NAHL pleased with first half performance despite a volatile personal injury market

Tess Egginton
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NAHL pleased with first half performance despite a volatile personal injury market

The CEO of NAHL, the marketing and services business focused on the UK consumer legal market, is “pleased with the first half performance of the Group,” with the business profitable, cash generative, and making further progress in reducing net debt.

According to unaudited interim results for the six months ended 30 June 2024, revenue was £19.4m, 7% lower than last year, due to a reduction in revenues from NAHL’s Personal Injury business in what it says was a “challenging and unusually competitive market.”

Profit before tax, however, increased to £0.5m and was almost as high as for the whole of the previous year (FY 2023: £0.6m). Moreover, net debt at the Kettering-based firm was £9.0m, down 7% from £9.7m at 31 December 2023 and down 22% from 30 June 2023. The news comes as NAHL negotiates terms with a number of parties for the potential sale of Bush & Co, with discussions hoped to be concluded before the end of the year.

James Saralis, CEO of NAHL, said: “I am pleased with the first half performance of the Group. Despite the challenges presented by a volatile personal injury market, the Group was profitable and cash generative and we made further progress in reducing our net debt. In Critical Care, Bush & Co. performed very strongly in the first six months delivering double digit growth in revenue and profits.

“NAH faced a more difficult, highly competitive market in the Period but we continue to take steps to improve performance in this area and we expect to make progress in the second half. As a result, the Board is confident in delivering a full year outturn in line with market expectations and I would like to take this opportunity to thank our fantastic team for their continued hard work and commitment.

“The Board is encouraged that negotiations for the potential sale of Bush & Co. are progressing well and it believes now is the right time to consider the potential strategic options and future strategy for the remainder of the Group. While this is at an early stage the Board will keep shareholders updated with further announcements as appropriate.”

“Excellent” first half for Yü Group

Tess Egginton
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“Excellent” first half for Yü Group
The CEO of Yü Group, the independent supplier of gas and electricity, meter asset owner, and installer of smart meters to the corporate sector, has hailed an “excellent” half year performance. According to unaudited results for the six months to 30 June 2024, revenue increased 60% to £312.7m, up from £194.9m in the same period of 2023. Profit before tax, meanwhile, grew to £19.8m from £8.9m at the Nottingham-based firm.

Bobby Kalar, Chief Executive Officer, said: “Once again, my team has delivered an excellent performance, and I’m in no doubt that this continued momentum will deliver a strong full year performance and further enhance our contracted forward order book. Our simple yet effective strategy to build strong foundations has resulted in the continued delivery of our rapid and sustainable growth.

“I believe the numbers should do the ‘talking’. Revenue is up 60%, adjusted EBITDA is up 49%, cash in the bank up 137%, meter points on supply up 82% and contracted revenue increased by 70%. I’m delighted and rightly proud of the performance of the business against a challenging period of extreme volatility in the market.

“Yü Smart continues to go from strength to strength. Like all new startups, we’ve experienced growing pains and building teams who share our values and habits has required management attention. However, I’m satisfied good progress has been made and we have positioned ourselves for significant meter installation growth. Smart meter installations are up by 125% and engineering headcount is up 300%.   

“Our February 2024 new trading deal with Shell Energy remains strong and their mature and collaborative approach is already leveraging opportunities not available to us before. I look forward to further strengthening our relationship.    

“The lack of Institutional engagement has been disappointing, despite management delivering colossal value year on year. Many AIM companies are questioning the market’s future and the desirability of remaining listed. This has been reflected in the reduction of quoted companies.

“The AIM market’s future is delicately balanced and won’t be helped if the current government further punishes and disincentivises entrepreneurial high growth companies. This lack of recognition is frustrating; however, we remain focussed on delivering FY24 forecasts and positioning the Group for another record-breaking performance in 2025.

“I would like to thank my fantastic team and in particular the Board who continue to challenge and encourage the executive team.”

RedTree PR MD to complete 75 mile cancer charity running challenge at Nottingham half marathon

Tess Egginton
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RedTree PR MD to complete 75 mile cancer charity running challenge at Nottingham half marathon
Nottingham dad of two, Chris Mitchell, will be completing a 75-mile running challenge at the Robin Hood Half Marathon to support Pasic during Children’s Cancer Awareness Month. Running to raise money for East Midlands children’s cancer charity, Pasic, Chris will be completing the last 13.2 miles of his 75-mile challenge as he crosses the finish line at the Robin Hood Half Marathon. Managing Director of RedTree PR, Chris, has been running for several years, as a way to keep fit and bust stress, however his running was shelved 10 months ago when his youngest son Alfie was diagnosed with Leukaemia. Since November 11 2023, Chris, his wife Rachel and oldest son Teddy have supported Alfie, who also has Down Syndrome, in fighting the condition in hospital, going through chemotherapy treatment and battling a series of infections. Chris explains: “I am running 75 miles throughout September to raise money for Pasic. They have helped us, and other families we know, since Alfie has been diagnosed. The charity is based at Nottingham’s QMC, Leicester and Northampton and its 75 miles between all three hospitals. “They are a small local charity that is ‘on the ground’ in hospitals providing invaluable emotional, practical, and financial support to the whole family. For example, they provide money for days out so families can get time together and a bit of respite. I wanted to support a charity that has directly helped us and so many people we know.” Now based at Nottingham’s Children’s Hospital, PASIC started in 1977 as the Parents Association for Seriously ill Children. When a group of parents of children with cancer realised there was no support for them as families, they got together with their consultant at Nottingham’s Queen’s Medical Centre to set up a self-help group. The established charity ethos is ‘making sure no family in the East Midlands faces childhood cancer alone’. Using the self-depreciating moniker ‘Fatboy Runs’, Chris has undertaken several other charity challenges and partnered with friends to raise funds for Footprints Conductive Education Centre by taking part in the Nottingham Half Marathon twice for them and the London Landmarks Half Marathon. He also ran the virtual London Marathon during COVID and the Great North Swim for Mencap, raising over £3,500. Chris shares: “The families on the Children’s ward at QMC are all dealing with an awful situation. I try my best to be positive, make the best of each day and have as much fun as possible. Having a positive mindset is the only way to get through something like this and for me, running and doing something positive helps that. “I am proud of every one of our friends on the ward. They show what it means to unconditionally love your child and do your best by your kids. If the money raised can help provide some days out and happy memories for people then I am all for that.” Chris finds that running helps him process everything that he and his family is going through and has missed being able to get out on the road since Alfie’s diagnosis. In preparation for the challenge, he’s been fitting running in before and after work, prioritising family time while sacrificing any social life, but it’s all worth it to work towards smashing his modest £500 fundraising target. Chris concludes: “We’ve had so much support from the hospital, and we’ve met other families whose little ones sadly didn’t make it. Although Alfie has a really long road of treatment ahead of him, we’re really proud of our little fighter and we wanted to do something to give back for the care and kindness we’ve received at the Queens Medical Centre, Pasic and the community.” Anyone wanting to donate to Chris or follow his progress can follow his charity page: https://www.justgiving.com/page/christopher-mitchell-1725440684458 or follow his Instagram profile @christmitchell_rtpr.

Construction of new roadside retail development completes in Rutland

Tess Egginton
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Construction of new roadside retail development completes in Rutland
Practical completion has been reached at Godwin Developments’ Ram Jam Services, a new roadside retail development in Rutland which will feature three prominent national and international F&B brands. The scheme will be home to Brightside, a modern roadside diner concept delivered by Loungers, as well as drive thru outlets for international restaurant Wendy’s and popular coffee chain Costa Coffee. The site is positioned alongside the main arterial route from Peterborough to Grantham and next to an established petrol station and a new bakery. The strengthened offer will provide additional amenities and consumer choice to drivers and passengers of the circa 41,500 vehicles that pass the site daily, as well as the residents of the local area. Ram Jam Services is positioned only 15 minutes away from Rutland Water – one of the largest man-made lakes in Europe. The area and wider county attract nearly 1.9 million visitors every year who favour it for its picturesque countryside and outdoor pursuits. Simon Handslip, Managing Director of Commercial Development at Godwin, said: “We are delighted to have completed the construction of Ram Jam Services, one of the many roadside retail schemes we are currently delivering across the country. “It has also been a real pleasure to work with the teams at Brightside, Costa Coffee and Wendy’s, and we look forward to visiting their brand-new, fully-fitted stores in the very near future. “In response to the growing consumer demand for roadside convenience, quality, and choice, we are actively assisting numerous new and established names in securing prime store locations nationwide. “Our expertise in identifying high-traffic, high-visibility sites ensures that our clients achieve maximum exposure and market share, thereby supporting their expansion plans throughout the United Kingdom.” Ketan Patel, Construction Director, Commercial at Godwin, added: “We are very pleased with the successful completion of this project, thanks to the efforts of our dedicated professional team. Their hard work and commitment have been key to delivering this outstanding result. “Intium Construction acted as the main contractor, while Cummings took on the role of the employer’s agent. RG+P provided architectural expertise, HSP handled civil and structural engineering, The Engineering Practice was responsible for mechanical & electrical, Pivotal managed the utility connections and Simply Planning dealt with all planning matters.” The development will create a number of full and part-time roles. This is set to increase further once an additional vacant unit, with a floorspace of 754 sq ft, has been leased by Godwin. With all construction works complete, Brightside, Costa Coffee and Wendy’s will now commence their fit-out programmes which are due to be concluded before the end of the year.

£24m loan provided for Wavensmere’s £75m Friar Gate Goods Yard redevelopment

Tess Egginton
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£24m loan provided for Wavensmere’s £75m Friar Gate Goods Yard redevelopment
Octopus Real Estate has provided a £24m loan to Wavensmere Homes to bring about the £75m redevelopment of the historic Friar Gate Goods Yard in Derby city centre. The nationally significant mixed-use project will reanimate two landmark Grade II listed buildings into over 110,000 sq ft of commercial space, alongside 276 new build homes. The funding agreement marks the second time Octopus Real Estate (part of Octopus Investments) and Wavensmere Homes have teamed up to deliver brownfield regeneration in Derby. The lender provided a £22m loan to facilitate the redevelopment of the former Derbyshire Royal Infirmary – off London Road – into the £175m Nightingale Quarter, which is now in the final phase of construction. Nick White, Head of Development Origination at Octopus Real Estate, said: “At Octopus Real Estate, we always want to work with stellar developers who are aligned with our vision and values. “Wavensmere has a strong reputation for delivering high-quality, sustainable homes to local communities by meticulously restoring heritage assets. We are thrilled to be working with this dynamic team again, and look forward to watching the positive impact the re-birth of Friar Gate Goods Yard will have on the city of Derby.” Within a matter of weeks, work will commence on site to restore the 19th Century Bonded Warehouse and Engine House. The two fine terracotta buildings will deliver a total of 111,275 sq ft of flexible offices, health and fitness space, a restaurant/café, together with a regional sales centre for Wavensmere Homes. Extensive new areas of open space – including play areas and pocket parks – will also be created, in addition to the retention of a TPO tree buffer, to enhance the biodiversity of the site. The elevated area adjacent to Friar Gate Bridge will become a new multi-purpose public realm and community space, with retention of some of the original railway arch facades. New vehicular, pedestrian and cycle access will be created at various points around the 11.5-acre (4.96Ha) site, from Uttoxeter New Road, Great Northern Way, and Friar Gate, with the Mick Mack cycling route also to be extended. Matt Brighton, Commercial Director of Wavensmere Homes, said: “We are proud of how Nightingale Quarter has been received by the residents who live there, the wider local community, politicians, and regional and national commentators. “Located a mile away across the city centre, Friar Gate Goods Yard is another unique and emotive restoration project that we are fortunate to have the expertise and resources to undertake. “Securing a £24m loan facility to draw down from during construction will enable us to commence work without delay and deliver an uninterrupted development programme. “Derby has become a hotbed of regeneration activity, with compelling socio-economic metrics that support our level of commitment and investment. Octopus Real Estate is a proven and trusted partner of Wavensmere, and we’re pleased to be working together on such a significant mixed-use scheme.” Wavensmere Homes has worked with Glancy Nicholls Architects and Pegasus Group to produce the detailed plans to transform the primely located historic asset, which has lain derelict since 1972. With funding from Octopus in place, the site will be brought back into public use, transforming Derby’s landscape and delivering much-needed attainable city centre housing. The designs for the 227 two- and three-bedroom townhouses that will surround the two listed buildings are bespoke. Curved and terraced street scenes will honour the beauty and vista of the Bonded Warehouse, while incorporating a range of energy saving technologies and strategies. A four-storey apartment building containing 49 apartments will also reinstate the lost streetscape of the Stafford Street frontage. The highest EPC rating of A is being targeted for the new homes, with all plots designed to be future-proofed ahead of the 2025 Future Homes Standard. The site sits just outside the Friar Gate Conservation Area, which features notable Georgian townhouses with high-quality brickwork and fine architectural detailing. The Friar Gate Goods Yard was intended as the main goods depot for the Great Northern Railway line, to handle coal, livestock, timber, and metals. Designed in 1870, and entering operation in 1878, the Bonded Warehouse building contained extensive warehouse space and offices. It was used as a store for the American Army in WWII to house ammunition and other supplies. The Engine House was also built for the Railway by Kirk & Randall of Sleaford. It is Italianate in style and built from Welsh slate. The Engine House supplied power to the hydraulic lifts and capstans at the Bonded Warehouse. The site first became derelict in 1967, and overtime became overgrown and fell into a poor state of repair. An arson attack took place at the Goods Yard in 2020, which exposed the whole inner iron structure of the two historic buildings. The Goods Yard redevelopment will promote sustainable development through the use of low carbon materials, modern methods of construction, and renewable energy generation.

Microlise Group delivers “solid performance in the first half of 2024”

Tess Egginton
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Microlise Group delivers “solid performance in the first half of 2024”
Microlise Group, a provider of transport management software to fleet operators, has “delivered a solid performance in the first half of 2024,” as stated by its CEO.

According to unaudited results for the six months ended 30 June 2024, the business saw an increase in total revenue to £39.1m, up from £33.9m in the same period of 2023, driven by strong recurring revenue growth and contributions from the acquisitions of Enterprise Software Systems (ESS) and Vita Software.

New customer acquisition, meanwhile, was “particularly strong” with 202 new direct customers added during the period.

Several major, multi-year, contract wins included WooliesX, GSF Car Parts, Foodstuffs North Island, STAF, Romac & One Stop, demonstrating execution of international expansion and company cross-sell and up-sell strategies.

Multi-year renewals signed in the period included Goldstar, DPD and M&S. Further, Microlise recently signed a five-year contract renewal with JCB covering recurring SaaS software licences and hardware sales.

Nadeem Raza, CEO of Nottingham-based Microlise, said: “Microlise delivered a solid performance in the first half of 2024. Market conditions have greatly improved following the resolution of component supply issues, and localised delays in new vehicle rollouts are expected to resolve by year-end. Ongoing market consolidation is also expected to benefit Microlise as our solutions are tailored toward larger companies which now dominate the sector.

“The positive reception to our new products, coupled with the continued integration of our recent acquisitions and the increasing interoperability of our solutions, has enhanced the appeal of our offering. As a result, we are seeing improvements in our sales pipeline both in the UK and in target geographies where our brand is becoming increasingly recognised.

“With the appointment of a new Chief Revenue Officer, we hope to be able to accelerate the growth of our pipeline while improving its conversion into contracted business. The Company looks to the future with confidence and expects to meet market forecasts for the full year.“

New MP tours Siemens Mobility

Stuart Pearcey
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New MP tours Siemens Mobility
Newly-elected North West Leicestershire MP Amanda Hack has visited the Siemens Mobility in Ashby-de-la-Zouch to understand how Siemens Mobility’s technology transforms rail travel and transport across the UK. During her visit, Ms. Hack was given a tour by Operations Director Colin Rowcliffe, where she learnt more about the design, engineering and manufacturing operations happening at the site. She said: “It was a pleasure to visit Siemens Mobility’s Ashby de la Zouch facility and see firsthand the innovative work they’re doing to shape the future of rail transport solutions. From cutting edge signaling technology, to customer information and control systems, the dedication to the future of rail infrastructure is impressive. I was also struck by the commitment to local apprenticeships and graduate programmes. I chatted to several graduates who have been supported into local skilled jobs right here in North West Leicestershire.” Colin Rowcliffe said: “We are proud of the work we do here in Ashby-de-la-Zouch and it is always great to be able to show off our talented workforce and demonstrate how we are contributing to the long-term growth and prosperity for the region.” A highlight of this was a demonstration of the Digital Station Manager, developed by Siemens Mobility at the Ashby site. This technology delivers the control system and passenger information systems for the Elizabeth line and has already revolutionised the travel experience for millions of passengers in London and is set to touch every stage of a passenger’s journey through HS2 stations. During the visit Siemens Mobility showcased its close partnership with local schools to promote STEM education within the community. Ms. Hack was able to see the important role Siemens Mobility plays in job creation and upskilling the local rail industry. The company’s commitment to nurturing the next generation of engineers was evident as the MP met with some of the sites newest graduates during the visit.

Alfreton warehouse let by customised packaging specialist

Tess Egginton
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Alfreton warehouse let by customised packaging specialist
Commercial agents at Harris Lamb have let an East Midlands warehouse to a packaging manufacture and distribution firm. The 68,689 sq ft building on Clover Nook Road, located within the established Cotes Park Industrial Estate in Alfreton, has been let to George Utz Limited, Trading as the UTZ Group. The business, which produces customised plastic packaging for logistics and storage within the automotive, pharmaceutical and electronics industries, was attracted to the building due to its proximity to its existing Clover Nook premises and a need for an additional storage facility. Matthew Tilt of Harris Lamb’s Commercial Agency team, who oversaw the letting, said: “Acting for a private Landlord client it has been a pleasure working with George Utz as they moved quickly to secure the building. “With two-storey offices, two service yards, eight-metre internal height to the haunch, and 79 parking spaces, the detached building was in good demand especially given its location being just two miles from Junction 28 of the M1.” Russell Evans, General Manager of George Utz Ltd, said: “As a growing business in the returnable transport packaging market we have outgrown our current operational footprint. This building located within a few minutes of our main UK production site offers greater flexibility and the opportunity to take control of all our warehousing services in the UK.”

Earthworks and ground improvement contractor expands with South Normanton office

Tess Egginton
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Earthworks and ground improvement contractor expands with South Normanton office
ZTL Contracting, a UK earthworks and ground improvement contractor, has opened a new office in South Normanton, Alfreton, marking a significant milestone in its growth strategy. This strategic expansion positions the company to better serve its growing portfolio of projects across the Midlands region and creates 35 new jobs. The decision to establish a presence in Alfreton aligns with ZTL’s vision of expanding its footprint and capitalising on burgeoning opportunities in one of the UK’s most vibrant construction markets. In 2023, ZTL achieved £28 million turnover. The expansion is part of the company’s broader growth strategy, designed to leverage opportunities within the logistics and infrastructure sectors. Wayne Morris, Managing Director of ZTL Contracting, said: “The Midlands region represents a vibrant landscape of new opportunities and growth for our industry. By establishing our new office in Alfreton, we’re not just expanding our geographical footprint; we’re aligning with the heart of where development is most dynamic. “This is an exciting time for ZTL as we delve into projects that not only challenge us but also enable us to contribute significantly to the region’s economic and infrastructural development. We’re here to build a better tomorrow, and the Midlands is a key part of that vision.”

Manufacturing output falls in the three months to September

Tess Egginton
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Manufacturing output falls in the three months to September
Manufacturing output volumes fell sharply in the three months to September, according to the CBI’s latest Industrial Trends Survey (ITS). Manufacturers expect output to decline again in the three months to December, the first-time expectations have been negative since November 2023. Both total and export order books deteriorated in September, relative to August, and were reported as well below their long-run averages. Expectations for selling price inflation eased in September, with prices expected to rise at a rate close to the long-run average. Meanwhile, stock adequacy (for finished goods) fell slightly, but remains close to the long-run average. The survey, based on the responses of 275 manufacturers, found:
  • Output volumes fell sharply in the three months to September, following a more modest decline in the quarter to August (weighted balance of -20% from -9% in the three months to August). Looking ahead, output is expected to fall in the three months to December (-7%), the first-time expectations have been negative since November 2023.
  • Output decreased in 14 out of 17 sub-sectors in the three months to September, with the fall driven by the motor vehicles & transport, metal products and paper, printing & media sub-sectors.
  • Total order books were reported as below “normal” in September and deteriorated relative to last month (-35% from -22%). The level of order books remained significantly below the long run average (-13%).
  • Export order books were also seen as below “normal” and deteriorated considerably relative to last month (-44% from -22%). This was also far below the long-run average (-18%) and left export order books at their weakest since December 2020.
  • Expectations for average selling price inflation softened in September (+8% from +15% in August), with the balance standing close to the long-run average (+7%).
  • Stocks of finished goods were seen as more than “adequate” in September (+11% from +15% in August), broadly similar to the long-run average (+12%).
Ben Jones, CBI Lead Economist, said: “This was a uniformly disappointing set of results for the manufacturing sector, with output falling over the past quarter, order books deteriorating and manufacturers expecting activity to soften further in the remaining months of the year. “The survey highlights that the recovery of the UK economy seen over the first half of 2024 remains fragile, with uneven progress seen across different sectors, and businesses increasingly cautious ahead of the Budget at the end of next month. “In the meantime, firms will be looking to the Chancellor to reaffirm the government’s mission of long-term economic growth, providing them with the confidence and opportunities to invest and grow. “Whether that’s building on recently announced planning reforms, introducing a Net Zero Investment Plan or reducing costs – for instance through a clearer, fairer and more competitive business rates system, or setting out a business tax roadmap that delivers a simpler, more digitised and proportionate tax system. “Coupled with a modern, international industrial strategy, the government could take a major stride in delivering the confidence businesses and investors are looking for. This has the potential to supercharge investment and UK growth over the next Budget period and beyond.”
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