Business In Brief

Oct 15 2008 Daily Record

ORTAK are marking the run-up to Christmas by launching eight collections and opening two stores.

The Orkney jewellery manufacturers have recorded sales of just under £5million since January, a 9.7 per cent rise compared with the same period last year.

Profits are predicted to better the 2007 pre-tax figure of £224,000.

The firm have just opened a store in Glasgow and are opening another soon in Livingston, taking their number of shops to 14.

SIX firms based in Scotland are through to the final of the 2008 British Chambers of Commerce Regional Awards.

Three from Renfrewshire - Diageo, Dyynatech and BAA Glasgow Airport - have all won categories.

They will join Aberdeen's Equalizer International, Ayrshire's Borlands Delicatessen and Neale Cater of training and development company Redworth Associates.

One of them could win £50,000.

CARPHONE Warehouse yesterday set out plans for electronics megastores in the UK next summer under its joint venture with US giants Best Buy.

The group said in a trading update that they would spend £20million on the launches in their current financial year to March.

Carphone Warehouse sold 50 per cent of their retail business to Best Buy for £1.1billion earlier this year as part of a plan to join forces and expand across the UK and Europe.

PREMIER Inn hotels owners Whitbread highlighted their "resilience" yesterday after reporting a 24 per cent jump in half-year profits.

The group, who also own coffee chain Costa and restaurants Beefeater and Brewers Fayre, said the positioning of their brands in value-for-money segments had served them well in the current economic climate.

Pre-tax profits from operations for the six months to August 28 rose to £123.3million after like-for-like sales rose seven per cent.

HOUSEBUILDERS Bellway yesterday said their order book had slumped by nearly half as they unveiled a 30 per cent plunge in annual profits.

The Newcastle firm reported pre-tax profits of £165.7million for the year to July 31, compared with £234.8million a year earlier.

Bellway's order book at the end of September was £342 million - 49 per cent lower than the £667million at the same time last year.

Chairman Howard Dawe said the sharp housing slump had been unprecedented.