WELCOME to scotsman.com’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.
FOOD, DRINK & AGRICULTURE
Asda caves in as milk price protesters gain edge
The battle over the price of milk swung in favour of producers last night with the National Farmers Union of England and Wales announcing that Asda had confirmed it would raise the price it pays for milk by 2p per litre (ppl) from 1 August ({http://www.scotsman.com/business/food-drink-and-agriculture/asda-caves-in-as-milk-price-protesters-gain-edge-1-2429926|Scotsman|Scotsman}).
Profits at food firm drop but director is upbeat
BROWNS Food Group reported a decline in pre-tax profits from £4.5 million to £3.2m as turnover fell from £108.2m to £104.3m. The food manufacturer said it was pleased with the performance as market conditions continued to be challenging and competitive ({http://www.heraldscotland.com/business/company-news/profits-at-food-firm-drop-but-director-is-upbeat.18235389|Herald|Herald}).
{http://www.scotsman.com/business/food-drink-and-agriculture|Read all today’s food, drink and agriculture news from scotsman.com|Read all today’s food, drink and agriculture news from scotsman.com}
ENERGY & UTILITIES
First electricity flows from gas in Scots coal seams
DART Energy has produced the first electricity from natural gas recovered from within coal seams in Scotland. The Australian company is working on the coal bed methane (CBM) project on a 329 square kilometre site near Airth in Stirlingshire ({http://www.heraldscotland.com/business/company-news/first-electricity-flows-from-gas-in-scots-coal-seams.18235350|Herald|Herald}).
{http://www.scotsman.com/business/energy-and-utilities|Read all today’s energy and utilities news from scotsman.com|Read all today’s energy and utilities news from scotsman.com}
MEDIA & LEISURE
Cupid’s French connection seals a marriage aimed at expansion
DATING website operator Cupid still has “plenty of scope” for further takeover deals this year after yesterday tying the knot with a French peer. The Edinburgh-based com-pany will be sitting on a war chest of nearly £11 million come the end of the year to fuel further takeovers, according to analysts ({http://www.scotsman.com/business/management/cupid-s-french-connection-seals-a-marriage-aimed-at-expansion-1-2428566|Scotsman|Scotsman}).
{http://www.scotsman.com/business/media-and-leisure|Read all today’s media and leisure news from scotsman.com|Read all today’s media and leisure news from scotsman.com}
TRANSPORT
Motor auction firm drives up turnover
SCOTTISH Motor Auctions Holdings, which bills itself as the largest independent in its sector in the UK, bounced into the black in its last financial year as turnover jumped from £13.4m to £18.7m, defying the challenging economic climate ({http://www.heraldscotland.com/business/company-news/motor-auction-firm-drives-up-turnover.18235354|Herald|Herald}).
Martin Gilbert faces growing pressure to quit as FirstGroup chairman
FIRSTGROUP chairman Martin Gilbert will today face fresh shareholder pressure to step down over continued under-performance of the firm. Analysts have criticised the board’s “numerous and significant” management “failings” which have caused First’s share price to drop significantly since a surprise profits warning in March ({http://www.scotsman.com/business/transport/martin-gilbert-faces-growing-pressure-to-quit-as-firstgroup-chairman-1-2429687|Scotsman|Scotsman})
{http://www.scotsman.com/business/transport|Read all today’s transport news from scotsman.com|Read all today’s transport news from scotsman.com}