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First and second phases complete at Horizon 29
Phase 1A and 1B of industrial and distribution hub, Horizon 29, in Bolsover, Derbyshire are now finished.
Horizon 29 is a new distribution development located one mile from Junction 29A of the M1, and once fully complete, it will span 1,150,256 sq ft and have a total of eight warehouses, delivered over three phases by McLaren Construction (Midlands and North).
Phase 1A comprises two single-storey distribution warehouses (units 1 and 2) and sustainable features including solar PVs, air source heat pumps, enhanced cladding, responsibly sourced sustainable materials, LED lighting and electric vehicle charging points. The units have been constructed to a BREEAM Rating of ‘Excellent,’ with an EPC ‘A’ Rating.
Phase 1B, involved the construction of units 4 and 5, alongside all subsequent mechanical and electrical works, office fit outs and external works to ongoing conference laboratory car parks.
The contractor also delivered earthworks, CMC and VSC piling, concrete foundations, steel framing, lift shaft and stair installations, nets for roofing works and office elevation cladding.
Gary Cramp, managing director of McLaren Construction (Midlands and North), said: “We are delighted that works for both Phase 1A and 1B are finally complete.
“Once all phases are finished, Horizon 29 will be a premier distribution centre for the region, and an ideal hub for quality tenants looking for direct and easy access to the M1 north and south.
“We were pleased to be working alongside BentallGreenOak and Equation Properties for the second phase of this landmark scheme.”
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Purpose Media appoints senior account manager
Chris Lockwood has been appointed Senior Account Manager with the South Normanton-based agency Purpose Media, bringing a wealth of knowledge to the business after his time representing clients such as Barclays, Sony and Legal & General.
The University of Derby graduate had previously worked in marketing roles with Sports Direct, Punch Communications and Derby City Council and also operated as a freelance consultant.
HE said: “I’m really passionate about what we do and about using our expertise to really add value for our clients.
“The digital marketing sector is fast-paced and constantly evolving, which means we need to be forward-thinking, sometimes we need to be brave, and we always need to be creative.”
Chris’s career highlights to date include working with Sony Xperia mobile phones, running paid media and content campaigns to boost sales across the company’s European territories. He also helped Sports Direct to launch of the 2017 Liverpool FC home kit, with a strategy which included asset creation, email marketing and paid media.
Purpose Media MD Matt Wheatcroft said: “Chris’s track record is impressive; he’s achieved great results for many blue-chip clients and he’s massively enthusiastic about doing the same for the businesses we advise. We’re sure that Chris will be a great addition to the Purpose team.”
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Leicester wealth management company sees growth despite “complex macroeconomic backdrop”
Ian Mattioli MBE, Chief Executive Officer, said: “The first six months of this financial year saw the Group deliver improved organic growth despite the complex macroeconomic backdrop that persisted throughout the period.
“Our priority remains the delivery of profitable organic growth and we are pleased to report further progress towards our medium-term strategic goals, with revenue of £59.1m up 8% on the equivalent period last year (1H23: £54.9m) driven by positive performance across our pensions advice and administration, employee benefits and investment management operating segments.
“The success of our new business initiatives, combined with our expanding product range and the strength of existing client referrals resulted in organic revenue growth of 4% despite a 0.4% reduction in the value of total client assets to £15.2bn.
“The Group’s improved organic growth resulted from a combination of clients’ demand for advice and proactive communication by advisers, with a 13% increase in the value of new clients on boarded in the first half versus the equivalent period last year.
“The Group’s strong, integrated business model facilitates multiple engagement points in providing a holistic service to our clients and to generate multiple revenue streams to facilitate future revenue growth.
“The combination of improved organic growth, positive contributions from recent acquisitions and continued cost management delivered 10% growth in adjusted EBITDA to £16.5m (1H23: £15.0m).
“Profit before tax was up 60% to £7.6m (1H23: £4.8m), in part due to reduced deferred consideration payments recognised as remuneration expense under IFRS 3 of £2.5m (1H23: £3.9m) and lower acquisition-related costs of £0.3m (1H23: £0.5m), while adjusted profit before tax was up 15% to £15.6m (1H23: £13.5m) after adding back acquisition-related costs, platform project costs, deferred consideration recognised as an expense and amortisation of acquired intangible assets of £4.2m (1H23: £3.9m).
“We believe the benefits of operating a responsibly integrated business allows us to secure great client outcomes while delivering strong, sustainable shareholder returns over the long term. The Board remains committed to a progressive dividend, while maintaining an appropriate level of dividend cover. Accordingly, the Board is pleased to announce an interim dividend of 9.0p per share (1H23: 8.8p) up 2.3%, demonstrating our desire to deliver value to shareholders.
“The first half of the financial year has seen the Group deliver a resilient trading performance against a complex macroeconomic backdrop. We plan to build on this position, advancing our key strategic initiatives: new business generation, investing in our adviser academy training programmes, developing our investment proposition, developing new products and services, reviewing our processes, and investing in technology to deliver operational efficiencies and growth through the integration of strategic acquisitions.
“Our trading outlook for the year remains in line with management’s expectations and we believe the Group remains well-positioned to take advantage of the growth opportunities in the UK wealth market and deliver sustainable returns for our stakeholders.”