Microlise hails “good trading” in 2023 as revenue rises

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Microlise hails “good trading” in 2023 as revenue rises

Microlise Group, a Nottingham-based provider of transport management software to fleet operators, experienced “good trading” in 2023 with results expected to be ahead of market expectations.

According to an unaudited trading update for the year ending 31 December 2023, revenue is anticipated to increase by 13% to £71.7m, up from £63.2m in 2022, with adjusted EBITDA growth of 14%, slightly ahead of market expectations.

The Group added 450 new customers during the year with key customer wins including McCulla, BCA/ECM, LF&E and two significant customer wins in Australia. Microlise also extended its relationships with numerous existing customers including Tesco, Culina and Bidfood. Microlise announced two acquisitions in 2023 for a total maximum consideration of £10.6m. This included the acquisition of Vita Software, which completed in March 2023, and Enterprise Software Systems (ESS), which completed in January 2024. A third acquisition of K-Safe completed in December 2023, with the announcement in January 2024. Microlise expects to deliver strong revenue growth in FY24, driven by further organic growth and recent M&A.

Nadeem Raza, CEO, Microlise, said: “Trading momentum improved in the second half supported by an increase in delivery to direct customers towards the end of the period and strong uptake from OEM customers. This continues to drive double digit growth in ARR, an increasing base of recurring revenues and good cashflows.

“The three acquisitions made during the period have resulted in an improved and expanded offering which is already having a positive effect on trading momentum and pipeline. This, together with the resolution of the microchip supply crisis, gives us confidence in the Group’s continued success.”

2024 Business Predictions: Andy Priestley, Managing Director of DSP (Interiors) Ltd

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2024 Business Predictions: Andy Priestley, Managing Director of DSP (Interiors) Ltd
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 Andy Priestley, Managing Director of DSP (Interiors) Ltd. As the economy finally shows signs of recovering from the slow-down triggered by soaring inflation and multiple interest rate rises, we expect to see an upturn across a number of sectors in 2024. This includes UK manufacturing, but predominately service sectors such as laboratories, research and development, and other service sectors such as IT (particularly considering the inevitable influence of Artificial Intelligence). I predict there will continue to be increasing demand for manufacturing facilities, fueled by the dynamic evolution of ‘factories of the future’ – future-oriented manufacturing companies that embrace industry changes. Research from S&P Global UK manufacturing and the Chartered Institute of Procurement and Supply’s index for manufacturing supports my views, suggesting signs of stronger demand with 53% of companies in the industry intending to expand activity over the coming year, linked to a wider economic recovery and a stabilisation of market conditions. Likewise, the emphasis on personal health following the pandemic, rising concerns about getting a GP appointment and a growing market for personal health screening have all contributed to increasing demand for UK laboratories and Science R&D manufacturing facilities that focus on a range of health supplements and services. We have personally seen this in our projects for SureScreen Diagnostics and Nutrivitality. Over the past 12 months we have created a large new facility for the R&D and manufacturing of health supplements to assist their exponential growth. SureScreen predict that in the near future their health screening products will help the NHS become more efficient by identifying ailments sooner and help direct patients to the correct health service. Another effect of the pandemic has been the increase in demand by employees to have the ability to work from home for at least some of the week. This has fuelled the ‘hybrid office’ revolution. We are seeing this time and time again from our clients with larger office spaces that are looking to entice their workers back into the office more. We have been creating agile workspaces for a number of years, but the hybrid working has been a catalyst for the changing office landscape. Rather than rows of open plan workstations, clients are looking to better support the way their staff want to work, providing a variety of workspace types – assisted by the developments in connective technology and ensuring adequate acoustics. There is also a much greater awareness of the importance of staff well-being through healthier building fit outs. Having reached the peak of the mortgage rate rises it is widely thought that rates will fall this year, encouraging capital investment in commercial property. This is echoed by the rising demand for quality commercial premises and the speed in uptake from listing. Here at DSP (Interiors), we have seen we a significant increase in orders across all these sectors. This is partly due to the changing face of the sector, but also our design and fit out expertise. Over the past 12 months, we have worked with a dynamic range of businesses, including SureScreen Diagnostics and Nutrivitality, where we delivered new state-of-the-art production facilities at Sherwood Business Park in Nottingham. The flexible, agile nature of the facilities have allowed both companies to adapt their technology quickly and efficiently to address new challenges facing both the UK and overseas. We are currently delivering a turnkey project for the Hayley Group, a leading supplier to Rolls-Royce Plc, and MasterMovers who specialise in electrical tugs. Both turnkey projects involve transforming empty building shells into large bespoke offices and warehouse facility to accommodate continued expansion. 2024 promises to be a year of renewed growth, with those companies with a commitment to innovation and adaptability across their factories and supply chains well-positioned to thrive.

Development of new affordable Stapleford homes to bring new life to disused land

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Development of new affordable Stapleford homes to bring new life to disused land
Development is well underway on 24 new affordable rent homes for Tuntum Housing Association on Nottingham Road in Stapleford. Sitting on the outskirts of the town centre, the homes will bring new life to disused land that was formally owned by Ford. The finished scheme will offer 15 two-bed flats and nine three and four bedroom homes. Nottingham Community Housing Association (NCHA) is developing these new homes for Tuntum Housing Association, as part of a wider deal to deliver 68 new-build and renovated homes by 2028. The £5.6m development is being built by Nottingham-based MyPad. Designed to energy rating B, all the homes will be fitted with PV panels; heating in the houses will come from high efficiency gas fired boilers, while electric panel heating will warm the flats. The finished homes will be owned by Tuntum and let at an affordable rent through Broxtowe Borough Council to support housing need in the area. NCHA, Tuntum and MyPad met with The Mayor of the Borough of Broxtowe, Councillor Teresa Cullen for a tour of the site. She said: “Affordable homes are desperately needed so I was honoured to visit the site of these new homes in Stapleford, as well as hear about how the developers are working to make them more energy efficient. I can’t wait to see what they look like when they’re finished.” Charmaine Simei, Chief Executive at Tuntum Housing Association, said: “I’m delighted to see this development well underway and look forward to monitoring our progress as we move closer to handover. “This is a great example of partnership working and would like to thank NCHA and MyPad. This is a great location and will go some way to providing much-needed family homes for the people of Broxtowe.” The homes are due for completion from November 2024.

2024 Business Predictions: Paul Morris, development director, St James Securities

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2024 Business Predictions: Paul Morris, development director, St James Securities
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 Paul Morris, development director at St James Securities. I always like to start a year on a positive note, and I do see light at the end of the tunnel, having worked through the challenges faced in the previous year. We have survived another tumultuous year for the UK economy, with record inflation, multiple interest rate rises, supply chain issues, and higher construction costs presenting challenges for the construction sector. Build costs have continued to climb and values soften, which has caused viability challenges. Looking forward, however, as we prepare for a rebound from the economic slowdown, this should begin to stabilise, which should stimulate activity across various sectors. Lots of schemes stalled in 2023, leading to a drop in output. I expect there to be a modest growth this year, which, although not at the same levels as 2022, is nevertheless a sign of positive change and should foster increased consumer and business confidence. Subject to no more destabilisation caused by wars, inflation will continue to drop, but whether we hit the Office for Budget Responsibility’s (OBR) prediction of 2.8% is a subject for discussion. I believe bank interest rates will come down slightly and sooner than imagined. I think we will see a half point reduction by mid-2024. We are already seeing changes in the bond market with government stocks starting to come down. If bank rates and interest rates continue to come down, property yields will sharpen and values will start to go up, which will begin to bridge the viability gap. The housing shortage led to significant growth in the Build to Rent (BTR) sector in 2023, which shows no sign of slowing down in 2024. In fact, the BTR sector remains one of the few sectors that continues to go from strength to strength. Lots of money is available to be invested in BTR schemes, but finding the right deals remains challenging. The relationship between construction costs and property values is an issue too, but I do predict we will see a pick-up in values during the year. Here in Derby, we are currently considering additional phases of housing including more BTR as part of the £230m Becketwell development, which will meet the demand for high quality housing in the city centre. The hotel market also remains strong, and I see the demand for new beds across the board from budget to higher end continuing to increase over the next few years. More and more businesses are reassessing their accommodation strategies and considering a move towards flexible office space, and this is set to continue into 2024 and beyond, with hybrid working now part of the fabric of the workplace.

Wavensmere Homes partners with Down to Earth Derby on Nightingale Quarter community garden

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Wavensmere Homes partners with Down to Earth Derby on Nightingale Quarter community garden
Wavensmere Homes has commissioned Down to Earth Derby to create an expansive community garden within the 18.5-acre Nightingale Quarter, in Derby city centre. If the £40,000 pilot project is successful, it will be rolled out across the housebuilder’s city-wide development portfolio. Linked with Cornwall’s eco-focused Eden Project, Down to Earth Derby is the Community Interest Company (CIC) behind the city’s Electric Daisy attraction. By connecting the urban community with nature-based activities and a diverse events programme, it has become a nationally recognised symbol of the ambitious regeneration and revitalisation of the burgeoning East Midlands city. Once the designs for the community garden at Nightingale Quarter have been finalised, the work to transform the outdoor space into a magnet for nature, wildlife and people will commence. The interactive garden and allotment space is expected to be unveiled during late spring 2024. James Dickens, Managing Director of Wavensmere Homes, said: “When I first visited Electric Daisy last year, I was inspired by the way local people of all ages are brought together throughout the week to enjoy and learn about the power of nature. As Derby’s most active residential developer, I could see the opportunity to create something very special and spread the infectious ethos of Down to Earth Derby to our developments. “What we will be delivering at Nightingale Quarter in the coming months isn’t part of a planning obligation. I am very proud and excited that this pilot project will be a living test bed that could ignite a national appetite for funded community gardens.” Nightingale Quarter has brought about the restoration and redevelopment of the Derby Royal Infirmary, including the two iconic pepper pot buildings – built in 1894. Pepper Pot South will be transformed into a residents’ gym and community meeting room, once the 925 new houses and apartments complete in 2025. Pepper Pot North accommodates The Fulton Partnership’s £1m Pepperpot restaurant, which is opening on 14th February. Construction is also well underway for MacArthur House, which will contain 118 one- and two-bedroom apartments. Situated at the front of the development, overlooking London Road, construction work on a final residential building is due to commence later this year. Jamie Quince-Starkey, founder of Down to Earth CIC, said: “My mum worked at the Royal Derby Infirmary, so to have the opportunity to create a community garden at the Nightingale Quarter development fills me with pride. “James and the Wavensmere team understand the importance of purposeful living and the wellness benefits of inspiring people to be active and engaged with nature and gardening. Regular allotment meet-ups can be the catalyst to bringing a new community together, while also having a transformative impact on mental health. “With biodiversity net gain becoming a planning obligation for all future developments, we are already looking into impact reporting that could measure the tangible benefits of the Nightingale Quarter community garden, and hopefully many more to come.” Down to Earth Derby sees the key to success of this pilot project being regular facilitated sessions, events for all ages, and garden maintenance throughout the year. The facilitated sessions will be designed to empower residents to actively participate in the care and maintenance of the space, promoting a sense of shared responsibility. By working alongside residents, the organisation will aim to instil a sense of ownership – reducing the need for paid upkeep – while creating a sustainable and community-designed outdoor sanctuary. A food forest, woodland zone, clean composting area, raised planting beds, bug hotels and bird house making are amongst the detailed plans for the Nightingale Quarter community garden. Florence Nightingale lived in Derby for three years and was instrumental in designing the Royal Infirmary hospital, which received the Royal Stamp of Approval when it was opened by Queen Victoria in 1894. An original statue of Queen Victoria has been preserved and restored by Wavensmere Homes to ensure her legacy stands strong. Wavensmere Homes has submitted plans for the 11.5-acre (4.96Ha) historic Friar Gate Goods Yard elsewhere in central Derby, which could be transformed into 276 houses and apartments, and over 110,000 sq ft of commercial space. The firm has also submitted planning with Wilson Bowden Developments for 186 apartments, occupying one of the final plots of development land within Derby’s newly revitalised Cathedral Quarter. In late 2023, Wavensmere Homes received the green light from Amber Valley Borough Council for its revised plans for the £22m redevelopment of Milford Mills, which overlooks the River Derwent, located between Belper and Duffield in north Derbyshire. 69 new homes will now be delivered on the historic site, which is within the Derwent Valley Mills UNESCO World Heritage Site.

Planning permission granted for new mixed-use scheme in Glen Parva

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Planning permission granted for new mixed-use scheme in Glen Parva

IMA Architects has successfully secured planning permission for a new mixed-use development in Glen Parva, Leicester.

Working in partnership with its client Anglia Healthcare the plans will see the redevelopment of the current Anglia Healthcare and Mobility shop on Little Glenn Road to create a mixed-use scheme with retail on the ground floor and residential across two floors above.

IMA’s plans feature a more modern aesthetic that makes best use of the plot, maximising on space available. It will include much needed, high quality residential units comprising seven duplex apartments.

The ground floor retail space will become Anglia Healthcare’s new mobility showroom. It will provide a much-improved retail space for the company with associated office space, amenities and parking.

Anthony Day, Managing Director of IMA Architects, says: “Securing planning permission for this site had been a complicated process. When we were brought in, the process had already been going on since 2021 so I am pleased that our designs for this area of Little Glen Road have been approved and that work will soon begin on site.”

Ideagen moves closer to next acquisition

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Ideagen moves closer to next acquisition
Ideagen has moved a step closer to strengthening its environmental, health and safety (EHS) capability after Damstra, an Australian EHS business listed on the Australian Securities Exchange, entered into a Scheme Implementation Deed with the Nottingham-headquartered software company. Under the terms of the scheme, Ideagen will acquire 100% of the fully diluted share capital. The Damstra Board (including the independent board committee formed for the purpose of considering the Scheme) unanimously recommended that Damstra shareholders vote in favour of the Scheme. Ideagen CEO Ben Dorks said: “Ideagen provide regulated industries with the clarity and confidence to turn risk to resilience, and the addition of Damstra’s market-leading workforce and asset management solutions will enhance this. “We’ve made significant investment in the Asia Pacific region and intend to continue to grow our presence in Australia. Existing Damstra customers will benefit from Ideagen’s broader resources and we intend to use our global footprint to introduce Damstra’s capabilities to a wider customer base. “It’s a great fit into our existing portfolio and we’re excited about the product and its people, driving great value for customers.”

Profit warnings from UK-listed companies in the Midlands fell by 21% in 2023

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Profit warnings from UK-listed companies in the Midlands fell by 21% in 2023

Listed companies in the Midlands issued 31 profit warnings in 2023, a decrease of 21% on the previous year, according to the latest EY-Parthenon Profit Warnings report.

In Q4 2023, nine warnings were issued by companies in the region, the same as Q3 and the highest quarterly total since Q4 2022. The number of warnings issued during this quarter is down by over a third (9) on the same period (October – December) in 2022.

Companies within the Midlands operating in Industrial and Consumer Discretionary FTSE sectors continued to issue the highest number of profit warnings (eight) in Q4 2023.

This is comparable to the broader national trend, with FTSE Consumer Discretionary sectors issuing the most profit warnings in the UK during Q4, accounting for 35% of all warnings during this period.

Dan Hurd, a partner at EY-Parthenon in the Midlands, said: “Pressures caused by high inflation rates continued to effect businesses in the region and while this will ease as we navigate 2024, growth is likely to remain slow. Many companies will also continue to face challenges with high debt service costs and ability to refinance.

“Traditional funders will be cautious in investing in sectors with high consumer discretionary exposure and businesses may need to look for new avenues for capital, such as sourcing alternative lenders or seeking equity injections.

“The volatility of global events, including the forthcoming US and UK elections will create an element of uncertainty which will inevitably affect the economy, however, regardless of the outcome of these events, businesses will need to focus on the fundamentals and plan ahead if they are to remain resilient.”

York IT services provider acquires Kettering business

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York IT services provider acquires Kettering business
boxxe, the York-based IT services and solutions provider, has acquired Kettering-headquartered Total Computers. boxxe owner Phil Doye had previously acquired a minority stake in Total Computers in November 2022. Total has a rich heritage as a partner of choice for many of the UK’s most successful and recognised companies, and through its own acquisition of Overbright in 2022, it added deep digital transformation expertise. This acquisition creates one of the UK’s largest providers of software, solutions and services to both the public and private sector.
boxxe has grown rapidly since Phil Doye acquired the business in 2019, with revenue for 2023 expected to be around £440m.
Phil Doye said: “I had known and admired Total for many years but as a shareholder and director for the past 12 months I have seen firsthand the depth of what Aidan and Kevin have built. “The combination of these two businesses is uniquely complimentary and I am hugely excited that this move will enable both companies to better serve our customers and partners.”
Aidan Groom, CEO of Total Computers, said: “Working with Phil over the past 12 months has challenged our ambition for what Total can become. We have created something special at Total, but this is the next step in the evolution of our company. “For both companies it allows us to grow faster and become even more relevant to our customers through a wider range of partner accreditations, deeper technical skills and greater financial strength and scale.”
Kevin Goodall, who has become Managing Director of Total, said: “The most common feedback I get from our customers is that we want to do more with you, but you don’t have the financial scale or range of partner certifications that Computacenter, CDW or Softcat has. “To be part of the boxxe group is hugely exciting as it gives us a more complete portfolio and financial scale that enables us to think bigger and be even more ambitious.”
Doye added: “The IT channel has, over the past number of years, seen the largest players get bigger and the small ones either specialise, struggle or get acquired. “This deal marks a pivotal moment in the journey of boxxe. With the acceleration of digital transformation, the continued growth of public cloud and the proliferation of software companies it’s critical that a partner can deliver across this landscape.”

Boston Borough Council refuses to support proposed devolution deal

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Boston Borough Council refuses to support proposed devolution deal

Boston Borough Council says it cannot support the Devolution Deal that is proposed for Greater Lincolnshire.

After seeking views from all Councillors, the Leader of the Council, Councillor Anne Dorrian, has now formally written a response on behalf of the council to a consultation into the proposed deal and Mayoral Combined County Authority arrangements. At Full Council on Monday 15 January, Councillors voted unanimously to reject the proposals in their current form, with specific concerns relating to the deal itself and its governance, which Boston Borough Council says at present does not give all District/Borough Councils a voice on the Mayoral Combined County Authority. The Deal negotiated with Government by the upper-tier councils includes:
  • £24m per year for 30 years.
  • £28.4m to Greater Lincolnshire for 2024/25, to be allocated prior to the Mayoral Combined County Authority being established in 2025.
  • The devolution of strategy and budgets related to skills; and multi-year transport budgets, with flexibility to allocate funds to local priorities.
Councillors were concerned that none of the projects put forward by the council for a share of the initial £28.4m funding pot for 2024/25 were supported by Lincolnshire County Council. They also noted from data in the council report that over the past five years, Boston has received significantly less investment from Lincolnshire County Council for major infrastructure investment in recent years when compared to other areas in the county. The consultation response states the council has little confidence that this will change going forward if the deal proceeds. Cllr Anne Dorrian, Leader of Boston Borough Council, said: “The council speaks with one voice and is being very clear – this is not a deal we can support. “Whilst the council welcomes the transfer of Government powers to the local area, it must come with appropriate funding that can make a real impact for our communities. This deal simply does not do that for Boston Borough or wider Lincolnshire. “Council has confirmed a view that I have shared on several occasions with the upper tier councils that all district/borough councils must be represented on the Mayoral Combined Authority. “Numerous times the Leaders of district/borough councils asked to be directly involved in the deal negotiations but until very recently the detail was unknown to us. Had we have been engaged sooner and in a meaningful way we could have maybe helped secure a better deal for Greater Lincolnshire. “The deal, at present, does not outweigh the cost to our communities of introducing a Mayoral Combined County Authority with a Directly Elected Mayor who can raise a precept for our residents to pay at a time of serious financial hardship for many.” The council also has concerns over the deal document where there are significantly important details still to be resolved and has also raised concerns about the public consultation process.
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