Hello and welcome to our daily digest of business, financial and economic news from around Scotland.
1. Transport Scotland and CalMac have agreed to extend the charter of the MV Alfred ferry for a further six months.
The vessel, owned by Pentland Ferries, has been on loan to the national fleet since April last year. The deal was due to end on August 21 but will now run until March 2025.
The ferry has mainly run between Brodick, on Arran, and the Ardrossan and Troon ports on the mainland.
Duncan Mackison, the interim chief executive at CalMac, said: “MV Alfred has proven to be an invaluable addition to our fleet during a particularly challenging period, and we are pleased this extension will see her remain in service until next year.”
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CalMac also said the MV Caledonian Isles, which has been in drydock for repairs since January, is expected to return to service by the end of August.
2. The accountancy firm Johnston Carmichael has reshuffled its leadership structure.
Mark Houston moves from chairman to senior partner while Lynne Walker, formerly deputy chairwoman, becomes chief executive. Walker, based in Elgin where the firm was founded, succeeds Andrew Walker, who is stepping down after five years as chief executive.
Johnston Carmichael employs more than 900 people across the UK and had a turnover of £67.9 million for the 12 months to May 2023.
Graham Marjoribanks, head of audit, becomes the vice-chairman and Shaun Millican takes on Lynne Walker’s former role as head of business advisory.
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The new chief executive said: “It’s a great honour, alongside Mark, to be leading Johnston Carmichael at such an exciting time for the business.”
3. Glasgow has opened its first venture studio with backing from the UK Shared Prosperity Fund.
The facility, launched by the Glasgow City Innovation District, will be dedicated to fostering innovative high-growth companies that can support social innovation and bring community benefits.
A pilot phase will run until next year, open to entrepreneurs, designers, developer and other experts across the city. The aim is for those groups to collaborate at the studio and find viable new businesses. A first initiative will involve data for the space sector, with grants of up to £30,000 available.
Susan Aitken, leader of Glasgow city council, which chose to allocate some of the Shared Prosperity Fund money to the project, said: “This is a very exciting project that brings together all the people necessary to develop the new business ideas, products and services in high-growth sectors that will create jobs and attract investment to Glasgow.”
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4. Norman Broadbent Group, an executive search firm, has opened a second Scottish office. The company has added a location in Edinburgh to its Aberdeen base as well as increasing staff numbers.
Michael Diamond, managing director for Scotland, said the growth was underpinned by winning contracts from clients across the energy, industrial, consumer, technology and education sectors.
He said: “Having partnered with many of Scotland’s biggest and most successful companies for decades, our physical presence here has now strengthened our offering across multiple sectors.”
5. The bakery and confectionery ingredients supplier R&W Scott is to move into staff ownership. The Lanarkshire company said it would operate under an employee ownership trust.
Its senior leadership team staged a management buyout in 2018 and members believe the new structure will help to retain the independence of the business.
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John Easton, the executive director, is leaving but will take a position on the trust board to represent exiting shareholders.
Stephen Currie, the managing director, Clare McNeil, the commercial director, and Michael Hewitt, the finance director, will continue running the day-to-day operations.
McNeil said the changes would “safeguard employment and continue to deliver sustainable growth”.
