News



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…


£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…