This marks the business’s second major investment of the year, following the relocation of the MIDFIX HQ to Power Park.
The acquisition brings together a combined 110 years of expertise.
Adrian Fowler, Managing Director of MIDFIX, said: “This is an exciting moment for both companies. By combining our strengths, we are not only expanding our capabilities but also reinforcing our commitment to advancing the people and industries we serve.
“We look forward to building on the solid foundations of both businesses to deliver even greater value to our customers.”
David Tottman, Director of Hobby Homes, said: “It is essential that businesses operating within the construction industry whether they are manufacturers, suppliers or contractors, maintain a steady and continual direction of improvement and development.
“Over the past few years, we as a company have been searching for solutions to the increased demands from our customers and I am delighted to say that joining forces with MIDFIX and the vast array of resources and products that they have to offer will not only fulfill these demands but lead to an exciting future not only for us but also our many customers.”
Both companies will continue to operate independently over the next 12 months.
Nottingham construction sector supplier follows relocation with acquisition of London business
Nottingham-based construction sector supplier MIDFIX, has acquired Hobby Homes, a long-established supplier of fixings, cable management, and supports based in London.
Higher than expected revenue rise for Mortgage Advice Bureau
Mortgage Advice Bureau (MAB) has hailed a higher than expected rise in revenue in a trading update for 2024.
Group revenue increased by 11% to £266m, beating an estimated 4% growth. Adjusted profit before tax for the year, meanwhile, is expected to grow 31% to £30.5m.
MAB’s number of mainstream advisers grew modestly in the second half, increasing to 1,941 at the year-end (1,918 in 2023). Lower than expected growth in adviser numbers was offset by a significant rise in productivity. The average revenue per mainstream adviser grew 12% to £138k.
Peter Brodnicki, CEO of Derby-based MAB, said: “Despite two challenging years in terms of UK mortgage volumes, I am very pleased with how MAB has performed. We have increased strategic spend over this period and are starting to see the benefits of this come through in the positive momentum we’re building.
“We expect purchase transactions to steadily increase over the next year, whilst several years of strong refinancing transactions will provide additional opportunities for growth.
“We are seeing increased optimism among many of our ARs, and as a result, expect to see organic growth in adviser numbers start to return in a more meaningful way. Following a slower period in terms of new AR recruitment, we plan to onboard more firms this year while continuing to explore value-accretive acquisitions.
“The step up in productivity in 2024 has been very pleasing, so our focus for this year is on maintaining that momentum, supported by development in technology and AI, and our continued focus on lead generation.”
Millions face £100 fine for late filing of tax returns
More than three million people are running the risk of a £100 for failing to file their 2023 to 2024 tax return before the deadline of January 31st.
Myrtle Lloyd, HMRC’s Director General for Customer Services, said: “Time is running out for the millions still to file their Self Assessment tax return by 31 January. Help and support is available for those who have not yet started their return. Visit GOV.UK and search ‘Self Assessment’ to find out more.”
She emphasised the importance of including bank details as part of their tax return to ensure that if there is any repayment due, it can be done quickly and securely, adding that customers’ reasons for not paying their tax bill or arranging a payment plan by the deadline would be considered individually. While customers who provide HMRC with a reasonable excuse may avoid a penalty, those without reasonable excuse face will be issued with a penalty including:
- an initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time
- after 3 months, additional daily penalties of £10 per day, up to a maximum of £900
- after 6 months, a further penalty of 5% of the tax due or £300, whichever is greater
- after 12 months, another 5% or £300 charge, whichever is greater
Revenue rises at Chesterfield packaging manufacturer
Revenue is on the rise at Robinson plc, the custom manufacturer of plastic and paperboard packaging based in Chesterfield.
According to a trading statement for the year ended 31 December 2024, revenue is anticipated to be £56.5m, which is 14% ahead of the prior year. After adjusting for price changes and foreign exchange, sales volumes are also 14% higher than in 2023.
Meanwhile, 2024 operating profit before exceptional items and amortisation of intangible assets is expected to be significantly ahead of 2023, and moderately ahead of current market expectations.
Looking ahead, the business expects revenue and operating profit for the 2025 financial year to be ahead of 2024.
EBITDA and revenue slip at Forterra
Forterra, the manufacturer of clay and concrete building products, is remaining positive, despite a slide in EBITDA and revenue in 2024.
According to a trading update for the year ended 31 December 2024, the Northamptonshire business saw a modest improvement in trading conditions in the final months of the year, with despatches remaining resilient in the run up to Christmas when there is often a more pronounced slowdown.
Full year revenue was slightly below the prior year at £345m (in comparison to £346.4m in 2023), with a double digit increase in second half revenue relative to both the prior year and the first half of 2024. Forterra noted it had benefited from volume gains in some of its concrete products with brick volumes flat year on year. The business added: “We have continued to maintain pricing discipline with selling prices remaining relatively stable across our product range.”
Adjusted EBITDA, meanwhile, is expected to be around £50m, down from £58.1m in 2023.
Looking ahead, the business told the London Stock Exchange: “Whilst we now see signs of modest improvement in our markets, recent heightened macro-economic uncertainty dictates that the timing and trajectory of the recovery remains uncertain.“We continue to take encouragement from the Government’s ambition to materially increase housebuilding but remain wary of the challenges in delivering this. We look forward to the Government considering wider levers to stimulate both supply and demand for new housing and in the short term we are watchful as to any impacts arising from the changes to Stamp Duty on 1 April 2025 which will influence housing affordability.
“We continue to anticipate modest levels of cost inflation heading into 2025, including Employers’ National Insurance contributions as outlined in the Autumn Budget. We have secured around 85% of our energy requirements for 2025 and have good levels of coverage for 2026 and 2027. To mitigate cost increases we have announced selling price increases for 2025 with customer discussions continuing.
“The Group remains well placed to capitalise on a recovering market with our £140m programme of strategic investment in our facilities at Desford, Wilnecote and Accrington nearing completion and providing a 15% increase in brick manufacturing capacity and improved efficiency relative to the previous cycle.”
Team17 CEO “delighted” with “strong end” to 2024
Results are ahead of expectations at Team17 Group, the games developer with offices in Wakefield, Nottingham, and Manchester.
In a new trading update for the twelve months ended 31 December 2024, the business noted it had continued to trade well in the second half of the year, driven by an “improved” performance from new releases and “another excellent” performance in the back catalogue across the group. The Christmas period also saw strong trading, with this momentum continuing into January. As a result, Team17 expects to deliver 2024 revenues and adjusted EBITDA slightly ahead of market expectations. The business has also announced a rebrand of the company to everplay group plc, “reflecting the evolution of the business following its IPO in 2018.”Steve Bell, Chief Executive Officer, said: “I am delighted with the strong end to the year’s trading, and the momentum into 2025, which is further evidence of the success of our refocused strategic initiatives.
“I am grateful for the dedication of all our employees, whose continuing hard work has helped grow our revenues in 2024 to another all-time high. I look forward to sharing greater insight into our exciting plans for 2025 at the full year results in March.
“I am also excited to be unveiling our new Group brand today, which we believe better represents our business which has evolved greatly since the IPO and reflects our DNA to never stop playing.
“This rebrand not only creates an ideal backdrop to foster greater cross-collaboration internally, but also reflects our aspirations to expand our reach across complementary sectors within the broader indie market.
“Fundamentally, we want to create pioneering and captivating experiences that enrich and inspire players around the world, and I firmly believe everplay will become synonymous with creating games that deliver a lifetime of play.”
2025 Business Predictions: Leadership Development specialist Penny Strutton
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Leadership Development specialist Penny Strutton.
The Future of Leadership in the Age of AI: Predictions for 2025
The world of leadership is on the brink of transformation, driven by the relentless march of Artificial Intelligence (AI). By 2025, the very essence of what it means to lead will evolve, with AI becoming an indispensable partner in decision-making, team engagement, and innovation. Here’s how AI is reshaping the leadership landscape—and what’s next for those at the helm.
Smarter, Faster Decisions
Imagine a world where leaders no longer rely on instinct alone. AI tools are already delivering real-time insights into market trends, customer behaviours, and team performance. By 2025, these tools will become even more sophisticated, simulating scenarios and predicting outcomes with remarkable precision. The result? Leaders who can navigate risks and seize opportunities with confidence and clarity.
AI also promises to tackle unconscious bias, offering data-driven recommendations that are both fair and transparent. For teams, this means better decisions, built on trust and inclusivity.
Leadership Tailored to Individuals
Gone are the days of one-size-fits-all leadership. With AI, leaders can now create bespoke strategies for every team member. Picture tools that:
- Identify individual strengths and weaknesses.
- Suggest tailored development plans.
- Monitor morale and flag potential issues before they arise.
- AI Literacy: Understanding what AI can (and can’t) do.
- Emotional Intelligence: Maintaining authentic connections with people.
- Ethical Stewardship: Ensuring AI serves inclusive, human-centred goals.
2025 Business Predictions: Matthew Gregory, Education Director at The Protocol Group
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Matthew Gregory, Education Director at The Protocol Group.
The Office for National Statistics (ONS) has recently published its latest labour market statistics. Between September and November 2024, the number of job vacancies in the UK fell by 31,000 to 818,000. This can be attributed to the added financial burden placed on employers in the recent Budget.
Economic forecast
However, the UK economy has shown resilience, with GDP projected to grow by up to 1.4% in 2025. This will provide a more predictable environment for businesses and could encourage investment and expansion, which in turn will create jobs.
AI-driven Recruitment
Employers will rely more on AI and HR technology for hiring, such as automated screening, AI interviews, and predictive analytics to identify the best candidates. This will streamline processes but may also raise concerns about bias and transparency.
Shifts in Candidate Expectations
The hybrid/remote work trend will remain strong, with job seekers expecting flexible working options. Employers who do not offer such models may struggle to attract top talent.
Wage growth continues to outpace inflation. Competitive salaries, bonuses, and work-life balance policies will become decisive factors in attracting talent.
Candidates are increasingly prioritizing personal growth, pushing employers to provide better upskilling, learning opportunities, and career pathways.
Loughborough tech start-up secures £200k investment
A final-year undergraduate student at Loughborough University has secured a £200k investment for his start-up company, BidScript, a business co-founded with his childhood friend.
BidScript is a software business, focused on transforming organisations’ proposal management and work-winning functions. Their software application provides intelligent workflows and intuitive automations, offering not only productivity and cost-saving benefits but also tools to enhance the quality of user submissions.
The tech start-up secured a £200k investment after taking part in PraeSeed by Praetura Ventures, a six-week cohort-based investment programme for early-stage businesses, supported by Northern Powerhouse Investment Fund (NPIF II) and British Business Bank.
Henry Brogan, currently studying Business, Economics and Finance at Loughborough University, co-founded the company in October 2023 with his childhood friend, Tyler McCarthy.
Henry said: “My co-founder Tyler and I have known each other since we were 12 years old. We went to the same high school, did the same GCSEs, went to the same college, and did the same A-levels. He is now at Manchester Metropolitan University, studying computer science and excelling as a software engineer.
“In October 2023, after half a year of consultancy work (knowing that businesses were struggling with their data management and we were on the brink of technological evolution), Tyler and I came across the bid/proposal management function and soon realise that it was causing trouble for organisations of all sizes, especially in the middle market.
“We jumped in with both feet and didn’t look back. I still remember incorporating the business from my Butler Court dorm room, where I did a lot of my preliminary work, before receiving support from LUinc.”
LUinc. is a part of the Loughborough Enterprise Network (LEN), which brings together support for entrepreneurial students across the University, enabling founders to develop skills, test ideas and setup and scale businesses.
Today, BidScript’s software is being used across three continents by organisations of varying sizes, operating in a variety of sectors.
Following the PraeSeed programme, BidScript plans to use the funding to secure a number of commercial agreements with businesses in its pipeline that are keen to tackle the resource-intensive tendering process using BidScript’s innovative technology.
BidScript is also a part of the Microsoft Founders Hub where they unlocked a sponsorship of $25,000 in Microsoft Azure credits with the potential for upwards of $150,000. Additionally, they recently exhibited and spoke at the 2024 WebSummit in Lisbon, funded by the LEN Start-up Fund.
Henry shared some advice for aspiring entrepreneurs: “Validate your idea, you may be solving a problem, but will someone pay for it? And how much?
“They’re the tellers of whether you’re onto something – unless you’re creating your own market like Uber, or AirBnB. Talk to your customers, validate your idea, get your product in their hands, collect feedback, and iterate. Move fast.
“Niche down and then scale up. Master a vertical and then go horizontally. The reality of start-up life is that it’s not easy or glamorous, you have to live and breathe your work.
“However, it is one of the most rewarding, enjoyable, and insightful jobs you can do. If you can become creative and disciplined in a domain of your interest, there are a breadth of opportunities and problems to tackle.”
Visitors spend £10m at Nottingham’s historic Goose Fair
Nottingham City Council has revealed that visitors spent an estimated £10m at Nottingham’s historic Goose Fair in autumn 2024. The ten-day event was held at the Forest Recreation Ground from Friday 27 September to Sunday 6 October last year.
Despite the tram strike on the first day of the fair, and torrential rain mid-week, Goose Fair welcomed 493,200 visitors across the ten days. Saturday 5 October was the busiest day, with fine weather attracting 110,442 people to the event. On average each person spent approximately £20 during their visit.
In a post-event visitor survey, attendees were asked about their spending at the fair. It is estimated that £1.2m was spent on transport, £2.9m on food and drink, and £5.9m on rides and attractions.
This generated a significant economic uplift for the city, bringing more local and regional visitors to the area and increasing transport usage across Nottingham. Data shows that 72% of attendees were from Nottinghamshire, and 28% were visitors from the rest of the East Midlands and further afield.
Since 2022 Goose Fair has been held over ten days. Approximately 100,000 more visitors have attended the fair each year since the last five-day event in 2019. Discussions are continuing between the Council and the Showmen’s Guild for a decision on the 2025 event.
Cllr Sam Lux, Executive Member for Carbon Reduction, Leisure and Culture at Nottingham City Council, said: “Goose Fair’s visitor spend not only highlights its status as a major regional event but also brings a substantial economic uplift to the city.
“With its extended ten-day duration, the fair allows us to welcome even more visitors, driving growth in tourism, local businesses, and the wider economy. We are looking forward to working with the Showmen’s Guild again for another successful event in 2025.”
William Percival, Chair of the Showmen’s Guild (Nottinghamshire & Derbyshire branch), said: “The Showmen’s Guild and the Council is in agreement that last year’s Goose Fair was a success once again. A ten-day fair is more viable as four days were affected due to rain, and the first day was restricted by the tram strike.
“The work we’re doing with the Council will improve the famous fair for everyone – the public, the Council, and the showmen.”
