Notice: The Chamber's documentation and customs declaration services announce festive opening hours. Click here to view.

Here are the top business stories making the headlines in the morning newspapers.

Pandemic slashes turnover at Aberdeen amusement park

The family owners of Aberdeen's Codona's Amusement Park have admitted their disappointment as it suffered a slump in turnover of nearly £4.5million due to Covid.

The Press and Journal reports that the famous funfair's most recent financial accounts filed at Companies House showed turnover fell from £5.95million in the year ending January 2020 to £1.6million in the year ending January 2021.

A statement signed on behalf of the board said: "The directors are disappointed with the results for the year which reflect the significant impact on trading due to the restrictions arising from Covid-19.

"Post the lifting of restrictions and reopening of facilities in April 2021, trading has been profitable."

The average monthly number of employees, including directors, during the year was 112 - down from 170 in 2020.

Warning from Tesco chairman on food prices

The chairman of Britain's biggest supermarket has warned "the worst is yet to come" on rising food prices.

Tesco's John Allan told the BBC he was aware people were on very tight budgets and having to choose between food and heating "troubles us".

But he said grocers and suppliers were not immune from rising energy costs. Mr Allan also defended Tesco against claims from food-poverty activist Jack Monroe that the costs of basic staples were rising faster than other goods.

He estimated supermarket prices could rise as much as 5% by the spring as energy and other costs feed through to the High Street, adding that Tesco's food price inflation in the last three months had been contained to about 1%.

Aberdeen entrepreneur is a 'wonder woman'

Jeanette Forbes, of Aberdeen, has been identified as one of the UK's most inspirational business leaders in a new book.

Wonder Women: Redefining leadership in the world of work is the first book by businesswomen's network She2 Leadership.

It shares the stories of 45 high-achieving businesswomen from throughout the UK who describe their career journeys, writing about what inspired them and how they became business leaders.

The Press and Journal says that Ms Forbes, who was made an OBE in 2020 for her services to business, technology, and charity, founded Aberdeen-based information technology company PCL Group in 2000.

In 2017 Ms Forbes started her second business, Aberdeen wine bar Grape & Grain.

She now holds senior management positions in two other young companies. She is chief executive of Blue Gentoo and a director of OMMICA, both of which are involved in developing products and services for the energy technology sector.

Paper-shortage problem for abrdn

The investment group abrdn has become the latest company to fall victim to problems in global supply chains after a dearth of paper caused a delay to the investor vote on its £1.5billion takeover of Interactive Investor.

The Times reports the company has faced problems securing enough paper to post a circular to its more than a million shareholders before their vote on its planned purchase of the do-it-yourself investment platform, which is controlled by the private equity firm JC Flowers.

Abrdn will send the paperwork this week, which is about two weeks later than it had planned.

The group had aimed to hold the vote on the acquisition before the publication of its results on March 1, but the delay to the circular has meant that the ballot has had to be pushed back. It will now take place in the middle of March.

Abrdn was formed following the 2017 merger of Aberdeen Asset Management and Standard Life.

Disruptions to supply chains around the world have caused problems for companies across a host of industries. Car manufacturers have been hit by a shortage of semiconductor chips, which are used throughout vehicles, and there have been gaps on shelves in supermarkets.

Scottish Energy Secretary warns about impact of higher energy prices

The Scottish Government's Energy Secretary has said there is a "real risk that lives could be lost" as a result of the hike in energy prices.

Michael Matheson told the BBC's The Sunday Show that the action proposed by the UK Government was wholly inadequate to deal with the scale of the financial crisis facing many households.

UK Energy Minister Greg Hands said the UK Government was providing support.

The Bank of England has issued a warning that rising prices meant the UK was about to endure the biggest fall in living standards since comparable records began three decades ago.

It comes as inflation is on course to rise above 7% this year, leaving households facing the biggest income squeeze in decades.

More like this…

View all