SIGMA Capital, the investment firm backed by billionaire Scottish entrepreneur Sir Tom Hunter, narrowed its losses last year after buying an urban regeneration firm.
Sigma cut its pre-tax loss by 60 per cent to £1.42m after making a series of changes in 2011 and said it expects to benefit from potentially lucrative partnerships with Liverpool, Salford and Solihull councils this year.
David Sigsworth, chairman of Sigma, said: “Our three council partnerships, which hold potential development opportunities worth over £2bn in total, together with our involvement with the Winchburgh Development [in West Lothian, near Edinburgh], one of the UK’s single largest residential and mixed use developments with planning, worth an approximate £1bn, provide us with a significant opportunity to build revenues and profit.”
Sigma, in which Hunter has a 22 per cent stake, posted a 34 per cent rise in revenue from services last year to £2.47m. In August it bought Inpartnership, now known as Sigma Inpartnership.
Retail tycoon and philanthropist Hunter has built a fortune through his West Coast Capital vehicle. He has had interests in several high street names such as Office and USC.