Talks aimed at setting new pay levels for Land Rover's 8,000-strong workforce have ended successfully.

Several days of off-site negotiations between senior managers and union officials have ended with an agreed offer.

Details of the offer are being kept under wraps until they can presented to shop stewards at Lode Lane on Monday, a company spokesman.

"It will then go to the workforce who will be asked to ballot on whether or not to accept the offer over the next few weeks," a Land Rover spokesman said.

"The company is pleased that the negotiations with the unions came to a successful conclusion on Thursday night."

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Engineering and environmental consultancy Waterman Group has revealed a 56 per cent increase in pretax profits.

And managing director Bob Campbell said the business was optimistic for further progress and fresh contracts across the West Midlands.

The London-based company reported earnings up 56 per cent to #3.13 million in the year to June 30 from #2.01 million last year.

Revenue was #72.6 million against #65 million last year.

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Tough trading conditions have hit Midlands carpet firm Victoria with full-year profits likely to be "significantly lower" than current market expectations.

The Kidderminster business said in a trading update that it aimed to maintain the level of its annual dividend.

Interim results were expected to show a small increase over the same period last year.

The company said: "In the light of current trading conditions and the lack of any visible upturn in market prospects, the directors are now taking a more cautious view of the outlook for the remainder of the financial year."

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Sainsbury's recovery looked to be back on track yesterday after the supermarket group reported a third consecutive quarter of like-for-like sales growth.

The group - the UK's third largest supermarket chain - said same-store sales including fuel rose 4.1 per cent in the 16 weeks to October 8, including an estimated figure for the current week.

Excluding fuel, like-for-like sales were up 2.8 per cent, about one percentage point over background market growth. Total group sales including new space increased by 6.6 per cent in the quarter.

"That's the biggest rise in quite a while, probably the biggest since 2001. It's a very strong figure in the context of quite a weak market," said chief executive Justin King.

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Bingo hall and casino operator Gala has created a #4 billion gaming giant by acquiring bookmaker Coral Eurobet.

Gala unveiled a #2.18 billion deal that adds the 1,267 betting shops of Coral to its existing business of 167 bingo clubs and 30 casinos.

Preparations for a flotation of Coral had been in motion since the start of this year, but a spate of reports recently suggested a trade sale was the more likely move.

The enlarged company will employ 17,000 staff and have more than 2.2 million customers.

"The deal creates Europe's pre-eminent integrated betting and gaming company," Gala said in a statement.

See Saturday's Post for more on these stories