Edinburgh International Conference Centre chief quits: 5 need-to-know business stories

Hello and welcome to our daily digest of business, financial and economic news from around Scotland.

1. The chief executive of the Edinburgh International Conference Centre is to step down after a decade in charge.

Marshall Dallas was said to have told the board of the group, which is owned by City of Edinburgh council but operates independently, of his decision earlier this week and will formally leave in the middle of next year.

Dallas has been among the highest-paid bosses in the Scottish public sector, with EICC’s 2023 accounts noting remuneration of £220,960 as well as £19,441 of pension contributions.

He was unhappy earlier this year after a long-mooted 350-bed Hyatt hotel at Haymarket, which EICC was going to run, stalled amid a contractual dispute between the local council and developers.

EICC booked record revenue of £12.8 million and a profit of £2.6 million for 2023. Dallas said leading the organisation since 2014 had been the “highlight of my career”.

2. A housebuilder is moving forward with new affordable rental homes on Shetland following backing from the Scottish National Investment Bank.

DITT Construction is getting a £730,000 loan to support the project for six one-bedroom units which are going to be targeted at young professionals and key workers in Lerwick.

Once completed, the homes are to be purchased by Shetland Island council then rented out.

Peter Tait, the managing director of the employee-owned DITT, hopes to build many more rental homes and said: “We are haemorrhaging talent and opportunity in Shetland due in part to the lack of affordable places for workers and young people to live.

“We know all too well the housing challenges workers face, and we are committed to being part of the solution and bringing tangible benefits to our community.”

3. A provider of survey and inspection services for the offshore energy sector has received £15 million of backing from Business Growth Fund.

Sulmara, which has its headquarters in Glasgow, plans to use the money to invest in new technology such as autonomous-surface and underwater vessels. The business already operates around the world with offices in the United States, Singapore and Taiwan.

Kevin McBarron, the Sulmara founder and chief executive, said the backing from BGF was “a vote of confidence” in the company’s growth strategy.

4. Packaging specialist Macfarlane Group has said revenue is down 4 per cent year-on-year as it continues to see weaker volumes and pricing trends.

The Glasgow firm said it had managed to partially offset the tougher trading backdrop by bringing in new customers, trimming costs and through the two acquisitions it has made this year.

It remains on the hunt for more deals, stating that it has a “strong pipeline” of potential targets. National insurance and minimum wage hikes are forecast to increase costs by £1.5 million from April next year.

Aleen Gulvanessian, the chairwoman of Macfarlane, said: “The management team is responding effectively to the market headwinds.”

5. A firm making devices to more quickly diagnose disease in dairy cows has received £2.3 million in new funding.

Biotangents is to start trials of the diagnostic device on farms next year. It believes that can help save costs for the agricultural sector by reducing the need for antibiotic treatments while also improving the productivity and health of herds.

Farmers can get a diagnostic analysis of animal health within two hours with the data sent to their phone. The investment round involved Eos, British Business Investments, Kelvin Capital and Scottish Enterprise.

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