Record first half revenues for Topps Tiles

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Record first half revenues for Topps Tiles

Topps Tiles, the Leicester-based tile specialist, has reported record first half turnover.

According to unaudited consolidated interim financial results for the 26 weeks ended 2 April 2022, turnover reached £119 million, compared to £103 million in H1 2021.

Meanwhile the company recorded a pre-tax profit of £5.6 million, up from £4 million. Topps noted that like-for-like sales are up 22.7% on a two-year basis in the first half, and up 19.7% on a one-year basis.

Rob Parker, Chief Executive, said: “The group has delivered record first half revenues against a backdrop of continued robust demand for home improvements. While supply chain and inflation headwinds strengthened in the period, we are managing these challenges effectively overall and believe we remain well positioned relative to many of our competitors.

“We have continued to develop the Topps Tiles brand, enhancing our store portfolio and introducing a number of new developments to our award-winning website to further strengthen our omni-channel capability.

“We are pleased to announce the launch of Tile Warehouse, a new online-only brand which brings everyday low prices to homeowners. This builds on the acquisition of Pro Tiler Ltd in March and forms the basis for a new, high growth, online-only sales channel, leveraging our core strengths in product, service and scale.

“Looking ahead, we are mindful of the growing burden on consumers from inflation and rising interest rates as well as ongoing supply chain challenges, however, we remain confident in our strategy and medium term growth prospects.”

Pride Park office investment sold

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Pride Park office investment sold
FHP Property Consultants have sold a self-contained office building on Pride Park, Derby, which it says shows “there is still great demand to purchase good quality well let buildings.” 1 Pride Point Drive is let to two tenants occupying a total space of 557m2 (5,995ft2). The building produces an income of £75,750 per annum and has been sold to private investment clients for £855,000, reflecting a net initial yield of approximately 8.42% net of costs. Darran Severn of FHP Property Consultants said: “The office market has been particularly active in recent months and this is one of several office buildings we have sold on Pride Park. “There is good demand to purchase both vacant and occupied buildings. As availability decreases I see capital values beginning to rise.”

Belvoir acquires mortgage advice firm for £3.6m

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Belvoir acquires mortgage advice firm for £3.6m
Belvoir Group, the property franchise and financial services group with its central office in Grantham, has acquired The TIME Group Limited (TIME) for an initial cash consideration of £3,673,000. TIME, which trades as the Mortgage Advice Bureau, is an appointed representative firm of Mortgage Advice Bureau, the wholly owned subsidiary of AIM-listed Mortgage Advice Bureau (Holdings) plc (MAB), one of the UK’s leading networks for mortgage intermediaries. TIME provides mortgage and related financial services to clients through its network of 64 advisers, all but two of which are either self-employed or small businesses operating on a self-employed basis licensed to TIME with MAB providing training, support, compliance, website and national marketing via the wider MAB brand. The TIME adviser network extends across the north of England and the Midlands. For the year ended 31 July 2021, based on unaudited financial statements, TIME generated revenue of £4,182,000 and adjusted profit before tax of £630,000. Within the past three years, the number of mortgage advisers within the TIME network has grown from 46 to 64. Dorian Gonsalves, Chief Executive Officer, Belvoir, said: “We are delighted to announce the acquisition of TIME, whose network of 64 mortgage advisers will entirely complement our existing financial services network, both in terms of the management infrastructure and geography, creating a total of 307 advisers operating under the Belvoir Group. “The acquisition of TIME will extend our network of financial advisers to support both our franchisees at a local level, as well as servicing leads from independent agents. This will in turn achieve greater penetration of financial services to the group’s client base for the benefit of both individual franchisees and the group as a whole. “We would like to extend a warm welcome to the team at TIME to the Belvoir Group.”

NICs increase has immediate impact on businesses

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NICs increase has immediate impact on businesses
Research carried out by the British Chambers of Commerce (BCC), of more than 1,100 UK employers, has uncovered a series of negative impacts from the increase in National Insurance contributions. Firms said the rise in employer contributions to National Insurance (NI) from 13.8% to 15.05% had increased staffing costs, forced some to put up their prices, and meant they would be limiting their investment. As part of its call for an Emergency Budget, the BCC is calling for the rise to be immediately reversed for at least a year, as firms battle surging costs on multiple fronts. The BCC is calling for action to give businesses a chance to keep a lid on rising prices, boost productivity and ease cost pressures. Hannah Essex, co-executive director of the BCC, said: “Businesses are telling us that the rise in National Insurance contributions has been a body blow as they try to get back on their feet. “When firms are already facing a toxic mix of surging inflation, rising energy costs and supply chain disruption, this increase is very hard to swallow. “The tight labour market is already pushing up staff costs and the NI rise has only served to exacerbate that pressure, without having a positive impact on recruitment. “With firms’ profits also taking a further hit, after two years of the pandemic, it is no surprise that their investment intentions are also weakening. “But it is not too late to change tack and push the increase back until firms are in a better place to take on the extra burden. “The costs crises facing firms and people in the street are two sides of the same coin. If we can ease the pressure on businesses, then they can keep a lid on the price rises. “Acting now will also put businesses in a better position to create the future profits needed to fill tax coffers.” The other two Emergency Budget proposals include: • Help firms manage the impact of rising energy prices by cutting VAT on their energy bills from 20% to 5% for a minimum of one year. • Address labour shortages by reinstating free Covid tests for companies to ease the strain on productivity caused by persistent high absences.

Nomination categories in detail: The East Midlands Bricks Awards 2022

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Nomination categories in detail: The East Midlands Bricks Awards 2022
If you haven’t made your entries for the East Midlands Bricks Awards 2022 yet, now is the perfect time to do so! Here we go through each category’s criteria – which can also be found with nomination forms here. Winners will be announced at a glittering awards ceremony and networking event on Thursday 15 September at the Trent Bridge Cricket Ground, in the Derek Randall Suite. The evening, which will run from 4:30pm – 7:30pm, will also feature John Forkin MBE DL, Managing Director at award-winning investment promotion agency Marketing Derby, as keynote speaker. Tickets can be booked here – secure your place now to avoid disappointment.  
Most active estate agents of the year
Sponsored by: Blueprint Interiors The winner of this category will be the estate agents who has had the biggest impact on the commercial property sector over the last 12 months, whether that be in deals done, quality of any given deal, or excellent customer service.
Developer of the year
Sponsored by: Ward The winner of this category will be the developer that has truly pushed the limit over the last 12 months. Their scheme(s) will have shown to not only be a success, but that there was true demand for them. The winning developer will have displayed courage in a tough market to deliver award winning results. There is no size limit, but schemes must have been completed over the last 12 months.
Architects of the year
Sponsored by: OMS The winner of this award will be the architects who have had the greatest impact on the region, be it in a single development or a series of them. Originality, the ability to rise to a challenge or initiative shown in accomplishing a difficult brief, this award celebrates our architects. Schemes must have been completed over the last 12 months.
Contractor of the year
Sponsored by: RammSanderson Celebrating the contractors who work on the project, this award celebrates builders, construction companies and the contractors themselves, and nominees should be those who have gone above and beyond the word of the contract to deliver a truly exceptional service. Contracts must have been within the last 12 months.
Deal of the year
Sponsored by: Blythin & Brown Insurance Brokers The winner of this category will be the deal that has truly pushed the boundaries over the last 12 months – from jobs created to complexity, size and scale. However, that’s not to say the biggest deal will automatically win; the deal which has had most impact in the East Midlands is what we’re looking for. The winning deal will have displayed courage in a tough market to deliver a great outcome for all concerned. Deal must have been completed over the last 12 months.
Commercial development of the year
Sponsored by: Frank Key The winner of this category will be the commercial development that has gone above and beyond in fulfilling the criteria of the build, in terms of design and construction. This can include special requirements, features or elements that make the commercial development stand out from the crowd.
Residential development of the year
Sponsored by: Sterling Commercial Finance The winner of this category will be the scheme that has displayed a true commitment to providing much-needed housing in the East Midlands. There is no size limit, but schemes must have been completed over the last 12 months.
Sustainable development of the year
Sponsored by: Viridis Building Services The winner of this category will be the scheme that has displayed a true commitment to sustainable development in the East Midlands, whether this be in an environmental development, social enterprise or a scheme which will benefit the region in other ways, so long as it benefits the future generation. Schemes must have been completed over the last 12 months.
Excellence in design
The winner of this category will be the developer who has shown true originality in design excellence across a scheme or schemes over the last 12 months, whether this be aesthetically, functionally or in any other manner.
Responsible business of the year
Sponsored by: Press for Attention PR The winner of this award will have demonstrated corporate responsibility in their field, working in harmony and for the betterment of the local community in which it operates and setting a shining example for the rest of the supply chain.
Overall winner
Sponsored by: Streets Chartered Accountants This award cannot be entered, the winner will be selected from those nominated. The Overall Winner of the East Midlands Bricks Awards 2022 will also be awarded a year of marketing/publicity worth £20,000.   Submitting a nomination couldn’t be easier – simply click here and click on a category’s heading to access its form.
Find out who last year’s winners were here.
 
Thanks to our sponsors:                                      

To be held at:

£3.5m digital, transport and logistics academy opens in Boston

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£3.5m digital, transport and logistics academy opens in Boston

Boston College has opened its new Digital, Transport and Logistics Academy which will lead the way in delivering skills training for Lincolnshire’s logistics and transportation industry.

The new academy, which was opened by John Anderson, the third Viscount Waverley, will offer training courses with a focus on digital innovation and technologies for the future, as well as being relevant to the employment opportunities available within the sector. “I am honoured to be associated with a new wing at Boston College dedicated to investing in people and skills for freight and logistics,” he said. “The college has rightly recognised the importance of the industry and is to be commended for running with educational delivery feeding into the wider government initiatives. “These are exciting days and I congratulate Boston College for identifying that freight and logistics are fundamental in playing their part for the United Kingdom to manoeuvre through the challenges before us, establishing Boston College as a centre of excellence for learning in what is a key sector.” The Digital, Technology and Logistics Academy was funded by a £2.45 million grant from the Greater Lincolnshire Local Enterprise Partnership, while the college paid the remaining £1.05 million. An additional £182,976 of funding from Boston Borough Council was used to purchase industry-standard equipment as part of the Towns Fund. The Viscount Waverley, along with other special guests including Matt Warman MP, and Ruth Carver, Chief Executive of the Greater Lincolnshire LEP, were taken on a guided tour of the building and had the opportunity to observe learners who are currently using the new facilities and equipment. This includes a transport workshop, a network and hardware computer room holding industry standard equipment, a driving simulator, HGV and electric/hybrid training rigs, and digital software ranging from basic IT skills all the way to modern smart technology to equip local employers for Industry 4.0. Pat Doody, chair of the Greater Lincolnshire LEP, said: “The UK’s transport and logistics activities employ over 2.2 million people, and this new centre will help support local, national and international supply chains across the sector and generate career progression in the highly skilled digital economy. “With our £2.4m skills capital grant contribution, the LEP is proud to have enabled the development of this amazing facility in Boston, which will provide much needed industry standard training and a progressive skills pathway from Level 1 to Level 5.” Boston College principal and Chief Executive, Claire Foster, added: “We are delighted that our Digital Transport and Logistics Academy is finally officially open. The world-class learning environment and equipment are a significant investment supported by the Greater Lincolnshire LEP, providing critical technical and professional skills needed by our employers and our economy. “Our learners at Boston College are already thriving in this new statement space and we look forward to delivering our new International Logistics courses in the DTLA from September.”

Robots on the march as business booms for automation specialist

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Robots on the march as business booms for automation specialist
Nottingham-based robotic process automation specialist (RPA), The Robot Exchange, is celebrating after more than doubling its business in the last 12 months. More than 80% of the client projects are based on RPA or Software As A Service (SaaS) platforms. The result of the wins is an increase in revenue of 81% year on year and a doubling of the number of employees at the RPA specialist, as customers seek greater efficiencies in their processes and seek to reduce wastage of resource and time. Alongside major work for Coca Cola HBC, the most recent wins have been in the financial services sector, with Aryza and Mansfield Building Society joining the likes of Oakbrook Financial and Primis Mortgage Network in the portfolio. Andy Wallace, CEO at The Robot Exchange, said: “What we are seeing, especially as the challenges in recruitment continue across the globe, not just here in the UK, is a keen focus on finding the best resource solution. A lot of the time, the simple processes would be far more efficiently performed by RPA, freeing up skilled employees to deal with more complex areas of the business. “This is especially the case in financial services where we can identify bottlenecks in the system that are resolved by RPA and which can then be handled far more smoothly by qualified personnel who add their value to the customer with advice, not with number crunching and processes. “We are growing strongly but sustainably and that has been powered by the backing we received with investment from the Midlands Engine Business Fund. Our client book has a total annual revenue of £100 billion between them but whatever size they may be, there is always room for improvement and optimisation of resources – that is where we come in.”

Upperton Pharma Solutions announces £15m investment in new Nottingham facilities

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Upperton Pharma Solutions announces £15m investment in new Nottingham facilities
Upperton Pharma Solutions (Upperton), a UK-based specialist contract development and manufacturing organisation (CDMO), has announced a circa. £15m investment into the design and build of a 50,000 sq ft facility in Nottingham. The new facilities will allow a significant increase in research and development laboratory space and a 10-fold increase in GMP manufacturing space. The site is expected to create 100 job opportunities over the next few years and will strengthen the East Midlands’ reputation for accommodating UK scientific centres of excellence. Scheduled to be completed during the fourth quarter of 2023, the increased capacity will enable Upperton to continue to meet the growing demand for its oral, nasal and pulmonary dosage form development and GMP manufacturing services, as well as expand its offering to support larger scale, later stage development. The space will be designed to handle highly potent molecules and controlled drugs, reflecting the increasing number of these molecule types being developed in the industry. Upperton uses its expertise to develop a wide range of non-sterile, finished dosage formats for its clients. Alongside dosage form development, the company also specialises in spray drying, a particle engineering technology that can be used to ensure targeted delivery of drugs to the lungs and nasal cavity, or to provide solutions to pharma clients who have challenges with poorly soluble molecules. Nikki Whitfield, CEO of Upperton, said: “We are excited to be building new formulation development and analytical laboratories alongside the GMP facility to ensure our operations and capabilities remain state of the art. The new facilities will enable us to increase our current development and manufacturing capacity as well as expand our solid dose and spray drying offerings to address the growing needs of our customers.” The new facilities will also allow Upperton to support existing and new clients further in their product development journey, ensuring a consistent and streamlined pathway to approval. Nikki adds: “We enjoy close relationships with our clients and want to maintain the scientific and manufacturing support provided in the early stages of their product development through to late stage and commercial.”

Work gets underway to build over 1,500 Burton homes

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Work gets underway to build over 1,500 Burton homes
The start of work on 400 affordable homes at Dracan Village, Burton-on-Trent, has been marked by a ground-breaking ceremony that saw Countryside, the mixed-tenure developer, welcoming partners to the former power station site in Drakelow Park. Countryside is working with Midland Heart, the housing association, to provide over 400 affordable properties, as well as Sigma Capital Group plc, one of the leading providers in the build-to-rent market, to bring a completely mixed-tenure offer to the 1,500-home development in Burton-on-Trent. Countryside and Midland Heart were joined on site by representatives of South Derbyshire District Council and Derbyshire County Council, as well as the local Member of Parliament, Heather Wheeler MP, to officially mark the start of a project that is set to transform the brownfield site and the wider area. All the homes will be closed panel homes built off-site at one of Countryside’s modular factories. Joe Reeves, executive director of finance and growth at Midlands Heart, said: “It’s great to be onsite at Drakelow to see the early stages of this site. This is going to be a thriving and sustainable community for people to live in affordable housing and we’re really pleased to be part of that in partnership with Countryside.” Frank McArdle, Chief Executive of South Derbyshire District Council, added: “Today marks the start of a major and long envisaged regeneration project, the aim of which is to create a sustainable community development in the south west of the District of South Derbyshire.”

New chief lending officer for The Nottingham

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New chief lending officer for The Nottingham
The Nottingham has strengthened its leadership team with the recruitment of John Eastgate as chief lending officer. John brings with him deep mortgage sector expertise, having spent over a decade in executive roles with banks and building societies. He has a track record of delivering strong growth and has established market leading brands. His remit will be to accelerate the growth of The Nottingham’s mortgage offering. Commenting on his new position, John said: “I’m proud to have joined The Nottingham at such an important point in its history and to have become part of a team that is passionate about driving the building society forward. I am hugely attracted by the opportunity to help the Society grow. “Mutuals have a clear purpose – to benefit their members and community. Delivering on this purpose is my primary responsibility and I believe we have a great opportunity to do so through the growth of our mortgage offering. “I look forward to working with my new colleagues to build upon the strong foundations laid by those before me.” Sue Hayes, The Nottingham’s CEO, added: “I’m delighted to welcome John to the Society. The introduction of the chief lending officer role reflects the strategic importance of our plans in the mortgage space as we seek to deliver the best experience to our brokers, customers and colleagues alike. “John will build on the excellent work already underway by teams across The Nottingham to keep evolving our lending strategy to support our broker network and ensure we can help as many people as possible fulfil their property-buying goals. With his stellar experience and focus on purpose, I know he will be a fantastic addition to the team.”
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