Good afternoon, and here's hoping you've had a pleasant - or at the very least productive - weekend. In case you might have missed it, here's the round-up of the best business stories of this past week from The Herald.
It was a busy one indeed, with plans announced for Orkey's first new whisky distillery in 138 years. On the following day BrewDog co-founder James Watt revealed that after twice being rejected by the BBC's Dragons' Den, he is swapping out mythical creatures with the launch of his own "The Next Unicorn" competition.
Other individuals in the news included Debra Crew, who has been named as the next chief executive of Scottish whisky giant Diageo, while the great-grandson of the creator of Scotland's favourite soft drink is cutting his formal links with the company after 62 years in the business.
Meanwhile, it seems there may not be all that much gold in them thar hills as Scotland's only commercial miner of precious metals has warned of "significant doubt" over its ability to continue as a going concern. Energy companies remain high on the agenda as well, including the news that Scottish power company SSE has hiked its earnings forecast for the second time in little more than two months.
Read on to discover more, otherwise, enjoy the rest of your weekend.
Plans for island's first new whisky distillery in 138 years
Construction is set to begin this summer on what will be the first whisky distillery to open in Orkney in 138 years. Family-owned Deerness Distillery - maker of the award-winning Sea Glass Gin - is funding the six-figure expansion with the pre-sale of 200 casks of its inaugural release single malt.
Irn-Bru veteran steps down after 60 years as profits soar
Irn-Bru maker AG Barr has reported a hike in profits to nearly £45 million as it announced Robin Barr was stepping down from the board after nearly 60 years. Barr lifted pre-tax profits by 5.2 per cent to £44.4m for the year ended January 29, on turnover up 18.2% at £317.6m, against the backdrop of the cost-of-living crisis and steep rises in overheads.
- Read the full story
- Scott Wright: Irn-Bru stalwart retiring but Barr family will remain at top table
Gold miner Scotgold warns of 'material uncertainty'
The company mining for gold in Argyll has warned it may face a “material uncertainty” that would cast a “significant doubt” over its ability to continue as a going concern in the “very immediate term”. Shares in Scotgold Resources plunged more than 60 per cent after the company revealed significantly less mineralised ore would be yielded from its Cononish mine near Tyndrum than initially envisaged.
- Read the full story
- Scotgold reports rising losses but ‘milestones’ achieved
- Scott Wright: Has Scottish gold mining dream lost its lustre?
Cambo oil giant Ithaca hits out at windfall tax
The Israeli-backed company which owns a majority stake in the controversial Cambo oilfield west of Shetland has warned the windfall tax on oil and gas industry profits threatens investment in the North Sea. Ithaca Energy declared that the Energy Profits Levy (EPL) has created “significant fiscal instability” since it was introduced last May and extended in November.
'Transformative year' as Wood awaits confirmation of takeover bid
The head of Aberdeen energy services company Wood has underscored his confidence in the company's strategy as the group waits to hear further about a possible takeover offer. Chief executive Ken Gilmartin said there is "good momentum" in the new financial year after Wood returned to revenue growth during the 12 months to the end of December, having cleared the decks of a number of legacy issues as well as turnkey projects that have damaged the bottom line in recent years.
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