Connect with us

Hurricane cuts profit at UPC insurance

United Insurance Holdings Corp. (Nasdaq: UIHC) posted net income of $290,000 for 2018, a 97 percent drop from 2017. Hurricane Michael and other catastrophic events cut profits at the St. Petersburg-based property and casualty insurer. Revenue was up 10.6 percent to $723.9 million.

Report: Triad losing major customer

In what Ad Age is calling a “huge blow” to St. Pete-based digital marketer Triad, Walmart will take over its own website ad sales and analytics. Walmart accounted for “the bulk” of Triad’s work, the report said. A spokesman for Triad declined to comment.  Triad last week rebranded and said it would add services, including consulting.

Peerfit expands into Medicare

Peerfit will roll out Peerfit Move, a new benefit for Medicare Advantage plan members, next year. Luisa Charbonneau will join as senior advisor to lead the expansion. The Tampa company historically has connected employers and their employees to fitness studios and gyms.  

Catalina emerges from bankruptcy

Catalina completed its financial restructuring and emerged from Chapter 11. Through the process, which started in December, the St. Petersburg digital marketer cut its debt by 85 percent. The company has new ownership made up of its existing lenders.

Masonite shutters Largo plant

Masonite will close its plant at 11200 69th St. N. in Largo. The Tampa-based door manufacturer told state officials 35 employees would lose their jobs, starting April 16. The company, which had increased sales and declining profits in 2018, said it is simplifying its network for door plants.  

Masonite sales up, profit down

Masonite (NYSE: DOOR) had $2.17 billion in sales for 2018, up 7 percent from 2017. Net income for 2018 was $92.7 million, or $3.33 a share, down from $151.7 million, or $5.09 a share, in 2017. The Tampa door manufacturer is closing its Largo plant and said it plans more restructuring in 2019.

Small business gender gap

Female-owned small businesses in Tampa-St. Pete post first-year revenue of about $50,000, compared to more than $60,000 in first-year revenue at  male-owned small businesses. The revenue gap is smaller here than in most similar metros, a study by the JPMorgan Chase Institute found.

St. Pete firm expands

US Federal Contractor Registration is moving to 9400 4th Street N., next to its current location. The company, which helps businesses win government contracts, also plan on nearly doubling its staff, from 43 to over 80 by the end of the year.

WellCare hits Florida milestone

WellCare Health Plans said its WellCare of Florida subsidiary has surpassed 1 million members in Florida. Growth primarily is a result of WellCare expanding Medicaid services the state through Medicaid managed care and children’s medical services.

Locale Market closed due to health violation

A staple of Sundial, Locale Market, was closed Thursday night and Friday due to "high priority" health department violations. FarmTable Cucina was also inspected Thursday, but met health department standards and remains open. 

Castor: MacDill could be impacted by Trump action

The $3.1 million appropriated for flight simulator training at MacDill Air Force Base could be impacted by President Trump’s emergency declaration, said Rep. Kathy Castor. The Tampa democrat said it’s part of the $3.6 billion Trump plans to use to build a wall on the southern border.

29th Street Capital makes first Tampa Bay buy

29th Street Capital bought Calais Park Lofts Apartments, a 261-unit multifamily community in St. Petersburg. The real estate investment firm did not disclose a purchase price. It’s 29th Street Capital’s first area acquisition.

The St. Pete Catalyst

The Catalyst honors its name by aggregating & curating the sparks that propel the St Pete engine.  It is a modern news platform, powered by community sourced content and augmented with directed coverage.  Bring your news, your perspective and your spark to the St Pete Catalyst and take your seat at the table.

Email us:

Subscribe for Free