One of the world’s largest IT and business consulting firms has pledged £2.6 million worth of support to a major research project which is bringing together industry and academics to drive forward the evolution of the UK space sector. CGI has committed to the funding through in-kind contributions to the University of Leicester’s Manufacturing, Engineering, Technology and Earth Observation Research Centre (METEOR) over the next five years. Both organisations have bases at Space Park Leicester and signed an agreement to officially formalise the funding pledge at the world-leading research centre. The agreement builds on CGI’s extensive expertise in Earth Observation data management and the University’s decades of heritage in EO science. President of CGI’s UK and Australia operations Tara McGeehan said: “METEOR is a space research and innovation facility that brings together more than one hundred researchers and industrial research and development personnel working on the primary research challenges to the evolution of the space sector into a new era. “We’ve been proudly working with METEOR since its launch and are delighted to make this formal commitment to them today as part of our continued investment in the UK’s space sector.” CGI’s commitment to METEOR will enable the facility to use the company’s cloud-based GeoData360 platform, which allows organisations to manage and distribute large volumes of Earth Observation and Geospatial data, develop and run industrial-scale pre-processing and post-processing pipelines, and visualise complex geospatial data-sets. Academics will be able to develop, share and run science algorithms efficiently, taking advantage of cloud-native scaling. CGI’s contribution will also support METEOR through a mix of technical support, data and collaborative activities. In one recent exemplar project, CGI and the University of Leicester jointly developed a new wildfire burnt-area detection system based on machine learning. Kevin Tansey, Professor of Remote Sensing at Space Park Leicester, said: “There are strong synergies between the styles and values of our two organisations and we’re thrilled to enter into this agreement with CGI. “We have already started to work with CGI’s powerful GeoData360 platform in projects funded by the European Space Agency and Research England (SPRINT), to deliver the outputs of novel algorithms to our stakeholders. “Earth Observation data is fundamental to tackling many of today’s issues relating to climate change and contributing to sustainable environment futures. The challenge facing researchers is to manage complex processing on large volumes of Earth Observation and geospatial data in a secure environment. “Looking forward, this platform offers our students, especially those on our MSc in Satellite Data Science, a way to think about how their ideas can be deployed on GeoData360 in a cloud-based system as a service concept. “GeoData360 offers users the facility to interact with these services and provide critical feedback. Importantly, CGI can support the user engagement and explore commercial pathways. “We’ll use GeoData360 across our teaching and research activities at the University of Leicester to build a pipeline of prototype services whilst also developing important skills: cloud processing, business development and stakeholder communications, in the student cohort.” The signing event with Professor Nishan Canagarajah, President and Vice-Chancellor at the University of Leicester and Tara McGeehan, included a showcase of work that has been performed using GeoData360 and an overview of the Sustainability Exploration and Environmental Data Science (SEEDS) programme which is supported by METEOR and the University of Leicester. SEEDS is backed by the United Nations and is accelerating efforts to address climate change and strengthen research for the environment and communities. The research and technologies being developed through SEEDS are spurring low-carbon solutions and innovations and are supporting the creation of new low-carbon business models. METEOR Programme Manager, Dr Stephen Wright added: “Access to GeoData360, and working with the CGI team will enhance our ability to deliver new research and real world impact at an accelerated rate. It will also make available an important tool to our students for their projects, and can provide the opportunity for them to work with an important international company.” METEOR received funding of £13.75m for a 5,000m2 research and innovation facility from Research England, through its capital infrastructure mechanism, UK Research Partnership Investment Fund (UKRPIF).

Sales are on the up at Topps Tiles, the Leicestershire tile giant, according to a new trading update for the 39-week period ended 1 July 2023.

Trading in the third quarter saw “a continuation of the good performance” reported for the first half, with with total sales growth of 4.4% against last year. For the year-to-date 39-week period, meanwhile, total sales growth was 7.6% year on year.

The businesses is also “confident that adjusted profit before tax in the second half will be materially higher than the first half,” and that Topps Tiles will perform in line with market expectations for the year as a whole.  

Rob Parker, CEO, said: “As we celebrate our 60^th anniversary, we are pleased to be reporting a continued robust performance in the third quarter, led by Topps Tiles and Pro Tiler Tools, and the successful implementation of a business improvement plan at Parkside.

“Looking ahead, we are confident that our core strengths of leading brands, world class customer service, specialist expertise and a strong balance sheet will enable us to continue to deliver value for all stakeholders.”

Mattioli Woods, the specialist wealth and asset management business, has hailed revenue growth in a new trading update in advance of final results for the year ended 31 May 2023. Revenue was up 3% on the prior year, while profit for the year is in line with expectation. The update follows the acquisitive Leicester firm swooping for Doherty Pension & Investment Consultancy Limited and a 50.1% stake in White Mortgages Limited in the period. Ian Mattioli MBE, Chief Executive, said: “I am pleased to report further growth in revenue, which was up 3% on the prior year despite the sustained market and economic complexity that has been a feature of the recent global economy and continues to affect the value of clients’ assets.” He continued: “Our trading outlook for the new financial year is focused on securing organic growth complemented by strategic acquisitions, with targeted investment to create capacity, improve operational efficiency and enhance our clients’ experience. “Whilst inflationary cost pressures and investment in our strategic initiatives may impact margins in the short term, we are confident that we will continue to deliver attractive, long-term sustainable shareholder returns.” Mattioli Woods also announced the appointment of Michael Wright as Deputy Chief Executive Officer. Ian Mattioli said: “The Board regularly reviews the suitability of the Group’s governance structure, and reflecting the expansion of the Mattioli Woods proposition and increased size of the Group, the Board are pleased to announce the appointment of Michael Wright as Deputy Chief Executive Officer. “In this new role Michael will lead and support the delivery of certain strategic goals alongside the executive team, whilst retaining his current responsibilities. Michael was previously appointed Group Managing Director in 2019, and has been on the Board since 2021, having joined the Group 19 years ago and holding several senior advisory roles during this time.”

As sticky inflation, rising interest rates and skills gaps continue to cause concerns for businesses across the UK, a new study suggests the East Midlands may be bucking the national trend. Research from East Midlands Chamber shows firms across Derbyshire, Leicestershire and Nottinghamshire are performing well, with improvements reported in sales activity, cashflow and pricing expectations between April and June 2023. The business representation group’s Quarterly Economic Survey (QES), which is delivered in partnership with the University of Leicester School of Business, also showed a third consecutive quarterly fall in the number of businesses reporting difficulties in filling vacancies. However, there is caution ahead as the survey also showed a decline in advanced orders, future recruitment and investment intentions. The Chamber says increasing business investment is crucial to driving up productivity in order to bring down prices and, thus, inflation. East Midlands Chamber director of policy and insight Chris Hobson said: “Against a backdrop of continued challenges facing businesses when it comes to stubbornly high inflation, low growth and Bank of England decision-making, the results from our second QES of the year gives us cause for optimism the East Midlands is bucking the trend and delivering a strong performance. “While any growth is relative to what has come before in terms of how these results should be interpreted, responses to questions around concerns and events driving price pressures give further credibility to the argument that factors such as higher utility costs, inflated wage settlements and expensive fuel are all easing as problems for businesses during 2023. “The percentage of firms reporting pressure to increase their own prices has fallen sharply, down to 36% – compared to 54% last quarter and 60% three quarters ago – with a corresponding growth in those looking to keep prices the same, suggesting many of the increased costs have now been passed on. “While messaging from policymakers remains tentative, the mood music among businesses is much more positive, with 41% of firms now expecting their profitability to grow over the next quarter, an increase over the previous three quarters from 38%, 34% and 28% respectively. In contrast, those expecting a drop in profitability has fallen from 41% in Q3 2022 to 26% this quarter. “We’re clearly not completely out of the woods yet – advanced orders saw a slight slowdown and investment intentions remain stubbornly low – however, the regional economy is continuing the pick-up that began at the start of this year. A more stable policy environment over recent months will have supported an improvement in sentiment. “As we get closer to a general election, it’s important that politicians and institutions behave responsibly with regards to policy announcements and fiscal decisions. The UK economy has already defied the expectations of six months ago – it’s important to capitalise on this now and not do anything that may inadvertently rock the boat. “At the same time, it remains imperative that Government backs business by focusing on what we call the ‘four Is’ – investment, innovation, infrastructure and international trade – all of which is laid out in our regional economic blueprint, A Centre of Trading Excellence: A Business Manifesto for Growth in the East Midlands and Beyond.” East Midlands Chamber QES Q2 2023 data Key findings from the Quarterly Economic Survey Q1 2023 for the East Midlands, which was completed by 340 organisations between 15 May and 9 June 2023, included: · UK and overseas sales grew by a net 4% and 8% respectively between the first and second quarters of the year, but advanced UK and overseas sales were down by 5% and 1% respectively · 62% of businesses added to their headcount in Q2 2023, compared to 60% in the previous quarter and 57% before that · While recruitment is growing, problems persist also less intensely than previously – with seven in 10 businesses that attempted to recruit experiencing problems in filling roles, compared to eight in 10 at the end of last year · Rising prices resulting from cost pressures for energy, raw materials, people and fuel are easing, with a net 31% of businesses expecting they will be forced to raise their own prices – down from a net 52% in the previous quarter · While a net 2% of firms reported a decrease in cashflow, there was an 11% positive swing compared to the first three months of the year · Investment intentions, having grown in Q1, are trending downwards again, with a 3% decrease quarter on quarter for both investment in plant and machinery, and investment in training · The trajectory of business confidence shows a mixed picture, with confidence in turnover prospects down by 1% compared to the previous quarter but up by 7% for profitability expectations. Professor Mohamed Shaban, associate dean for business and civic engagement at the University of Leicester School of Business, said: “Currently, business sentiment is cautious in relation to the domestic market, with sales falling compared to the previous quarter. “The general outlook is consistent with views expressed in the previous quarter. Businesses involved in overseas markets also reflect this caution. The business environment is likely to be affected by mixed expectations in relation to future political leadership and monetary policy decision. “There is no significant increase in recruitment, reflecting the hesitancy of many East Midlands businesses. Additionally, the shortage of employees applying for highly skilled full-time jobs highlights the importance of much-needed investment to upskilling the workforce, particularly regarding support from the educational institutions for local businesses. “Inflation is still at undesirable levels. The slight positive increase in business confidence is likely to be crushed next quarter by the recent increase in the Bank of England base rate to 5%, which will likely impact investment decisions and businesses’ profitability in the short and medium term.”