Egg supplier acquires Leicestershire firm
Revenue rises at Yü Group
Revenue is up at Yü Group, the independent supplier of gas and electricity, meter asset owner, and installer of smart meters to the UK SME & corporate sector.
In a trading update for the six months ended 30 June 2025, the Nottingham business highlighted continued strong organic growth in line with management expectations. The firm delivered first half revenue of approximately £341m, up 9% on the same period of the prior year and in line with group strategy of gaining market share.
Average monthly bookings, however, at £41.4m, were down 12%, reflecting the wholesale commodity market normalising.
Yü Group further noted strong meter point growth for the fifth consecutive period. The company delivered a 48% increase in meter points versus the prior year, to close at 107,000. The group added that it continues to grow volumetric consumption and leverages off the implementation of the five-year commodity hedging agreement with Shell Energy enabling continued scaling.
Yü Smart, meanwhile, delivered value and volume, with meters owned in the period up 179% on the same period in 2024, providing 200% increase in forward annualised, indexed annuity income.
Bobby Kalar, CEO, said: “I’m pleased with our continued delivery for the first 6 months providing confidence management are in-line with expectations for the year. Our forward contract book remains strong and continues to grow despite the recent drop in wholesale energy prices.
“While I’m personally disappointed investor appetite remains restrictive, prolonged cash outflows from the UK continue to severely hinder our valuation. I would like to thank all my team for their continued support and effort. We will remain focussed on our growth strategy to deliver continued shareholder value and returns.”
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£200m economic impact forecast for East Midlands through British Business Bank support
The British Business Bank has provided crucial support to 1,700 small businesses across the East Midlands, which are set to create 1,200 new jobs and generate an estimated £600m in additional turnover by 2024/25. This assistance is projected to contribute £200m to the region’s economic output over the lifetime of the funded businesses.
A significant factor in this achievement is the £400m Midlands Engine Investment Fund II, which has already secured £37m in funding from both public and private sectors. The Bank’s increased financial capacity, now raised to £25.6bn following June’s Spending Review, allows for greater annual investments of approximately £2.5bn, facilitating higher levels of third-party investment.
The Bank’s continued focus on regions outside London is clear, with 84% of supported businesses based in these areas. This funding boost is expected to enhance local productivity, foster business growth, and create new jobs, significantly driving regional economies and supporting the Bank’s broader commitment to development across the UK.
Nottingham Accelerator supports businesses with digital and sustainability transitions
Nottingham businesses now have access to a new support initiative designed to help them transition to digital, AI, and sustainable practices. The Nottingham Accelerator project, funded by a £124,982 grant from the UK Shared Prosperity Fund, is aimed at assisting local firms in adopting new technologies, reducing their carbon footprint, and improving overall efficiency.
Delivered by East Midlands Chamber on behalf of Nottingham City Council, the project offers businesses training, expert consultancy, and a range of resources focused on digital transformation and decarbonisation. Companies can benefit from energy audits, which are funded as part of the initiative, and receive help in implementing greener practices to lower energy costs and carbon emissions. Additionally, growth vouchers of up to £2,000 are available to support the adoption of new technologies or process improvements.
The project, which runs until March 2026, is already helping numerous local businesses. With a focus on automation, productivity tools, and cyber security, the programme provides businesses with the expertise needed to enhance their operations in line with the latest technological advancements. The support is designed to assist businesses across Nottingham with practical, tailored advice and resources to fuel growth and innovation.
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East Midlands winners revealed for Defence Employer Recognition Scheme Gold Award
- Amanet
- Derbyshire Constabulary
- GI Group Holding
- Kettering General Hospital
- KwikTip
- Lincolnshire Partnership NHS Foundation Trust
- NHS Lincolnshire Integrated Care Board
- North Northamptonshire Council
- Northampton General Hospital
- On Hand Training & Security
- PointWire
- Vision West Nottinghamshire College