Articles by Scottish Financial Review

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…


£1.7bn UK defence investment in Scotland

The UK government’s defence secretary Michael Fallon said £1.7 billion would be invested to upgrade Scottish military bases as the MoD’s Defence Board met in Edinburgh for the…



Litigation, conduct costs push RBS to £7bn loss

Royal Bank of Scotland said it made an attributable loss in 2016 of £6.95 billion which included litigation and conduct costs of £5.87 billion and restructuring costs of £2.1 billion….


Standard Life operating profit up 9% to £723m

Edinburgh-based investment, pensions and insurance giant Standard Life said its operating profit before tax rose 9% to £723 million in 2016 and assets under administration rose by 16% to…



Acquisitions boost Macfarlane sales to £180m

Glasgow-based packaging firm Macfarlane Group pledged to continue looking for takeover deals as it revealed that recent acquisitions helped its 2016 sales rise 6% to £179.8 million and profit before tax…






Whisky master blender Rachel Barrie joins BenRiach

Kentucky-based spirits and wine group Brown-Forman said it appointed Rachel Barrie as whisky maker for its Scotch whisky portfolio which includes the single malts BenRiach, The GlenDronach and Glenglassaugh distilleries,…






Hunter leads new investment in TVSquared

Edinburgh-based TV advertising analytics firm TVSquared said it raised another $6.5 million “as the demand for TV measurement and optimization grows within the $202 billion TV ad…



‘Major problems’ if Alliance Trust loses vote

ShareSoc, the UK Individual Shareholders Society, warned of “major problems” for Dundee-based investment firm Alliance Trust if shareholders do not support the firm’s board in its radical plans to outsource its equity portfolio…



Unilever rejects $143bn Kraft Heinz offer

UK-Dutch consumer goods giant Unilever — owner of brands including Dove, Flora, Hellmans, PG Tips, Knorr and Persil — rejected a potential offer of around $143 billion from The Kraft…







Food, drink exports to Japan almost £100m

The value of Scottish food and drink exports to Japan has surged to almost £100 million, strongly supported by Scotch whisky, external affairs secretary Fiona…


Unemployment fell 27,000 in past year

Unemployment in Scotland rose by 6,000 over the October to December 2016 quarter to 135,000, but the jobless level was down 27,000 on the same quarter…


Grand Theft guru leads Krotos investment

Edinburgh-based Krotos, producer of audio products for the entertainment industry, said it secured angel investment in a deal led by Leslie Benzies, former president of Grand Theft Auto…


Stagecoach sells US tourist bus stake

Perth-based transport giant Stagecoach Group said it sold its interest in the Twin America LLC joint venture for an undisclosed sum. Twin America was a joint venture between…






Collagen Solutions to raise up to £12m

Glasgow-based regenerative medicine firm Collagen Solutions announced a conditional placing and open offer of shares to raise up to £8 million and said it received a conditional…


New chair at Melrose angel investor TRI Cap

Melrose-based angel investment group Tweed Renaissance Investors (TRI Capital) appointed Jamie Andrew as its new chairman following the retirement of Rob Dick. Andrew said: “TRI Cap has…


New fintech hub to open at RBS HQ

A new fintech hub backed by the UK and Scottish governments and based at Royal Bank of Scotland’s headquarters at Gogarburn, Edinburgh, will open to entrepreneurs…



Co-op Bank puts itself up for sale

The Co-operative Bank, rescued from near collapse by hedge funds in 2013, said it has put itself up for sale amid a neeed to build its capital and…


Scots new order growth hits 20-month high

New order growth accelerated to a 20-month high at Scottish private sector companies in January, according to the latest Bank of Scotland Regional Purchasing Managers’…







Edinburgh University income up to £908m

The University of Edinburgh said its total income for the year ended July 31, 2016 was £908 million — including exceptional items of £19 million —…



Man Utd expects £540m revenue; debt at £409m

Manchester United said its revenue rose 18% to £157.9 million in the three months to December 31, 2016, but its net debt jumped 27.1% to £409.3 million. It its outlook, the company…


Mattioli Woods buys 49% of Edinburgh’s Amati

Leicester-based wealth management firm Mattioli Woods said it acquired 49% of Edinburgh-based fund manager Amati Global Investors Limited from Amati Global Partners LLP for £3.33 million.   Mattioli Woods…


Bowleven urges shareholders to reject activist

Edinburgh-based Bowleven, the Africa focused oil and gas exploration company, on Wednesday urged its shareholders to vote against all resolutions of Monaco-based activist shareholder Crown Ocean…





North America keeps FirstGroup on track

Shares of Aberdeen-based bus and rail giant FirstGroup rose about 5% after it said its reported group revenue rose 12.8% in the quarter to December 31, helped by favourable currency translation…





Smart Metering Systems up 20% to £41.3m

Glasgow-based Smart Metering Systems (SMS) said total annualised recurring income increased by 20% to £41.3 million as at December 31, 2016. The company’s shares have soared about…