Business confidence up in first quarter

Group business correspondent

Tuesday 5 March 2013

CONFIDENCE among Scottish businesses is running slightly higher in the first quarter of this year compared with the last three months of 2012.

However, while this was the fourth consecutive positive reading of business confidence north of the Border, the score remains lower than the UK average.

Businesses in Scotland gave a confidence score of 5.5% for quarter one of 2013, up from 1.7% in the final quarter of 2012, the Business Confidence Monitor from the ICAEW (Institute of Chartered Accounts in England and Wales) and Grant Thornton shows.

The UK average was 12.8%, with businesses in Scotland reporting weak growth on several key performance indicators. Sales volumes had fallen by 0.1% in the 12 months to quarter one this year. Although turnover growth was more encouraging at 0.8%, it was the slowest growth since the fourth quarter of 2009. Respondents expect sales volumes and turnover to rise this year but not at the same rates projected this time last year. More Scottish businesses (61%) said they found regulatory requirements a challenge compared with the first quarter of 2012 (38%). EU farm unions must unite over lamb prices By Rog Wood for Tuesdays Herald, March 5th The impact of the fall in lamb prices is being felt by farmers across Europe and it is essential that EU farming organisations act as one to tackle it reckons Charles Sercombe, livestock board chairman for the NFU of England and Wales. Margins for sheep farmers have been put under pressure due to a disrupted marketing season brought on by the weather and the challenge of cheap imports. Referring to a recent UK farming unions summit that called for Europe-wide meetings in early March, Mr Sercombe said: "This challenge is not just a UK issue, it is putting sheep farmers all over Europe under pressure and we are committed to standing with our European counterparts to address it." "We must promote lamb around the EU," he added and went on: "But we must also look at the New Zealand lamb quota situation. The last real change to the quota was back in 1994 and the processing industry has made significant changes since then. It's important the Commission looks at the value of imports coming into the EU and not just the tonnage. "We're calling on the European Commission to help promote lamb across the EU and address our concerns regarding the outdated quota regime." Market round-up The Cumberland and Dumfriesshire Farmers Mart sold 62 store heifers at their fortnightly sale in Dumfries yesterday to a top of 237.2p per kg and an average of 211.5p, while 262 store bullocks peaked at 288.4p and levelled at 220.1p. Thirty B&W store bullocks sold to 188p and averaged 165.2p, while 13 young bulls peaked at 236.4p and levelled at 218.8p. Harrison and Hetherington Ltd sold 14 prime heifers in Carlisle yesterday to a top of 239.5p and an average of 202.3p (-8.7p on the week), while 23 prime bullocks peaked at 237.5p and levelled at 219.6p (+9p). Forty-nine prime, beef-bred bulls sold to 242.5p and averaged 212.7p (+3.1p), while 49 prime, dairy-bred bulls peaked at 197.5p and levelled at 174.5p. In the rough ring 55 beef cows averaged 159.7p (+4.4p), and 85 dairy cows levelled at 128.3p (+5.9p). Nine bulls averaged 150.6p (-5.7p). The firm also sold 1862 prime hoggs to a top of £100 per head and 266.1p per kg to average 193.3p (+11.3p). The 79 cast sheep forward saw ewes sell to £88.50 for Texels and £46.50 for Swaledales. ENDS

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Business confidence up in first quarter

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