Footwear retailer Shoe Zone reported a pre-tax loss of £2.3 million for the six months ending 29 March 2025, reversing a £2.6 million profit from last year. Revenue declined by 6.5% year-on-year to £71.5 million. The company also confirmed it will not issue a dividend.
The drop in earnings prompted a sharp market reaction, with shares falling over 17% in early trading.
Shoe Zone attributed the downturn to soft consumer demand, unseasonal weather, and rising costs linked to the UK government’s Autumn Budget. The company cited increased outgoings related to National Insurance and National Living Wage changes, impacting the second half of the financial year.
The retailer had initially forecast full-year pre-tax profits of £10 million, but revised that down to £5 million due to challenging trading conditions in Q1. While Q2 showed some signs of recovery and currency and freight costs have eased slightly, the business expects the operating environment to remain difficult amid low consumer confidence.
Shoe Zone previously closed several stores in response to rising overheads, and its net cash position has also weakened. The company is yet to provide updated full-year guidance beyond the £5 million estimate.
Lincolnshire-based construction firm Build Manager is marking the end of its first year in business with a major achievement, securing and delivering its first major commercial contract, a bespoke 4,000 sq ft two-storey office development for IFI Group Ltd in Saxilby.
The project, which spans a 25-week contract duration, represents a significant milestone for the young company and demonstrates its capacity to deliver fast-paced, high-quality commercial builds.
Since being appointed at the end of 2024, Build Manager has wasted no time. In just over four months, the team has finalised designs, delivered the groundworks ‘in-house’, erected the steel frame and tarmacked the new entrance road.
The new office is being developed for IFI Group Ltd, a specialist fire safety, risk management consultancy and training provider, and will support their continued growth within the region.
The project has brought together a number of Lincolnshire-based collaborators, including architects LK2, structural engineers William Saunders, aggregate supplier UDCS Ltd, concrete supplier AMS Build Group Ltd, roofing and cladding contractor B C Roofing and architectural windows and door specialist Kole Architectural.
Build Manager was launched just over a year ago with a focus on upfront commercial viability advice and streamlined, transparent project delivery. Winning the IFI Group contract marked the company’s first large-scale commercial development and a strong close to year one.
“To end our first year in business by securing and delivering a significant commercial contract is something we’re incredibly proud of,” said Matthew Jones, director at Build Manager. “This project showcases what we’re all about, efficient delivery, clear communication, and a collaborative approach. It’s been a fantastic way to build momentum heading into year two.”
Build Manager was set up by Lincolnshire-based construction professionals Matthew Jones and Ben Taylor. The pair, who have worked in management for a number of local main-contractors, set up on their own after spotting a gap in market for their services.
Matthew, from Scotton, and Ben, from Sturton-by-Stow, Lincoln have been involved in many notable projects in and around the county, including £2.2m new build commercial units (60,000 sq ft) at Discovery Park on Whisby Road – North Hykeham, £3m renovation of Lawress Hall for the University of Lincoln and the new £4.5m Community Ward at John Coupland hospital in Gainsborough, to name a few.
IFI Group Ltd shared their satisfaction with the process so far, praising Build Manager’s professionalism, reactiveness, and on-site efficiency.
How the finished project for IFI Group Ltd will look
“From the very beginning, the team has been incredibly reactive, professional, and easy to work with,” said Ben Freeman, director of IFI Group Ltd. “Communication has been clear and consistent throughout, and progress on site has been impressively efficient. It’s been a smooth experience so far, and we’re genuinely excited to see our new office coming to life.”
As the office build continues at pace, Build Manager is inviting other local businesses considering new developments or construction work to reach out for some free upfront advice and viability studies.
“Whether you’re planning a new office, warehouse, or commercial space, we’d love to hear from you. Our goal is to make the process smooth, stress-free, and successful,” added Matthew.
Local businesses can contact Build Manager at info@build-manager.co.uk or find out more at www.build-manager.co.uk.
China’s Central Airlines has launched a new year-round cargo service to East Midlands Airport, marking its first UK operation. The service is operated on behalf of logistics firm YunExpress and runs twice weekly between Xiamen and Nottingham via Tianjin, with the return leg non-stop to Xiamen.
The route is served by a B777-200F aircraft, with flight data showing that the aircraft has been operating into Nottingham every three days since its initial arrival on 5 May. The official inaugural flight was conducted on 13 May.
YunExpress is also expanding its physical footprint at the airport with the development of a dedicated warehouse facility, signalling a longer-term commitment to the region’s logistics infrastructure.
East Midlands Airport has recently seen a rise in international cargo activity, with new freight services from Ethiopian Airlines and Atlas Air also commencing in May.
Central Airlines operates a mixed fleet that includes two B737-300Fs, four B737-800BCFs, and four B777-200Fs. The airline is focusing on growing its widebody operations while scaling back its narrowbody fleet.
Bright Beany Accounting, a Nottinghamshire firm offering tech-enabled accountancy services, has landed £25,000 in funding via First Enterprise and the British Business Bank’s Start Up Loans scheme.
Launched by co-founders Max Polkey and Katy Dales, the business targets SMEs with a model built around automation, digital workflows, and scalable support. The funding is being used to strengthen back-office functions and build out marketing to reach a broader client base.
The firm’s proposition targets a growing market of businesses looking to reduce manual accounting processes, improve real-time financial visibility, and reduce compliance admin.
First Enterprise, a not-for-profit lender, backs early-stage ventures that struggle to secure mainstream finance. Its loan values range up to £150,000. Its focus remains supporting innovation and job creation across the Midlands and beyond.
Saint-Gobain has unveiled plans for a new low-carbon stone wool insulation plant in Melton Mowbray, Leicestershire, expected to begin production in 2027.
The factory will be built on the site of the former Holwell Foundry Works and when operating at full capacity has the potential to deliver 250 new jobs for local people.
Construction of the factory will create approximately 100 construction jobs, during the first phase.
The facility will initially produce 50,000 tonnes per year of high-performance stone wool insulation for the UK market with the potential to double its output to 100,000 tonnes per year.
The new manufacturing facility will feature cutting-edge technology, including a fully electric furnace, powered by renewable electricity. This investment will help customers reduce the embodied carbon of construction projects by lowering the CO2 (scope 1 and 2) footprint of stone wool insulation.
Inflation increased in April, according to new figures from the Office for National Statistics (ONS).
The higher than expected uptick, measured by the Consumer Prices Index (CPI), saw inflation come in at 3.5% in April, up from 2.6% in March.
The largest upward contributions to the change came from housing and household services, transport, and recreation and culture, while the largest, partially offsetting, downward contribution came from clothing and footwear.
Core inflation, meanwhile, which takes out volatile factors like energy, food, alcohol and tobacco to give a clear picture of underlying trends, came in at 3.8% in the 12 months to April, up from 3.4% in March and above forecasts.
Martin Sartorius, principal economist, CBI, said: “April’s rise in inflation was widely expected, driven by a perfect storm of price pressures such as higher employer National Insurance contributions, the National Living Wage increase, and a hike in the Ofgem price cap.
“Looking ahead, the Bank of England expects that inflation will stay above 3% this year, as these pressures continue to impact households’ cost of living. This suggests that the Monetary Policy Committee is likely to hold rates in its next meeting, especially after May’s finely balanced decision to cut.
“Beyond then, the MPC will reduce borrowing costs at a gradual pace, as it assesses how price pressures are developing in the economy.”
The University of Bedfordshire has formally partnered with the Northamptonshire, Milton Keynes, and Bedfordshire Chambers of Commerce, aiming to deepen collaboration between academia and industry across the region.
Under the new agreement, businesses will gain access to the University’s research capabilities, academic consultancy, and talent development programmes. The partnership will offer professional development opportunities, including Masters by Research pathways for employees of member businesses.
For the University, the alliance is designed to enhance student employability by embedding real-world experience into the curriculum. This includes internships, guest lectures, industry-informed teaching, and input into course development through industry panels.
The initiative is aligned with the University’s Career Powered Education model and reflects a broader goal of fostering inclusive economic growth through research, innovation, and skills development. Businesses will also benefit from bespoke research, strategic support, and joint initiatives tailored to local economic priorities.
The Chambers represent a significant portion of the business community across Bedfordshire, Northamptonshire, and Milton Keynes, with a combined membership spanning thousands of companies across sectors.
North East Lincolnshire Council is terminating its contract with Spencer Group to refurbish Grimsby’s Corporation Road Bridge, citing unacceptable delays in the £5 million project. The council is seeking a new contractor to complete the remaining work, including restoring the Grade II-listed bridge’s lifting mechanism.
The project began in 2023 and had involved wrapping the structure in protective sheeting during restoration. While much of the bridge has recently been unveiled, the final stages have been hindered by unforeseen rust and deterioration that required additional surveys and extended the timeline.
Spencer Group expressed disappointment at the termination and attributed delays to unforeseen conditions that increased workload and costs. The council, however, has signalled a need to expedite completion and is prioritising the appointment of a new specialist firm to reopen the bridge as soon as possible.
Strong momentum experienced in 2024 has continued at Staffline, the Nottingham recruitment group has stated in a trading update.
The business has delivered a 6.2% increase in gross profit for the first four months of 2025 compared to the prior year, driven by a year-on-year uplift in temporary worker hours in Recruitment GB, up 6.6% over the same period.
This performance has been followed by the announcement of a substantial new contract with a leading logistics company which has materially enhanced the board’s expectations of group performance over the next three years.
Staffline noted that is it “confident that trading across FY 2025 is on track to deliver results in line with recently revised management expectations, as the Group’s scale and reputation for service excellence continues to deliver further market share gains.”
Vistry, the provider of mixed-tenure homes, has appointed Dave Bradley as the managing director of its new North Midlands regional business unit.
Dave brings with him a wealth of experience in the house building sector, having held key positions at Owl Homes/Partnerships, Piper Homes and Persimmon. He has a deep understanding of the wider region and strong relationships with many of Vistry’s partners and supply chain.
Adam Daniels, executive chair at Vistry Group, said: “I am thrilled to welcome Dave to the Vistry team. His extensive experience and leadership will invaluable as he continues Vistry’s work to deliver exceptional developments, providing thousands of mixed-tenure homes for the region.”
Dave Bradley, managing director for Vistry North Midlands, said: “I am delighted to join the newly formed North Midlands Vistry region, there is a great team and lots of new land opportunities. I am looking forward to leading the team and delivering lots of excellent developments.”
Dave will be steering the newly formed North Midlands team, combining teams from the former North East Midlands and North Central Midlands, as it builds thousands of mixed-tenure homes across the region including: 525 homes at Great Haddon, 362 homes at Garvey Glade, Bestwood, 333 homes at Fairham, Nottingham, 457 homes at Redhill, Telford, and 402 homes at Edwalton, Nottingham.
Dave is looking forward to partnering with housing associations, local authorities and PRS providers on these projects, including Citizen, GreenSquareAccord, Homes England, Legal & General’s Suburban Build-to-Rent platform (‘LGSBTR’), Midland Heart, MTVH, Platform Housing, Rooftop Housing, Sigma, Placefirst, Gatehouse Bank, SAGE/Leaf and Wrekin Housing Group.
By continuing to use the site, you agree to the use of cookies. more information
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.
