WELCOME to the Manchester Evening News Business Review 2003, which offers an in-depth guide to how the regional economies and sectors in Greater Manchester have fared over the last 12 months.

Once again the M.E.N business pages have been packed with the comings and goings of our firms both large and small.

From the Granada and Carlton merger, where the storyline has been as intriguing and with more twists and turns than one of Granada's own prime time dramas, to the trouble and strife at the once mighty holiday firm MyTravel.

It has been a difficult year for some and there have been jobs lost as companies have fallen on hard times - notably The Accident Group which sacked more than 2,000 workers by text.

But the drive and determination, which is at the heart of the region's business community, has continued to shine through.

In this year's review - again sponsored by The Royal Bank of Scotland - we have revisited the boroughs featured in 2002 to see how the local economies are progressing. The resurgence at East Manchester - the host of the 2002 Commonwealth Games - has continued with gusto in a partnership spearheaded between the North West Development Agency and the city council.

The arrival of Concorde at Manchester Airport symbolised its supersonic ambitions but the continued effects of September 11 and war in Iraq hit profits, which fell 3.1 per cent to £60m in the year to March 31.

The group incurred exceptional costs of £14.3m, mostly in redundancy and compensation after axing 140 security posts and slashing the wages of 400 others.

One of the region's most high-profile business sectors, sport, has seen fevered speculation over the future of the world's biggest football club, Manchester United.

Rival Manchester City moved to a new home, while the region's many sports retailers were shown a red card by competition chiefs which fined them more than £20m for fixing prices of replica shirts.

On a corporate view, millionaire businessman Dave Whelan was thwarted in his attempt to buy back his JJB Sports empire, which he built from a single shop in his hometown of Wigan into a national giant of more than 400 stores.

Meanwhile Manchester's city centre's retail sector continued to go from strength-to-strength, with the long-awaited opening of the new Harvey Nichols store in August.

In the Business Review 2003 we have also included the Manchester Evening News/KPMG Top 100 Companies survey.

The four-page survey highlights the region's biggest companies and looks in focus at some of the most prominent players.

Finally I would like to thank all our contributors and sponsors.

If you would like to obtain further copies of this publication please write to me at the Manchester Evening News, 164 Deansgate, Manchester, M3 3RN or email business@men-news.co.uk.

Tweet