Profit warnings issued by listed Midlands companies almost half in Q1 2025

Listed companies in the Midlands issued seven profit warnings in Q1 2025, a 46% decrease from the 13 issued in Q4 2024, according to the latest EY-Parthenon Profit Warnings report. Nationally, UK-listed companies issued 62 profit warnings between January and March 2025, an 11% year-on-year fall. However, the proportion of listed firms to warn in the last 12 months remains high (18%). Midlands companies in the FTSE Consumer Discretionary and Industrials sectors issued the highest number of warnings, with two each. However, the Consumer Discretionary sector experienced a 22% decrease in warnings compared to the previous quarter, while the Industrials sector remained unchanged. Other sectors which reported warnings include Technology, Healthcare and Basic Materials. Jo Robinson, EY-Parthenon partner and UK&I turnaround and restructuring strategy leader, said: “The first quarter of 2025 may now feel like a different era for many businesses, but the latest profit warnings data reveals underlying weaknesses that will be magnified by recent tariff disruptions and the resulting economic fallout. “Nearly one in five listed firms issued a warning in the last 12 months and that’s a level typically associated with a period of economic shock. “UK businesses have faced unprecedented challenges in recent years and have developed admirable levels of resilience in response, which should serve many well as the global economy navigates the coming months of uncertainty. At times like these, businesses must focus on staying nimble by planning for a range of different scenarios and continuing to build operational and financial resilience.” Contract cancellations continue to be leading factor for profit warnings The leading factor behind profit warnings in Q1 was contract and order cancellations or delays, cited in 40% of warnings – the highest percentage recorded for this cause in 25 years of EY’s analysis. Policy change and geopolitical uncertainty (26%) and labour market issues (18%) were cited as the other main drivers for warnings during Q1. So far in Q2, half (50%) of the profit warnings issued by UK-listed businesses in April cited the direct or indirect impact of tariffs and resulting recent global trade disruption. The average share price fall on the day of warning also climbed, up from 13% in Q4 2024 to 17% in Q1 2025 and almost a fifth (19%) in April 2025. Claire Gambles, EY-Parthenon turnaround and restructuring strategy partner in the Midlands, added: “UK companies have faced many challenges in recent years, but ongoing global trade disruption has the potential to bring even more substantial and far-reaching repercussions. Demand and supply shocks from the pandemic and geopolitical events were significant but primarily cyclical disruptions, whereas major changes to international trade policy may have more enduring effects. “Naturally, these changes won’t happen immediately, and companies will need to balance immediate responses, such as strengthening financial resilience, with strategic shifts, whether by reassessing supply chains and pricing models or exploring new global partnerships, to help respond to further uncertainty over the coming months.”

The subtle changes making a big difference to workplace culture

Small adjustments often have more influence than sweeping reforms. Many companies are noticing how day-to-day experiences shape attitudes, performance, and satisfaction. Shifting a workplace’s culture doesn’t always require complex strategies or overhauls. It often starts with practical, measured improvements that respond directly to what teams actually need. When staff feel supported in how they move, interact, and focus, they’re more likely to engage with their work fully. Making these changes requires attention to physical environments as much as company values. Flexible layouts that put people first Offices that adapt to different tasks and work styles help people perform better. Creating a single space that serves everyone equally can lead to distractions, tension, and low morale. Instead, businesses are exploring layouts that accommodate deep work, informal collaboration and casual conversation, each with their own space. This doesn’t always require new furniture or renovation. Repositioning desks, rearranging meeting areas and introducing small quiet zones can lead to noticeable improvements. Offering a mix of private and shared areas clearly conveys that individual needs matter. Teams become more productive when they have room to choose how they work best. Supporting change through refurbishment projects A refurbishment project can support lasting improvements when offices need more than a few minor changes. Many organisations now work with experienced providers who specialise in office fit-outs. These professionals assess how a space is used and help companies make decisions based on workflow and team habits. Partnering with an external fit-out team allows businesses to refresh their layout without taking on the full weight of planning alone. The goal isn’t to redesign for style but to create functionally improved environments. Practical fit-out solutions often involve enhancing lighting, noise control, and space management to support better outcomes for staff. Companies have adopted this approach to transform existing offices into spaces that match both brand values and practical needs. These projects often result in more motivated, better-connected teams. Lighting and acoustics: the underrated influencers The quality of lighting and sound directly affects focus, comfort and wellbeing. Many workplaces still rely on old fittings and layouts that ignore how noise carries or how light changes throughout the day. This contributes to eye strain, fatigue, and stress among staff. A simple lighting review can identify areas where natural light is underused or where artificial sources cause glare. Updating fixtures or introducing adjustable lamps can improve visibility and reduce headaches. Soundproof panels, partitions and acoustic screens can help create quieter zones, especially for roles that need high concentration. During internal surveys, staff often mention light and noise levels, but those insights don’t always reach decision-makers. Reviewing this feedback regularly is one of the simplest ways to improve satisfaction without large-scale investment. Design that supports daily habits Well-planned offices pay attention to everyday routines. That means thinking beyond desks and seeing how people move through their day. Where do they take short breaks? How do they store and access supplies? Where do spontaneous conversations happen? Spaces designed around these small but frequent actions help teams feel more settled. Adding shelves near task areas or providing easy access to shared equipment reduces wasted time. Creating informal break spots encourages more natural conversations between colleagues who might not usually work together. A more personal touch in shared spaces Shared spaces feel more engaging when staff have input. Allowing teams to choose small design elements, such as art, noticeboards or soft furnishings, helps them feel part of the environment. That sense of ownership can support greater commitment to shared goals. Even introducing rotation in how breakout rooms are decorated or inviting departments to suggest changes to shared kitchens can increase interest in maintaining and using these areas. People feel connected to the space and treat it with more care and attention. Take action on workplace improvements Improving workplace culture doesn’t always involve big gestures. The most effective steps are often taken quietly, based on direct input and real needs. Shifts in layout, lighting, shared areas and daily routines make offices feel more responsive and respectful. Now is a good time to examine how your space supports your people. Speak with your team. Observe how the office is used. Start with what you have and work with specialists when needed. Making the right changes creates a workplace people enjoy being part of every day.

Employee engagement rises but inequalities divide the workforce, warns survey

A national survey of more than 4,000 UK workers has revealed that while employee engagement has seen its first rise since the pandemic – climbing 3% to an average of 65% – inequalities continue to divide the workforce. The annual Engage for Success survey, run in partnership with Nottingham Business School, part of Nottingham Trent University, directly questioned a diverse and representative sample of employees across all sectors, industries, organisational sizes, and regions of the UK. Using resources and expertise from Stillae Ltd and the Involvement and Participation Association, it explored current emerging issues influencing engagement – including organisational practices, hybrid working, health and wellbeing, bullying and harassment, and leadership. Despite the rise for the first time in three years – since the survey began – engagement remains below pre-pandemic levels, and findings reveal a stark divide between UK organisations which prioritise their people, and those which do not. Two in five employees work in organisations that actively embed people-focused issues into decision-making. With engagement levels of 77%, they reported more positive attitudes toward work, including a willingness to ‘go the extra mile’, support colleagues, and drive performance. Employees with higher engagement are far less likely to see their job as simply a way to earn a money. Instead, they experience a sense of purpose and fulfilment in their work, which positively contributes to their overall wellbeing. In contrast, another two in five employees feel that people issues are overlooked in their organisation, where engagement drops sharply to 45%, unmanageable job stress is five times higher, and levels of presenteeism and intention to leave are significantly increased. The survey also revealed that employees with long-term health conditions, neurodivergence, or protected characteristics report 20% lower engagement, higher stress, and a greater intention to leave. Many don’t disclose their condition due to fear of discrimination, and over a third who do receive no adjustments. However, with proper support, their engagement matches that of other employees – highlighting the power of inclusive practices. Results also highlighted the crucial role that managers play in shaping employee engagement and workplace experience. When both senior leaders and line managers prioritise people issues, engagement rises significantly, creating more positive attitudes and healthier work environments. Report author, Dr Sarah Pass, senior lecturer in Human Resources Management at NBS and Engage for Success Advisory Board member, said: “Line managers are key to translating organisational goals into daily practice, supporting individual performance, development, and inclusion, particularly for employees with health conditions or neurodivergence. They are the people who turn employee feedback into action. “To lead effectively, managers need proper training and time to support their teams, and those who receive this preparation report higher engagement and greater confidence in their role. “The rise in engagement is encouraging, but if we are to truly Keep Britain Working, we must focus not just on getting people into work, but on helping them work well. Disengagement – driven by unmanageable stress, presenteeism, and poor workplace culture – risks worsening health outcomes and pushing more people out of the workforce. “To change this, we need to embed engagement, inclusion, and wellbeing at the heart of employment strategies, from government policy to organisational leadership and everyday practice. Engaged people are the foundation of resilient workplaces, stronger organisations, and a more productive economy.” Nita Clarke, director of the Involvement and Participation Association and co-founder of Engage for Success, said: “This survey has a strong message about how important effective employee engagement is to attracting people into work and keeping them there. “Government needs to ensure this message underpins the industrial strategy so we can achieve permanent improvements at organisation level in productivity as well as employee wellbeing.” David MacLeod OBE, co-founder of Engage for Success, added: “It is clear that if individual organisations and the UK overall are to grow, then we need to give higher priority to the people issues which result in increased levels of employee engagement and therefore better organisational outcomes. “There is a huge opportunity, and need, to harness the rich diversity in our workplaces so that everyone can work to their full potential.”

Agri-tech firms appoint new chief to drive commercial growth

Three UK-based agri-tech companies, B-Hive Innovations, HarvestEye, and RootExtracts, have appointed Doreen Spikings as their new Chief Operating and Commercial Officer, signalling a strategic push for commercial scaling and product development.

Spikings brings over two decades of experience across the fresh produce sector, covering supply chain operations, technical strategy, and commercial leadership. Her prior roles include senior positions at Keelings, Greenvale, and Greenyard, where she led commercial teams focused on fresh and prepared produce across global markets.

The appointment comes as the three East Midlands firms accelerate their efforts in research-based agri-tech solutions. Initially centred on potato innovations, B-Hive has expanded its offerings to other crops, including strawberries, apples, and onions, with further growth planned in sectors such as aquaculture. HarvestEye, a crop insights platform, is scaling internationally, while RootExtracts is entering commercialisation with a focus on upcycling potatoes into plant-based ingredients.

The addition of leadership is expected to support commercialisation efforts, IP development, and global client acquisition, aligning with the group’s broader ambitions for financial and environmental sustainability in food production.

Northern and Midlands exporters trail London in overseas trade

A nationwide survey has revealed a significant disparity in export confidence and activity between firms based in London and those in the North and Midlands. While export performance improved overall in Q1 2025, regional businesses outside the capital remain less optimistic about growth, prompting renewed calls for targeted government support.

The UK Trade Barometer, launched by Manchester Airports Group (MAG) and the Growing Together Alliance, surveyed more than 1,500 businesses nationwide. The findings show that while 68% of London firms already trade internationally, only 39% of companies in the North and 43% in the Midlands and East of England do the same.

In Q1, 63% of exporters increased sales to existing markets and 47% entered new ones. However, expectations for further growth were uneven: 41% of London-based firms plan to expand into new markets in Q2, compared to 19% in the North and 21% in the Midlands. Similarly, only 24–27% of firms outside the capital expect increased sales in current export markets, compared to around 50% in London.

Despite geopolitical uncertainty, notably around potential US tariffs, 41% of firms already exporting to the US anticipate further growth there in Q2. However, future diversification appears to be a priority, with EU markets, especially France, Germany, Italy, Belgium, and Spain, ranking alongside Canada, Australia, Brazil, and Japan as top targets for market entry.

MAG and the Growing Together Alliance, which includes six major regional business groups, argue that a national strategy is needed to equip firms outside London with better trade infrastructure and support. The data suggests that boosting regional exports could improve productivity and narrow the economic gap with the capital.

The barometer will be updated quarterly to monitor exporter sentiment and identify trends in global trade activity from different parts of the UK.

Former Derby department store snapped up

An iconic building in Derby city centre, the former Central Co-op department store on the junction of East Street and Exchange Street, has been sold for the first time in the building’s history. RCCG Solid Rock Church has bought the freehold to the property following the closure of the Lee Longlands furniture store earlier this year. Solid Rock is a Pentecostal Church currently located on Woods Lane, close to the centre of Derby, and with a rapidly growing congregation in the city, the Church seized the opportunity to acquire the property once it became available. Andrew Buckley, head of property for Central Co-op, said: “We are delighted to have found the right organisation to occupy and revitalise this wonderful building so soon following Lee Longlands recent decision to exit this location. Their occupancy will not only breathe new life into the space but will also contribute towards the activity and vibrancy within this part of the city centre.” Pastor James Egodibie from Solid Rock Church added: “The purchase of this very large, centrally located building in the heart of Derby city centre will allow our organisation to expand our activities centred around building relationships with people of different backgrounds and cultures.” The sale was brokered by Russell Rigby from regional commercial property specialists Rigby & Co, who acted on behalf of the Central Co-op. Russell added: “This is a very significant building in a key position on the link between the successful Derbion Mall, and the Victorian Market Hall, which is set to reopen later this month. “Sadly, the building had little future as a retail/commercial unit going forward, but James and his dynamic team will hopefully provide much needed impetus into re-energising this part of the city centre.”

Leicestershire technology group acquires Spanish software developer

Evolve Holdings Limited, a Leicestershire-based technology and innovation group, has acquired Secret Source Technology S.L., a software development company headquartered in Spain. The acquisition expands Evolve’s software delivery capabilities and drives enhanced value to clients in the UK, Europe and beyond. In a strategic move in 2018 Evolve Holdings Limited was formed as the parent company to Evolve IT Consulting Limited and Evolve Dev Limited with a mission to drive digital transformation through innovative thinking, scalable solutions, and strategic partnerships. The addition of Secret Source brings new depth to the group’s development capacity and strengthens its offering for clients. “This acquisition is about more than expanding operations — it’s about aligning with a team that shares our values of quality, transparency, and innovation,” said Colette Wyatt, CEO of Evolve Holdings Limited. “Secret Source has built an impressive culture and capability in Spain, and together we’re now positioned to deliver even greater value to our clients.” Secret Source Technology S.L., based in Las Palmas de Gran Canaria, Spain, has earned a strong reputation for its collaborative development approach, skilled technical teams, and successful partnerships with UK clients. Since its founding, the company has specialised in nearshore development, enabling businesses to scale their technical capacity while maintaining close cultural and operational alignment. Richard Clarke, founder of Secret Source Technology S.L., added: “We’re incredibly excited to be joining forces with the Evolved Group. From the beginning, it was clear that we shared the same values – especially our belief in placing people and wellbeing at the centre of great software development. “We’re really looking forward to growing our Spanish operation together, creating more opportunities for our team and delivering even greater impact to our clients as one team.”

CEO shares personal journey to highlight importance of mental health during Mental Health Awareness Week

The CEO of a Northants business has shared his personal mental health journey to mark Mental Health Awareness week, which takes place from 12th-18th May. Robert Thompson of See Limited, a group holding company for businesses involved in the built environment industry, is candid about his experiences and hopes that by sharing his story, others experiencing a similar situation will be inspired to seek out the help and support they need. It was during what Robert calls, ‘the dreaded Covid outbreak’ that he recalls this being the turning point of when his life changed. “I was working at 100 miles an hour and then Covid-19 came along. It was a massive disruption to a lot of businesses and families but it was also a time when my body just crashed. “Automatically I questioned whether this was a by-product of Covid and I never really got to the bottom of it. “Obviously, I went to the doctors and they did blood tests, but my body was shot. I couldn’t get out of bed and at the time, it was quite easy to put it all down to Covid. But in reality, whether it was long Covid or not, my body was pretty much shutting down and saying, ‘enough is enough’.” Robert says that this was the wake up call he needed to make positive change in his working and personal life, though he freely admits that this was a real challenge as he was impacted both mentally and physically. “I wasn’t able to do half the things I wanted to do and was trying hard to figure out how to fix myself, as my natural persona is to fix things but I felt I couldn’t do this.” Robert’s mental health struggles were also compounded by the news that his wife, Katie, was diagnosed with stage four cancer while he was away on business in the US. “The news of my wife’s cancer diagnosis was very traumatic but she was amazing in the approach she took. She embraced the diagnosis in a positive way and it was her approach that helped me significantly in terms of trying to understand what was wrong with my body – and that’s where my real journey began.” On his route to recovery, Robert recognised that he needed to prioritise his mental and physical wellbeing. He gave up alcohol and meditates alongside embarking on regular daily exercise. “To function properly, you need to look after yourself. Through my own experiences, I soon realised that I also had to be more patient in order to improve and get healthy. “I have four beautiful children and a wife and wanted to fully appreciate the simple things in life. Although it was, and continues to be, hard work I was determined to get better and as I progressed, I started to feel better mentally and physically. The one percent changes that I made to help improve my wellbeing made all the difference. For me, making those small changes helped me deal with the harder times; it’s all about being consistent.” It is from that consistency that Robert has benefitted. He now has what he calls ‘non-negotiable daily routines’ of exercise and meditation that enable him to take the time out he needs to be truly present, both at work with his colleagues and at home with his wife, children and dog Molly. Robert freely admits that his mental health journey continues, as does the challenges faced by his wife. However, he firmly believes he has been given a second chance and is determined to continue to seek out the good in every day. Consistency and a willingness to talk are, he says, vital steps in anyone’s recovery. “Everyone should have an awareness of mental health and the challenges that it can bring. I still have peaks and troughs but I think it’s important that people understand that they are not alone. “Mental health is often stigmatised but the more people talk about how they are feeling and keep in mind the importance of giving back, will only transcend itself into a greater wellbeing for all. “Hopefully sharing my story will resonate with others facing similar challenges and encourage them to seek out the support they need.” Since 2001, the Mental Health Foundation has been leading Mental Health Awareness Week. This year it takes place from 12th-18th May.

East Midlands civil and structural engineer celebrates framework successes

East Midlands-based civil and structural engineer BSP Consulting has been awarded a place on the Eastern Procurement Development Consultancy Services Framework. The framework is for services that will be undertaken predominantly for local authorities, housing providers and public sector organisations mainly across Eastern Procurement’s core geographical area – the East of England. Lasting for four years, the framework has an estimated value of approximately £17m. At the same time, BSP Consulting has been appointed onto a new consultancy framework for Newark and Sherwood District Council for Civil and Structural Engineering Services. BSP Consulting has been working with Newark and Sherwood District Council on its Housing Revenue Account new build programme for the last four years and as part of the new consultancy framework will continue to deliver civil and structural services across various projects including HRA new build. BSP Consulting managing director Carl Hilton said: “We are very proud to have been appointed onto the Eastern Procurement Development Consultancy Services Framework and the Newark and Sherwood District Council Framework For Civil and Structural Engineering Services. “The re-appointment of BSP Consulting onto the Newark and Sherwood District Council framework is a ringing endorsement of our commitment to our clients and the services that we offer to both the public and private sectors. “BSP is one of the largest independent civil and structural engineering consultancies in the East Midlands and we have extensive experience of working with local authorities, housing providers and public sector organisations. “We look forward to offering our services and expertise to support investment in these sectors in the future.”

“I’d encourage everyone to get involved to show how your business is making a difference in the sector” – East Midlands Bricks Awards 2025

Nominations are now OPEN for Business Link Magazine’s East Midlands Bricks Awards 2025, taking place on Thursday 2nd October, and last year’s winners are reflecting on the prestigious event, encouraging others to enter. Lee Parry, MD for Vistry East Midlands, which won Developer of the Year in 2024, said: “It was a real honour to be given the title of Developer of the Year at the East Midlands Bricks Awards in 2024. “These awards celebrate all that is good in property and construction across our region, and I’d encourage everyone to get involved to show how your business is making a difference in the sector.” This year’s eagerly anticipated awards ceremony will mark 10 years of the event, making its return on Thursday 2nd October at Nottingham’s famous Trent Bridge Cricket Ground. The East Midlands Bricks Awards celebrates the successes of property and construction companies in Derbyshire, Nottinghamshire, Leicestershire, Lincolnshire, and Northamptonshire. Recognising those behind the changing landscape of the East Midlands, the occasion highlights development projects, businesses, and people in commercial and public building across the region – from office, industrial and residential schemes, through to community projects such as leisure schemes and schools. It also toasts the work of architects, agencies, and those behind large schemes. Welcoming almost 150 professionals, nominating a company or project for the awards is a great way to showcase your successes, recognise your team’s efforts, and reach our audience of over 60,000 business readers, while also offering a chance to connect with respected professionals. And better yet, it’s completely free to enter! Making the top three finalists in your category also wins you free tickets to the event, where you’ll be in the running for one of our coveted awards. To make a nomination for the East Midlands Bricks Awards 2025, please click here. Or to go directly to a category’s nomination form click on the category headings below. Supporting imagery, video, documents, or links to these, can be sent to bricks@blmgroup.co.uk. Video nomination pitches are also welcome as an alternative or companion to written entries. Categories include: All finalists will have the chance to take home the Overall Winner award, which this year comes with a prize of a year of marketing/publicity worth £20,000, with the opportunity to split or gift the marketing to a charity of your choice.

Nominations will close on Friday 15th August.

New for this year, all entrants will also have the opportunity to be featured on our dedicated nominee showcase on the East Midlands Business Link website, providing space for marketing your achievements. Upon submitting a nomination, we will get in touch for any information, imagery, and video nominees would like to be featured on their showcase page. Thanks to our sponsors:                                          

To be held at:

With a limited number of sponsorship opportunities remaining, please contact Angie Cooper at a.cooper@blmgroup.co.uk to learn more if you are interested in becoming an East Midlands Bricks Awards 2025 sponsor.