Yü Group delivers another set of record breaking results

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Yü Group, the independent supplier of gas and electricity to the UK corporate sector, has reported “significant growth” in revenue and profitability for 2023.

According to final audited results for the year to 31 December 2023, revenue grew to £460m, up from £278.6m in 2022, following strong sales bookings.

Profit before tax, meanwhile, increased to £39.7m, from £5.8m in 2022.

Bobby Kalar, Chief Executive Officer, said: “It’s been an extraordinary year and I’m very pleased with our strong performance, delivering another record breaking set of results.

“We have a strong forward order book which continues to build into 2024, and with this high degree of predictability, I remain confident in delivering another strong performance and continuing to deliver further shareholder value in 2024 and beyond.

“We’ve made significant strategic and operational progress. I’m very excited by the capability of Yü Smart and the value it creates for the Group. We have a transformational new commodity trading agreement with Shell, and all the foundations and digital-led systems in place to ensure continued growth.

“We are increasing our dividend payment to reward our loyal investors and we look forward to providing further growth in shareholder distributions.

“I’m grateful to the Board who continue to deliver the right blend of challenge and encouragement to me and my team.”

Five Midlands Councils awarded £17.6m funding to get EV chargers on our streets

Five Midlands Councils, in collaboration with Midlands Connect, have come together to successfully bid for £17.6m of Government’s Local Electric Vehicle Infrastructure (LEVI) Fund to get more EV charge points onto our streets. Midlands second Electric Vehicle Infrastructure Consortium, alongside Sub-national Transport Body Midlands Connect, have successfully bid for £17.6m of Government funding together, to help the region not only to accelerate the number of EV charge points on our streets as well levelling up our regions EV ambitions across rural and urban areas. The cash has come from the Government’s Local Electric Vehicle Infrastructure Fund, in which each local authority has been allocated an individual amount from that pot and additional private investment from chargepoint operators will enable the achievement of chargepoint socket aspirations. The £17.6m funding will equate to approximately 8,000 new charge sockets across the consortium area and is also likely to support approximately 11,138 jobs in the whole electric vehicle charging supply chain. The second Midlands EV infrastructure Consortium is led by Nottinghamshire County Council and is in partnership with Derby City Council, Derbyshire County Council, Nottingham City Council, Staffordshire County Council and Midlands Connect. Analysis by Midlands Connect found the Midlands needs over 58,000 new public EV charging points by the end of 2030 to meet the needs of the growing EV market, with over 2m EVs expected on our region’s roads by the end of the decade. It’s hoped this latest good news around the Government funding will spur on more region-wide installation of charging points. Maria Machancoses, CEO of Midlands Connect, said: “It’s great to see Government supporting our collaborative approach to delivering EV and today’s announcement will lead to thousands of new chargers being installed, transforming how we travel around our region and beyond. “We are helping councils working together to charge ahead and provide this vital infrastructure for their communities. “The collaboration draws on their collective knowledge and expertise to deliver on street charging, making it even easier for those without driveways to make the switch to cleaner travel. “We hope in the coming weeks the rest of our consortiums will also receive investment so we can continue to supercharge the Midlands and lead the way in EV infrastructure.”

Phoenix, Leicester names new CEO

Phoenix, Leicester has appointed Kate Chadwick as CEO, assuming the role from John Rance who retires in April after more than 13 years at the charity. Kate has worked in the cultural and charity sector for over 20 years, and brings to the role her strategic leadership knowledge gained at diverse organisations, coupled with experience in community engagement and developing new audiences. As Deputy Director of MK Gallery in Milton Keynes she was responsible for managing their £12m capital development, which launched successfully in March 2019. Then in 2022 she took on the role of Executive Director at Stanwick Lakes, Northamptonshire – a unique 750 acre countryside attraction and protected nature reserve which attracts over 300,000 visitors a year – where she led the development of new hospitality and visitor services, and established a new exhibition programme. Kate said: “I’m thrilled to be joining Phoenix at this exciting time in the charity’s history, following its multi-million pound expansion. Phoenix is at the cultural heart of Leicester and I look forward to working with its dedicated and talented team to continue to grow the organisation and bring new cultural, creative and business opportunities and experiences to the city’s diverse communities.” Ali Sinclair, Phoenix’s Chair, said: “After an extensive recruitment process which attracted a lot of interest, I am delighted we are making this announcement to welcome Kate Chadwick as our new CEO. “Kate has a background which is both art and venue based, and she understands the challenges and opportunities of the role. Kate starts at the beginning of April; we know that she is very excited about joining Phoenix and I very much look forward to working with her. “The board is indebted to retiring CEO John Rance for his commitment to Phoenix, his resilient leadership and wide ranging expertise that have been invaluable in steering Phoenix through some very complex and challenging times. “He has worked tirelessly with the board, stakeholders and the senior management team to deliver the recent capital expansion and he leaves us with a tremendous legacy of a bigger and even more vibrant Phoenix as a platform to realise our artistic, community and business ambitions. “We wish John every happiness in his retirement from Phoenix, this will be a period of change and adjustment for all of us who have worked closely with him for many years.” Peter Knott, Midlands Area Director, Arts Council England, said: “We’re delighted to welcome Kate Chadwick as Phoenix’s new Chief Executive, who brings a wealth of sector experience across galleries and other visitor attractions to the role. “I’d also like to pay tribute to John Rance, who has led the organisation for 13 years, which included overseeing the major redevelopment of the building which saw an additional two screens and new kitchen and café bar added to the site last year. I’d like to wish him good luck for his retirement.”

East Midlands Combined County Authority unveils ambitious blueprint for the future

The first formal meeting of the new East Midlands Combined County Authority (EMCCA) takes place this week – with council leaders set to discuss an ambitious blueprint for the region’s future. The EMCAA board, made up of the four leaders and deputy leaders from Derbyshire, Derby, Nottinghamshire and Nottingham councils will debate a number of key reports at their first meeting on 20 March. Reports on the agenda include the EMCCA’s strategic economic framework which outlines an ambitious programme to improve the lives of everyone who lives and works in the region. The framework focuses on the importance of growing the region’s economy for everyone’s benefit by targeting investment to speed up economic growth, improving transport links to towns, cities and major employers in the East Midlands and working with partners so people can develop key skills needed across the region. The organisation will work with local authorities, landowners, developers and housing providers to create affordable, good quality housing, and to retrofit existing homes to make them more environmentally sustainable. It also plans to pioneer new forms of clean energy generation, support work to bring green spaces and nature back into communities and improve health life expectancy, especially in the region’s most disadvantaged communities and places. The board meeting takes place in Chesterfield ahead of elections for the region’s first Mayor, on Thursday 2 May. Following the elections future board meetings will be chaired by the Mayor. The board meeting will be followed by an EMCCA launch event in Chesterfield for partners and stakeholders from across the region.

Revenue ticks up at Nottingham recruitment group while profit dips

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Staffline Group, the recruitment and training group, has hailed a “robust trading performance across 2023.” Announcing its audited results for the year ended 31 December 2023, the Nottingham-based business posted revenue of £938.2m, up from £928.1m in 2022, which Staffline said highlighted market share gains predominately in Recruitment GB. Underlying operating profit, meanwhile, was slightly ahead of market expectations, “against challenging trading conditions.” At £10.3m, it dipped from £12m in 2022. Furthermore, gross profit stood at £80.8m, down from £82m.

Albert Ellis, Chief Executive Officer, said: “I am pleased to report that Staffline has delivered a robust trading performance across 2023, demonstrating the resilience of the Group’s operating model against a challenging macro-economic backdrop and also the success of our strategy.

“We continued to grow our recruitment market share, driven by a healthy pipeline of contract renewals and awards, alongside further strengthening our cash position which enabled us to carry out a £5m share buyback programme, an important part of our capital allocation policy.

“Our results for 2023 are a testament to not only the resilience of our business, but also the hard work of our team who have worked tirelessly to deliver these results. I would personally like to thank all our talented leadership and dedicated staff for their unwavering commitment to Staffline’s success.”

Northampton investment sale completed on behalf of Lidl

A building occupied by The Gym Group in Northampton has been sold in a deal brokered by commercial property consultancy Johnson Fellows.

AMK2 Real Estate Ltd has acquired the 16,963 sq ft unit on a 1.26-acre site at Gambrel Road from the retail chain for an undisclosed sum.

The property is currently occupied by The Gym Group on a 15-year lease, expiring in 2033. AMK2 Real Estate was represented by Jack Brown of TDB Real Estate.

The former purpose-built supermarket, with 75 parking spaces, occupies a prominent roadside position alongside Sixfields Retail Park. Occupiers nearby include Sainsbury’s, Next, M&S, Boots, TUI, Poundland, Costa and Lidl.

Johnson Fellows’ agency partner Chris Gaskell works alongside Lidl on the acquisition and disposal of sites across the country.

He said: “We are working hand in hand with Lidl to identify sites for new supermarkets, while also disposing of land and property that is no longer required. The site at Gambrel Road, which has an excellent occupier, was surplus to requirements and we are therefore delighted to announce that it has been acquired by AMK2 Real Estate.” 

Armsons Barlow to transform Derby College Group’s campus

Derby-based project managers, construction cost consultants and building surveyors Armsons Barlow are helping to bring an education facility at Derby College Group’s campus to life. Work has already begun on the new East Midlands Institute of Technology (EMIoT) building which is located at the college’s Roundhouse Campus on Pride Park, expanding the current footprint by adding 1,100 square meters to house the new facilities. The EMIoT facility, which will be net zero, will feature state-of-the art classrooms and collaborative workspaces, providing students with a hands-on and immersive learning experience. The cutting-edge technology will allow teaching to be carried out on-site or anywhere in the world. It aims to address the increasing demand for skilled professionals and in-technology related fields and will equip students with future-ready skills necessary to meet the evolving demands of the workforce. A groundbreaking ceremony, which took place recently at the college, marked the official start of construction on the state-of-the-art EMIoT facility. Armsons Barlow are working alongside architects YMD Boon on the project, along with structural engineers JPL; M&E engineers, Hba Consulting; consultants Thornton Firkin and contractors Davlyn Construction. Armsons Barlow will be working alongside the design team to provide project management services for the project. The project is a partnership between Derby College Group, Loughborough University, Loughborough College and University of Derby, working with key industry players such as Rolls-Royce, Toyota Manufacturing UK, Alstom, and Bloc Digital. The development is set to be completed and ready for opening in September 2024. Sally Walters, director of Armsons Barlow, said: “We are thrilled to be a part of this transformative project which will shape the future of education and training in the East Midlands. “Our role as project managers underlines our commitment to ensuring that this groundbreaking initiative is successfully executed to bring together education, industry, and cutting-edge technology.”

Dow Schofield Watts’ corporate finance team expands again

Dow Schofield Watts (DSW) has appointed an additional Partner in its expanding Midlands corporate finance team. Ryan Shields joins from Grant Thornton in Milton Keynes where he was an M&A Director.

Ryan is the fifth and final founding member to join the team, with his arrival having been delayed due to contractual commitments. He joins the existing Partners – Harry Walker and Shaf Bheda, together with Director Fahim Kassam and Associate Directors Daniel Chouciño and Lucy Fairclough, bringing the total number in the team to six.

Ryan will be focusing on building Dow Schofield Watts’ corporate finance presence in Milton Keynes and Northampton, an area where he has a strong track record.

He has spent his career at Grant Thornton, joining in 2012 and gaining his accountancy qualifications, then moving into the corporate finance team and rising through the ranks. Working with entrepreneurs, owner-managers, large corporates, management teams, and private equity he has advised on a wide range of transactions.

His sweet spot is selling privately owned businesses with a value between £10m to £50m with significant experience across the business support services (built environment and energy), industrials, and technology sectors.

“I have loved my years at Grant Thornton, but now is the time to move on and be part of building a new challenger boutique focusing on the mid-market where we all feel there is a distinct opportunity,” said Ryan.

“The DSW Corporate Finance team in the Midlands has made no secret of its plans to invest in expanding strategically to bring its signature Partner-led approach to Milton Keynes and Northampton. DSW has a highly regarded and recognised brand and corporate finance offering, which I’m thoroughly looking forward to playing a role in.”

Recent significant deals include advising private equity house Freshstream Investment Partners on their investment in Project Better Energy, the sale of Motor Parts Direct to South African listed Motus, the sale of Miers Construction Products to SIG PLC and the sale of Oysta Technology to The Access Group.

Harry Walker added: “Ryan is the last piece of the current jigsaw for DSW Corporate Finance in the Midlands. He is an established and highly regarded corporate finance operator, and his focus on Milton Keynes and Northamptonshire strengthens our geographical reach in the South Midlands and into the Central and East markets.

“On top of that, Ryan enhances our mid-market offering, being another partner with experience in delivering some of the region’s most significant private equity and owner-managed deals in recent years.

“We’re excited to have assembled a roster of dealmakers with over 60 years’ experience between them and are looking forward to building the business together with our clients and fellow Midlands professionals.”

Hopkins Solicitors expands their legal support into Derbyshire

Hopkins Solicitors Ltd has announced the acquisition of Miles & Cash Solicitors. This strategic acquisition marks a significant milestone in the growth and expansion of Hopkins Solicitors Ltd’s footprint into Derbyshire’s legal community. By joining forces with Miles & Cash, Hopkins Solicitors Ltd strengthens its position as a provider of legal services, offering an expanded range of expertise and resources to Heanor’s local residents and small businesses. Miles & Cash’s Managing Partner, Chris Sedgwick, said: “Our search for a law firm to transform the business was easy, having known a number of the Hopkins staff personally, we knew they held the same values and high levels of quality service. “In addition, we knew that during their previous acquisitions of other local law firms they ensured that existing clients knew that the business was still there to support them, and that the employees felt secure and supported on their future career growth.” “We are excited about the opportunities that this acquisition presents for our clients and our team,” said Chris. “Joining Hopkins Solicitors Ltd allows us to continue providing the highest level of service to our clients while offering expanded resources and expertise across a wider spectrum of legal areas. We look forward to a seamless integration and continued success as part of the Hopkins Solicitors family.” Miles & Cash Solicitors has built a solid reputation for its expertise in Children and Care Law, serving a diverse client base with integrity and professionalism. This team including solicitors Chris Sedgwick (Partner) and Lucy Fisher (Associate) have stayed onboard further expanding Hopkins’ already extensive and reputable Children Law and Care Team. Martyn Knox, Managing Director of Hopkins Solicitors, said: “We look forward to getting to know and support the members of Heanor’s local community, both as clients and as future employees. We believe that our local expertise and our honest commitment to high standards is what allows us to provide a personal approach to our clients, and truly make a difference in improving people’s lives.” In March 2024 interior and exterior renovations began on the existing Miles & Cash office which is located in Heanor’s town centre just north of Derby, between Ripley and Ilkeston. Once complete, the office will be expanding and housing at least 8 solicitors offering a full range of legal support services including private family law, children & care law, residential conveyancing, wills & probate, civil litigation, personal injury & medical negligence, employment law, company commercial and commercial property law. The acquisition of Miles & Cash Solicitors underscores Hopkins Solicitors Ltd’s commitment to growth, innovation, and delivering exceptional results for its clients.

Work starts on new Towcester special school

Construction works have started on the development of a new special school located in Towcester which will provide much-needed places for children and young people with special educational needs and/or disabilities (SEND). Construction firm Wilmott Dixon are underway with the development of the new school, called Tiffield Academy, which is set to open in autumn 2025 and will cater for children and young people between the ages of four to 18 with autistic spectrum conditions (ASC), speech, language and communication needs (SLCN), as well as those with severe learning difficulties (SLD). The school will be designed to physically accommodate 250 pupils, although it will operate to an admissions number of 230, with the remaining 20 places expected to be filled through emergency placements or other extenuating factors. Commemorating the occasion with a ground-breaking ceremony, stakeholders came together to mark the start of the project, which will take shape over the next 18 months. Cllr Fiona Baker, Cabinet Member for Children, Families, Education and Skills at West Northamptonshire Council (WNC) was joined by representatives Wilmott Dixon who are delivering the project and Greenwood Academies Trust who will be responsible for running the new school. This work follows planning approval in January this year for a three-storey building that is specially designed to create an environment for children to learn, grow and thrive. The school will have general and practical teaching spaces, a lift providing access to the upper floor, with each key stage next to a calm room, intervention room and a group room. There will be two halls proposed to provide physical activities, music, drama and assembly spaces. The Early Years phase will be co-located with need specific sensory rooms and separate dining spaces for primary and secondary pupils. Cllr Fiona Baker, Cabinet Member for Children, Families, Education, said: “It is positive to see work underway at the Tiffield site in preparation for opening in Autumn 2025 as we know these additional spaces are very much needed and will make a significant difference to the children and young people who will attend the school, as well as their families. This school will provide an engaging environment and excellent teaching and learning facilities to help our students learn, develop and connect. “This is a step forward and is part of our wider programme of creating 600 new specialist places locally as we continue to see a high demand for SEND places to meet the needs of our children and young people. “We know this is not a solution for all and that there remain challenges with demand in other areas. We are working hard to provide support in all areas across our SEND offer and are working with schools and learning providers to embed a graduated response to ensure children’s needs are identified as early as possible and met in the best way. We are also reviewing the needs of all children to understand if and when additional specialist provision is needed.” Spokesperson for Wilmot Dixon said: “We would like to thank West Northamptonshire Council for providing us with the opportunity to be a part of this new prestigious SEND project. As a result of the collaborative approach between each stakeholder, we are well underway to delivering this exciting new facility. Our goal is to assist West Northamptonshire council and the Greenwood Academy Trust in creating a positive legacy for the trust and the wider community for many years to come.”