March 2017


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…