Business Briefs - May 7

The firm, which bought Fletchers Group of Bakeries last year, said that the purchase of Johnstone’s would escalate the company’s entry into the foodservice cake market.

The acquisition will also save the jobs of 150 Scottish employees.

Johnstone’s is a supplier to leading national coffee shop chains, and produces cakes such as caramel shortcake and brownies.

Johnstone’s appointed administrators from FRP Advisory in March, following the loss of contracts with two of its key independent customers.

Completion of the acquisition by Finsbury is conditional on the finalisation of property lease details, which it hopes to complete as soon as possible.

Growth in the dominant services sector hit an eight-month high in April, bolstering hopes of a wider economic recovery after a slow start to the year.

The closely-watched Markit/Cips report, which follows disappointing figures for the construction and manufacturing industries, gave a reading of 59.5, up from 58.9 the previous month and the highest level since August.

Dundee-based Alliance Trust Savings (ATS) has today revealed that clients have contributed 41 per cent more to their SIPPs in the first four months of this year than they did over the same period in 2014.

In 2013/14 tax year the annual allowance (how much someone can pay into their pension and benefit from tax relief) was £50,000 but this reduced to £40,000 in the 2014/15 tax year. Despite this reduction contributions have increased significantly.

Brian Davidson, senior pensions proposition manager at Alliance Trust Savings: “The new Pension Freedoms have given pensions a new lease of life. Clients no longer feel trapped and this new flexibility has encouraged them to make more contributions to their SIPP. Clients are also fully aware that the pension annual allowance is a tax break that the political parties are willing to tweak to balance the books. With the General Election looming there is growing acceptance that the existing annual allowance of £40,000 will inevitably fall irrespective of who resides at Number 10 and clients seem to be taking a view of use it or lose it.”

Scottish craft brewer Innis & Gunn has added a second brand from Somerset cider-maker Thatchers to its portfolio in the US.

The deal to distribute Green Goblin comes seven months after Innis & Gunn USA Inc signed a three-year deal to sell Thatchers Gold across the Atlantic.

It is now available in 18 US states.

IGUSA will sell the five-per-cent-alcohol-by-volume Green Goblin in 500ml single bottles and 330ml basket packs.

Dan Deluca, managing director of IGUSA, said: “From a standing start we have made a significant impact in retail for Thatchers Gold and are delighted that they have chosen to partner with us again on Green Goblin.”

Charitable Scots in the nation’s two largest cities have given about £2 million to the Disasters Emergency Committee (DEC) Nepal earthquake appeal.

A total of £1,127,500 has been donated in Edinburgh and £820,000 in Glasgow raised for the.

The totals place them second and third respectively in the list of the UK’s most generous cities, behind London in first place.

Across Scotland, £3.5m has been raised since the DEC appeal was launched last Tuesday, with £41m raised throughout the UK.

The death toll from the Saturday, April 25, quake has reached more than 7,300 and is expected to rise.

Fife-based Interior solutions provider Havelock Europa has announced the appointment of David Ritchie as chief executive officer (CEO) with immediate effect.

Mr Ritchie, 43, joined the company in 2013 as group commercial manager and in April 2015 he was appointed to the board of Havelock as chief operating officer. Prior to joining Havelock, he worked for Balfour Beatty plc (1998 – 2013) andWimpey PLC (1989-1998).

A Fellow of the Royal Institute of Chartered Surveyors, Mr Ritchie has an MBA in Business Administration from University of Strathclyde, Graduate Business School.