EV Group to open offices in Liverpool and Kendal

Insider Media reported today that North West based Venture Capital firm, EV Group will open offices in Liverpool and Kendal to be closer to investment opportunities following its appointment to run the £30 m North West Venture Capital Fund.

GB Group wins top gaming Award and plans to move to AIM

Just discovered GB Group thanks to Insider Media, which reported that the company plans to move to AIM from the Main Market due to heavy transactional costs and administrative and regulatory burden experienced since flotation. Insider Media also reported that David Rashe from Yorkshire based SSP will join as Non Executive Director from September 1st. Company is run by Richard Law and recently won the "Fraud and compliance solution of the year" award at eGR B2B Awards which recognises achievement and innovation among egaming’s B2B companies and service providers.

Structure Vision launches

Structure Vision, which pitched for investment at our March Dragon's Lair event and based at the same location as Techcelerate (i.e. Daresbury Science and Innovation Campus) has launched its flagship product NuPlant, which allows cutting and packing of objects in nuclear plans during decommissioning to optimise the way in which the various components of the facility are packed for storage. According to Insider Media, Structure Vision received funding of £300,000 from NWDA to bring the product to market. Well done, Rob Rule.

Pro-Manchester lobbying for Entrepreneurs of Manchester

Insider Media is carrying a story today on two new initiatives by John Ashcroft's Pro-Manchester; a bank and venture capital fund for entrepreneurs. John plans to run a serious of meetings and consultations over the coming months to validate his ideas with the help of Deloitte, KPMG, Altium, Ford Campbell, Adam & Co, Manchester Business School and Zeus Private Equity.

YFM backs digital deal

Insider Media reports that Medical communications agency, Fishawack Communications, based in Knutsford, has made its second acquisition with backing from YFM, which Paul Gower hinted at our last event. The company, which went through a £6m management buyout in 2008, has bought High Wycombe’s Alpha-Plus Medical Communications. The deal follows Fishawack’s move into the US market with the deal to buy Philadelphia-based Nexus Communications in February.

NCC Group reports 18% rise in profits

Manchester based NCC Group reported today, strong financial results with 18% growth in profits.

Financial highlights

- Group revenue up by 15% to £53.7m (2009: £46.8m)
- Group adjusted operating profits* up by 16% to £14.8m (2009: £12.7m)
- Group adjusted pre-tax profits* up by 18% to £14.5m (2009: £12.3m)
- Adjusted fully diluted earnings per share* up 14% to 29.7p (2009: 26.1p)
- Total dividend up 16% to 10.75p (2009: 9.25p)
- Cash conversion ratio was 139% of operating profits (2009: 140%)

Operational highlights

- Group Escrow maintained strong revenue growth of 9%
- Escrow UK saw strong organic revenue growth of 8%

- Assurance strengthened position as UK’s largest independent information security business
- Two acquisitions completed to enhance position and widen capabilities

Outlook for 2010/2011:

- Group Escrow renewals forecast to be £15.2m (2009: £14.9m)
- Group Escrow verification order book £2.2m (2009: £2.0m)
- Assurance order book, including the acquisitions, £14.0m (2009: £9.4m)
- Site Confidence monitoring renewals forecast to be £4.3m (2009: £4.1m)

Thanks to Insider Media for the tip