This Christmas and New year we have been looking back on a remarkable year for business across the region. One that started in the midst of latest lockdown restrictions but which seemed to be on the up with vaccination roll-outs. As businesses were getting back to some level of normality, they took a fresh knock from the combination of worker shortages, supply chain issues, inflation and various other consequences of Covid and Brexit. Then Omicron hit……. This was how things looked in November and December
Triumph Bikes
The millionth Triumph motorbike since the relaunch of the brand in 1990 rolled off the production line in 2021.
The one-off, custom painted Tiger 900 Rally Pro was officially unveiled at the bike builder’s global headquarters in Hinckley – with a livery harking back to the very first Triumph in 1902.
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It was displayed on Triumph’s stand at this year’s NEC Motorcycle Live show before moving to Triumph’s Factory Visitor Experience at the Leicestershire HQ.
The landmark production figure comes on the 120th anniversary of the famous British manufacture r, and at the same time that the business builds up the production back in the 海角视频 a couple of years after moving the lion’s share of manufacturing to Thailand.
It also comes as the company boasted a 30 per cent uplift in sales this calendar year.
The very first production Triumph motorcycle was built in Coventry by the Triumph Cycle Co, and went on sale in April 1902.
Omicron
The boss of one of the 海角视频’s biggest Chambers of Commerce welcomed the announcement of £1 billion of support for hospitality and leisure businesses.
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The sector has been crippled by rising concerns about the new variant of Covid 19 in the run up to what should have been the busiest time of the year.
The support includes grants of up to £6,000 for businesses in the affected sectors in England , which is expected to be administered by councils in the coming weeks.
The Government also intends to use taxpayers’ cash to cover the cost of statutory sick pay for Covid-related absences for firms with fewer than 250 employees.
Cultural organisations in England could also expect to access another £30 million in funding during the winter via the culture recovery fund.
East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire) chief executive Scott Knowles said: “These measures will provide some welcome respite to many of those businesses that have been hit hardest by the latest Covid-19 measures.
Rolls-Royce
The State of Qatar revealed it was taking an £85 million stake in the Rolls-Royce spin-off developing a new generation of mini-nuclear power stations.
The emirate’s sovereign wealth fund signed a deal with the engineering giant to take a 10 per cent stake in the Rolls-Royce Small Modular Reactor (SMR)
business.
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Rolls-Royce, which is headquartered in Derby and has a big operation in Filton, South Gloucestershire, wants the subsidiary to play a big part of the 海角视频’s Net Zero agenda.
It says a single mini power station could occupy around a tenth of the size of a conventional nuclear plant, and generate enough power for around one million homes.
It has said the plans could create 40,000 海角视频 jobs when fully operational by 2050 and generate £52 billion in economic benefit.
The consortium behind the plans has now secured a total of £490 million of funding.
Ibstock
Britain’s biggest brick maker announced plans to turn its operations green.
Ibstock said its “ambitious new carbon reduction commitments” would help make the business net zero in carbon emissions by 2040.
Last summer Ibstock announced it was back at full production capacity following the big hit taken when the country ground to a halt early in 2020.
It was forced to shut its plants and put medium-term plans on hold when the country was forced into mass national lockdowns.
Sales for 2020 were down 23 per cent to £316 million as a result of the pandemic.
The north west Leicestershire business has invested millions redeveloping its clay brick facilities in recent months to expand capacity.
It said it had already cut carbon emissions by 15 per cent and had now set out tougher targets to achieve a 40 per cent reduction by 2030, and a commitment to become net carbon zero within 18 years.
Workplace Parking Levy
Leicester City Council said a workplace parking levy could be introduced in Leicester by early 2023.
The council has been considering a citywide scheme where companies with 10 or more parking spaces for staff would have to pay £550 per space per year for a licence.
It said only one in 10 companies - between 450 and 600 - would be big enough to have to pay.
The city said as well as meeting tough environmental and air quality targets it would also help fund a “radical overhaul and long-term modernisation” of the city’s public transport, cycling and walking networks.
It said it will help cut congestion and pave the way for connecting new housing developments with sustainable transport. Pending Government approval, it could start in early 2023.
Joules
Shares in Joules dropped almost a quarter in mid-December on news that sales had slowed on the back of supply chain issues, higher costs and stock delays.
The warning came despite positive half year trading results.
In a six month trading update the Leicestershire clothes and homewares business said: “In addition, labour shortages in our third-party operated distribution centre have resulted in extended product delivery times to online customers, stores and wholesale partners.
“These factors were particularly acute in November, including the Black Friday period, which alongside weaker year-on-year online traffic contributed to performance during this month being below expectations.
“Global supply chain challenges are expected to remain during at least the second half of the group's financial year and there is increased consumer uncertainty as a result of the emergence of the Omicron coronavirus variant.
“Supported by a strong stock position and wholesale order book, actions that have been taken to improve productivity at the distribution centre, and the ongoing strong customer demand for the group's products, the board is confident that the group will achieve continued strong revenue growth in H2 and an improved profit performance.”
East Midlands Airport
Britain’s aviation minister heard how East Midlands Airport was forecasting another record-breaking year for air cargo thanks to online shopping and the current challenges of moving goods by sea.
Robert Courts MP visited the Castle Donington cargo operation at the busiest time of year in the run-up to Christmas.
The airport estimated that by the end of its current financial year 470,000 tonnes of goods will have been handled by it – compared with 438,000 tonnes last year, and 370,000 the year before, prior to the pandemic.
At times since the first global lockdowns came in, the airport was the tenth busiest in Europe thanks to its global freight operations, compensating for some of the revenues lost when tourist services collapsed .
More than a million items pass through the airport each night at this time of year, ranging from household goods to electronic devices, luxury cars, medical supplies and industrial parts.
Watches of Switzerland
The boss of the Watches of Switzerland group said he wanted it to become the market leader in the United States and find more opportunities to grow sales across the EU.
Chief executive Brian Duffy said the Leicestershire-headquartered group – which includes Goldsmiths jewellers and Mappin and Webb – was also building its already strong position in its home territory.
Investment in the US, combined with continued strong demand for luxury watches and jewellery and a near 29 per cent growth in online sales, saw global sales reach £586.2 million in the six months to the end of October, compared to the same period last year.
Pre-tax profits almost doubled to £64.7 million for the half year, compared to £36.2 million a year earlier.
Revenues from its US stores, the business said, were £167.6 million for the six months, up 50 per cent on a year before.
The group has been investing in its American Mayors chain , and doing more with its single brand watch shops in the 海角视频 and US.
It has refurbished two Florida stores and opened Watches of Switzerland branches in American Dream, New Jersey and in Kenwood Towne Centre, Cincinnati. It has also opened a refurbished Rolex boutique in the Wynn Resort, Las Vegas.
Poundstretcher
Discount chain Poundstretcher said it was giving all its staff a 10 per cent pay rise as a way of saying thanks for helping the business through a tough couple of years trading.
The Leicestershire-based group said from January 1, it would be raising the salaries of all staff who have been with the business more than a year.
It said: “The award is a show of support by Poundstretcher to its employees, particularly support centre and customer facing staff, acknowledging the discipline and commitment made to help maintain the business’ success.”
The chain employs around 5,500 people and sales have stayed strong over the past half year, despite a CVA and new cost pressures.
Co-owner and chief executive Aziz Tayub told BusinessLive the group saw sales of £140 million in the six months to the end of September, and pre-tax profits for the half year of £23 million.
Back in 2020 the discount chain went into a CVA – a legally binding agreement with its creditors – to try and bring down cripplingly high rents, before going on to close loss-making stores with the loss of around 200-250 shop staff.
Mr Tayub said the company’s turnaround saw pre-tax losses of £49.5 million in the year to March 31, 2020, turn into pre-tax profits of £30 million the following year.
Haymarket Shopping Centre
Leicester City Council invested almost £10 million in buying the city’s Haymarket Shopping Centre.
The council said it had taken an opportunity to add the big centre to its property portfolio before the site went to market.
It bought the 1970s shopping centre for £9.9 million from a pot of £10 million set aside for capital investment within the council’s overall capital programme.
This funding can only be spent on buying or improving buildings or highways, and not on running services.
Before purchasing the property, the council was a major tenant of the previous owners, contributing 19 percent of all revenues.
It paid rent for the Haymarket car park, Haymarket Theatre, Haymarket House – which is sub-let to a Travelodge hotel and the Haymarket Health sexual health clinic.
In the spring of 2020 the theatre announced that it would not be reopening when the first lockdown was lifted.