NCC eyes targets over the water
NCC Group is targeting acquisitions on America’s east coast as the IT security specialist looks to build on its strong growth across the Atlantic. The group said it would look to complement its existing presence on the US west coast by acquiring east coast firms specialising in testing organisations’ IT systems to help guard against [...]
QE increased by £50bn
The Bank of England held interest rates at 0.5 per cent, today. However, the Bank increased the scale of its quantitative easing programme to boost the money supply from £325bn to £375bn. Do you receive the MEN business bulletin? Take the hard work out of keeping up with Manchester business news and sign up for [...]
PZ Cussons in £135m refinancing deal
Consumer products giant PZ Cussons today announced a £135m refinancing deal to support its working capital, investment projects and future acquisitions. HSBC’s north west corporate banking team has provided £45m as part of a three-bank syndicate. Manchester-based PZ Cussons manufactures brands including Imperial Leather and Carex. Its beauty division includes St Tropez tanning products, the [...]
Cineworld box office rises four per cent
The UK’s largest cinema operator said higher ticket prices had offset a decline in admissions in the first half of its financial year. Cineworld, which has 79 cinemas and 811 screens, saw admissions fall 0.8 per cent, but box office revenues rose 4.1 per cent in the 26 weeks to June 28 as it bumped [...]
PZ Cussons adds to war chest with £135m refinancing deal
Consumer products giant PZ Cussons has the firepower to ramp up its acquisition strategy after a £135m refinancing deal which is understood to give the group more than £20m of new funds. The financial backing has been provided by HSBC, Barclays and Royal Bank of Scotland. It will support Cussons’ working capital, investment projects and [...]
Retail landlords offer cash incentives
A growing number of retail landlords in the north west are offering incentives to secure lettings, a report shows. A survey by the Royal Institution of Chartered Surveyors found inducement packages such as rent-free periods or financial sweeteners have become more commonplace to combat a fall in demand. In the last quarter, a balance of [...]
Epistem gets European go-ahead for Genedrive
Biotechnology firm Epistem has gained approval to sell its Genedrive device in 30 European countries. Epistem, which is based in Manchester, said it has registered Genedrive, which enables medics to diagnose infectious diseases within 30 minutes, for sale in the European Economic Area, which includes the 27 EU countries and Iceland, Norway and Liechtenstein. Genedrive [...]
Begbies Traynor ready to return to the acquisition trail
Revamped Begbies Traynor is eyeing a return to the takeover trail for its core insolvency division with a target of up to three acquisitions a year. Executive chairman Ric Traynor revealed his plans after spending a year refocusing the Manchester-based group. Begbies sold its tax, Red Flag and offshore operations in the year to April [...]
KDC takes on staff to service £3.4m contract wins
Demolition and decommissioning specialist KDC is beefing up its operations north of the border following contract wins worth £3.4m in the first half of this year. KDC, which has its headquarters in Wythenshawe, Manchester, has taken on four more staff at its site in Grangemouth in response to its increased workload. KDC now has a [...]
Vince Cable says skills gap will take decade to overcome
The skills gap facing Britain’s manufacturers will take a decade to overcome, Business Secretary Vince Cable told a business audience in Manchester. He made his comments at the Siemens Answers for Industry conference, which took place at Manchester Central. The event was in support of the government’s Make it in Great Britain campaign, which aims [...]