Sales soar at Next
Microlise delivers record performance
Microlise Group, a provider of transport management software to fleet operators, has hailed “strong” results for 2024, delivering a record performance.
Revenue at the Nottingham-based firm grew to £79.5m, according to audited results, increasing from £71.7m in 2023. Meanwhile, adjusted profits increased 16% to £6.5m.A cyber incident cost the business £4.4m, though this is expected to be covered in full by cyber security insurance.
The year further saw over 375 new customers, including companies such as GSF, Woolies, STAF and FSSI, and 52 contracts were renewed, including JCB, Bidfood, Sainsbury’s and Cemex.
Microlise also experienced strong international growth with new direct customers secured in Australia, New Zealand and France.
Nadeem Raza, CEO of Microlise, said: “Microlise delivered record performance in FY24, exceeding market expectations in cash levels and adjusted EBITDA which is reflective of our comprehensive growth strategy and continually improving customer offerings. We have continued to secure major customer contracts and have renewed our longstanding partnerships with longstanding customers such as JCB.
“Toward the end of the year, the hard work of the Microlise team and our previous commitment to cyber security ensured that we successfully navigated a cyber security incident, loosing no customers and we have continued to build and convert our new business pipeline.
“We remain focused on improving our customer offering and expanding our international business in key geographies such as Australia, New Zealand and France. Our strong pipeline, paired with our growing international footprint gives us much to look forward to in 2025 and I would like to thank everyone at Microlise for their hard work in the period.”
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Greencore renews takeover bid for Bakkavor
Greencore has made a third takeover bid for rival food supplier Bakkavor after its previous £1.1 billion offer was rejected earlier this month. The latest proposal values Bakkavor at 189p per share, offering a 25% premium on its market price.
The offer includes 85p in cash per share and 0.523 Greencore shares, with Bakkavor shareholders also eligible for a 4.8p dividend. If accepted, Greencore shareholders would own 59.8% of the combined company, while Bakkavor investors would hold 40.2%.
Both companies are major UK food manufacturers, supplying ready meals and food-to-go products to supermarkets. Greencore, headquartered in Ireland with a UK base in Worksop, turned over £1.8 billion last year and operates 14 factories nationwide. Bakkavor, which generated £2.3 billion in revenue in 2024, runs 20 factories and four distribution centres. The company has faced supply chain disruptions, including a strike at its Spalding site that led to shortages of dips, soups, and wraps.
Bakkavor’s board has rejected Greencore’s offers, stating they undervalue the company and its prospects. Greencore said it remains open to strategic opportunities but has not confirmed whether it will make a firm offer.
Anglian Water expands emergency water supply capacity in East of England
Anglian Water has signed a new three-year agreement with emergency water supplier Water Direct to enhance rapid-response water deliveries across East England. The deal ensures up to 20,000 emergency water deliveries per year for households on Anglian Water’s Priority Services Register (PSR), which supports vulnerable customers during supply disruptions.
The partnership, which dates back to 2008, increases Anglian Water’s reserves in Water Direct’s Nationwide Bottled Water Bank (NWBW) for faster emergency response. Water Direct has committed to delivering water to at least 2,000 households within 24 hours when required.
The agreement aligns with regulatory changes expected to expand the number of customers eligible for PSR support by up to 40%. By outsourcing emergency deliveries, Anglian Water can reallocate internal resources to focus on resolving supply issues, improving operational efficiency.
Water Direct is also developing a technology platform to enhance real-time tracking, customer data verification, and delivery management, ensuring more efficient and transparent emergency water distribution.
Vaillant opens £40m Derby plant, creating 200 jobs
Vaillant has opened a £40 million manufacturing plant in Derby, adding 200 jobs to the local economy. The facility at Indurent Park will produce hot water cylinders, including the new uniSTOR high-recovery range, set to begin production next month.
The plant, which spans 12,200 sq m, includes manufacturing and warehousing space and incorporates sustainability features such as rainwater harvesting, energy-efficient lighting, and heat pump technology.
Vaillant, a global heating and cooling solutions provider with 17,000 employees, has expanded its UK manufacturing presence to meet the growing demand for low-carbon heating solutions. The company previously launched the UK’s first boiler manufacturer-led heat pump plant in 2022.
Energy Secretary Ed Miliband highlighted the plant’s role in supporting local employment and advancing the UK’s low-carbon transition. Vaillant Group UK’s plant director, Joe Dunn, emphasised the company’s commitment to Derbyshire, its historic roots, and its continued investment in sustainable heating technology.
Retailers boost wages as competition for workers intensifies
Major UK retailers have increased pay rates in 2025 to attract and retain staff amid rising living costs. Aldi, Lidl, Tesco, and John Lewis offer higher wages for store employees.
Aldi raised its minimum hourly rate to £12.75 nationally and £14.05 within the M25 in March, with further increases to £12.85 and £14.16 set for September. Lidl matched Aldi’s £12.75 national rate and pays £14.00 within the M25, with longer-serving staff earning up to £13.65 nationally and £14.35 in London.
Tesco has invested £180 million in wage increases, setting hourly pay at £12.45 to £12.64 nationally and up to £13.85 in London. John Lewis and Waitrose opted to reinvest £114 million into employee wages instead of offering partner bonuses, setting new shop floor rates at £12.40 nationally and £13.85 in London.
Other retailers making notable pay increases include B&Q (£12.71 nationally, £14.05 in London), Sainsbury’s (£12.45–£12.60 nationally, £13.70–£13.85 in London), and Marks & Spencer (£12.60 nationally, £13.85 in London).
The pay hikes reflect ongoing competition in the retail sector to offer competitive wages and retain workers in a tight labour market.
CityFibre expands UK footprint with Connexin acquisition
CityFibre has acquired Connexin’s full-fibre infrastructure, expanding its presence in Hull and East Riding and adding up to 185,000 premises to its network. The financial details of the deal have not been disclosed.
The acquisition includes Connexin’s existing network, which covers more than 80,000 premises, with plans for an additional 20,000. CityFibre will also take over Connexin’s Project Gigabit contract, delivering gigabit-capable broadband to over 34,000 hard-to-reach premises in Nottinghamshire and West Lincolnshire.
Connexin’s XGS-PON network will be integrated into CityFibre’s wholesale services, with full integration expected later this year. This move aligns with CityFibre’s broader strategy to reach at least eight million premises across the UK.
This acquisition follows CityFibre’s purchase of Lit Fibre in May 2024 and previous deals, including FibreNation from TalkTalk in 2020 and national network assets from KCOM and Redcentric.
Founded in 2011, CityFibre is a fibre-only provider competing with Openreach and Virgin Media O2. The company sees market consolidation as essential for the UK’s fibre rollout.
Skegness hotel sold
