- April: A pre-recorded Q&A video featuring Pauline Latham OBE MP, a Trustee of the charity, alongside G F Tomlinson’s HSEQ Advisor Mark Houldsworth. Pauline shared her motivations for supporting the charity, her personal connection to the cause, and vital information about the signs and symptoms of Aortic Dissection.
- June: Site Managers Phil and Ed completed the gruelling Lake District Ultra Challenge, conquering a continuous 100km loop around the Southern Lakes.
- October: Attendance at the Aortic Dissection Charity Ball held at Pride Park Stadium, further strengthening connections within the community and purchased items in the silent auction on the night.
- November: A staff charity quiz night and raffle brought teams together in a fun and engaging way to support the charity.
- December: A festive Christmas Jumper Day closed out the year with all proceeds donated to the ADCT.
G F Tomlinson raises funds and awareness in year supporting Aortic Dissection Charitable Trust
Midlands contractor, G F Tomlinson, has reflected on its impactful partnership with the Aortic Dissection Charitable Trust (ADCT) as its chosen charity for 2024.
The year-long collaboration has seen the team come together to raise £3,700 and vital awareness for a life-threatening condition that affects seventy people weekly across the UK and Ireland.
Aortic Dissection is a serious heart condition caused by a tear in the wall of the aorta. Without early detection and treatment, it can lead to devastating consequences, yet with timely intervention, survival rates can soar to 80%.
In support of the ADCT’s mission to improve diagnosis, prevention, and treatment outcomes, G F Tomlinson hosted an array of fundraising activities throughout the year, dedicating 386 volunteering hours in total.
Key activities in 2024 included:
East Midlands unemployment falls to lowest level in over a year
With unemployment in the region among over 16’s having dropped more than any other region in the UK to 3.8%, East Midlands Chamber says the impact of higher staffing costs businesses face from April, following measures announced in the Autumn Budget has yet to be seen.
The latest data from the Office for National Statistics covers September to November 2024 and is now the lowest unemployment rate in England, having fallen 0.8% from the previous quarter. The last time the figure was below this point was April to June 2023.
East Midlands Chamber Director of Policy and Insight Richard Blackmore said: “Falling unemployment is absolutely something we want to see, getting people into jobs and driving the East Midlands economy, but the reality is we’re not at a champagne moment. The swathe of costly measures announced to businesses in the tough Autumn Budget hasn’t hit yet and could well turn this figure upside down.
“Our most recent Quarterly Economic Survey revealed Corporate Taxation at the top of concerns reported by businesses, followed by inflation and business rates. With National Insurance contributions set to rise and a lower rate at which payments are made, added to a higher national living wage on the horizon, businesses have difficult decisions to address.
“We have strong data that shows a doubling of East Midlands businesses planning to cut back on recruitment, up to 22% of firms. To put perspective on that, it was 9% in the survey we carried out before the Autumn Budget was announced.
“Three out of ten respondents in the survey after the Budget have revised their investment plans downwards for training, while six out of ten plan to up their prices. These are signs that businesses are going ‘should we really be pushing up our costs when we’ve got huge added costs to foot somehow.’
“Our Quarterly Economic Survey is a reliable indicator of business intention in the East Midlands as it’s based on both sentiment and measurable factors. Businesses invest when times are good and the right environment is in place, but when you’ve attributed a certain amount of outgoing cash and then learn your staffing costs will be higher than anticipated you may well rethink.
“Political leaders must not sit back and wait to see how the next few months unfold. We need policies in place that are supportive to businesses in the East Midlands, enable uninhibited growth, so businesses are not having to freeze spending to protect themselves.”
Chesterfield architects set up base north of the border
Chesterfield’s Whittam Cox Architects has opened a new office in Dundee to serve as a hub for the practice’s growing portfolio of projects in Scotland.
This strategic move aims to strengthen the company’s footprint in the region, with a particular focus on driving growth in the retail sector, as well as providing further potential to expand into a wider architectural offer to deliver projects in other sectors.
The practice has worked in Scotland for many years with some of the UK’s leading retailers. This office will look to further develop their ability to deliver a range of projects in the country.
Andy Dabbs, Managing Exec Director, said:“We are thrilled to officially launch our new office in Scotland. We see Scotland as a diverse and dynamic market for us. By establishing a local presence, we aim to deepen our relationships with existing clients and enhance our proposition and reach for new client growth, both here and in Ireland”.
The Scottish office will focus initially on retail work. The firms long-standing expertise in retail architecture will be complemented by its aspiration to deliver wider architectural design and delivery services in the region.
The new office will be led through the new appointment of Regional Director Clive Gordon; a retail and technical expert with experience spanning many years. Clive is known to the practice through collaborating on previous projects together.
Leicestershire precision engineering firm acquires supplier
A precision engineering firm in Hinckley has acquired one of its main suppliers.
H2M Engineering Limited, which is based in Hinckley and specialises in producing machined components, has purchased Accurate Grinding Limited.
Law firm Wright Hassall acted on behalf of H2M Engineering Managing Director Andy Forryan and Production and Engineering Director Martin Forryan to acquire the business.
Accurate Grinding Limited, which was based in neighbouring Barwell, operates grinding machines to grind, shape and finish metal components and has now re-located to the H2M Engineering site.
H2M Engineering produces and assembles components for a range of industries including aerospace, autosport and gas generation across the UK.
Penelope Sankey, of Wright Hassall, acted on the acquisition, with the corporate finance advice provided by Greg Philp and Holly Andrews, of Horizon TAS.
Penelope said: “We are extremely pleased to complete this acquisition on behalf of H2M Engineering as the business looks to expand its offering.
“This deal has seen H2M acquire one of its key suppliers, enabling it to bring everything under one roof and offer an expanded range of products to its clients.
“It is always very positive to be able to support a growing business, and we wish H2M Engineering every success for the future.”
Greg Philp, of Horizon TAS, said: “We worked closely with H2M Engineering, as well as a team of other local advisors, to make sure the deal was structured in a way that worked for everyone—financially, legally, and personally.
“It’s been fantastic to see two local businesses with shared values come together, and we’re excited to watch them grow side by side in the future.”
Soft furnishings company falls into administration
Nottinghamshire-based soft furnishings company Home Curtains (UK) Limited has fallen into administration.
Home Curtains is a leading name in the home furnishings industry, with over 35 years of industry experience, supplying products to a large number of retailers and direct to customers.
Due to rising costs of materials, shipping and energy, alongside reduced consumer spending and inflationary pressures, the company faced difficulty maintaining profit, and now Dean Nelson, Head of Business Recovery and Restructuring at PKF Smith Cooper, has been appointed joint administrator.
Trading of the business is being continued over the coming weeks, under the supervision of the joint administrator, whilst either a purchaser is found for the business and its assets, or the substantial quantity of stock is wound down and sold.
The administrator has already negotiated a significant sale for a proportion of the company’s available stock.
Dean Nelson said: “I continue to encourage both the trade and the public to seize the opportunities available during this trading period for the company. I will be working towards maximising sales of stocks to obtain the best possible outcome for all creditors and stakeholders.”
Paragon supports Midlands property developers through £150m development finance
Paragon Bank’s Development Finance division lent nearly £150 million to developers and housebuilders in the Midlands last year, boosting new homes across the region.
The team supported 16 projects throughout the region in the year to 30 September 2024 (Paragon’s financial year), including schemes in Birmingham, Coventry, Derby, Nottingham and Wolverhampton.
In terms of the split, £103 million was lent to developers in the West Midlands across 11 schemes, with £45 million financing five projects in the East Midlands.
Amongst the schemes supported were:
- £21.1 million funding for the second phase of Elevate Property Group’s Silk Yard Development in Derby
- £5.4 million funding for a 34-unit scheme in Nottingham for Hockley Developments Ltd
Balfour Beatty to sell Derby rail measurement business to Hitachi
Balfour Beatty, the international infrastructure group, has reached agreement for the sale of Omnicom, its Derby-based specialist rail measurement hardware and intelligent software business, to Hitachi Rail.
The acquisition by Hitachi Rail will support Omnicom’s growth strategy to expand beyond the UK into the US and European markets. Balfour Beatty’s UK Rail business will continue to focus on its core capability of managing, enhancing and maintaining thousands of miles of railways and supporting rail infrastructure across the UK.
Over the last decade, Omnicom’s capabilities and offering to the market has strengthened through acquisition and organic growth.
Today, with its over 100-strong subject matter experts, it develops and deploys proven, AI enabled technology alongside robust hardware and software to capture rail data. This assures operational stability and enhances train-borne monitoring of rail infrastructure for customers such as Network Rail and London Underground.
Mick Rayner, Managing Director of Balfour Beatty’s UK Rail business, said: “In order to capitalise on its unique technological solutions to the Rail market, Omnicom requires an owner with a truly global reach and a complementary culture.
“Hitachi’s acquisition will further enable Omnicom to leverage its capabilities and apply its expertise in the rail and digital technology sectors in both the US and European markets.”
Sanjay Razdan, Managing Director of Omnicom, said: “This acquisition strengthens Omnicom’s ability to collaborate, innovate and deliver AI-enabled systems and services whilst further enhancing the safety, efficiency, and reliability of rail infrastructure, building on our proven data driven solutions which help predict and prevent railway asset failures.
“I look forward to Omnicom’s continuing success as part of the Hitachi brand.”
Hitachi Rail CEO, Giuseppe Marino, said: “This is a strategic acquisition for Hitachi Rail. Plugging Omnicom’s pioneering track monitoring tools into our digital asset management platform, will further strengthen our global offer to optimize customers’ rail services and the surrounding infrastructure.
“New technological solutions such as our HMAX platform demonstrate the power of AI to enhance the performance of our railway infrastructure and systems.”
Yü Group delivers “strong” 2024
Nottingham-based Yü Group, the independent supplier of gas, electricity, meter asset owner and installer of smart meters to the UK corporate sector, has “delivered a strong 2024.”
According to a trading update for the financial year ended 31 December 2024, revenues grew 40% and are expected to be approaching £650m.
Meanwhile, delivery of 2024 EBITDA margin is forecasted above expectations, driven by strong contract profitability in the second half of the year, robust hedging policy and tightly managed bad debt.The year saw continued growth in Yü Energy, during which meter points supplied increased 65% to 88k, and volume of energy supplied (EQVS) increased organically by 78%.
Average monthly new bookings, however, of £42.6m was down from £55.5m in 2023, reflecting a softer commodity pricing environment.
Revenue contracted for the next financial year increased 9% to £566m.Progress was also mode at Yü Smart, with continued scaling up of meter installs growing 169% in the year to 22.9k.
Bobby Kalar, CEO of Yü Group, said: “The Group has delivered a strong 2024 and I’m delighted, once again, to update shareholders on our progress.
“Yü Energy, our supply business, has seen a c.40% increase in revenue despite lower commodity pricing, and we enter 2025 with 88,000 meter points, up 65%.
“Yü Smart continues to deliver incredible advantages to our customers and the Group, and we now have national coverage of skilled engineers. We have financed 27,200 smart meter assets which provide a growing index-linked annuity income stream alongside other significant benefits to our customers and our own operation.
“I look back with pride on our journey and the hard yards invested, which have seen a quadrupling of revenue in the last four years. While our increased scale suggests a lower organic growth rate in the future, our Group is well placed to continue to take market share with a significant opportunity remaining.
“Our business is in good shape across Yü Energy and Yü Smart to continue to deliver. We have a fantastic and dedicated team in place, and I’d like to thank them for all the work done in delivering yet-another record year.”
Weakening consumer confidence and unseasonal weather conditions hit revenue and profit at Shoe Zone
Shoe Zone has seen a fall in revenue and profit, as weakening consumer confidence and unseasonal weather conditions hit the Leicester business.
According to audited results for the 52 weeks to 28 September 2024, revenue was £161.3m, down from £165.7m in the prior year.
While store revenue reduced by 6.5% to £126.1m, trading out of 26 fewer stores, digital revenues increased by 13.9% to £35.2m, driven by an increase in conversion, due to the introduction of free next day delivery on all shoezone.com orders and strong Amazon sales.
Profit before tax stood at £10.1m, declining from £16.2m, which the firm said was “primarily due to the challenging second half trading environment, as a result of unseasonal weather conditions, particularly in peak summer, higher container prices, higher energy costs, higher depreciation charges due to increased capital expenditure, and higher wage costs due to the National Living Wage increase.”
The business told the London Stock Exchange: “Shoe Zone had a good year, essentially split into two halves. The first six months saw strong and consistent trading, followed by disappointing store sales, due to the weakening of consumer confidence and unseasonal weather conditions, particularly during peak summer.
“That said, the key back to school trading in the second half was positive, and ahead of the previous year, as were Digital sales, which had strong growth for the full period.”
Plans for 314,000 sq ft of employment space submitted in Leicestershire
Richborough Commercial has submitted an outline planning application for the development of a 23.4 acre site in Ellistown, north west Leicestershire.
It is looking to provide up to 314,000 sq ft of employment development floorspace, providing industrial, storage or distribution space, together with habitat creation landscaping and associated infrastructure.
The site, located on Midland Road, Ellistown, is adjacent to Bardon Hill and is some 3.5 miles from Junction 22 of the M1.
Nick Jones, Group Director at Richborough Commercial, said: “We are very pleased to submit the application on behalf of our landowner.
“We look forward to working with North West Leicestershire District Council and its consultees to secure a positive outcome at planning committee in 2025, to be able to provide the range of commercial units to satisfy the needs of occupiers, the strong demand for which has been identified by both Richborough and the local authority.”
Richborough Commercial anticipates bringing the site to the market mid-2025.
