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Sales dip at Topps Tiles as CMA seeks to review CTD acquisition
Sales are down at Topps Tiles, the Leicester-based tile specialist, according to a new trading update for the 52-week period ended 28 September 2024.
Group sales for the year, excluding revenues from the assets acquired from the administrators of CTD, were approximately £248 million, a decline of 5.7% from the Group record high of £263 million reported in the previous year and broadly in line with the year ending September 2022.
Group sales in the fourth quarter were 4.4% lower, a slight improvement on the trends seen across the rest of the year, largely reflecting the weaker comparatives from the end of FY23.
Topps Tiles noted that the trading environment remained “very challenging across the whole year with continued weak demand in the domestic Repair, Maintenance and Improvement (RMI) sector, especially for bigger ticket projects.” Topps believes that the market has declined by 10-15% year-on year.
In August 2024, the business announced the acquisition of the CTD Tiles brand, certain assets, direct selling teams and 30 stores for £9 million. Following receipt of an initial information request from the Competition and Markets Authority, Topps has now been informed by the CMA that it intends to review the acquisition under UK merger control.
Rob Parker, Topps Group CEO, said: “We remain focused on the delivery of our new Mission 365 goal. In a year that has proved challenging in many ways, I am pleased by how well our teams have responded to the weaker market, demonstrating both our resilience and our ability to continue to outperform.
“I am also satisfied that despite these challenges we have been able to continue to deliver against our strategy and take opportunities as they have arisen, supported by our strong balance sheet.
“Looking ahead, macro-economic indicators point to a stronger market in 2025. While the timing and trajectory of the recovery remains hard to predict, we are confident that our clearly articulated and proven strategy will enable the further development of the Group in all market conditions.”
Work progresses to build new SEND school in Mansfield
Property professionals will gather tonight for the East Midlands Bricks Awards 2024!

Shortlist for the East Midlands Bricks Awards 2024
Architects of the Year – sponsored by Mather Jamie IMA Architects Design Haus Architecture Matthew Montague Architects Commercial Development of the Year – sponsored by Global HSE Group Brackley Property Developments – The Dock Extension, Leicester Pick Everard – Nottingham Central Library G F Tomlinson – The Air and Space Institute, Newark Contractor of the Year – sponsored by EMEC Ecology Cawarden Clegg Construction Winvic Deal of the Year – sponsored by Tutum Consulting heb Surveyors – The Oaks, Mansfield FI Real Estate Management – The Quad, Chesterfield Freeths – Former Boots factory site, Beeston Developer of the Year – sponsored by IMA Architects Vistry Group East Midlands Indurent Wavensmere Homes Excellence in Design – sponsored by Cawarden G F Tomlinson – The Air and Space Institute, Newark Design Haus – Musters Road Distinctive Developments – Woodwell and Meadow Barn Most Active Agent – sponsored by Roy Geddes Bricks Rigby & Co FHP Property Consultants Salloway Property Consultants Residential Development of the Year – sponsored by Devello Distinctive Developments – Woodwell and Meadow Barn Phoenix Brickwork UK LTD – IQ Nelson Court Chevin Homes – Chevin Close Responsible Business – sponsored by Press for Attention PR Stepnell Ltd Cawarden Cora Sustainable Development of the Year – sponsored by Viridis Building Services Ltd CPMG – Sir Peter Rubin Centre for Veterinary Education Henry Brothers Construction Ltd – Alfreton Park School Keepmoat – Gedling Green The Overall Winner, sponsored by Blueprint Interiors, will also be announced at the ceremony, who will be awarded a year of marketing/publicity with Business Link worth £20,000.






To be held at:

Nottingham-based data driven technology company secures £2.2m
Maven has led a £2.2 million funding round in Nottingham-based data driven technology company, Connected Data. Connected Data, founded by former Experian and TDX executive Kirk Fletcher, was established to revolutionise the way debt is managed by organisations across various industries, including utilities, financial services, local government and debt management services. Connected Data’s cloud-based data services blend the latest business intelligence, analytics and AI with the widest range of predictive data solutions to transform the entire debt management process.
Its services help organisations reduce, resolve and prevent debt with minimal internal resource impact as well as enabling clients to meet evolving consumer protection regulations, paving the way for fairer, more positive outcomes for consumers in debt. Since its inception in 2020, Connected Data has grown rapidly, with revenues increasing eightfold between 2022 and 2024.
Alexander Sleigh, Investment Director at Maven, said: “Connected Data’s service addresses a critical challenge for utility and financial services companies. With the cost of living crisis driving household debt to new heights, and stricter guidelines like the FCA’s Consumer Duty coming into play, companies are under increasing pressure to refine their debt collection processes. “Connected Data has already proven its value for clients by reducing the time, cost, and complexity of debt management while increasing confidence in data accuracy and recovery rates. We are excited to work with Kirk and his team to further scale the business and explore new growth opportunities.” Kirk Fletcher, CEO at Connected Data, said: “Across all sectors, organisations are facing increased pressure on their debt management processes. Our unique approach, our data partnerships and our range of configurable data services has enabled the organisations we work with to truly transform their debt management process to become more effective without the need for significant capital investment or long extended delivery times.“This investment will enable us to further drive our transformation of the debt management process. We are hugely excited by the impact this will have on our customers, our data partners and, ultimately, consumers in debt.”