Revenues rise at Ibstock while profit declines

Tess Egginton
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Revenues rise at Ibstock while profit declines

Revenues are up and profits are down at Ibstock, the manufacturer of building products, according to results for the six months ended 30 June.

Group revenues increased by 9% to £193m, driven by significant volume growth in Clay, where revenue grew by 12% to £134m. Revenue in Concrete was also marginally ahead of the prior year at £60m (2024: £59m). Meanwhile, statutory profit before tax came in at £8m, dropping from £12m in the same period last year. The business noted that the first half “reflected a period of strong volume growth, with profitability…tempered by steps to activate core network capacity to meet recovering demand.”

Joe Hudson, CEO, said: “The new-build residential market showed encouraging signs of recovery in the first half of the year, but activity is still well below normalised levels. As we plan for a period of further market growth, we have invested in restoring core capacity to meet demand. Whilst this has impacted margins in the first half, it will ensure we are able to benefit fully from the recovery as the market progresses.

“With both our core and diversified platforms now substantially in place to meet growing demand, I am confident in our ability to deliver on our medium-term revenue goals alongside improvements in profitability and returns driven by margin focus and significant operational leverage through the recovery cycle.”

Vistry Group expands Northants community with 233 new homes

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Vistry Group expands Northants community with 233 new homes
Vistry Group has exchanged contracts to expand its Western Gate community in Harpole, near Northampton. The addition of 233 new homes brings the total build to 1,070 of the planned 1,900 properties at Norwood Farm. The 233 additional homes will be built across a mix of tenures, with 83 affordable homes, 80 PRS properties, and 70 open market homes. This announcement follows West Northamptonshire Council’s approval of reserved matters for phase two of the development, allowing Vistry to start building 278 family homes. On this portion of the development 139 homes will be available on the open market and with 139 will be affordable properties through Vistry’s partnership with Platform Housing Group. In addition, Vistry has secured its first contract with Zen Housing, an affordable home provider, who will own and manage 18 affordable properties. Andrew Harvey, managing director of Vistry South Central Midlands, said: “I am thrilled to announce the completion of contracts for an additional 233 mixed-tenure homes at Western Gate and our first contact with Zen housing. “This brings the total to 1,070 of the 1,900 new properties planned at Norwood Farm. Our commitment goes beyond house building, with £9 million allocated to bolstering services for both new current residents.” John Okell, investment director at Zen Housing, said: “The contract for the additional homes coincides with receiving reserved matter to start work on a further 278 properties for the affordable and open markets. “This clearly shows Vistry’s dedication to meeting housing needs by building homes across multiple tenures to an exceptional standard, creating a thriving and sustainable community. “We are delighted to mark the start of our partnership with Vistry Group on this phase of homes at Western Gate. These 18 high-quality affordable homes reflect our commitment to delivering sustainable, well-connected communities. “Executing the deal in just five weeks ahead of completions in August highlights the strength of collaboration between our teams. We look forward to supporting the wider Norwood Farm vision through tenure-diverse, community-focused delivery.” Phase one of this scheme to build an initial 439 properties is well under way.

Chesterfield business secures £2.3 million facility to boost international exports

April Lara
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Chesterfield business secures £2.3 million facility to boost international exports

Superior Wellness, a leading manufacturer of hot tubs and swim spas, has secured a £2.3 million funding package backed by UK Export Finance (UKEF) and NatWest Bank. This financial support will enable the company to expand its export activities in key international markets including the USA, Canada, Europe, and the Middle East.

The General Export Facility (GEF) will assist Superior Wellness in scaling its distribution network and supporting its working capital needs, ensuring continued growth while securing cash flow. The investment comes as the company continues its rapid expansion, particularly in North America, where it has increased its market share and opened a new warehouse in South Carolina.

As part of its growth, Superior Wellness has created 15 new positions at its Chesterfield headquarters and five new roles at its South Carolina site, bringing its global workforce to over 140 employees. The company’s portfolio includes brands such as Platinum Spas, AquaSolus, HEKLA saunas, and Chill Tubs ice baths.

UKEF’s support aims to help UK businesses grow internationally, with a focus on sustainable export growth and job creation both at home and abroad. The funding aligns with the government’s efforts to stimulate regional growth through export-driven initiatives.

Leicester College to construct new facilities for next generation of electricians

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Leicester College to construct new facilities for next generation of electricians
Leicester College is constructing a new Electrotechnical Workshop and Test and Inspection Lab at its Freemen’s Park Campus in the city. The new facility will provide T Level, Technical Level 2, and evening Level 2 and 3 programme learners with greater exposure to a broader range of industry-standard materials, tools and equipment, significantly enhancing their knowledge, skills and behaviours in preparation for employment. The building of the new facility, refurbishing an existing sports hall, is scheduled to be fully operational by September 2025. Nick Allen, programme area manager at Leicester College, said: “It’s widely accepted that the UK electrical industry is experiencing an increase in demand for skilled electricians but faces a significant skills shortage. “By establishing this new facility, Leicester College is providing access for learners to state-of-the-art electrical equipment that will boost their expertise and, consequently, their employment opportunities.” Darren Roome, director of curriculum – construction at Leicester College, said: “The new Electrotechnical facility will provide the next generation of students with access to excellent teaching, learning and assessment opportunities. “Equipped with a purpose-built workshop and the latest test and inspection technologies, the experienced teaching team will be well-positioned to deliver an enriched educational experience. It’s an exciting development for both staff and students.” The new labs will be equipped with modern training and assessment rigs supplied by Test Rigs UK Ltd. Phillip Hague, company director at Test Rigs UK, added: “Test Rigs UK Ltd are so privileged to work in partnership with Leicester College to produce and supply these products. “The training and assessment rigs will allow the next generation of learners to practise and train in a safe, simulated environment allowing realistic testing and fault-finding practices to be learned and hopefully taking those skills with them into their future work as electricians in the industry. “Test Rigs UK Ltd was set up for this very reason and to be a major player in this industry, and to be recognised by such an establishment like Leicester College is an honour. We look forward to seeing the learners in action on these rigs.”

Midlands mid-market private equity interest holds firm in first half of 2025

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Midlands mid-market private equity interest holds firm in first half of 2025
Mid-market private equity investment in the Midlands held firm in the first half of this year, according to KPMG UK’s mid-year private equity pulse. The mid-year study into private equity deal activity found that mid-market private equity interest in the region maintained at H1 2024 levels, with 41 deals completed. The findings come despite a backdrop of economic uncertainty, influenced by ongoing geopolitical developments and concerns surrounding the potential impact of trade tariffs. Bolt-ons remained the largest component of mid-market private equity activity across the region, making up more than half of all deals. Traditional and leveraged buyouts (LBOs) were the second largest deal type, followed by minority investments. The Midlands’ mid-market private equity interest accounted for 11% of the total mid-market private equity backing in the UK. Deal activity in the mid-market slowed down across all regions in the UK, except the South West, which experienced increased activity in terms of deal volume, compared with the first half of 2024 (28 vs 22). Stuart Sewell, head of M&A for the Midlands at KPMG UK, said: “While deal volumes remained flat in the first half of 2025, the picture is still positive in the context of a nationwide drop. “The resilience of Midlands businesses is clear, and these results show a promising sign that capital is available for regional businesses demonstrating strong management and innovation. In times of relative uncertainty, it’s no surprise that bolt-ons are prominent as investors look to back management teams that are already delivering and sectors they know. “The Midlands remains home to high-growth businesses that are still pursuing expansion, despite ongoing economic headwinds. Firms can therefore press ahead with cautious optimism, pushing for growth in the second half of the year.”

Hybrid working solutions vary by business need, says Chamber

April Lara
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Hybrid working solutions vary by business need, says Chamber

The demand for on-site work is rising, according to a recent report by the British Chambers of Commerce, with four out of ten businesses increasing their expectations for employees to return to the office. However, the East Midlands Chamber has highlighted that the future of hybrid working is not a one-size-fits-all solution, as it largely depends on the unique needs of each business.

The report reveals that 40% of businesses have increased their requirements for employees to work on-site over the past year. Additionally, 10% of businesses have seen staff resign due to the push for employees to return to the office. Meanwhile, 60% of manufacturers expect all work to be in-person within the next 12 months, while almost half of businesses anticipate a fully on-site model in the coming months.

The East Midlands Chamber emphasises that flexibility in working arrangements is crucial. Some businesses, particularly those in frontline or customer-facing roles, require employees to be on-site, while others benefit from a hybrid model that accommodates diverse working styles. Technological advancements have made it easier for businesses to manage remote tasks efficiently, offering more flexibility in structuring work.

For employers, the key challenge is balancing the need for remote and in-office work to attract and retain talent. Employees with family commitments or those who need a quieter environment for focus have found remote work appealing, while others thrive in the office, where collaboration and networking are more prevalent. As recruitment remains a challenge in the East Midlands, businesses will need to continue evaluating their hybrid work policies to ensure they meet both employee needs and business goals.

Clowes Developments named a Trust Partner of Derby County Community Trust

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Clowes Developments named a Trust Partner of Derby County Community Trust
Clowes Developments has become a Trust Partner of Derby County Community Trust, supporting its mission to deliver impactful programmes that improve lives and strengthen communities across Derbyshire. The partnership reinforces Clowes Developments’ long-standing commitment to investing in the local community and promoting positive social change. As a sponsor, Clowes will support a wide range of initiatives run by the Trust, which span health and wellbeing, education, inclusion, and sports participation. Thomas Clowes, managing director at Clowes Developments, said: “We are delighted to partner with Derby County Community Trust, an organisation whose values and impact align closely with our own. “Supporting the communities we operate in has always been important to us, and this partnership gives us the opportunity to make a real difference alongside a team that is already doing exceptional work across the region.” Derby County Community Trust deliver programmes that engage thousands of participants each year. The Trust’s initiatives include mental health support, disability sport, education and resources to help young people access training and employment opportunities. Chris Tomlinson, head of business development at Derby County Community Trust, added: “We’re thrilled to welcome Clowes Developments on board as a Trust Partner. For the last few years Clowes have supported the Trust as headline sponsor of the Black & White Fundraising Ball. “Individuals from the Group have backed volunteering projects including The Community Meals Programme and Rams In Kenya. Their continued support will play a valuable role in helping us continue to reach and support people across Derbyshire, and we look forward to working together over the coming year.” This partnership adds to Clowes’ wider Environmental Social Governance (ESG) strategy, which includes sponsorships, charitable giving, and long-term support for regional development and volunteering.

Walkers factories face restructuring plans, job uncertainty looms

April Lara
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Walkers factories face restructuring plans, job uncertainty looms

PepsiCo has announced plans to restructure its operations at Walkers’ key manufacturing sites, sparking concerns over potential job losses. The company is consulting on changes at its Leicester, Coventry, Lincoln, and Skelmersdale facilities, but the number of jobs affected remains unclear.

PepsiCo confirmed that no decisions would be made without consulting employees and their representatives. The company emphasized that the restructuring aimed to align its UK operations with the structure of other international sites, improving operational efficiency and technical capabilities.

The changes come after a series of recent investments in Walkers’ facilities, including £24m in Lincoln, £58m in Leicester, and £13m in Coventry, to enhance production capacity and meet growing consumer demand. These investments underscore PepsiCo’s ongoing commitment to its UK operations, despite the proposed changes to its workforce.

Unite, the union representing workers, has vowed to protect jobs during the consultation process, with plans to negotiate against compulsory redundancies and secure fair severance packages. The union’s involvement signals the significant impact these restructuring efforts could have on the workforce across the affected sites.

A PepsiCo UK spokesperson said: “We recently told our teams that we will be consulting on proposed changes to our operational structure, affecting a proportion of employees at our snacks manufacturing sites in the UK. No decisions will be made without first consulting affected employees and their representatives. Our priority is providing support for our people throughout this process. “The changes being proposed are intended to bring our UK sites in line with a different operating structure we have had success with at some of our other international sites, leading to better ways of working and increased technical capabilities.”

Pub company swoops for popular Leicestershire site

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Pub company swoops for popular Leicestershire site
The Shires Inn in the village of Peatling Parva has been sold to a growing pub company. Located between Leicester, Lutterworth and Market Harborough, The Shires Inn is a large, family-friendly pub, well-known locally for its carvery, curry nights, and fresh British food. The pub is a popular choice for residents in the surrounding villages as well as visitors to the Leicestershire countryside. Having been in the hospitality industry for many years, and at the helm of the pub for over 30 years, the pub’s joint owners now wish to start new ventures of their own and hand the reins over to a new owner. Following a sales process with Jonty Green at Christie & Co, The Shires Inn has been sold to Roseacre Pub Company, which already runs ten pubs across the Midlands. They plan to continue the success of The Shires whilst introducing a new food menu and enhancing the décor throughout the pub. Ash Gartshore of Roseacre Pub Company said: “As a regular customer of The Shires for over 20 years, I’ve watched it trade successfully throughout that time. We already operate four other pubs in the area, so when the opportunity arose to acquire The Shires, I immediately knew it would be the perfect addition to the Roseacre Collection. “We are currently investing around £500,000 into a full-scale renovation of the site. This includes fully updated toilets, a brand-new restaurant space, two carvery decks, and a premium resin patio area with a fire pit, all of which will give The Shires a fresh new look while retaining its much-loved character.” Former owners Phillippa and Andy said: “After nearly 30 wonderful years at The Shires Inn, the time has come for us to close this chapter. We have loved every second of our time here, and over the years we’ve been truly blessed with the most loyal customers. “To our incredible staff, past and present, thank you from the bottom of our hearts. You have been more than colleagues, you all became family. Your hard work, humour, loyalty and hearts are what made The Shires more than just a workplace. “As we closed the door for the final time, it felt peaceful and right. We are excited to see what the next chapter holds, not only for The Shires, but also for ourselves, as we head off down different paths and journeys. We wish Ashley, Michael and our old Team Shires family all the best for their future and could not have wished for a better team than them to carry on our legacy.” Jonty Green, business agent at Christie & Co, added: “The Shires is a landmark pub in the local area, and the interest that its sale generated has been significant, with many publicans interested. “The Shires is an excellent example of how a dry-led pub can be successful and achieve fantastic results. We look forward to seeing it continue to thrive under the stewardship of Roseacre Pub Company.” The pub was marketed with an asking price of £1,500,000 and sold at an undisclosed price.

Stepnell appoints strategic director

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Stepnell appoints strategic director
Stepnell has appointed Mike Smedley as strategic director as it commits to expanding the group’s specialist construction services. Operating across all of Stepnell’s geography, Mike brings more than three decades of experience with major national contractors. He has a proven track record in building high-performing teams and business units, having most recently served as managing director at Brymor Group Southern. His career also includes senior roles at Geoffrey Osborne, Kier, and VolkerFitzpatrick. A chartered quantity surveyor (MRICS) and Fellow of the Chartered Institute of Building (FCIOB), Mike will apply his expertise in business planning, risk management, tendering, and operational leadership to support the development of Stepnell’s specialist divisions into independent business lines. These include Step Energy, Lawford Bespoke Joinery, plant and fleet services, concrete repairs, and a new CCTV offering currently in development. Mike said: “This is an exciting opportunity to drive the growth of Stepnell’s wider business portfolio. Working closely with the senior leaders of each division, my aim is to help shape these services into self-sufficient, stand-alone units with strong management structures – capable of delivering outstanding service and commercial performance nationwide, in line with Stepnell’s complete construction approach.” Tom Wakeford, managing director at Stepnell, added: “Mike’s leadership and depth of experience in building regional and national teams will be a huge enabler as we expand our project capabilities and become even more responsive to our customers’ needs for specialist services. “His proven ability to develop and grow business units aligns perfectly with our ambition to create resilient, service-led operations across the business – rooted in strong leadership and mentoring, innovation, and collaboration.”
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