Rosehaugh's redeveloper
Article Abstract:
Chartered accountant Nigel Turnbull inherited the challenging task of rehabilitating Rosehaugh PLC when he succeeded Geoffrey Bradman as the financially troubled property group's CEO. With his experience in mainstream finance and property dealing gained from such companies as Price Waterhouse, Lloyds and Scottish PLC, Fraser Ansbacher and Hunting Gate, Turnbull seems ready for the job. Rosehaugh is currently negotiating for the creation of a medium-term facility that would cover all banks, and is in the process of selling off all of its properties that have been completely developed or let.The London property group is concentrating on its three core activities: itsresidential land development business Pelham, longer-term development projects and its joint ventures with Stanhope. Turnbull will not say if he plans to stay at Rosehaugh after he has succeeded in revitalizing the company.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1992
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Proven mettle
Article Abstract:
Family-owned brass foundry Archibald Young continues to prosper at a time when other small and independent metal-bashing companies are increasingly disappearing. Current managing director Ian Young credits the company's staying power to his father's 'principles of frugality.' Founder Archibald Young always made it a point of not spending more than what his company has earned and passed this philosophy on to his son. Ian is averse to borrowing money even for financing the foundry's expansion plans. In Jul 1992, Archibald Young bought off two small foundries from a holding company and paid for them from the firm's retained income. Ian Young is set on maintaining his family's business traditions. He plans to continue his father's practice of putting back to the business what it has earned.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1992
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