Over Christmas and the 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 September and October
Barratt
Britain’s biggest housebuilder said demand for new homes remained strong, despite fears of increasing cost pressures.
The boss of Leicestershire-based Barratt Developments said the business had seen “strong and sustained” sales in the three-and-a-half months since July 1.
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It came on the back of results for the previous 12 months showing the group built more than 17,200 homes – up almost a third – with sales of £4.81 billion.
Barratt said it expected to complete between 17,000 and 17,250 homes this financial year, plus 750 homes through joint ventures.
The group, which includes Barratt Homes, Barratt London, David Wilson Homes and the Wilson Bowden commercial property builder, said reservations were slightly down on previous months when there had been pent-up demand at the end of lockdown and people rushing to make the most of the Help to Buy scheme before it ended.
It expected build cost inflation of between 4 per cent and 5 per cent this financial year.
It said the private average selling price in its forward order book as at October 10, was £344,300, compared to £331,400 a year earlier and £316,000 a year before that.
Derby County
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The administrators for Derby County Football Club said they were in talks with a number of potential buyers – but said former Newcastle United owner Mike Ashley was not one of them.
The Rams went into administration in September and Andrew Hosking and Carl Jackson of business advisory firm Quantuma were appointed joint administrators.
The Championship club had been struggling to find potential investors, with former owner Mel Morris previously saying he had no choice but to make the "gut-wrenching" decision over its future.
A number of reports were published about potential buyers including some linking Sports Direct CEO Ashley to Derby.
However, a statement from Andrew Hosking, managing director at Quantuma, said: “We have been contacted by a number of interested parties in relation to the sale of Derby County and have subsequently issued a series of non-disclosure agreements (NDAs) for signature in order to proceed.
“We can however confirm that we have neither been approached by, nor have we entered into dialogue with Mike Ashley.”
Walkers Crisps
Walkers Crisps struggled to make enough crisps for its customers due to major technical problems following a big IT upgrade.
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The Leicester-based manufacturer of Monster Munch, French Fries, Quavers, Wotsits and traditional crisps, said it was working round the clock to get back to capacity.
The problem affected production for several weeks, with supermarket shelves for many of its products bare and reports that rivals such as KP had seen big increases in demand for their products.
Walkers, which is part of the global PepsiCo group, said its operations in Beaumont Leys, Leicester, were making limited quantities of crisps and snacks.
A spokeswoman confirmed that products affected included multipacks of cheese and onion crisps, baked ready salted, Quavers, Wotsits and French Fries.
Leicester City FC
Leicester City released images showing the dramatic changes it wants to make as part of its expansion plans for the King Power Stadium.
The 2016 Premier League winners said they wanted to add another 8,000 seats and build a new 15-storey 220 room hotel and business centre, as well as a 6,000 capacity indoor arena at the ground for conferences, concerts, indoor sporting events and live performances.
The arena could be linked to the new East Stand and hotel via a footbridge.
The club completed a public consultation into the plans to make the stadium site, on the outskirts of the city centre, what it called a “365-day destination”.
They include extending the East Stand and adding a distinctive new bubble design cladding, creating new club and commercial office space, adding multi-storey parking and building a 234 apartment, 20-storey residential tower block.
Subject to planning permission, the earliest possible completion date for the East Stand work would be summer 2024.
Nuclear AMRC
It was announced that up to 70 jobs could be created at an R&D facility aimed at helping small manufacturers win work in the nuclear sector
The Nuclear Advanced Manufacturing Research Centre (Nuclear AMRC) won more than £9 million towards its plans to become a centre of excellence for the sector in Derby.
A pilot facility opened February 2019 and plans are underway for a full-scale manufacturing centre covering 46,000 sq ft.
The type of business that will benefit from its support will include companies involved in areas such as new welding technology, lubrication for environmentally-friendly machining, and supply chain support for manufacturing and material engineering projects in the nuclear sector such as new build and decommissioning.
The D2N2 Local Enterprise Partnership granted Derby City Council almost £7 million from its Getting Building Fund and £2.2 million from its Growing Places Fund to support the research centre at the city’s Infinity Park.
It is hoped it will establish Derby as a key advanced manufacturing and innovation hub for the 海角视频 nuclear sector.
Rolls-Royce, Shell and Airbus
The CEO of Rolls-Royce joined management at Shell and Airbus in promising to do more to reduce the huge carbon impact of flying.
Warren East, chief executive of the aircraft engine maker which is headquartered in Derby, said the sector must move ahead of United Nations targets to avoid becoming an even bigger share of global emissions.
He said currently it contributes up to 3 per cent of all greenhouse gases.
The engineering giant has already carried out ground and flight tests of a potentially 100 per cent sustainable aviation fuel as part of its ambition to help the sectors in which it operates reach net zero carbon by 2050.
Under current UN plans, at least 10 per cent of fuel used in global aviation should be sustainable by 2030.
Sustainable aviation fuel (SAF) takes many forms, but is often produced from farm crops and can be blended into traditional jet fuel.
Rolls-Royce has now announced that by 2023 all its ‘Trent’ engines, used across a range of long-haul aircraft, will be 100 per cent SAF compatible.
John Pye
Hundreds of staff benefitted after a Nottingham-based national auction house pledged to pay £1 million of its profits to its workforce following a year of strong sales.
Adam Pye, managing director at John Pye & Sons, said management made the decision on the back of an 18 per cent increase in turnover to £26.6 million and pre-tax profits of almost £2.6 million.
It meant more than 40 per cent of the year’s profits – some £1,030,000 – would be given to eligible staff who have stayed with the family business during the last year and been part of its growth.
John Pye & Sons has been trading for more than 50 years and holds more than 2,000 auctions a year on behalf of banks, finance houses, government authorities, insolvency practitioners, property agents and big retailers.
It has more than 60 auction rooms across the 海角视频, employing around 600 people, and sells items ranging from home and garden products through to vehicles, plant and machinery, property and luxury goods.
Velobici
A Leicestershire cycling gear manufacturer was creating new jobs and building its overseas presence on the back of a £500,000 investment.
Velobici, which is based in Leicestershire, said it would use the money to bolster its workforce over the next three years, creating seven full time jobs – six dedicated to the manufacturing side of the business and a new finance employee.
The company makes and distributes high-end cycling apparel and accessories, using sustainably sourced fabrics.
It also has an adaptable manufacturing strategy that helps limit excess production.
The business was also planning to move to larger premises, which would increase production capacity and allow the company to grow its distribution channels overseas.
It said a new range of cycling apparel was being developed for spring 2022.
ALB Group
A property company had been snapping up empty retail units in a once busy part of Nottingham in a bid to bring new life back to the area.
ALB Group had bought 11 properties in Bridlesmith Gate and a further three units in nearby Lister Gate, including a former Shoe Zone store.
Nottingham born Arran Bailey, managing director of ALB, said he wanted to kick-started a resurgence in the area by buying shops that are home to businesses such as designer fashion store 18Montrose, Fred Perry, and Coco Tang café and cocktail bar.
He said he would like to see traditionally high rents come down and leases shortened to make the units more affordable and sustainable for small businesses.
Mr Bailey said: “We want to make this area cool again – bring a vibrancy back that Nottingham was once known for.
“We want to see this part of Nottingham get a buzz like we’ve seen in areas like Hockley.”
Poundstretcher
Sales at the Poundstretcher store chain had stayed strong over the past half year, despite a CVA and new cost pressures, according to its chief executive.
CEO Aziz Tayub said the business was planning to soak up some of the potential cost rises from brands including Kelloggs, Heinz and Fox’s biscuits as it heads into the busy Christmas season. But some of its prices would have to go up, he said.
He said 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.
He said management were conservatively estimating pre-tax profits for the full current financial year of £40 million, on the back of cheaper rents, margin improvements and a fully stocked warehouse at their base between the villages of Desford and Kirby Muxloe in Leicestershire.
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