Full reinstatement of Derwent Rail service welcomed
The reinstatement of a full seven days a week rail service from Matlock to Nottingham has been welcomed by Derbyshire County Council Leader Councillor Barry Lewis.
Councillor Lewis added his voice to the campaign to have the full service on the Derwent Valley Line reinstated after it was suspended by East Midlands Railway (EMR) as part of cutbacks to 43 services at the start of the coronavirus pandemic. It briefly restarted again in May 2021 only to be cut back again shortly afterwards.
EMR blamed shortages of rolling stock, high levels of staff absence because of covid and operational issues for cutting the service.
The change to the service, which had been running since 2008, resulted in passengers travelling from Matlock to Nottingham having to change at Derby and seeing their journey times double as a result.
A petition calling for the service to be reinstated was launched in July 2021, gathering more than 10,000 signatures, with Councillor Lewis joining campaigners including Derbyshire and Nottinghamshire MPs, the Derwent Valley Community Rail Partnership and The Friends of the Derwent Valley Line, to call for the return of the service to its pre-pandemic level.
Two well-attended public meetings were organised by Belper Town Council and the Derwent Valley Community Rail Partnership and Councillor Lewis met with EMR management at County Hall in Matlock urging them to listen and take action.
Councillor Lewis lobbied Government, writing to several rail ministers and Transport Secretaries in post since 2021, and in May last year he joined forces with Derby City Council Leader Councillor Chris Poulter to write to the then Secretary of State for Transport Grant Shapps, outlining the importance of the service to the area and calling for Mr Shapps to intervene to get it reinstated as soon as possible.
In May 2022 EMR reintroduced through services from Matlock to Nottingham again on Sundays and in December 2022 they introduced three morning and three evening peak time through services from Monday to Friday.
However, campaigners including Councillor Lewis, felt this did not go far enough and continued to call for a full reinstatement.
EMR has confirmed that all day through services seven days a week are due to resume this May when the timetable changes again.
Councillor Barry Lewis said: “I am extremely pleased to hear that EMR is to reinstate the full through service between Matlock and Nottingham as its withdrawal has had a major impact on the area, our residents, businesses and visitors, with a knock-on to the local economy and our tourism trade.
“The effect on people’s everyday lives, for example getting to work or to school and college has been significant and has really taken its toll.
“Thanks must go to the officers at the county council who have used their expertise and worked very hard on this to ensure a positive outcome.
“It’s to be welcomed that EMR has listened to the many thousands of people, groups and organisations, including Derbyshire County Council, who have called for this important service to be reinstated and it really can’t come soon enough.”
Local businesses have also welcomed the announcement.
Rupert Pugh, development director at Heights of Abraham in Matlock Bath, said: “We are delighted and relieved to hear the news.
“The service from Matlock to Nottingham is of key importance to the local community and to us here at the Heights of Abraham.
“Train services really do help to reduce the number of cars on the road, especially as many Matlock Bath and Heights visitors do come from the Nottingham area.
“The May reinstatement coincides with special events planned here at the Heights, so it’s great that we can now promote the train route alongside our events.”
David Bold, resort director at Gulliver’s Kingdom, said: “We’re really pleased to hear that this important train line from Matlock to Nottingham is to be reinstated.
“For us here at Gulliver’s Kingdom, along with the rest of the tourism and hospitality industry in the Peak District, having a variety of easily accessible, reliable and cost-effective transport options available to our customers is vital.
“2023 sees Gulliver’s celebrate its 45th anniversary and we have exciting plans ahead as we look to continue our role as a popular tourist destination in this area welcoming thousands of visitors each year. Today’s news is a welcome boost for us and the local economy.”
New strategic development partnership to push forward Derby city centre regeneration
Derby City Council is seeking to develop a long-term partnership with a strategic development partner to drive forward key regeneration sites within the city centre, ensuring that current momentum is maintained and leveraging the full potential of Council-owned assets.
Derby is a city of growth and economic significance, representing a regional economy of around £15bn, a key centre of excellence in advanced manufacturing, and one of the UK’s most central and connected cities by rail, road and air. Not only is the city home to the primary UK sites of global industrial players such as Rolls Royce, Alstom and Toyota, but also a centre for technological innovation.
Despite this, the city centre does not currently reflect Derby’s economic status. Derby is on a journey to transform into a vibrant city centre with culture at its heart, already capitalising on several exciting opportunities. These include the Becketwell development, Market Hall redevelopment, Eastern Gateway project, HS2 East status for Derby rail station and the recently launched Derbion masterplan.
Councillor Chris Poulter, leader of Derby City Council, said: “We’re really excited at the prospect of working with a Strategic Development Partner with a strong track record who will support the redevelopment of key areas of the city which require urgent investment.
“The partnership is a brilliant opportunity which will allow us to push forward with our ambitious plans for a vibrant city centre, delivering economic growth and attracting further private sector investment.
“Several major projects are already underway, but this is only the start. Despite a ‘perfect storm’ of rising costs, abnormally high inflation rates and increasing demand which have resulted in unprecedented budget pressures, the Council is committed to exploring ways of maintaining momentum around the delivery of our city centre regeneration priorities.”
A new vision is being developed for the city centre which incorporates culture, retail, living, workspace and learning, whilst also recognising the need for higher quality public and green spaces.
It is hoped that the partnership will combine the extensive innovation, insight and experience of a strong private sector delivery partner with the Council’s vision and understanding of the city’s needs. The partnership also represents an opportunity to attract further funding and investment which will drive forwards three key priorities:
Cultural Heart of the City – Primary regeneration and development opportunity around which the council are seeking to collaborate with its selected partner.
The ‘Cultural Heart of the City’ is the term given to a prominent core city centre environment, centered around the Market Place, encompassing the newly refurbished Market Hall and the highly successful QUAD cinema, close to the River Derwent and the Cathedral.
The area includes several significant development sites owned by the Council, including the former Assembly Rooms site and attached multi-storey car park.
In January 2023, £20m of Government funding through the Levelling Up Fund was announced to support Derby City Council, University of Derby and Derby Theatre’s plans to redevelop the Assembly Rooms site into a nationally recognised learning theatre. This could not only transform the city centre, but also act as a catalyst and anchor for further commercial development in the Cultural Heart area.
Northern Gateway – An emerging development opportunity within the Cathedral Quarter, with the most significant sites, Queens Leisure Centre and Chapel Street multi-storey car park being owned by the Council.
Partially within the city centre conservation area, and including some locally listed buildings, the area benefits from key cultural assets including the home of Déda (a creative centre for dance and movement, backed by Arts Council England) and the Flowerpot public house, a well-established local live music venue.
Bold Lane – A vacant development site in the Cathedral Quarter and adjacent to Sadler Gate Studios, operated by Connect Derby (Derby City Council’s managed workspace operation). The site is also opposite the Bold Lane multi-storey car park.
If approved at Cabinet, expressions of interest to establish the level of interested partners are expected to open in March 2023, with invitations to bid being issued in April 2023. It is anticipated that a strategic development partner will be selected in late Summer 2023.
Work begins on £8.6m Campus for Future Living in Mablethorpe
Construction to bring the pioneering health and education facility The Campus for Future Living has officially started in Mablethorpe.
Contractors Lindum Group cut the first piece of turf for East Lindsey District Council’s flagship Town Deal project at a celebration event on Wednesday, 8 February.
The £8.6m project, supported by the Connected Coast board, is the first council-led Town Deal project to start being delivered to level up the district and transform communities.
The programme of works is scheduled for completion in spring 2024.
Cutting the first piece of ground was Victoria Atkins MP for Louth and Horncastle, watched by Cllr William Gray, Campus Political Lead for East Lindsey District Council; Chris Baron, chairman of Connected Coast; Professor Mark Gussy from the University of Lincoln and local and national partners including representatives from the Marisco Medical Practice, Mablethorpe and Sutton on Sea Town Council, Health Education England, Medical Technologies Innovation Facility, Linkage Trust and NHS Lincolnshire ICB.
The Campus for Future Living on Stanley Avenue offers significant potential to improve the health and wellbeing for residents in Mablethorpe, the Lincolnshire coast and wider East Lindsey. For the first time, Mablethorpe will be at the forefront of medical innovation, training, research and development.
The main Campus building will include the following facilities:
• Two large consultation rooms
• Seminar and teaching rooms
• An event space including a coffee hub
• Pathology laboratory and additional laboratory space
The campus site also includes an accommodation block, a children’s play area, a 35-space car park including eight disabled bays and electric vehicle charging points.
Cllr William Gray, Portfolio Holder for Communities and Better Ageing and Political Lead for the Campus for Future Living, said: “This is an exciting day for Mablethorpe and for everyone involved in making the Campus of Future Living a reality.
“Through the backing of the Government through the Town Deal, we are enabling millions of pounds to be invested in Mablethorpe to help improve the lives of residents, bring them new health opportunities and attract inward investment to the Lincolnshire coast. The benefits will be long lasting for our communities.
“We will, of course, be keeping residents and stakeholders updated on the progress of the construction works as the Campus for Future Living takes shape. I look forward to seeing it progress over the coming year.”
Chris Baron, Chair of Connected Coast, said: “The start on site is a significant milestone that takes us a step closer to realising the exciting vision for the Campus for Future Living.
“The Campus is the flagship Town Deal project in Mablethorpe and through this project we have a huge opportunity to create a national exemplar in medical technology and innovation in the area.
“The beginning of work on the ground is the culmination of partnership working to translate the ambition for the campus into reality, and I look forward to seeing the development progress over the coming year.”
Agreement paves way for development of Rolls-Royce nuclear reactors in Poland
Rolls-Royce SMR has signed a memorandum of intent with Polish industrial group Industria allowing the companies to collaborate on the deployment of small modular reactors in Poland.
Industria has selected Rolls-Royce SMR technology to fulfil the zero-emission energy goals of Poland’s Central Hydrogen Cluster, and as part of their plans to produce 50,000 tonnes of low-carbon hydrogen every year. Industria is part of the Group of Industrial Development Agency JSC.
Rolls-Royce SMR CEO Tom Samson said: “This is an important step in our relationship with Industria – setting out the basis on which we’ll work together to develop joint plans for using our SMR technology in Poland to decarbonise energy intensive industry and produce clean power for generations to come.
“Poland is one of the key international markets for our factory-built nuclear power plant which provides 470MW of clean, affordable electricity from a sustainable source. This partnership has enormous potential and could support thousands of high-skilled, long-term jobs in Poland and the UK – both directly and in the supply chain.”
Cezariusz Lesisz, President of the Board of Industrial Development Agency JSC (IDA), said: “Cooperation with Rolls-Royce SMR is a great opportunity for the ?wi?tokrzyskie region and IDA’s capital group companies in developing a high-tech industrial base for small scale nuclear power in Poland.
“Building new competencies of Polish industry is part of a trend of focusing on energy transition and strengthening our country’s energy security and resilience. The Industrial Development Agency wants to support projects to transform energy intensive industry, which will be able to benefit from both renewables and nuclear energy, which will be available in Poland in the next decade or faster.”
Poland and the wider region are seeking to decarbonise, while bolstering their energy security. Rolls-Royce SMR offers a factory built power solution that is perfectly sized to connect to the electricity grid or for off-grid industrial use such as hydrogen production.
Industria, which is wholly owned by the Polish Government as part of IDA Group, is leading an effort to develop a supply chain of parts and modules for SMR production. As a leader of Central Hydrogen Cluster, Industria is looking to deploy up to three SMRs to produce hydrogen and decarbonise regional energy infrastructure. There are additional future opportunities to replace more than 8GW of coal-fired power plants in southern Poland with SMRs throughout the 2030s.
Szczepan Ruman, CEO of Industria, said: “Rolls-Royce SMR is unmatched in terms of manufacturing concept and processes. Participation in a supply chain of parts and modules for Rolls-Royce SMR is a great opportunity for our region and for entire industry in southern Poland – which has built all the existing Polish power plants.
“We have a platform of cooperation for the industrial companies across southern Poland, which is our Central Hydrogen Cluster in which we cooperate with companies from our region as well as from three hydrogen valleys: Lower Silesia, Silesia-Lesser Poland and Subcarpathian. With the support of IDA Group, we aim to create jobs and secure Polish industry’s strong participation in the SMR industry of the future.
“Central Hydrogen Cluster and the hydrogen valleys’ aim is to secure clean energy sources for grid, industry and clean hydrogen production. Plans for deployment of Rolls-Royce SMR power plants in central and southern Poland will help meet these goals in the 2030s.”
Derbyshire industrial scheme takes shape
An industrial scheme in Ilkeston, Derbyshire, is beginning to take shape with the steel frame now erected.
Pent-up demand for quality industrial space is set to bring forward five new industrial units at the Stanton Forge development.
The speculative scheme, by local company D M Hartshorn Investments, follows the successful first phase on Littlewell Lane at the business park, which was completed in 2016.
Each of the five 1,383 sq ft units are available on new leases through commercial property specialists NG Chartered Surveyors.
Richard Sutton, Managing Director at NG, said: “It’s great to see this fantastic scheme progressing. These units are perfect for start-up businesses and with Junction 25 of the M1 only 10 minutes away, offer an ideal location and excellent connectivity to the motorway network.
“When we launched the first phase we had over 60 enquiries for the units and agreed disposal terms on all of them before they were completed.
“Pent-up demand for this calibre of small unit industrial space is high and NG is already taking deposits to secure the units.”
Lisa Hartshorn, director of D M Hartshorn Investments, added: “We have total faith in our scheme and the quality of build; Stanton Forge is the perfect location for ambitious local businesses.”
The units are set to be completed in June 2023. Each unit has three car parking spaces and is available on a new lease for a fixed term of 3 or 5 years.
Conference hears how public, private and education collaboration is set to address construction sector skills gaps in North Derbyshire
A powerful collaboration between Chesterfield’s public, private and education sectors – working alongside Chesterfield Borough Council – is set to roll out two initiatives which will address skills shortages within the construction sector.
The initiatives – Careers Made in Chesterfield and the Construction Skills Hub – were showcased at the annual Chesterfield and North Derbyshire Employability and Skills Conference, held on 8 February at The Winding Wheel Theatre.
Currently being piloted with Parkside Community School, the Careers Made in Chesterfield initiative aims to deliver careers support and guidance in schools and also forge links with businesses within the local construction and property sector. Already, the initiative is reporting increased interest in construction careers from the pupils who have been involved with the pilot.
Mr Riggott, Headteacher, Parkside Community School, said: “The Careers Made in Chesterfield pilot represented a step change in creating sustained connections between our Year 10 students and some great local companies. Our students loved it!
“This model is fantastic for a number of reasons. Perhaps most importantly, students build their knowledge of and relationships with employers across the programme, which in turn enhances their confidence and the likely outcomes of work experience following an extremely informed choice.
“I am a huge believer in the power of schools working closely with local companies in this way. As a school leader, I have seen first-hand the transformational potential of such partnerships, including through the hugely successful Avenue School Challenge in 2019 which led to apprenticeships for a number of our students following the programme. As a parent, this year I have also seen one of my sons begin a degree apprenticeship with the company with whom he completed work experience back in Year 10.”
Careers in Chesterfield has been supported by the Chesterfield Property and Construction Forum, which is led by Andy Dabbs, a Chartered Architect and Board Director at Whittam Cox Architects. Members of the Forum have delivered in-school talks, hands-on activities, and workshops to raise awareness of the sector and jobs and roles available within it to the entire Year 10 group at Parkside Community School.
Mr Dabbs said: “Collaboration between businesses and schools is crucial in addressing the skills shortage in the property and construction industry. The Property and Construction Forum’s involvement in the Careers Made in Chesterfield pilot is a prime example of the importance of creating pathways for young people to enter the sector. Without these efforts, the industry’s growth will be hindered, both regionally and nationally.”
Subject to funding, Chesterfield Borough Council will work with partners to roll out the Careers Made in Chesterfield initiative to more schools and sectors across the borough from September 2023.
Mr Riggott added: “Chesterfield schools, the College, other education providers and businesses have a real opportunity to work with Chesterfield Borough Council and sector forums on programmes like the Careers Made in Chesterfield project and to shape wider skills planning for an exciting future for our young people. We are very much looking forward to being part of that work.”
Both locally and regionally, the construction sector is suffering a skills shortage. In the East Midlands an extra 17,500 construction workers will be needed from 2023-2027, an annual requirement of 3,500 new workers every year.
Cllr Amanda Serjeant, Deputy Leader of Chesterfield Borough Council and Vice Chair of Destination Chesterfield, said: “We’re proud to support and strengthen partnerships between businesses, education, and the public sector, by bringing together these sectors we can help ensure that young people receive the training and support they need to develop great careers in Chesterfield. This is all about ensuring that our borough continues to thrive and that the quality of life for local people is improving.
“We’ll continue to proactively support initiatives like this conference and Careers Made in Chesterfield because they really do help ensure young people can have the best start to their careers and can then stay and progress in Chesterfield. Developing skills though is not just about helping young people and our new Construction Skills Hub will help people who want to retrain and access careers in construction.”
Further addressing the increasing construction skills shortage within Chesterfield, the Construction Skills Hub in Mastin Moor will welcome learners from autumn this year.
Funded through the Staveley Town Deal, the skills hub will provide a practical platform for construction training, careers activity and work experience on a live construction site.
Initially the Skills Hub will provide training in site and bench joinery, brickwork, ground works and electrical installation but in time the offer will expand to include training in retrofit and green technologies. It will be open to school leavers and other residents seeking to train or retrain.
The Hub will provide training, careers insights, and work experience for more than 5,000 learners over 10 years.
Chesterfield College with support from the University of Derby have been appointed to deliver the training. It will be delivered in collaboration with the Devonshire Group, which is bringing forward a new housing development in Mastin Moor.
Speaking at the conference Principal and CEO of the Chesterfield College Group Julie Richards said: “We firmly believe in providing the skills and experience necessary for a successful career to support the local economy we serve. We must work in collaboration with local employers and other stakeholders. As such, we’re delighted to be part of a variety of significant local projects such as partnering with Devonshire Group for the Construction Skills Hub servicing Staveley and surrounding areas.
“The unique initiative provides a huge variety of work-based training opportunities on one of the largest housing developments in local history delivering qualifications from Entry Level to Higher Education progression in partnership with the University of Derby.
“To provide a pipeline of highly skilled workers for years to come the hub has a firm focus on skills for the future and will deliver both traditional trade skills alongside cutting edge methods of construction including low carbon technologies.”
Heating technology giant to create hundreds of jobs with new Derby production site
Heating technology giant Vaillant has announced it is to open a production site in Derby creating hundreds of new jobs.
The firm, which has its UK headquarters at Belper, has taken a 12,000 square metre unit at St. Modwen Park Derby, a brand-new industrial scheme being built by St. Modwen Logistics.
Expected to open in 2024, the Derby site, which will create more than 200 jobs, will allow Vaillant to meet the increasing demand for heat pumps.
Henrik Hansen, Managing Director at Vaillant Group UK, said: “This new, custom-built site at St. Modwen Park will play an instrumental role in delivering the low carbon heating solutions needed to deliver a net zero future, while also creating valuable new jobs within the local community.”
Councillor Chris Poulter, leader of Derby City Council, said: “We’re thrilled that Vaillant has chosen to further invest in Derby. St. Modwen Park is an exciting development with the potential to bring huge investment and many jobs to the city.”
John Forkin, Managing Director of Marketing Derby, said: “We have been working with the team at Vaillant, together with our partners at the city council and St. Modwen, during the past year to secure this landmark investment.”
The investment at St. Modwen Park Derby follows hot on the heels of Vaillant opening a multi-million-pound heat pump production line at its Belper headquarters, making it the first UK manufacturer of both energy efficient boilers and heat pumps.
The official opening of that production line, which took place in November, was performed by Mr Forkin, along with Pauline Latham, MP for Mid-Derbyshire.
Reacting to Vaillant’s Derby investment, Mr Forkin said: “This is such an exciting time for the city and the continued investment from Vaillant into manufacturing sustainable heating systems will place Derby at the heart of the green jobs growth.
“Vaillant is a modern, forward-looking manufacturer with years of experience in Belper and will bring so much learning to the area.”
Ben Silcock, development and leasing manager at St. Modwen Logistics, said: “We are incredibly proud of our work at St. Modwen Park Derby, and we are really pleased to welcome a company as prestigious as Vaillant.
“It is fitting that Vaillant have chosen this sustainable warehouse to manufacture products which help people to reduce energy consumption levels and lessen their environmental impact.”
Hinckley National Rail Freight Interchange application submitted to Planning Inspectorate
Developers Tritax Symmetry have submitted their application for the Hinckley National Rail Freight Interchange (HNRFI) to the Planning Inspectorate.
Blaby District Council now has 14 days to comment on whether it believes the developer’s consultation on the plans was adequate.
The Planning Inspectorate will then have until 6 March to decide whether to accept the application. If the application is accepted, the Planning Inspectorate will begin assessing the developer’s plans.
There will be a six-month-long examination phase, including hearings, towards the end of the year, and a decision is expected by the middle of next year.
The scheme, earmarked for 440 acres of land between the M69 and the Leicester to Birmingham railway line, falls mainly within the boundary of Blaby District Council, south-west of Elmesthorpe village.
The scheme is of such scale and national importance that the application for its development will be ultimately decided by the Secretary of State for Transport.
Blaby District Council has no power to veto the project but is instead a statutory consultee in the process.
The Council will be carefully scrutinising the developer’s proposals, commenting on the scale, scope and location of the scheme and how it will affect local residents and the District as a whole.
Tritax Symmetry are already aware the Council has significant concerns about the impact the development will have on the District.
Councillor Terry Richardson, leader of Blaby District Council, said: “This application has been a long time coming and the source of great concern for many residents in our District. Since it was mooted, the Council has worked tirelessly to engage with the developer and critique their plans, for example raising strong concerns during the consultation period last year.
“There will be lots of information to review and comment on throughout this year. However, I can assure residents that the Council has dedicated significant resources to assessing these proposals and we will not shy away from making our views known in the strongest possible terms; starting with commenting on the adequacy of last year’s consultation process.”
The scheme is part of the Government’s long-standing plan to divert container transport traffic off major roads and onto the rail network for the bulk of its journey after arriving at major sea ports.
To provide for this the HNRFI will incorporate new rail sidings from the existing Leicester to Birmingham lines to accommodate up to 16 trains per day, of up to 775m in length which can link into warehousing and storage areas.
The warehousing and ancillary buildings themselves are expected to total up to 850,000m2 and reach up to 28m in height. There will also be a lorry park, energy services area and associated landscaping with new access routes, a major new link road from the M69 to the B4668/A47 Leicester Road at Hinckley and southern facing slip roads at Junction 2 of the M69.
Property lender provides £38m loan to refinance acquisition of two Midlands retail schemes
Specialist property lender Leumi UK has provided a £38 million loan to Magnetar Capital, a US-based alternative asset manager, to refinance the purchase of two town centre shopping schemes in Perry Barr, near Birmingham, and Corby, Northamptonshire.
One Stop Shopping in Perry Barr is a 382,856 square feet shopping centre and retail park, while Corby Town Centre & Willow Place measures 667,121 square feet across the town centre shopping area, retail park, upcoming new sixth form college, office space and residential units.
Both assets have a diverse mix of tenants, dominated by essential and convenience-led tenants and including major national occupiers such as M&S, Argos, Home Bargains, TK Maxx, Pure Gym, KFC, Nike and JD Sports.
Magnetar is working with specialist operating partner Northdale Asset Management, whose principals have significant experience across all classes of real estate, including retail. Magnetar and Northdale previously partnered on the 2022 purchase of Yate Retail Shopping Center in Gloucestershire.
Gez O’Sullivan, relationship director at Leumi UK, said: “It’s been great working with Magnetar again following our previous deal refinancing Yate Retail Shopping Centre in September 2022. Together with its operating partner, Northdale, Magnetar has been astute in selecting well-located retail centres with a robust tenant mix.
“The retail sector is facing a distinct set of challenges, which requires lenders take some caution, but the value-led and essential nature of these centres’ established tenants in this instance will prove a powerful hedge against macroeconomic headwinds.”
Aidan McKeown, portfolio manager at Magnetar, said: “Leumi UK has again demonstrated their customer-first approach and sectoral expertise throughout this transaction, and we’re excited to deepen our partnership with them on these two assets.
“Both centres have an attractive range of well-performing and resilient tenants serving the wider community. We look forward to exploring opportunities to further strengthen that and add value to the centres over the medium term.”
2022 sees strong revenue increase for Journeo
Revenue is up at Journeo, the Ashby-de-la-Zouch-based supplier of information systems, software and services to transport operators and local authorities.
According to a trading update for the year ended 31 December 2022, the business’s order intake increased by 50% to £27m, up from £18m in 2021, while revenue increased by 35% to £21.1m, up from £15.6m in the prior year.
Profit for the full year is anticipated to be in line with market expectations.
In January (2023), the company completed the acquisition of IGL Limited (including Infotec Limited) following the completion of a significantly over-subscribed placing and retail offer.Russ Singleton, Chief Executive of Journeo plc, said: “I am very pleased with our achievements in 2022 where the group’s order intake, revenues and profits all increased strongly based on growing adoption of our own technology, software and IP.
“We have made good progress in our sustainability strategy, including reducing the environmental impact of our technologies such as introducing ultra-low power designs in our next generation display systems. We look forward to providing more detail in our 2022 Annual Report.
“Following the acquisition of Infotec, the enlarged group is in a stronger position with a healthy order book and a growing sales pipeline of future opportunities for 2023 and beyond based on Journeo IP.
“We continue to evaluate other acquisition opportunities and this potential, together with the on-going successful investment in research and development and organic growth, gives the Board confidence in being able to deliver increasing value to our shareholders.”
