YP75: Straight to the fore with overseas expansion plans

The FTSE 100 ended the week down 64 points at 5668. A volatile week led to a swing of 200 points with a quiet session on Thursday due to Wall Street being closed in America for Thanksgiving Day.

Leeds-based Straight Plc the recycling products and services firm said on Monday it wants to grow its presence overseas by linking up with entrepreneurs keen to start their own business by selling its products.

Chief Executive Jonathan Straight said he views the strategy of utilising individuals' local knowledge as a better way to grow the business overseas than the current strategy of partnering with companies already providing similar services. Straight will provide products, help and support to individual partners which could include people heading existing local businesses spanning all parts of the globe but said individuals wanting to join forces with Straight would need to build their own infrastructure.

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The radical proposal would work through Straight agreeing a re-sell price for any products made locally while if a partner sold products made at Straight's production facilities in the UK and China then Straight would earn revenue by selling the product at a price higher than the production cost.

Hull-based KCOM Group Plc the UK telecoms provider announced a deal on Monday with British Airways adding voice infrastructure and applications to the data services it already provides to the airline. No financial details of the deal were disclosed and a team of 50 people based at Heathrow and Gatwick will support all offices and airport infrastructure across the two airports and the rest of the UK.

Ossett-based Carclo Plc the technology led plastics group issued a half yearly report on Tuesday reporting a rise in half-year profits. The company said it has good, well positioned, growing businesses and great technological opportunities. Profit before tax in the six months ending September 30 was 2m compared with 1.7m in 2009.

The company continues to benefit from growth opportunities in medical diagnostics and LED optics and feels the second half is set to build on the first half positive momentum. Start-up costs associated with the supercar lighting projects are progressively reducing, which will underpin an improved second half performance in this business.

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Preliminary results were released on Tuesday by Renew Holdings the specialist engineering company. Pre-tax profit rose sharply to 4m in comparison to 1.2m the previous year on the back of rising revenues.

Wednesday saw a half-yearly report from Clyde Process Solutions a global provider of pneumatic conveying. The first half performance was in line with management expectations with an intake of 38.5m compared with 30.1m in 2009.

Adrian Wasson: Assistant Investment Manager, Brewin Dolphin.

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