be supported by a £5 million UK government fund for 2018-19, Chancellor Philip Hammond announced during a visit…


ESM £25m fund seeks Scots tech ventures

ESM Investments is to launch a specialist £25 million fund in 2018 to fuel further growth in Scots-based technology. The company aims to attract high…










Edin University Press revenue +12% to £3.22m

The University of Edinburgh’s publishing subsidiary reported a record year of sales in its latest financial results. The growth at Edinburgh University Press was driven…



Arnold Clark turnover up 9.2% to record £3.66bn

Glasgow-based Arnold Clark Automobiles, Scotland’s biggest privately-owned company, said its 2016 turnover rose 9.2% to a record £3.66 billion and operating profit rose £14.1 million to…


KPMG cleared over HBOS audit before collapse

The UK’s Financial Reporting Council (FRC) — which regulates auditors, accountants and actuaries — announced the closure of its investigation into the conduct of KPMG’s audit…




Macfarlane to buy Greenwoods for up to £16.75m

Glasgow-based packaging firm Macfarlane Group said it conditionally agreed to acquire the packaging business and selected assets of Nottingham-based Greenwoods Stock Boxes Limited and 100% of its…



UK asset management up 20% to £6.9 trillion

The UK Investment Association’s first annual asset management survey following the UK’s decision to leave the EU reveals assets under management in the UK increased…



FCA rejects call to publish full RBS report

The UK’s Financial Conduct Authority (FCA) has rejected calls to publish a report into allegations that Royal Bank of Scotland’s Global Restructuring Group (GRG) bankrupted…







Scots oil and gas sales up 15.2% to £17.5bn

The approximate sales value of oil and gas produced in Scotland for the financial year 2016-17 rose 15.2% to £17.5 billion, according to new figures from Scotland’s…



CMA approves Wood Group-Amec Foster deal

The UK’s Competition and Markets Authority (CMA) said it has accepted proposals to resolve competition concerns regarding the £2.2 billion purchase of Amec Foster Wheeler by Aberdeen-based…


Scots farm debt hits record £2.32bn

New statistics from Scotland’s Chief Statistician show the total outstanding bank debt of Scottish farms increased 5% over the past year to £2.32 billion — the highest since records…


Scots private sector output continues to grow

August’s purchasing managers’ index (PMI) survey from Bank of Scotland indicated a moderate increase in Scottish private sector output. Growth softened following the 33-month high recorded…



Scots housebuilder Springfield plans IPO

Scottish housebuilder Springfield Properties announced its intention to seek admission of its ordinary shares to trading on London’s secondary AIM market. Elgin-based Springfield hopes to raise up…


Scots job market improved sharply in August

The latest IHS Markit report on jobs data for Scotland signalled a further improvement in labour market conditions in August. Recruitment consultancies reported sharp increases…



FanDuel, DraftKings to pay $2.6m to resolve probe

Massachusetts Attorney General Maura Healey said Edinburgh-headquartered FanDuel and Boston-based DraftKings, the two largest daily fantasy sports sites, will pay a total of $2.6 million after…


ICAS chief Colella to be Moore Stephens CEO

Anton Colella, CEO of the chartered accountants’ professional body ICAS, is to leave the organisation to take up a new role as global CEO of international accountancy network…




£60m fund for new tech, low carbon innovation

The Scottish Government said £60 million will be made available to accelerate innovation in new technologies, including low carbon and digital projects by 2020. The Innovation…


















Menzies Distribution buys all-electric Gnewt Cargo

Edinburgh-based Menzies Distribution said it acquired London-based Gnewt Cargo, the all-electric delivery firm, for an undisclosed sum. Gnewt, founded in 2008, provides final-mile delivery services…





Scots product sales up 33% at Co-op

Figures released by the Co-op show that sales of Scottish products across its 350 stores are up 33% year-on-year. The biggest increase has been seen on…










New film and TV school to open in Scotland

First Minister Nicola Sturgeon announced a Scottish Government investment to support the National Film and Television School’s (NFTS) plans to set up a base in…



Macfarlane first-half sales up 10% to £89.8m

Glasgow-based packaging firm Macfarlane Group said its first-half sales rose 10% to £89.8 million and profit before tax soared 27% to £2.5 million as recent acquisitions boosted…









£220m Edinburgh Airport plan takes off

Work is under way on a three-storey extension to Edinburgh Airport’s terminal building — the start of a current £80 million investment plan to help…






Big changes as Macquarie seals Green Bank deal

Australia’s Macquarie Group said on Friday its consortium completed the acquisition of Edinburgh-based UK Green Investment Bank from the UK Government for £2.3 billion. Macquarie said…



Scots employment hits record high

Scotland’s employment rate increased by 1.1 percentage points to a record high of 75.2% over the April to June quarter — meaning 30,000 more people…



Green light for Scotland’s largest solar farm

Moray Council has granted planning permission for what will be Scotland’s largest solar farm. Councillors approved Elgin Energy’s development of the 47-hectare Speyslaw site near Urquhart,…




Menzies shares up amid positive outlook

Shares of Edinburgh-based aviation logistics and news distribution company John Menzies rose more than 3% on Tuesday morning after it said turnover increased 21% to £1.2 billion…





John Menzies and DX terminate merger plan

Edinburgh-based John Menzies said on Monday it terminated the merger talks between its distribution business and courier firm DX Group. “Notwithstanding the strong strategic and commercial benefits…



Scots output growth surges to 33-month high

Scottish private sector output growth surged to a 33-month high in the third quarter of 2017, according to the latest Bank of Scotland PMI (purchasing managers’ index)…





Assets up to £151bn at Edinburgh’s Aegon UK

Edinburgh-based pensions, investment and insurance firm Aegon UK said on Thursday its “platform” assets reached £107 billion and total assets under administration hit £151 billion…















Bridgepoint confirms £655m deal for Miller Homes

Private equity firm Bridgepoint confirmed it will buy Edinburgh-based Miller Homes in a transaction totalling £655 million from funds managed by GSO Capital Partners, a division of Blackstone….










Stan Life votes against PwC as Vodafone auditor

Edinburgh-based Standard Life Investments said it voted its clients’ 465 million shares in Vodafone against Vodafone’s resolution to reappoint PricewaterhouseCoopers (PwC) as Vodafone’s auditors and against…











BrewDog looking to expand to Australia

Aberdeenshire-based craft beer brewer BrewDog has announced plans to build a brewery in Australia and said it is looking for “a kick-ass location” for its…
















Weir shares soar on North American recovery

Shares of Glasgow-based engineering giant Weir Group rose more than 7% after it gave an update to its 2017 outlook that “reflects accelerated recovery in North American oil…



More upheaval at Menzies merger target DX

Courier firm DX Group, currently in the process of merging with the distribution business of Edinburgh-based John Menzies, said it will split its business into two divisions —…



Head of Student Loans Company ‘suspended’

Steve Lamey, the chief executive of the UK’s Glasgow-based Student Loans Company (SLC), has been suspended pending an investigation, according to reports. No clear reason was…


FanDuel and DraftKings terminate merger

Edinburgh-headquartered FanDuel and Boston-based DraftKings, the two largest daily fantasy sports sites, have terminated their merger agreement. The decision follows the move by the US Federal Trade…







Scots unemployment at record low of 3.8%

Scotland’s unemployment rate fell to a record low of 3.8% over the last quarter, down 0.7 percentage points, according to labour market statistics for March to…





Cairn Energy finds oil offshore Senegal

Edinburgh-based oil and gas company Cairn Energy announced the results of the FAN South-1 well in the South Fan prospect offshore Senegal. “The well encountered…


Craneware expects revenue up 16% to $57.8m

Edinburgh-based Craneware, a software firm that specializes in the US healthcare market, said in a trading update for the year ended June 30, 2017, that it expects to…



Cochrane becomes interim CEO of Carillion

Construction and outsourcing firm Carillion said on Monday it appointed Keith Cochrane — former chief executive of Stagecoach and Weir Group — as its interim…






























Computershare creates 300 jobs in Edinburgh

Edinburgh is to be the home of a new technology centre created by Australian financial services company Computershare which will create 300 jobs. Computershare secured…












Regulator clears Standard Life-Aberdeen merger

Standard Life and Aberdeen Asset Management said the UK’s Competition and Markets Authority (CMA) announced that it has cleared the £11 billion merger of the Scottish investment giants….


Film fund generates £17.5m for Scots economy

The Scottish Government’s Culture Secretary Fiona Hyslop said the Production Growth Fund has generated £17.5 million for the Scotland’s economy — returning £10 for every…









US authorities move to block FanDuel merger

The US Federal Trade Commission (FTC) said on Monday it has authorized legal action “to block the merger” of Edinburgh-headquartered FanDuel and Boston-based DraftKings, the two…










Investors OK £2.2bn Wood Group-Amec FW deal

Shareholders of Aberdeen-based oil and gas services company Wood Group and rival Amec Foster Wheeler have overwhelmingly approved Wood Group’s roughly £2.2 billion recommended all-share offer…






Aggreko buys Indonesia’s KBT for $33m

Glasgow-based Aggreko, the world’s largest temporary power firm, said it acquired KBT (Kerta Bumni Teknindo), an Indonesia-based power rental company for about $32.8 million. “KBT…


Scots unemployment falls to 4%, a 25 year low

The Scottish Government said Scotland’s unemployment rate has fallen to 4.0% to match the lowest rate in 25 years. Labour market statistics for February-April 2017 published…












Weir Group to buy Singapore’s KOP for $114m

Glasgow-based engineering giant Weir Group said it agreed to acquire Singapore-headquartered oil and gas technology firm KOP Surface Products from Norwegian-listed Akastor ASA for about $114m…




Menzies merger firm DX probed by police

UPDATE 2 — Courier firm DX Group, currently in the process of acquiring the distribution business of John Menzies in a reverse takeover, said on Friday it was notified by the…


Wood Group wins BAE submarines contract

Aberdeen-based oil and gas services giant Wood Group said it was awarded a new industrial services contract by BAE Systems Submarines. Effective immediately, the two-year contract…



Scotgold agrees first sales to jewellery industry

Scotgold Resources Ltd said it signed its first sales agreement with the Scottish jewellery industry involving two prominent Scottish jewellery manufacturers. The agreement covers the first refining batch — about…







Revised Menzies-DX deal wins over big shareholder

UK courier firm DX Group on Monday announced revised terms for its agreement to acquire the distribution business of John Menzies in a reverse takeover — winning the support of DX’s largest shareholder. Gatemore…


Ian Ritchie appointed chairman at Tern

Tern Plc, an investment company specialising in Internet of Things, announced the appointment of Scottish technology industry veteran Ian Ritchie as its non-executive chairman with effect…






Standard Life teams up with Sage for auto enrolment

Edinburgh-based pensions and investment giant Standard Life said it has fully integrated its auto enrolment offering with Newcastle-based software giant Sage Group, the UK’s largest tech company. Standard…




Elliott succeeds Grossart as IndigoVision chairman

Edinburgh-based video security company IndigoVision said on Monday that tech industry veteran George Elliott will join its board of directors on June 1, 2017 and succeed Hamish Grossart as chairman of…











Wood Mackenzie owner buys wind power specialist

Verisk Analytics, owner of Edinburgh-based energy, metals and mining consultancy Wood Mackenzie has acquired MAKE, a research and advisory business specializing in wind power. New Jersey-based…





BP hails first oil from massive Shetland field

BP and its co-venturers Shell and Siccar Point Energy announced first oil from the redeveloped Schiehallion Area following completion of the multi-billion-pound Quad 204 project in the west…





Johnston Press revenues edge higher

Johnston Press — owner of The Scotsman, the i newspaper and the Yorkshire Post — issued a trading update on Friday ahead of its annual general meeting…







£45m loan payments start for Scots farmers

Payments from a loan scheme designed to help vulnerable farmers and crofters in Scotland have started, the Scottish government said. More than 7,400 payments worth more…




Johnston Press shareholders force executive bonus cut

Johnston Press — owner of The Scotsman, the i newspaper and the Yorkshire Post — said that following consultations with shareholders, its proposed new directors’ remuneration policy would be changed…



Scots job creation at eight-month high

Job creation in Scotland reached an eight-month high in April despite business confidence easing to its lowest in six months, according to April’s Bank of Scotland Regional…



Edinburgh tidal power firm Atlantis in Hyundai deal

Edinburgh-based tidal power company Atlantis Resources said it signed a strategic partnership agreement (SPA) with South Korean offshore construction giant Hyundai Engineering & Construction regarding global…


Executive shake up at Aggreko

Glasgow-based international mobile power firm Aggreko announced a big change to its executive management team, with Nicolas Fournier, managing director of its Power Solutions division since November…


Advertising worth £8.8bn to Scottish GDP

Advertising contributed £8.8 billion to Scottish gross domestic product (GDP) in 2015 — about 5.6% of the Scottish economy — according to a new report from Biggar…


Menzies confident DX Group deal will go through

Edinburgh-based John Menzies said on Friday its proposed deal to merge its Menzies Distribution division with mail delivery firm DX Group continued to “move forward positively” and…






800 roles could go in Standard Life-Aberdeen merger

Standard Life and Aberdeen Asset Management expect to cut their combined workforce by up to 800 roles — nearly 9% of the companies’ combined payroll — within three years of their proposed merger, Standard…







Aberdeen Asset CEO Gilbert joins Glencore board

Mining and commodities trading multinational Glencore said it appointed Aberdeen Asset Management CEO Martin Gilbert as an independent non-executive director of Glencore with immediate effect. Aberdeen Asset Management is…


Shareholders threaten to block Menzies-DX deal

Activist shareholder Gatemore Capital Management has written to the board of mail delivery firm DX Group threatening to block its reverse takeover deal with the distribution arm of…



Strong start for Edinburgh conference business

Convention Edinburgh said the Scottish capital, the UK’s leading international meetings destination outside of London, made a “solid start” to 2017 with five new bid wins equating…








Aggreko progress hampered by Argentina

UPDATE 1 — Glasgow-based international mobile power firm Aggreko said in a first quarter trading update that its outlook for 2017 remained unchanged and that it…


Weir Group oil and gas orders up 50%

UPDATE 1 — Glasgow-based engineering giant Weir Group said its oil and gas orders rose 50% in the first quarter driven by significant growth in North…



£6.4bn of Scots infrastructure projects under way

Infrastructure projects worth almost £6.4 billion will be under construction throughout Scotland in 2017, the Scottish government said. Projects including the Forth Valley College Falkirk Campus,…


Virgin Money credit card balances up to £2.7bn

UPDATE 1 — Newcastle and Edinburgh-based challenger bank Virgin Money insisted it had maintained a “strong focus on asset quality” as its credit card balances grew about 8% to £2.7…




Small Scots firms depend on EU workers

UPDATE 1 — Two thirds of small employers in Scotland with EU workers are concerned about future skills shortages, according to new research from the…





Goals Soccer Centres confirms merger talks

Shares of East Kilbride-based Goals Soccer Centres rose about 6% after it confirmed it was in “preliminary discussions” about a merger with rival firm Powerleague. “The board…



















Economic upturn loses momentum as services slow

A downturn in Scotland’s big services sector offset strong manufacturing production growth in March as the Bank of Scotland Regional Purchasing Managers’ Index (PMI) report showed Scotland’s…


BrewDog valued at £1bn as TSG takes stake

Aberdeenshire-based craft beer company BrewDog said San Francisco private equity firm TSG Consumer Partners acquired 22% of BrewDog in a transaction that values BrewDog at roughly £1 billion. According to…





Lloyds takes £100m HBoS hit as FCA resumes probe

Lloyds Banking Group said it expects compensation for “economic losses, distress and inconvenience” related to the HBoS Reading scandal will be about £100 million and that a provision for that…


£79m car parking income for Scots councils

Local authorities in Scotland made a £40.3 million profit on £79.3 million of income from their car parking charges and penalties in 2015-16, according to research by the…







Parkmead doubles West of Shetland stake

Aberdeen-based independent oil and gas firm Parkmead said it nearly doubled its stake in the major Sanda North and Sanda South structures in the West of…







Iomart expects revenue to grow 17%

Glasgow-based cloud computing firm iomart said in a trading statement that for the year to March 31, 2017, it expects to show revenue growth of 17%…




Higher education R&D at record; total at £2.15bn

UPDATED — Scotland’s gross expenditure on research and development (GERD) rose 1.1% or £23 million in 2015 to £2.15 billion, according to a report from Scotland’s chief statistician. Scottish GERD…



Crown Ocean completes Bowleven clear-out

Monaco-based activist shareholder Crown Ocean Capital (COC) has completed its boardroom clear-out at Edinburgh-based oil and gas firm Bowleven with the resignation of chairman Billy Allan and departures…






Scots Parliament backs Sturgeon referendum bid

The bid by Scotland’s First Minister Nicola Sturgeon to stage a second referendum on Scottish independence was formally backed by the Scottish Parliament on Tuesday. MSPs voted 69 to 59…


Barr profit up to £43.1m amid low sugar rush

Shares of Cumbernauld-based Irn-Bru maker A.G. Barr rose after it said its statutory profit before tax increased 4.4% to £43.1 million on revenue down 0.6% to £257.1 million in the 52 weeks…


Wood Group wins $50m Premier Oil contract

Aberdeen-based Wood Group said it was awarded a $50 million contract with Premier Oil to deliver topside operations and maintenance services to the Balmoral floating production…


Stagecoach loses South West rail to FirstGroup

Aberdeen-based FirstGroup and joint venture partner MTR Corporation have been awarded the UK’s new South Western rail franchise, taking it away from Perth-based Stagecoach which has operated the…


Big oil discovery confirmed west of Shetland

Hurricane Energy on Monday confirmed weekend reports that it made a further, important oil discovery west of Shetland, calling the find “the largest undeveloped discovery…


Possible offers tabled for Edinburgh’s Exova

Edinburgh-based industrial testing firm Exova Group said on Monday it has received proposals for three possible cash offers for the company. It said the proposals were from Dutch…







Bowleven considers sale after Crown Ocean coup

Edinburgh-based oil and gas firm Bowleven — which last week had most of its board ousted by Monaco-based activist shareholder Crown Ocean Capital (COC) — said it is launching…


£51m debt raised for Green Highland Hydro

Infrastructure investment manager Ancala Partners LLP said it raised £51 million of debt facilities for Green Highland Hydro (GHH), the asset ownership vehicle for hydroelectric power…


EnQuest gross profit up 13% to $196m

North Sea exploration firm EnQuest, which recently went through a complex financial restructuring, said on Tuesday its 2016 gross profit rose 13.22% to $196.1 million despite…










Activists Crown now target Bowleven clear-out

Monaco-based activist shareholder Crown Ocean Capital (COC), which has ousted most of the board at Edinburgh-based oil and gas firm Bowleven, on Friday requisitioned another general meeting to…





Activist Crown Ocean ousts most of Bowleven board

Monaco-based activist shareholder Crown Ocean Capital (COC) has been successful in ousting most of the board at Edinburgh-based Bowleven, the Africa focused oil and gas exploration company, including chief…



STV CEO Woodward is new chairman at Blancco

STV chief executive Rob Woodward was on Tuesday appointed non-executive chairman of data erasure and mobile device diagnostics firm Blancco Technology Group, succeeding Matthew Peacock. Blancco also said…







Gilbert explains CEO job split with Skeoch

Aberdeen Asset Management CEO Martin Gilbert said in an interview on Friday he will focus on external affairs after his company merges with Edinburgh-based Standard Life to create the UK’s largest…







Menzies ‘back on track’ as turnover hits £2bn

Edinburgh-based aviation logistics and news distribution company John Menzies said its 2016 turnover rose to just more than £2 billion from £1.99 billion in 2015 and profit before tax edged…




Oil and gas production continues to rise

Trade body Oil & Gas UK said output from the UK Continental Shelf (UKCS) rose 5% to 1.73 million barrels of oil equivalent per day (boepd) in 2016 and should…


Craneware first-half revenue up 16% to $26.8m

Edinburgh-based Craneware, a software firm that specializes in the US healthcare market, said its first half revenue to December 31 increased 16% to $26.8 million and profit before tax…


Aggreko shares plummet amid profit warning

Shares of Glasgow-based international mobile power firm Aggreko fell roughly 12% after it said 2016 revenue and profit fell and that it expects the current full year profit before tax…



Revenue up 4.7% to £241m at Glasgow’s Devro

Glasgow-based sausage skin and collagen products firm Devro said currency gains helped its 2016 revenue increase 4.7% to £241.1 million — but in constant currency its revenues declined 6.9%….


Standard Life agrees to buy Aberdeen for £3.8bn

UPDATE 5 – Edinburgh-based Standard Life has agreed to buy Aberdeen Asset Management for £3.8 billion in an all-share transaction that would create a global fund management player overseeing £660 billion…


Standard Life, Aberdeen Asset confirm merger talks

UPDATE 5 – Scottish investment giants Standard Life and Aberdeen Asset Management confirmed in a joint statement they are in discussions about a possible all-share merger that would create a…



STV revenue up 3% to £120.4m; profit £15.7m

Glasgow-based media company STV Group said its 2016 revenue rose 3% to £120.4 million and statutory pre tax profit rose 60% to £15.7 million amid a growth in its “non-broadcast…



Archangels leads £3.6m ZoneFox funding round

Edinburgh-based cyber security software firm ZoneFox said it closed a £3.6 million funding round led by Scottish business angel investment syndicate Archangels with co-investment from The Scottish Investment…





Ambassador Betts is new Scotch Whisky CEO

The Scotch Whisky Association (SWA) — the influential trade body for the £5 billion Scotch industry — said it appointed diplomat Karen Betts as its new chief…


Barr shares rise as it cuts sugar in Irn Bru

Shares of Cumbernauld-based Irn-Bru maker A.G. Barr rose after it said it has made a “further commitment to reduce sugar across its soft drinks portfolio” in advance of a UK…


Shareholders OK Alliance Trust £630m buyback

Dundee-based investment firm Alliance Trust said its shareholders approved its radical plans to outsource its equity portfolio management and buy back the 19.75% stake of its biggest shareholder, US activist hedge fund…


Exova profit up 58% to £36m on £328m revenue

Edinburgh-based industrial testing firm Exova Group said its 2016 revenue rose 10.8% to £328.6 million and profit before taxation rose 58% to £36.6 million despite weakness in its oil and gas business. On a…


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

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


Pound falls amid reports of independence vote

Sterling fell against major currencies on Monday amid reports that another Scottish independence vote could be called and uncertainty about Britain’s future as it prepares to leave the European…