Yü Group reports “fantastic year”
The CEO of Yü Group, the independent supplier of gas, electricity and water to the UK corporate sector, has hailed “another fantastic year,” with record breaking financial performance and significant strategic progress.
According to the Nottingham firm’s final audited results for the year to 31 December 2022, revenue grew 79% to £278.6m, up from £155.4m in the year prior.
Pre-tax profits, meanwhile, rose 72% to £5.8m from £3.4m.
Bobby Kalar, Group Chief Executive Officer, said: “I’m pleased to report another fantastic year for Yü Group. We have once again clearly demonstrated our ability to surpass financial performance metrics and, with the strong momentum we have in the business, we are confident of this recurring theme continuing into 2023.
“Our record breaking financial performance and significant strategic progress is a testament to the strength of the Group. Revenue increased 79%, EBITDA increased 359%, contracted revenue is up 57% and cash increased by £11.9m. Reflecting our continued confidence in the business we are also pleased to recommend the reinstatement of a progressive dividend policy. To achieve this despite the backdrop of a turbulent energy market is credit to the strong foundations we have in place and the ability and character of the team.
“It’s been a busy year! Developing and integrating our smart metering business, Yü Smart from a standing start to a fully functioning business performing at pace has been a particular highlight. I’m proud to lead a team who have seized this opportunity to build and grow new capabilities. I clearly see the ability for the Group to accelerate its profitability by leveraging off our growing revenues and providing new services. Cash flow and cash management will remain a key focus, including through our smart meter rollout.
“The EBRS scheme has worked well and rightly delivered support to our business customers. We will continue working with BEIS to champion assistance to UK businesses.
“Whilst our industry has been plagued by negative impacts and a lack of investment and support, I am immensely proud to report our progress and development. The market opportunity is huge, we have a scalable platform, and we are primed and ready to grow.
“We have got off to a fantastic start in 2023 with our exceptional performance continuing. Whilst we remain vigilant, we look forward to delivering continued shareholder value in 2023 and beyond.”
Nuclear reactors from Rolls-Royce to power Australian submarines
Rolls-Royce Submarines Ltd will provide the reactors for Australia’s first nuclear powered submarines.
The announcement will see thousands of jobs created for Rolls-Royce and across the UK supply chain.
Rolls-Royce Submarines, based in Derby, currently employs more than 4,000 people and designs, manufactures and provides in-service support to the pressurised water reactors that power every boat in the Royal Navy’s submarine fleet.
Steve Carlier, president – Rolls-Royce Submarines Ltd, welcomed the news, saying: “We are delighted to be asked to play our part in delivering this element of the AUKUS Agreement and are well prepared to support through our nuclear expertise and engineering excellence.
“For over 60 years we have provided the power to the Royal Navy’s nuclear submarines and we are proud to be playing a critical role in helping Australia acquire their own nuclear propulsion submarine capability.
“This is great news for Rolls-Royce and for the country as a whole with the creation of more UK jobs and an opportunity to showcase British innovation and expertise on the world stage.”
Rolls-Royce is currently supporting the existing Astute and Dreadnought boat build programmes through the delivery of reactor plant and associated components. Additionally, it provides frontline support across the world for reactor plant equipment from its Operations Centre in Derby and supports the submarines when in the Barrow-in-Furness shipyard and the naval bases at Devonport and Faslane.
To ensure a steady pipeline of future talent into the industry, Rolls-Royce last year opened a new Nuclear Skills Academy in Derby, which will provide 200 apprenticeships each year for at least the next decade.
Staff at science company with Derbyshire HQ vote to save lives after naming St John Ambulance their new charity
Hundreds of employees at a chemistry company with a Derbyshire headquarters will be helping save lives after nominating St John Ambulance as their next adopted charity.
Lubrizol, a science company whose research and development function and headquarters is based at Hazelwood near Belper, has now announced that the leading first aid organisation will be its next charity partner over all its UK sites.
The partnership means that Lubrizol’s employees will be undertaking a series of fundraisers aiming to raise thousands of pounds for St John Ambulance over the next two years.
Lubrizol has around 350 staff at its Hazelwood headquarters and hundreds more at a further four sites around the UK.
The company’s support for St John Ambulance comes after its previous two years of fundraising raised a phenomenal £28,282 for mental health charity Mind. The company’s achievement in raising the money was all the more remarkable because staff were forced to undertake many charitable activities on their own because of Covid lockdowns.
Representatives from St John Ambulance joined staff from Lubrizol’s charities and communities committee at a recent charity day, where they told how all money raised would go towards helping save lives.
Eva Szabo, corporate partnership officer for the charity, told employees: “Every single donation that you raise will go towards saving a life. We are really looking forward to going on our fundraising journey together so thank you in advance!”
Eva was joined at the day by Heather Powell, volunteer unit manager at St John Ambulance in Derby.
Heather said: “One of our main aims at St John Ambulance is to make sure that as many people in the community as possible are trained in first aid so anybody can help in an emergency.”
Eva added: “CPR has been in use in some form since 1740 but still to this day not everybody is confident enough to know what to do to help save a life.”
In the UK, more than 30,000 people suffer a cardiac arrest every year. When this happens, every second counts and the key to survival is early chest compressions and early defibrillation.
Without lifesaving intervention the chances of survival start to decrease by about 10 per cent with every passing minute.
Eva said: “We need support from companies like Lubrizol to help us train and equip as many people as possible with the skills needed to help save lives. We don’t want anybody to have any regrets. Every single person has the potential to make a difference in an emergency, and every single donation raised has the potential to save somebody’s life.”
Tom Grazier, co-chair of the communities and charities committee at Lubrizol, said: “I’m delighted that we will be supporting St John Ambulance for the next two years. Our charitable work is very important to us at Lubrizol and we’re really looking forward to working with this fantastic charity in supporting their life-saving work.
“It’s very powerful to think that the money we raise will be put to good use in saving lives. Every charity we support has been voted on by employees here at Lubrizol and this time St John Ambulance emerged as a clear favourite.
“We’re very proud to be giving them our support. Staff from around our Lubrizol sites will be getting their thinking caps on and coming up with some great ideas as to how we can raise vital funds for this great cause.”
Digital transformation company moves global headquarters to Chesterfield’s Northern Gateway Enterprise Centre
Chesterfield’s Northern Gateway Enterprise Centre has welcomed another new tenant, with Konektio relocating to the town from nearby Clay Cross.
The company, which specialises in digital transformation solutions for the industrial and manufacturing industries has chosen the centre due to it’s ideal location and connectivity.
Commenting on the move, Peter Stephens, CEO at Konektio, said: “We are delighted to announce the relocation of Konektio’s global headquarters to the Northern Gateway Enterprise Centre.
“As a leading provider of Industrial IoT and Energy Monitoring applications, we are enabling the digital transformation for the industrial and manufacturing sectors. Konektio creates significant value for our clients across the UK, Europe, and the US with turn-key solutions for asset condition-based monitoring and energy usage solutions. We help our customers tangibly reduce their operating and energy costs, improving their profitability whilst reducing their impact on the environment.
“The decision to select the Northern Gateway Enterprise Centre was a strategic one, as the Centre offers an outstanding business environment and top-notch facilities that align with Konektio’s vision and support our customers and rapid organisational growth.”
Since opening in Summer 2022, the Enterprise Centre has gone from strength-to-strength, with more than 60% of the space already occupied, and less than a dozen of the 32 office spaces now remaining.
Nottingham Castle planned to re-open in June, if proposals approved
Nottingham City Council has set out plans which will see Nottingham Castle fully re-open in June, if councillors give them the go-ahead next week.
Under the proposals, the council will take the operation of the castle site back into its Museums and Galleries service, which will run it alongside other heritage sites such as Newstead Abbey and Wollaton Hall.
If approved, it will mean that with some preview events planned from as early as May, local people as well as visitors will once again be able to enjoy the city’s key historical site and that the castle can resume making its contribution to the wider local economy estimated to be valued at £12m to £14m.
A report to be considered by the council’s Executive Board on Tuesday 21 March outlines other options, including mothballing the site and initially only reopening the grounds. But the option to fully reopen is being recommended for approval, with up to £2.1m earmarked in the council’s medium-term financial plan for its operation over the next three financial years.
If the recommendation is approved next week, it will trigger an activation period of around three months to recruit and train staff and set up any systems and processes needed for fully reopening the castle. It is proposed there will be start-up activities from May in the grounds to give people the opportunity to rediscover the site ahead of full reopening. Further details about the proposed programme of activities and pricing structure would follow if a decision is taken to reopen.
Alongside the reopening, it is proposed to undertake a lessons learned exercise as part of an assessment into how to best operate the castle. This will help inform future decisions around what would provide the council with the delivery model for the site that allows for the best experience for all visitors.
The decision is being taken after the castle closed last November following the external operator Nottingham Castle Trust declaring itself insolvent. All the features of the redeveloped site will be available to visitors under the council’s proposals.
The City Council’s Portfolio Holder for Leisure, Culture & Planning, Cllr Pavlos Kotsonis, said: “We know there is a lot of love for Nottingham Castle and we were all devastated when it closed last year.
“We committed to looking at ways to reopen the castle as soon as possible after Nottingham Castle Trust went into liquidation and handed the site back to us. This report recommends a way to do that by using the expertise of the council’s well-established Museums and Galleries service, which has previously run the site and has the skills, specialist knowledge and cultural partnership connections to quickly mobilise and successfully animate the site with a programme of activities.
“It is important to get this right and officers have worked tirelessly to achieve that, I am proud of the work done.”
Minister meets employers and apprentices at Loughborough College
Government Minister Robert Halfon met with local employers and apprentices during a visit to Loughborough College as part of National Careers Week.
The Minister for Skills, Apprenticeships and Higher Education also spoke with officers from the LLEP Careers Hub as he learned about its work with the college and other schools and employers in the area.
Mr Halfon went on to meet representatives of CR Civil Engineering and Cadent to ask about why they get involved with local apprenticeship programmes and how it can be made easier for more employers to get involved.
Both companies are part of the LLEP Careers Hub’s Cornerstone Employer Group – 10 local firms, with a strong focus on inclusion, which serve as an informal steering group.
Earlier in the day, Mr Halfon had toured Loughborough College and met with Baroness Nicky Morgan, Chair of the Careers and Enterprise Company (CEC), and CEC Chief Executive Oli de Botton.
Baroness Morgan chaired a round table discussion of local careers provision, which included an introduction to the Leicestershire Careers Hub from LLEP Careers Hub Lead Gerarde Manley.
She was joined at the table by Jo Maher, the college’s CEO, Loughborough MP Jane Hunt, and apprentices and employers who work with both the Careers Hub and Loughborough College.
Baroness Morgan said: “Loughborough College is a fantastic example of what modern careers education is all about.As a result of well-structured careers programmesyoung people are becoming more career ready. They now meet and know more about local employers and pathways like apprenticeships.
“All this work is being driven locally by the Careers and Enterprise Company’s Careers Hub, connecting with the local economy and helping to improve provision in schools and colleges – building young people’s social capital, so they are ready for the future.”
Carl Roberts, MD at CR Civil Engineering, said: “The important work that the LLEP Careers Hub and its Cornerstone Employer Group do hopefully brings a little bit of influence from the employer side and gets our voices heard in education.”
Works progress on second phase of Horizon 29 in Derbyshire
Pivotal construction works led by McLaren Construction (Midlands and North) are progressing well for Phase 1B of the prominent industrial and distribution hub, Horizon 29, in Bolsover, Derbyshire.
Located one mile from Junction 29A of the M1, Horizon 29 is a new landmark distribution development, which once complete will span 1,150,256 sq ft and have a total of eight warehouses, delivered over three phases.
McLaren Construction (Midlands & North) commenced construction on Phase 1B in November and will be delivering design and construction work on two new speculative builds (Units 4 and 5), with extensive ground remediation works to stabilise the former coal site, which will complete this summer.
Works delivered to date for Unit 4 of Phase 1B include earthworks and VSC piling, concrete foundations and steel framing alongside lift shaft and stair installations. The installation of nets for roofing works and office elevation cladding are due to complete this month.
Earthworks are also complete for Unit 5 and concrete foundations have commenced alongside the construction of steel framing. CMC piling is also due to be finished this month.
The contractor is also in the process of constructing two single storey distribution warehouses for P1A (Units 1 and 2), which are due for completion in April, and all units at Horizon 29 will be constructed to a BREEAM Rating of ‘Excellent’ with an EPC ‘A’ Rating.
Sustainable features of the industrial and development hub include solar PVs, air source heat pumps, enhanced cladding, responsibly sourced sustainable materials, LED lighting and electric vehicle charging points.
All external works are being undertaken by McLaren Construction (Midlands & North) including general hardstanding, car-parking, electric vehicle charging points, landscaping, mains services and drainage.
Gary Cramp, Managing Director of McLaren Construction (Midlands and North), said: “We are delighted that works are progressing well at Horizon 29 P1B and we’re on track for completion this summer. In a prime location in the Midlands, 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.
“Working with Bentall Green Oak and Equation Properties for the second phase of the build has allowed us to solidify our strong working relationship and we are incredibly pleased to be working with them across two pivotal phases of this landmark scheme.”
Equation Properties is a London-based property development company for the distribution and industrial sector.
Dick Smallman, construction director at Equation Properties, said: “We are delighted to be working with McLaren on the second phase of this prestigious development, the scheme is progressing extremely well. This is a high-quality product in a premier location.”
McLaren Construction (Midlands and North) Ltd is part of McLaren Group – a group of companies formed in 2001 which operate in construction, property and development throughout the UK and UAE.
East Midlands Chamber launches Enterprising Women Awards 2023
Businesswomen have until April 27th to enter East Midlands Chamber’s Enterprising Women Awards for the current year.
Women in business across the Chamber’s membership base in Derbyshire, Leicestershire and Nottinghamshire can apply for the 10 category awards – which cater for a range of careers from apprentices and employees, to entrepreneurs and long-standing achievement.
The Enterprising Women Awards launch was attended by more than 80 delegates. Emily Smith, the managing director of AVW Fabrications and finance and operations director at Michael Smith Switchgear, who was crowned Business Woman of the Year at the 2022, awards, was the keynote speaker.
Coaching experts Sandra Whiles and Amanda Daly also ran informative workshops on leadership and trust, respectively. Generation Next champion Scarlett Tinsley, who is the business and marketing manager at Leicester-based ER Recruitment, spoke about the benefits of both Chamber networks for young female talent.
Enterprising Women is led by co-chairs Jean Mountain and Eileen Perry. Through its networking opportunities and inspirational events, it creates an environment for women in business to connect and grow their knowledge, and equips them with the tools to succeed.
Jean, who co-founded the network in 1997, said: “The Enterprising Women Awards are a fantastic showcase of the strength of female talent we have here in the East Midlands, and we’re delighted to bring the celebration back this year.”
Eileen, who is the managing director at ER Recruitment, added: “We’ve been running our awards programme since 2013, and every year the calibre of talent never fails to impress us. We are looking forward to reading seeing another cohort of what undoubtedly will be fantastic applications this year.”
The Enterprising Women Awards 2023 categories are:
- Business Woman of the Year (sponsored by Michael Smith Switchgear)
- Female Entrepreneur of the Year (sponsored by Fraser Stretton Property Group)
- Social Commitment (sponsored by She Inspires)
- Small Business of the Year (sponsored by Unique Window Systems)
- Female Employee of the Year (sponsored by Nelsons)
- Team of the Year (sponsored by Breedon Consulting)
- She Who Innovates (sponsored by Pick Everard)
- Apprentice of the Year (sponsored by Futures Housing Group)
- Rising Star (sponsored by The Turnaround CEO)
- Lifetime Achievement (sponsored by Paradigm Wills)
- Other supporters of the awards include music sponsors PPL PRS, and video sponsors AVIT Media.
Derbyshire launches final round of consultations on minerals plan for county
Derbyshire’s businesses have been invited to have their say in the final round of public consultation about a new Minerals Local Plan for Derby and Derbyshire outside the Peak District National Park.
The newly-published draft plan contains the policies that are being proposed to guide planning decisions on applications for new or extended quarries and other minerals extraction up to 2038.
Measures to avoid and minimise potential environmental impacts of mineral extraction or quarrying which can raise concerns for local communities are also set out in the plan.
Details about the consultation and how to take part are available on Derbyshire County Council’s website.
A series of drop-in sessions will also be held for members of the public to find out more at:
- Belper Library – Tuesday 21 March 2023 – 2.30-6.30pm
- Wirksworth Library – Tuesday 28 March 2023 – 2.30-6.30pm
- Buxton Library – Monday 3 April 2023 – 2.30-6.30pm
- Scropton Village Hall – Tuesday 4 April 2023 – 2.30-6.30pm
- Dronfield Library – Monday 17 April 2023 – 2.30-6.30pm
- Borrowash Library – Wednesday 19 April 2023 – 2.30-6.30pm
- Chesterfield Library – Wednesday 26 April 2023 – 2.30-6.30pm
- Bolsover Library – Friday 28 April 2023 – 2.30-6.30pm
Public support for £1.14bn East Midlands devolution plans
The results of a consultation on devolution proposals for the East Midlands have been published, showing substantial support for the plans.
Local leaders are backing devolution to promote economic growth, secure more investment in our area, for more and better jobs, and for better transport, skills training, housing, and an enhanced greener environment. It would also mean more power in local hands.
Thousands of people took part in the consultation, which took place from November 2022 to January 2023. It was open to residents, businesses, community and voluntary groups, and other employers in Derbyshire, Nottinghamshire, Derby, and Nottingham.
There were 4,869 responses to the consultation overall, from members of the public and people answering on behalf of an organisation. The number of responses was higher than similar consultations on devolution in other areas.
The majority backed the proposals:
- 53% agreed with the proposals for transport, compared to 35% disagreeing.
- 52% agreed with the proposals for skills, compared to 32% disagreeing.
- 51% agreed with the proposals for reducing carbon and improving the environment, compared to 33% disagreeing.
- 51% agreed with the proposals for public health, compared to 33% disagreeing.
- 46% agreed with the proposals for homes, compared to 39% disagreeing.
