Over £475,000 set to be invested in Burbage and local area as part of new homes development
Davidsons Homes is set to invest over £475,000 to enhance the community facilities in Burbage and the surrounding area, as part of its new Sunloch Meadows development off Lutterworth Road.
As well as a whole host of improvements planned for healthcare and education provisions, the Leicestershire-based housebuilder has also pledged to retain sections of the ‘ridge and furrow’ earthworks – archaeological remnants of medieval ploughing – and to provide most of the 135 homes with charging points for electric vehicles.
Not only that, but Sunloch Meadows will also include a play area, footpaths and areas of green open space for the whole community to enjoy.
Simon Tyler, Sales Director for Davidsons South, said: “As part of our planning process, we were very keen to create homes in Burbage that will not only fit into their local surroundings, but will enhance them.
“With Georgian and Victorian-style homes being built, lovely areas of green open space for families to stroll through, a play area for children to enjoy and plenty of footpaths to walk the dog along, this development is going to offer a wonderful mixture of countryside and village living.
“Protecting the ‘ridge and furrow’ earthworks also constitutes a key part of our plans – we very much want to preserve links to the past and Burbage’s rich heritage.
“Alongside that, we are investing over £475,000 in the local area as part of our S106 obligations, which will improve facilities not just for our homebuyers, but the whole community.”
Over £84,000 is set to be paid to Hinckley and Bosworth Borough Council for an offsite area of open space, offering people even more places to enjoy walking and spending time in the fresh air, with another £74,000 to be paid to maintain that space.
Local healthcare facilities will be boosted by over £83,500 and over £93,000 will be invested into education. Nearly £5,000 will be given to support the local library and £118,000 will be spent on travel packs, lessening the burden on nearby roads and encouraging the use of public transport.
Loughborough expertise to help tackle problems in UK fruit production industry
Developments at Loughborough University are helping tackle problems at the heart of the UK’s fruit production industry.
Labour shortages, environmental impact and efficiency of output are all areas that will look to be improved as a result of work being undertaken by academics within the University’s School of Aeronautical and Automotive Engineering.
Experts at the University have now implemented a specialised navigation system which will be used to assist in two projects focused on improving the country’s horticultural landscape.
Both projects, which have a total funding pot of £6million behind them, are focused on using cutting edge technology to improve the efficiency of fruit production in the UK – whether that be through fruit-picking robots or the creation of digital orchards.
The £4.5millon Precision Orchard Management for the Environment (POME) project is a four-year venture led by Hutchinsons alongside external stakeholders – including project partner NIAB. Funded by commercial partners, DEFRA and Innovate UK, the work will digitally examine and scan fruit trees in fine detail to generate precision dosing maps for blossom, fruit thinning, fertiliser application, growth regulators, pest controls and fungicides – whilst creating a more accurate yield forecast for growers.
The Area-H project, launched in collaboration with Antobot and other external stakeholders, sees the University developed navigation system being implemented to assist with the creation and support of agricultural autonomous robots in the field. The three-year undertaking received a total £1.5million funding from DEFRA and Innovate UK.
Speaking on the POME project, Senior Lecturer in Autonomous Vehicles, Matt Coombes said: “If UK horticulture is to survive the effects of climate change and labour shortages brought about by Brexit, we need to innovate quickly. This project aims to develop precision agricultural techniques to increase efficiency and decrease pesticide use.
“First, we will combine data from drones and ground robots to give a tree level accurate digital twin of an orchard. This data can then be used to assist a high precision autonomous spraying platform exactly, putting the spray only where it is needed based on the digital twin.”
Professor of Robotics and Autonomous Systems, Cunjia Liu said: “The involvement in these two innovative horticulture projects funded by the UKRI Farming Innovation Programme presents us with a unique opportunity to transfer our years of fundamental research in robotics and AI to address the pressing challenges of the UK horticulture industry.
“Our aim is to further develop our understanding and elevate the technology readiness level through close collaboration with key stakeholders in both projects. This synergy is not just about immediate solutions; it’s about generating a lasting research impact that paves the way for a more sustainable and resilient future in agriculture.”
Sales dip at Eurocell against challenging market backdrop
Sales have dipped at Eurocell plc, the manufacturer, recycler and distributor of window, door and roofline PVC products.
According to a trading update for the year ended 31 December 2023, at £365 million sales were down 4% on an “exceptionally strong 2022 comparative period.”
Eurocell noted: “Trends reported at our half year results in September continued for the remainder of 2023, with some further modest weakening in our key markets. Repair, maintenance and improvement (RMI) activity continues to be impacted by low consumer confidence and higher costs of living.
“The ongoing steep decline in new build activity reflects successive interest rate rises and falling house prices, with house builders reducing build rates in anticipation of falling sales.
“Against the challenging market backdrop, we have delivered some resilience in the Group’s sales performance for the year. We continue to focus on closely managing cost and cash flow and, as expected, have seen some easing of input cost pricing in H2.”
Despite these challenges, the business anticipates underlying profit before tax to be in line with market expectations.
NAHL in “robust position” following “year of solid progress”
NAHL, the marketing and services business focused on the UK consumer legal market, is in a “robust position with cause to be optimistic for the future,” following a “strong financial performance” in 2023.
In an update on trading for the financial year ended 31 December 2023, the Kettering-based business revealed that revenues for the period are expected to be £42.2m, 2% ahead of the prior year.Meanwhile, profit before tax is anticipated to be in line with market expectations at £0.6m, holding steady with the same figure in 2022.
James Saralis, CEO of NAHL, said: “2023 represented another year of solid progress and I am delighted to be reporting a strong financial performance for NAHL.
“Whilst the personal injury market remained subdued, we have successfully completed our transformation into an integrated law firm with improved cash generation and NAL increased cash from settlements by 73% to £6.0m. Critical Care has delivered a strong financial and operational performance and there is an exciting opportunity to deliver further market share growth.
“The Group continued to generate high levels of cash and this led to a 27% reduction in net debt to £9.7m, which was well ahead of market expectations. The steps we have taken in recent years to enhance the Group have borne fruit and NAHL ended its financial year in a robust position with cause to be optimistic for the future.”
Revenue slips at Van Elle
Revenue has slipped at Van Elle, the Nottinghamshire ground engineering contractor, according to interim results for the six months ended 31 October 2023.
At £68.2m, revenue was 16% below the same period of the prior year (£80.8m), with the comparative period benefitting from stronger housing, construction and infrastructure markets. Meanwhile pre-tax profits dipped to £2.5m, from £3.5m.Mark Cutler, Chief Executive, said: “These results represent a resilient performance in the face of expected challenging market conditions throughout FY2024, reflecting the benefits of the Group’s diversified end-market exposure.
“Despite the anticipated lower revenues, operating margin has been maintained at FY2023 levels, our balance sheet is stronger, and our future prospects are more compelling. We are very pleased with the acquisition of Rock & Alluvium shortly after the Period end.
“The Group is developing a strong market position in the energy and water sectors and is well placed to benefit from a recovery in activity levels in housing, construction, rail and highways in FY2025.”
Revenue drops at Forterra
Revenue has dropped at Forterra, the manufacturer of clay and concrete building products, according to a trading update for the year ended 31 December 2023.
With weak demand, full year revenue totalled £345m, down from £455m in 2022.
Despite challenging market conditions, however, the business does expect to report full year adjusted EBITDA slightly ahead of expectations.
During the year, faced with increasing inventory levels, Forterra made reductions to production, with the mothballing of factories, shift reductions and production breaks. The business has also looked to deliver savings through restructuring commercial and back-office functions. Such management actions during the year are set to deliver annualised fixed costs savings of over £20m.
Looking ahead Forterra said: “The outlook for our industry remains subject to considerable uncertainty and, with a general election expected in 2024, demand is anticipated to remain subdued in the near term.
“However, with the long term under supply of housing in the UK continuing to worsen, and UK brick despatches now running at levels last seen in 2009, the Board remains confident in the Group’s ability to benefit as our key markets recover.
“Recent reductions in mortgage interest rates will improve the affordability of new homes, thus increasing demand for our products.“
New tenant confirmed for building previously occupied by Wilko on Hucknall High Street
National home and leisure retailer, The Range, has been confirmed as the new tenant in the building previously occupied by Wilko on Hucknall High Street.
Ashfield District Council says the building will be renovated over the coming weeks ahead of a grand opening on 15 March 2024. The Range currently have over 200 stores across the UK and stock more than 140,000 products from homewares and furniture to DIY and art supplies.
The opening of the new store marks another milestone in Ashfield District Council’s regeneration of Hucknall town centre. Over the next few months the Council will be working with local businesses to develop plans to improve Central Walk – the covered walkway and paved area connecting the High Street to Piggins Croft car park with works due to start later in 2024.
Leader of Ashfield District Council, Cllr Jason Zadrozny said: “I am delighted to be able to announce that The Range is set to open in Hucknall in March. As a Council we look forward to a positive relationship with another major retailer which can only be good news for Hucknall town centre and our local residents.”
Cllr Lee Waters, who represents Hucknall Central, said: “We are looking forward to welcoming The Range to Hucknall. When Wilko went into administration, Hucknall councillors tasked the council’s leadership with finding a new anchor partner.
“Councillor John Wilmott has personally led on this and we are grateful for his and others’ efforts. We look forward to the start of a great relationship with The Range that will provide jobs and prosperity in our town.”
The opening of the new store is expected to create up to 90 jobs with applications now open for local residents.
2024 Business Predictions: Dave Atkinson, regional director for the East Midlands at Lloyds Bank Commercial Banking
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Dave Atkinson, regional director for the East Midlands at Lloyds Bank Commercial Banking.
2023 was a turbulent year for businesses in the East Midlands, with inflation, skills shortages and the cost-of-living crisis continuing to present challenges. But firms are beginning to see the light at the end of the tunnel. Our latest Business Barometer research recorded a confidence reading of 34% for the region, meaning businesses closed out the year far more positively than they began it, with confidence up 19 points from January 2023. The East Midlands is also one of only two regions to see a month-on-month increase in December.
Here’s what I foresee as the main focuses for East Midlands businesses in 2024 to continue building on this optimism:
Prioritising technology investment
2023 has seen developments in areas such as AI, the metaverse and big data continue apace, and 2024 looks to be no different. It’s clearer than ever that digitalisation is essential to keep up with the market and competitors. In our Business Barometer, almost a quarter (24%) of East Midlands businesses identified introducing new technology as their main target area for growth over the next six months.
The technology opportunity is two-pronged. Investing in and adopting tech in their own operations will enable East Midlands businesses to make their processes more efficient, increase productivity and reduce costs. Likewise, the East Midlands has a well-developed manufacturing and technology sector, and those businesses which can bring new innovations to the market before competitors will see rapid growth driven by customers looking to be early adopters.
Economic uncertainty will continue, but there is a silver lining
After several years of disruption, businesses are well aware of the risk geopolitical tension presents to their supply chains and sales opportunities. Uncertainty is set to persist in 2024, with the ongoing Russia-Ukraine war, the conflict in the Middle East, elections in both the UK and US, and tensions between the US and China. Bringing supply chains back to the UK, or reshoring, will be an opportunity for the region’s businesses to insure themselves against disruption, while also creating more jobs in the region. Simultaneously, the UK itself will be looking to mitigate against future global challenges by securing its own production and energy, bringing opportunities for East Midlands firms in these sectors.
But East Midlands businesses are resilient and have already adapted to changing global headwinds. Through my work with local firms I know that many are beginning to see a buoyant uptick in their supply chain. As a region with a strong automotive manufacturing sector, for example, an end to the pandemic-induced semiconductor shortage has meant that production will rise in 2024, with manufacturers boasting fuller order books and a more positive outlook for the new year.
While the economic outlook is uncertain, there is a major boost coming to the region in the form of the East Midlands investment zone, set to cover parts of Nottinghamshire, Derby and Derbyshire. Expected to help leverage £383m in private investment, it will provide funding and support for innovation and growth projects, improve infrastructure and increase the region’s visibility and attractiveness, due to the generous tax incentives for businesses. 2024 will also see the region’s very first Mayoral elections, as part of the East Midlands devolution deal, which will see it benefit from £1.14bn of funding for transport, education, skills, housing and the environment. The plans are a huge opportunity for businesses, and it will be an exciting time for the region.
Focus on skills shortages
Businesses have been plagued by staffing troubles in 2023, and they aren’t going anywhere in 2024. The East Midlands unemployment rate has sat at 3.7% for the past five months, significantly below the UK average of 4.2%. The incredibly tight labour market means high levels of competition between firms to attract the best talent. And with the Investment Zone set to create 4,200 jobs over the next decade, labour shortage will only grow if businesses don’t prioritise it over the coming year.
The East Midlands is home to multiple world class universities and research institutions, however we lack the skills in factories to actually implement the excellent ideas being generated in the region. This is seeing businesses sell their ideas abroad and buy back the products produced to sell. By creating the practical skills we need here in the region, local firms can ensure their ideas are realised and become profitable.
In our recent Business Barometer, 40% of the region’s businesses said they plan to increase staffing levels over the next year – the highest percentage of any UK region or country. To do this, they will need to focus on tapping into the region’s diverse talent pool, as well as attracting more young people.
Sustainability opportunity
The tide is turning on sustainability requirements, with growing numbers of businesses viewing it as an opportunity for growth. By decarbonising their own operations and processes, businesses can differentiate themselves in the market. The UK’s best and brightest increasingly want to work for firms that are shifting the dial on climate change, giving employers the chance to attract new talent and alleviate the skills shortages which will continue to plague them in 2024. This will be particularly true for businesses hoping to attract young talent, which may have otherwise chosen to leave the region to work for businesses in larger cities such as London, in search of work they believe to be more forward-looking.
For SMEs, reducing their own emissions also makes them a more attractive supplier to large companies, which are increasingly under pressure to report on their own emissions, including scope three – the emissions of their supply chain. If local firms can produce a sustainability statement showing they are decarbonising, or can prove their emissions are lower than other players in the industry, they can position themselves favourably against global competitors. With the East Midlands Investment Zone set to focus on green industries, 2024 will see more East Midlands firms bolstering their sustainability credentials to give them the edge over competitors.
While many of the challenges that were present in 2023 will continue to persist this year, the region’s businesses are well placed to capitalise on the opportunities that present themselves and I believe we’re looking forward to a year of growth in the East Midlands.
2024 Business Predictions: Natalie Bamford, Colleague Box
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Natalie Bamford of Colleague Box.
Corporate gifting is big business – and its popularity shows no signs of slowing down in 2024.
It can strengthen your reputation and your overall relationship with your business partners and employees and is a powerful way of expressing your gratitude.
A report by business magazine Forbes found that 42% of businesses cite relationship management as a top reason for their corporate gifting initiatives.
Christmas is traditionally a busy period for Colleague Box and 2023 has been no exception; it’s been great to see the variety of boxes that we have created for clients, though, from build-your-own boxes where clients choose their own packaging, contents and delivery options to bespoke ones that we have produced for charities including Derventio Housing Trust. They run shared houses for hundreds of people across the UK who might otherwise be homeless, and their boxes included snacks such as popcorn, crisps and chocolate. They have been popular with companies wanting to ‘give back’ to their community.
We have also seen a rise in the number of businesses opting for a subscription so that their business partners and employees can be sent treats throughout the year – and not just at Christmas time.
In the past you might have had a subscription for a magazine or the gym, and nowadays you can get subscriptions for anything from in-home fitness to boxes that contain everything you need to cook a healthy meal; think Hello Fresh and Abel & Cole.
The idea of a subscription can help retain talent and shows your partners that you appreciate them all year round and not just at Christmas.
Flooring specialist to triple the size of its premises
Leicestershire firm Abacus Flooring Solutions is moving to bigger premises following a year of continued growth.
The resin flooring specialist will triple the size of its facility when it moves from its current site in Coalville to a new 3,000 sq ft industrial unit in Belton Road, Loughborough.
Established three-and-a-half years ago by Nick Megson, Abacus has also grown from nothing in 2020 to a £1m-plus turnover last year – with a current forecast that it will break the £2m barrier by the end of this year.
The company’s success is largely the result of a ‘world-first’ innovation developed by Nick called Abaplas. Abaplas is a resin flooring system that uses 100 per cent recycled waste plastic as a bulking material instead of the traditionally used silica sand, which is damaging to human health and the environment.
The firm’s expansion will trigger the launch of a new umbrella company, Abacus Materials Ltd, which will consolidate the trading and handling of all recycled plastics and resin flooring systems.
Nick said the Loughborough move is initially expected to create up to five new jobs, adding to the eight full-time staff already employed by Abacus. He will also establish a new training centre to encourage a new generation of younger workers into the resin flooring industry.
“If you’d told me three years ago that Abacus would grow to a £2m company operating from a 3,000 sq ft site, I simply wouldn’t have believed you,” said Nick. “I often have to pinch myself to convince me that this is not a dream.
“But our order book has gone through the roof and continues to grow. After winning multiple awards, mostly as a result of the Abaplas invention, we are now making great strides in the global market as well as the UK.
“Business is certainly booming. People have quickly caught on to the fact that Abaplas is hugely sustainable; it cuts the carbon emissions produced by the heavy mining of silica sand as well as preventing vast quantities of waste plastic ending up in landfill or the world’s oceans.”
