ECONOMYScottish retail sales shockA new survey has revealed that Scottish retail sales surged for another a month. The findings of the Scottish Retail Monitor survey show spending up by eight per cent annually in
May with good weather believed to be encouraging consumers to spend on clothes and summer foods. To some degree the spike in sales reflects the unquantified effect of increasing commodity prices which has driven the spiking inflation currently causing consternation among policy makers. Doubts have been raised that the Scottish Retail Monitor findings represent the true mood on the high street but director of the Scottish Retail Consortium Fiona Moriarty insisted the figures ring true. She commented: "In terms of the survey and who we survey I would not put my name to anything that was not credible. We collect data (from retailers) that hovers around 60 per cent of the total value of sales every month; if you're challenging me on whether it's truly representative I would absolutely say it's the most credible sample, you're not going to get bigger."
(The Herald) Read all today's economics news from scotsman.comFOOD, DRINK & AGRICULTUREEnd of the road for Perth MartThe company behind Perth Mart has revealed the agriculture auction is to cease operation from next year. United Auctions have claimed the move is necessary to protect the long-term future of the group and will move the operation to a new site in Stirling. There will be no interruption to scheduled auction sales and no redundancies when the decision comes into effect. Chairman of UA, David Leggat said: "There have been huge changes in the industry which mainly relate to numbers. There are less and less people on farms. At the moment we haven't got a weekly sale at certain times of the year in Perth because there's not enough stock. But there is in the Stirling area, so we're joining the two up to give our customers more opportunities." Perth MSP Roseanna Cunningham reacted to the decision with dismay: "This is a very disappointing decision indeed. I am absolutely staggered by the news that United Auctions are planning to close Perth Mart in a year's time. Perth Mart is not just a collection of pens and stalls. It lies at the heart of an agricultural complex that supports a number of businesses and there has to be real concern about the impact the mart's closure will have on those businesses."
(BBC Scotland Online) Read all today's food, drink and agriculture news from scotsman.comINDUSTRY£11.75 million contract for Perth groupI&H Brown, the Perth civil engineering firm, has been awarded a £11.75 million contract for work on infrastructure for the Commonwealth Games in Glasgow. The company will carry out the necessary infrastructure, remedial and enabling works for the national indoor sports arena and velodrome project in the East End of the city. Managing director Scott Brown commented: "We are delighted to have secured this major contract which is set to revitalize this part of Glasgow's East End, bringing with it huge economic and social gain. Carrying out these important enabling works on time and on budget are the first steps towards preparing the area for the Commonwealth Games and the future redevelopment and construction of buildings such as the velodrome which is set to follow."
(The Scotsman) Read all today's industry news from scotsman.comMEDIA & LEISURECorsie Group sale completeThe sale of the Corsie Group has been completed by administrators with the company expected to continue to operate from their Haddington headquarters. The deal is believed to have safeguarded 19 jobs at the sporting equipment firm and will see Crystals Ltd take over the running of the three divisions set up by former world bowls champion Richard Corsie. Blair Nimmo of administrators KPMG commented: "Not only has this saved 19 jobs, but the sale also ensures that customers will continue to be serviced and suppliers will have ongoing business."
(The Scotsman) Read all today's media and leisure news from scotsman.comRETAILWalter Davidson to continue with acquisitive strategyStruggling pharmacy chain Walter Davidson has vowed to continue with its acquisitive strategy despite the clawback by the NHS of excess drug payments expected to cost the firm some £800,000 of profit this year. The Blairgowrie chain made two acquisitions last year and currently operates 26 outlets across the country. Managing director Alan Gordon confirmed the company would continue to seek expansion and commented: "We continue to be acquisitive. The main challenge at the moment is buying pharmacies at the right price." The company is being hit by the decision by the NHS to devalue category M drugs as it attempts to recover significant overpayments. Gordon added: "This is the tariff which tells pharmacists what their reimbursement prices are for generic medicines. The NHS suddenly slashed these prices – they were going to catch up with us at some point but what we would have liked is some sort of warning. We have done very well over the last few years, and that is now gradually being pegged back."
(The Herald)Highland Council to refuse TescoHighland Council looks set to refuse Tesco permission to open its first outlet on Skye. The council's planning department have recommended the planned store in Portree for refusal amid concerns a new supermarket would have a detrimental impact on existing retailers.
(BBC Scotland Online) Read all today's retail news from scotsman.comPROPERTYWatson placed in administrationWest Lothian-based Watson Construction Group has been put into administration despite being one of Scotland's oldest building and restoration companies. No members of the West Calder firm's management team were available for comment yesterday but a call from the Herald reportedly led to the caller being advised the company 'had closed'. The caller was told to inquire at the offices of Kroll, a company specialising in the restructuring of insolvent firms. Kroll confirmed the group had gone into administration and it was dealing with the administration procedure.
(The Herald)Housebuilders call for help from MSPsHousebuilders in Scotland are calling for MSPs to lobby Westminster in a bid to force the UK government to encourage lenders to pass on interest rate cuts to borrowers and introduce a temporary freeze on stamp duty. The organisation Homes for Scotland also wants to see the re-introduction of income support and mortgage interest relief as well as increased bridging finance support for house buyers. Chief executive Jonathan Fair claimed the housebuilding industry brings in £6 billion to the Scottish economy and directly and indirectly employs some 100,000 people. He added: "Let's be in no doubt – Scotland remains in better shape than the rest of the UK. But the overly cautious approach being taken by mortgage lenders means that purchasers, particularly first-time buyers and key workers, are finding it difficult to secure finance on acceptable terms. This is placing great strain on the production of new homes and resulting in significant deterioration in general market confidence. This is having immediate, marked and obvious knock-on effects. Indeed, output is currently falling and many jobs within our sector have already been lost."
(The Scotsman) Read all today's property news from scotsman.com
The full article contains 1238 words and appears in scotsman.com newspaper.
