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Ice Factor buys up Glasgow ski slope

Category: Scotland Business News — Mark on December 30, 2011

Lochaber-based indoor climbing centre company Ice Factor, has acquired the SNO!zone indoor ski slope in Braehead, Galsgow. (more…)

US private equity firm rescues Scottish family firm

Category: Scotland Business News — Mark on December 28, 2011

The UK’s biggest private home developer, Miller Group, has secured a £160m ($249m) investment from one of the biggest private equity firms in America. (more…)

Scottish company powers to $100m contract

Category: Scotland Success Stories — Mark on December 26, 2011

A Glasgow based power firm is celebrating a $100m (£64.5m) contract extension in Bangladesh, rounding off a year that has seen better than forecast profits. (more…)

Scottish printing company looks to a fabric future

Category: Scotland Success Stories — Mark on December 24, 2011

A Lanarkshire-based vehicle graphics printing company is confident that fabric printing could be the next major growth area for their industry. (more…)

Scots Entertainment Company debuts on Facebook

Category: Scotland Success Stories — Paul Morgan on December 22, 2011

A Dundee-based mobile video gaming company, only set up in February of this year, has launched its first two titles.

Developed for Facebook, the two games from (more…)

Scottish Energy Co powers into Latin America

Category: Scotland Success Stories — Gary Cain on December 20, 2011

A Scottish energy services company has made a move to set up shop in Latin America, through an audacious US acquisition.

Mustang, a US subsidiary owned by the Aberdeen based Wood Group firm has taken the controlling majority of ISI Solutions, in a deal with (more…)

Scotland’s cities to get £5m boost from government

Category: Scottish Investment — Mark on December 18, 2011

It has been confirmed that the six Scottish cities are to receive extra funding to boost their local economies.

The Council leaders of Aberdeen, Dundee, Edinburgh, Glasgow, Inverness and Stirling will have to decide what projects will receive the cash.

A total of £5m has (more…)

DC Thomson reassesses market value of Friends Reunited asset

Category: Re-financing — Paul Morgan on December 16, 2011

Once bought for £175m, the social networking site Friends Reunited is now worth just a fraction of that; provoking its current owners to re-evaluate the asset.

Dundee based publishers DC Thomson were forced to restate their associated accounts to reflect the intangible asset’s productive value of just £5.2m. This means that more than £20m of the purchase price paid to broadcasters ITV for the site, is now officially accounted as a “goodwill” payment.

However, though this is clearly a blow to its online ambitions, the company still managed to boost their online turnover share; rising from 4 per cent to 10 per cent.

The family-controlled company, most commonly associated with comic titles: Oor Wullie, the Broons and The Beano, also has total assets to the value of £1.2bn. This includes an operating pre-tax profit of £28.6m in the year to March – a 5 per cent increase from the previous year.

These figures were, in part, helped by the closure of a Dundee print plant, a decision which company secretary, Irene Douglas, admitted had pained them. They are also moving ahead with another closure, this time in Glasgow, over the next two years.

Throughout the economic difficulties, many Scottish companies have had to take hard decisions. However, through innovative financing strategies such as invoice factoring, and controlling staff costs at all levels, redundancies and wide scale closures could be avoided.

It is unclear whether such strategies have been considered by DC Thomson; a very private company no matter the economic climate. However, they would certainly have not budgeted for such a drop off in the value of a social networking site in this day and age.

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