Revenue dips at Van Elle

Tess Egginton
-
0
Revenue dips at Van Elle

Revenue has dipped at Van Elle, the Nottinghamshire-based ground engineering contractor, according to a trading update for the 12 months ended 30 April 2024, as it lines up a range of further cost saving measures, including headcount reductions and efficiency projects.

Group revenue for the year is expected to be £140m, approximately 6% below the previous year including five months contribution from the acquisition of Rock & Alluvium Limited.

Van Elle noted that this “is in line with expectations and reflects the impact of prevailing market conditions, with the housing and infrastructure sectors being impacted by lower levels of demand and delays.” Meanwhile, the business expects to report profit before tax in line with market expectations, as a result of continued focus on operational performance, whilst controlling its cost base. Looking ahead Van Elle said: “Both the housing and infrastructure sectors are widely expected to recover in the near term, and whilst timing remains uncertain, the Group will benefit from increased volumes. Van Elle is also developing a strong position in the water and energy sectors, which are both expected to contribute materially to activity levels from FY26 and beyond. 

“The Group has been awarded new frameworks in Q4 FY24 including in Network Rail’s CP7 civils and geotechnical programme, with the Coal Authority for national ground investigation services and for key customers in the energy sector.

“The Group will commence its first major energy transmission scheme in FY25 with further tender opportunities expected this year and is designing modular foundation solutions for several customers ahead of AMP8 in the water sector.

“The Board remains conservative on the timing of a full recovery in the housing sector, but the Group is seeing early signs of progress with order intake and rig utilisation increasing over the last three months.

“The Group has identified a range of further cost saving measures, consisting of headcount reductions and efficiency projects, with targeted annualised savings in excess of £1m.”

East Midlands among top regions for female trade workers – yet only making up 2.35% of workforce

Michael Fisher
-
0
East Midlands among top regions for female trade workers – yet only making up 2.35% of workforce
A new study reveals that despite East Midlands having the third-highest number of female trade workers, women only make up 2.35% of the industry workforce. This new research follows the recent revelation that the industry is one of the least diverse. This shortfall could potentially cost the UK economy around £98 billion in economic growth by 2030¹. Currently, there are 1,051,508 skilled workers in England and Wales. Of this, 1,026,734 are male, with just 24,774 females making up the remaining workforce. This stark gender disparity in the trade sector is a pressing issue that needs immediate attention. So, just how diverse is East Midlands skilled trades workforce? By analysing the data, money.co.uk business insurance experts can reveal the demographic differences across the skilled trades sector in the top three UK regions, including East Midlands. The top three female-to-male diversity in the skills trade workforce:
  Female Male
Region Total % Total %
London 4,986 3.42% 140,655 96.58%
South West 2,818 2.36% 116,507 97.64%
East Midlands 1,990 2.35% 82,831 97.65%
Kyle Eaton, money.co.uk business insurance expert, offers tips on how trade businesses can attract diverse talent: “Workplaces focusing on diversity have a range of experiences, opinions and beliefs that can benefit your business, improve morale and solve problems creatively. With this in mind, here are some pointers to attract diverse talent to your skilled trades business:
  1. Review your recruitment strategy
“The first step in attracting and hiring a diverse workforce and fostering inclusivity is evaluating how you appeal to applicants. Start by looking through job descriptions and identifying any language that could put off diverse applicants, including gendered language like ‘tradesman’.
  1. Focus on the positives
“Make sure to highlight the benefits of a career as a skilled tradesperson. As the skills gap keeps widening, working in a trade is in high demand, offering diverse recruits job satisfaction and a steady wage.
  1. Promote a supportive company culture
“When attracting diverse talent in skilled trades, workers want to feel respected, valued and safe. So, make sure to reinforce a supportive company culture. This can mean different things to different people. You could start with acknowledging and addressing a gender pay gap if it exists within your business. You could also provide opportunities for training and education.
  1. Encourage word-of-mouth referrals
“Ask your existing staff to use their networks to attract diverse talent. This means you can hire from a wider pool of potential recruits who might not think a skilled trades career could include them. You could encourage your employees to share a job vacancy with underrepresented groups within their networks to boost your referrals.
  1. Target diverse spaces
“Tailor your recruitment efforts to include places where underrepresented people are more likely to see them. Increasing your visibility in these areas shows you are committed to attracting diverse recruits and makes you a more attractive proposition for them.”

Business funding package to boost Ashfield economy

Tess Egginton
-
0
Business funding package to boost Ashfield economy
Grants worth up to £30,000 are available to businesses across Ashfield thanks to a new scheme aimed at boosting the local economy. Ashfield District Council is offering grants to support the growth of established micro, small and medium sized businesses based in the District. The programme is being funded using some of the £3.2 million allocated to Ashfield District Council from the UK Shared Prosperity Fund (UKSPF). The business grants – which range from £8,000 to £30,000 can be used to support staff training, IT equipment and machinery, marketing, consultancy services, overseas trade visits including conferences, and other project-related expenses. To apply businesses need to be engaged on the Ashfield Accelerator Project and have an eligible project cost of at least £16,000. This is a match funded grant scheme, with an intervention rate of 50%. The scheme will close on 31 October 2024 and any awarded projects must be completed by 31 January 2025 at the latest to be accepted. Diane Beresford is Deputy Chief Executive of East Midlands Chamber, which delivers the Ashfield Accelerator Project on behalf of Ashfield District Council. She said: “We are delighted to be working with Ashfield District Council on this new grant, which will provide a boost to local businesses and the local economy. “We think there will be a lot of interest in the new fund and would urge businesses to get in touch now, talk to an Accelerator Business Adviser and discuss the growth projects they have in mind before all the funds are allocated.” Cllr Jason Zadrozny, Leader of Ashfield District Council, said: “Business investment is crucial as we continue to drive local growth. Ashfield is an area where businesses can thrive, knowing they can access support to help them flourish. This scheme is another fabulous example illustrating our commitment to growing Ashfield’s economy.”

Manufacturers’ output volumes rise for first time in year and a half

Tess Egginton
-
0
Manufacturers’ output volumes rise for first time in year and a half
Manufacturers reported that output volumes rose for the first time since November 2022 in the three months to May, according to the CBI’s latest Industrial Trends Survey (ITS). Manufacturers expect output to rise further in the three months to August, albeit at a modest pace. Order books remain under pressure, with both total and export order books weakening in May. Manufacturers reported that stocks of finished goods were more than adequate to meet expected demand. Meanwhile, expectations for selling price inflation softened, having picked up earlier in the year. The survey, based on the responses of 245 manufacturers, found:
  • Output volumes rose in the three months to May, having been flat or falling in every month since November 2022 (weighted balance of +14%, from +3% in the three months to April). Output is expected to rise modestly in the three months to August (+7%).
  • Output increased in only 8 out of 17 sub-sectors, but this was sufficient to offset flat or falling volumes in the remaining sub-sectors, with the chemicals, food, drink & tobacco and motor vehicles & transport equipment sub-sectors driving overall growth.
  • Total order books weakened in the three months to May, with a net balance reporting order books as “below normal” falling to -33% (from -23%). The level of order books therefore remained below the long-run average (-13%).
  • Export order books were seen as below normal and deteriorated relative to last month (-27%, from -23%). This was also below the long-run average (-18%).
  • Expectations for average selling price inflation softened in May (+15%, from +27% in April), having picked up steadily over the first four months of 2024.
  • Stock adequacy for finished goods improved in the three months to May, with the net balance of firms reporting that stocks were “more than adequate” rising to +14% (from -1% in the three months to April), broadly in line with the long-run average.  
Anna Leach, CBI Deputy Chief Economist, said: “While it’s positive to see that manufacturers’ expectations for higher output volumes have finally been realised in the three months to May, this has been accompanied by a sharp deterioration in order books to close to their weakest since January 2021. “Manufacturers expect to increase output through the summer months, but any recovery looks set to be fairly gradual, with order books soft and inventory levels relatively high. “As the economy is starting to show signs of recovery, now is the time to pursue reforms that will boost growth and investment for manufacturers as well as ensuring the UK’s competitive edge globally. “The CBI’s latest report ‘Tax and Green Investment’ highlights the role that tax policies should play in incentivising green investment to help drive up to £57 billion annually in additional GDP, sending a strong signal to business that the UK is an attractive place to invest.”

Trio of appointments at Rothera Bray

Tess Egginton
-
0
Trio of appointments at Rothera Bray
Rothera Bray, the East Midlands law firm, has made a trio of appointments following the launch of its licensing team at its Nottingham office. The firm has bolstered its services with the addition of three experienced professionals specialising in licensing law. Senior associate Jo Soar, associate Lesley Harper, and senior paralegal Caroline Twist collectively bring over a century of expertise in this domain. The establishment of the licensing team follows the recent appointment of corporate partner David Kaplan. Reflecting on her appointment, Jo said: “I am delighted to join Rothera Bray and eager to lead the team in building upon our success and reputation. We remain committed to serving leading names in the leisure and hospitality industry, continually enhancing our team to meet the evolving licensing needs of clients at both local and national levels.” Christina Yardley, CEO at Rothera Bray, said: “We are thrilled to welcome Jo, Lesley, and Caroline to the firm and expand our core services through the establishment of a dedicated licensing team. Their wealth of experience will further strengthen our ability to deliver exceptional legal solutions to our clients.”

Inflation nears Bank of England target

Tess Egginton
-
0
Inflation nears Bank of England target
Inflation has continued its journey towards the Bank of England’s 2% target, coming in at 2.3% in April, down from the 3.2% reported in March. Measured by the consumer prices index (CPI), it is, however, slightly ahead of forecasts (2.1%). Falling gas and electricity prices resulted in the largest downward contributions to the monthly change, while the largest, partially offsetting, upward contribution came from motor fuels. There were also large downward effects from alcohol and tobacco, food and non-alcoholic beverages, recreation and culture, and communication. Meanwhile, core inflation, which takes out volatile factors like energy, food, alcohol and tobacco to give a clear picture of underlying trends, stood at 3.9% in the 12 months to April 2024, down from 4.2% in March. Alpesh Paleja, CBI Lead Economist, said: “A big fall in inflation was always on the cards for April, given Ofgem’s 12% cut to the energy price cap. Households and businesses will welcome a more benign inflationary environment, but it’s worth noting that many will still be struggling with a high level of prices, particularly in food and energy bills. “Today’s data further sets the stage for interest rate cuts in the coming months. While the Monetary Policy Committee is likely to reduce interest rates over the summer, they are still holding out for more definitive falls in measures of domestic price pressures. “It’s encouraging that pay growth is now a touch below the Bank of England’s forecast, but there’s still a long way for it to get closer to levels consistent with inflation at target. “The Bank will also be mindful of growing upside risks to inflation in the near-term: with the growth outlook improving at home, and tensions in the Middle East threatening to stoke commodity prices and supply pressures globally.”

Leicester rag trade £1.3m tax fraudsters handed jail terms

Stuart Pearcey
-
0
Leicester rag trade £1.3m tax fraudsters handed jail terms
The directors of a Leicester clothing company that supplied high street and online retailers have been jailed for a £1.3m tax fraud. Hifzurrehman Patel, 40, and Ehsan-Ul-Haque Dawood Patel, 46, set up a sophisticated network of front companies to evade VAT between 2014 and 2017. They were caught after a specialist rag trade taskforce made an unannounced visit to their Midlands Trading Ltd factory in December 2015. The taskforce, which included officers from HMRC, became suspicious when staff clock cards completely disappeared during a tour of the factory while the business also handed over false invoices. Investigators discovered the pair had been diverting VAT liabilities to a string of front companies, by claiming they produced clothes on their behalf. It meant they evaded paying £1.3m of VAT on the clothes they were in fact producing themselves and selling on to unsuspecting high street and online retailers. The pair were jailed for a total of nearly nine years at Leicester Crown Court on 17 May 2024. Hifzurrehman Patel of Evington Parks Road, Leicester, was sentenced to five years in prison having been convicted of conspiracy to evade VAT, contrary to section 1(1) of the Criminal Law Act (1977), and two counts of money laundering. Ehsan-Ul-Haque Dawood Patel, of Homeway Road, Leicester, was sentenced to 47 months in prison having been convicted of conspiracy to evade VAT, contrary to section 1(1) of the Criminal Law Act (1977), and two counts of money laundering. Mark Robinson, Operational Lead in HMRC’s Fraud Investigation Service, said: “Hifzurrehman and Ehsan Patel carried out a relentless and sustained attack on the tax system. They invented contracts and forged documents to evade VAT. This is money that should have been helping to fund our public services and was instead spent on cars and property. “Tax fraud is not a victimless crime. It has real consequences for the public services we all rely on and we are working hard to ensure tax cheats do not gain an unfair advantage over their law abiding competitors.” Paula Lloyd, Specialist Prosecutor in the Crown Prosecution Service, said: “While other businesses were doing the right thing by paying their taxes, these criminals thought they could enjoy a cushy lifestyle paid for hardworking taxpayers. “The CPS will be taking them back to court to confiscate any goods or assets they bought using money from their offending. “We are determined to ensure tax dodgers face the full consequences and hopefully this will make others think twice before they do the same.” A further three people were convicted for their roles in the fraud. Pravinbhai Purshotam Valland, 54, was handed a suspended two-year prison sentence at Leicester Crown Court on 17 May 2024. Mohsin Dawood Patel, 42, and Munaf Yusuf Banglawala, 62, will be sentenced at the same court on 21 June 2024.

Final handover of family homes for new Bestwood community

Tess Egginton
-
0
Final handover of family homes for new Bestwood community

Vistry Group, the provider of affordable mixed-tenure homes, has celebrated the final handover of new family homes at their Ridgeway development in Nottingham. The final home was completed and handed over 20 months after the development received planning permission.

 

Situated on a 4.2-acre brownfield site in the Bestwood area of Nottinghamshire, the 71 one-, two-, and three-bedroom properties comprise 33 affordable homes, built on behalf of Nottingham City Council and 38 homes for private rent through Start Living, the single-family build-to-rent platform established by Gatehouse Investment Management and TPG Real Estate Partners.

 

All the homes were built using modern methods of construction (MMC) reducing the carbon footprint of every property. The properties were manufactured off site using open panel timber frames from the Vistry Works East Midlands factory in Bardon in neighbouring Leicestershire. Each home built using these panels emits 14,460kg CO2e less than a traditional brick-and-block house and has a faster construction time.

 

The development’s completion heralds a new era of enhanced living standards for residents and the local community, with landscaping, public open spaces, and road improvements. The wider community has also benefitted from investment with £1,911,255 towards local educational and a further £85,764 going to other services.

 

Lee Parry, Managing Director of Vistry North East Midlands, said: “We are thrilled to mark the successful handover of the final homes on our Ridgeway development. This milestone represents not just the final stages of this project but also the beginning of a new chapter for the residents as this new community flourishes.”

 

Councillor Jay Hayes, Portfolio Holder for Housing and ward representative for Bestwood at Nottingham City Council, said: “I’m delighted to see these new properties reach completion, ready to become family homes in a part of the city with high levels of housing need. We’re creating new communities that everyone who lives in the area will benefit from.

 

“The amount of housing being delivered currently in Nottingham is a positive sign and it’s also a clear indication of the willingness for developers to invest here. Construction activity has a large and positive impact on jobs and the local economy, so this is great news for Nottingham.”

 

John Coles, Head of Acquisitions at Gatehouse Investment Management, added: “Ridgeway was one of the first Start Living locations to be acquired, forming part of our wider investment in the area, and it is hugely pleasing to see the final properties delivered.

 

“Many residents are already enjoying the high-spec homes and fantastic local amenities that Ridgeway has to offer, and we look forward to more families moving into these last few homes. We are also due to launch an additional 64 plots at the adjacent Padstow site in the coming months, which is already generating strong interest.”

Housebuilder’s £3.5million investment helps create thriving communities across East Midlands

Michael Fisher
-
0
Housebuilder’s £3.5million investment helps create thriving communities across East Midlands
An East Midlands housebuilder has pumped more than £3.5million into improving local communities. Redrow East Midlands, which is currently building at seven developments across the region, has made a significant investment into all its surrounding communities – over £3.5million – and isn’t finished yet. With developments proving popular with buyers looking for their dream home, Redrow East Midlands has been hard at work supporting the surrounding areas, providing funds to support local education services, infrastructure and biodiversity. Supporting local bio-diversity a key priority, and the developments have seen hundreds of pounds poured into the creation of animal-friendly spaces, with woodland planting and meadow grasslands aimed at making the developments a sanctuary for nature, as well as residents. Across Leicestershire, Redrow has invested over £752,000, with a further £706,000 still to be invested in supporting local communities to thrive. At Foxbridge Manor, in Castle Donington, Derbyshire, over £1.2million has already been invested in the local community, with a further £1.1million still to be invested – including in local youth and adult facilities, and support for local recreational grounds. Meanwhile, at Redrow at Nicker Hill, Nottinghamshire, over £600,000 has already been invested into local health and education services, as well as funds to help maintain the local bus stops and provide bus taster tickets to local people. Further contributions of almost £200,000 are underway to improve local sports facilities and swimming pool. The housebuilder is also implementing measures to reduce its carbon footprint, closely monitoring its water, electricity and gas usage to reduce environmental impact as much as possible. Ryan O’Sullivan, Sales Director for Redrow East Midlands, said: “We are thrilled to be continuing to support East Midlands communities and improving the sustainability of our already popular developments, while bringing much-needed homes in the region. Our commitment to creating thriving communities benefits the local area, our residents and those looking to move in the future. “With investment in local education providers, youth and adult facilities, and biodiversity, we are proud of the difference we’ve made so far and are excited to continue supporting the region. “Our developments are proving incredibly popular with buyers and we’d encourage anyone looking to purchase a new home to come along and chat to our friendly team about how we can help you find your dream home!”

New Leader and Deputy Leader of Nottingham City Council officially appointed

Tess Egginton
-
0
New Leader and Deputy Leader of Nottingham City Council officially appointed
The new Leader and Deputy Leader of Nottingham City Council have been officially appointed. Councillor Neghat Khan and Councillor Ethan Radford are the youngest team to hold the top two council positions in Nottingham. Councillor Khan was officially appointed as Leader at a formal city council meeting on Monday evening (20 May). She is the first woman of colour to be Leader and only the second woman to hold the role. Councillor Khan, who represents the Dales ward in the city, leads the majority group of Labour councillors in Nottingham. Councillor Ethan Radford was appointed as Deputy Leader. He has served as a councillor for Bulwell since 2019 and has worked with the Executive group of councillors for the last two years. They replace councillors David Mellen and Audra Wynter who have been Leader and Deputy Leader since 2019 and 2023 respectively. Councillor Khan, who has been a city councillor for 10 years, said: “I’m proud to serve as Leader of the Council. I am ambitious for Nottingham, where I was born and grew up. I care about the people who live, work and study here and I want only the best for our neighbourhoods and communities. “Nottingham is a diverse city and it now has its first British-Asian leader. I hope that young women and young people of colour from Nottingham, like my son who is 12, see that there should be no barrier to their ambitions and aspirations. “It is no secret that Nottingham faces significant challenges, but I have never shied away from a difficult situation. I will work with senior officers and Government Commissioners to drive forward the changes needed to continue the council’s improvement journey. The people of Nottingham deserve nothing less. “Money remains tight, and we know that further difficult decisions will be needed. However, I believe that cuts to our funding does not mean we can’t afford to be ambitious; it means we can’t afford not to be. What Nottingham needs now more than ever is politicians ready to rise to the challenge facing us, setting a renewed vision for our city, and achieving the promises we made when we were given a clear mandate from the public at the last local election. “I would like to pay tribute to Councillors David Mellen and Audra Wynter for their hard work and dedication as the previous Leader and Deputy Leader. They have helped to lay the foundation for significant changes and improvements in Nottingham – not least their work to secure the devolution deal that will now see us working closely alongside the Mayor of the East Midlands, Claire Ward, to fight for a fairer share of funding for the city. “I’m clear that our council cannot work in isolation. I want to work with partners, businesses and the voluntary sector to give Nottingham a fresh start.” Councillor Radford said: “I’m honoured to be appointed as Deputy Leader of the Council – and I am determined to deliver improvements for the people of Nottingham. “We have all lived through the last 14 years of austerity and reduced funding to public services which have, in turn, led to cuts to the services we all rely on. Public services are in crisis. These difficult times have led to real challenges in delivering on our ambitions for Nottingham but it is vital that we remain ambitious for our city. “The leaders of this city need to be united, pulling in the same direction with a shared vision for our city, built on a solid foundation of trust. Neghat and I have worked together for a number of years and have skills and abilities that together cover a wide area and complement each other. We offer Nottingham strong political leadership focussed on fulfilling our promises to voters, delivering for residents by working with the regional mayor and the Police and Crime Commissioner. “We want to protect services and jobs, and optimise every pound spent in Nottingham. By targeting root causes of major cost areas to the authority, we can reduce costs but maintain value, support communities, and invest in Nottingham’s future.” Councillor Khan will also be Executive Member for Strategic Regeneration, Transport and Communications, and Councillor Radford the Executive Member for Skills, Growth and Economic Development. The Leader and Deputy Leader are joined by a Cabinet of six Executive Members who were also confirmed at the Full Council meeting:
  • Councillor Linda Woodings, Executive Member for Finance and Resources
  • Councillor Cheryl Barnard, Executive Member for Children, Young People and Education
  • Councillor Jay Hayes, Executive Member for Housing and Planning
  • Councillor Corall Jenkins, Executive Member for Communities, Waste and Equalities
  • Councillor Pavlos Kotsonis, Executive Member for Adults Social Care and Health
  • Councillor Sam Lux, Executive Member for Carbon Reduction, Leisure and Culture
1...397398399...1,135Page 398 of 1,135