Smaller businesses attracted £98 million of announced equity investment across the East Midlands in 2022, according to the British Business Bank’s annual Small Business Equity Tracker. Published today, the report has revealed that there had been 58 announced equity deals in the region – but because of the downturn in the market, the East Midlands attracted 37% less in investment on the previous year. Despite the downturn and fall in investment, the number of deals in the East Midlands in 2022 remained relatively stable, and was the second highest annual total on record. The British Business Bank allocated 2.1% of its equity deals to the region, compared to 2.0% across the wider equity market. In areas outside of London, the number of deals fell by 10% in 2022 to 1,337 deals. The total investment value in these areas also fell by 11% to £5.8bn. The decline in the number of deals is twice as fast as the decline experienced in the London region. The biggest concentration of investment is once again focused in London, and this highlights the need of the Bank’s regionally focused programmes including the Midlands Engine Investment Fund (MEIF) which plays an important role in increasing the supply of finance in the Midlands. Dr Sophie Dale-Black, UK Network Director, Midlands at the British Business Bank, said: “2021 was an incredibly strong year for equity investment in the East Midlands and it is positive to see such a huge amount of equity investment coming into the region to help smaller businesses to grow and this shows there is still a desire for that to continue. “But, as we start to feel the economic downturn, the decline in investment in 2022 reflected concern about the overvaluation of deals, and the effects of higher inflation and rising interest rates. “The Bank continues to back smaller businesses in the region and will monitor these changing equity finance conditions carefully, and stands ready with programmes such as the Midlands Engine Investment Fund to support finance markets in the region.”

Another bidder has been unveiled for Center Parcs in the form of a Singaporean sovereign wealth fund. It follows news that a vehicle managed by private equity giant CVC Capital Partners was considering putting forward an offer to buy the holiday resorts chain’s six UK and Ireland sites. Now, according to reports from Sky News, Government Investment Corporation (GIC) is in talks regarding a joint bid for Center Parcs with private equity investor KSL Capital Partners. GIC previously showed interest in the Nottinghamshire-headquartered business in 2015, when it joined up with CVC Capital Partners to make an offer, but lost out to Canadian private equity firm Brookfield, who bought the business for around £2.4bn. Center Parcs was put up for sale last month (May) by Brookfield with a £4-5bn price range. Infrastructure funds, including Antin, are also exploring offers for the company, according to Sky News’ city sources. The first UK Center Parcs location opened at Sherwood Forest in Nottinghamshire in 1987. Today, Center Parcs serves over 2 million guests per year with a 98% occupancy rate.

Games Workshop is expecting to report a rise in revenue and profits in its full-year results for the 52 weeks ended 28 May 2023.

The Nottingham-headquartered firm is estimating core revenue to be not less than £440 million (growing from £387 million in its prior year) and licensing income of £25 million (compared to £28 million).

Profit before tax, meanwhile, is estimated to be not less than £170 million, increasing from £157 million.

In recognition of its staff’s contribution to these results, Games Workshop have paid during the year profit share cash payments, amounting in total to £11 million. Furthermore, dividends declared and paid in the year were £136 million, 415 pence per share.

Motorpoint, the omnichannel used vehicle retailer, has slipped to a pre-tax loss despite record revenue, according to final results for the year ended 31 March 2023 (FY23). The UK’s difficult macroeconomic conditions, and their knock-on effect on the used car market, impacted the Derby company’s growth and profitability in the year, particularly in the second half. While revenue increased to £1.4bn from £1.3bn in the prior year, helped by vehicle mix and inflation, Motorpoint posted a loss before tax of £300,000, slipping from a pre-tax profit of £21.5m, influenced by rising financing costs, limited stock availability and the fall in value of electric vehicles, along with increased investment of £6.1m relating to delivery of strategic objectives. Mark Carpenter, Chief Executive Officer of Motorpoint Group PLC, said: “Having recently celebrated our 25th anniversary, I have been reflecting on the Group’s performance and our journey to date. FY23 was marked by record revenues and further strategic investments as we endeavour to provide customers across the UK a seamless car buying experience. “This investment is thus far delivering good results and has positioned the Group better for the future. This allows us to pause the level of ongoing investment, given the current consumer and macro environment, while enjoying the efficiencies we have now built into the business and continuing to deliver on our growth strategy within the market constraints. “Whilst the impact of higher interest rates and inflation will continue into FY24, new car registrations have been steadily increasing, with the fleet market driving much of the growth, which will in turn benefit used vehicle supply. This, coupled with continued market share gains and progress on our key initiatives, will enable Motorpoint to emerge from the current environment in a strong position to more aggressively pursue profitable market leadership.”