New Pro-Chancellor and Chair of the Board of Governors at NTU
Nottingham Trent University (NTU) has appointed Caroline Wayman as Pro-Chancellor and Chair of the NTU Board of Governors.
Caroline will be succeeding the current Chair, Neil Goulden, when he concludes his term in office in October 2023.
Caroline is a current member of the Board of Governors and works as a partner in Financial Services at PA Consulting. Formerly the Chief Ombudsman and Chief Executive of the Financial Ombudsman Service, Caroline was also a member of the Board and Chair of the Nominations and Governance Committee of the Crown Prosecution Service. She was the Senior Independent Director there until June 2022, having joined the board in June 2018.
Neil Goulden, Chair of the NTU Board of Governors and Pro-Chancellor said: “We are delighted to welcome Caroline as the new Pro-Chancellor and Chair of the Board of Governors. Caroline has been doing fantastic work since she joined us as a Board member in 2020 and NTU will really benefit from her leadership and experience in this role. I wish Caroline the best of luck with this new position.”
Caroline Wayman commented: “I am delighted to be appointed to this role and look forward to helping the University to go from strength to strength. I would like to thank Neil Goulden for his fantastic support and look forward to working closely with him over the next year.”
The Board of Governors oversees all of the University’s activities and has legal and constitutional responsibility for the conduct of NTU’s affairs.
Private sector slows at fastest rate since early 2021
Private sector activity fell in the three months to September (balance of -19%, from -5% in August), according to the CBI’s latest Growth Indicator, and businesses expect the decline to accelerate over the next quarter.
The fall over the past quarter was the fastest since February 2021 with activity declining across all sectors. Business volumes in both business & professional services (-14% from -1%) and consumer services (-57% from -37%) fell at a faster rate than in the quarter to August.
Meanwhile, distribution sales fell after having grown slightly in the quarter to August (-13% from 7%), and manufacturing output fell at a similar pace as last month (-4% from -7%).
Looking ahead to the next three months, private sector activity as a whole is expected to decline at an even quicker pace (-30% from -19%). Prospects have deteriorated across all sectors: services activity (-30% from -25%), manufacturing output (-17% from -4%), and distribution volumes (-44% from -13%) are all expected to decline at a faster rate in the next three months.
Alpesh Paleja, CBI lead economist, said: “Across the private sector, firms have had to contend with significant uncertainty surrounding energy costs as well as ongoing supply chain challenges and weaker consumer demand.
“While there are fears that economic activity may fall even quicker still next quarter, the Government has only [last] week made some significant moves to shield all businesses from high energy costs, while also setting out its plans to kickstart economic growth.
“These bold plays will help in building up fragile business confidence and get firms on the front foot once more.”
Form new connections at the East Midlands Expo
On Monday 14 November 2022 businesses will flock to the East Midlands Conference Centre, Nottingham for the East Midlands Expo.
An established event of over 20 years, the free to attend expo is a prime networking opportunity aimed at the construction, property, business, investment, finance, professional services and related B2B markets.
The day, for which Business Link is a proud partner, will begin with exhibitor breakfast networking, with the exhibition opening to attendees at 9am. A seminar will take place between 10:45am and noon with BSP Consulting’s directors Mark Rayers and Tony Goddard lined up to present ‘Sustainability and how engineering plays its part’.
A special networking lunch (for which tickets can be purchased here) will then take place between 12:15pm and 2:15pm, and the exhibition will close at 3:30pm.
For more information on exhibiting at the event click here.
To register to attend the event for free click here.
To secure tickets for the networking lunch click here.
From property agents to developers, architects, contractors, investors, PR firms, and more, see the list of current exhibitors here.Half-year sales and profits rise at Next
Sales and pre-tax profits have risen at Next, according to the retailer’s half-year results for the 26 weeks ended 30 July 2022.
The business has reported a “good first half, with overall sales ahead of expectations.” Next says this was driven by the over-performance of its retail stores and a strong performance from the formal parts of its clothing ranges.
Full price sales were up 12.4% versus 2021 and 22.3% against 2019. The company meanwhile posted a profit before tax of £401m, up 16% on 2021 and 22% against 2019.
Following the half year results however, August trading was below the group’s expectations, although sales in September have improved. As a result Next has decided to reduce its forecast for full price sales in the second half from +1% to -1.5% versus last year.
Furthermore, profit guidance for the full year has been reduced from £860m to £840m, which would be a rise of +2.1% on last year.
Charlie Huggins, head of equities at Wealth Club, said: “Next is seen as a bellwether of the UK High Street and today’s cut to full year guidance lays bare the challenges being faced. Asos and Boohoo’s trading performance has been nothing short of dire. Even Primark’s recent trading update called out significant margin pressures. In this context, Next’s half year results are more resilient than most.
“The fact that many retailers are struggling shouldn’t be a surprise. This is arguably the most difficult trading environment since the 2008/09 financial crisis. Inflation is at levels not seen for four decades. Sterling is in the doldrums, trading at its weakest level against the dollar since 1985. Add to this, the war in Ukraine and the spectre of further interest rate rises. It’s not exactly conducive to consumers restocking their wardrobes.
“Perhaps the biggest issue for the whole sector is that while things look challenging right now, they look set to become even more so. This is due to the precipitous decline in sterling which will only exacerbate inflationary pressures.
“Next looks better positioned than most of its peers to weather the storm, and emerge stronger in light of its high margins, robust cash flows and strong balance sheet. But 2023 could be a very difficult year the way things are shaping up.”
Nottingham Building Society to close 17 branches
The Nottingham Building Society says it will close a third of its branches due, it says, to “changing consumer behaviour”.
A total of 17 branches across East Midlands, including Lincolnshire will close by the end of this year .
In a statement, the Nottingham Building Society explain: “Following a detailed review of our branch network we can see the way members are using our branches has changed. People are visiting us less and less each year, reducing the number of times they visit, and using alternative ways to manage their money – over the telephone and online.
“In some of our locations there are days where we have very few members transacting in our branches. In others, less than 30% of members have transacted in the branch in the last 12 months. We also have decreasing customer numbers and savings balances in some branches. Whilst we know it doesn’t suit everyone there is a continuing trend towards having the ability to transact digitally and we’ve seen this trend continue post the pandemic.
“We have a responsibility to our members to make sure we have an efficient branch network and that we operate in locations where members need and use them the most. We’ve been very thoughtful, and done a significant amount of analysis, to understand the impact branch closures will have. We have looked at the distance to an alternative Nottingham branch, whether there are other financial service providers on the high street or whether we are the last remaining branch. We’ve also considered the impact on colleague morale of working in branches where they have little to no interaction with members. “
Belmayne invites public to talk about finances
Dronfield-based financial planners, Belmayne, are offering free initial consultations with their experienced advisers to mark UK Financial Planning Week.
Local residents are invited to book face to face, online or telephone appointments during the week commencing October 3 to learn more about the importance of investing in their future.
The independent firm is supporting the national initiative to dispel myths around financial planning and encourage conversations about money. It will also be publishing a series of daily blogs, tackling common issues affecting consumer decisions about pensions and investments.
Run by the not-for-profit Chartered Institute for Securities and Investments (CISI), Financial Planning Week aims to help consumers build confidence, combat stress and anxiety and deal with the challenges that surround financial decisions.
Belmayne partner, Martin Birch, said: “When household finances are stretched to breaking point, many of us put retirement plans on the backburner. However, laying the foundations early is the only way to reach your life goals. We want to encourage consumers to learn as much as they can about the benefits of financial planning and consider their particular circumstances in more detail. Meeting with an independent planner is the best way to start a conversation about the future and the results could be life-changing.”
Sally Plant, CISI assistant director, financial planning and education development, added: “It has never been more important to get the message out – that financial literacy is an important tool for life, and financial planning is an essential part of wellbeing and mental fitness. Financial Planning Week helps raise awareness about the role of qualified financial planners in helping people from all walks of life, and all ages – and importantly, not just the wealthy – to think ahead and plan for the future.”
East Midlands manufacturer secures £1.5m furniture and fitout contracts in Scotland
Mansfield-based Deanestor, one of the UK’s leading furniture and fitout specialists, has been awarded its second contract this year for North Lanarkshire Council, taking the value of these orders to £1.5m.
The latest project is to provide furniture and fitout services for a £20m community hub in Chryston which is being delivered by hub South West Scotland and their construction partner, Robertson Group.
Deanestor will manufacture, procure and install over 5,200 items of furniture and equipment for Chryston Community Hub, including shelving, seating, storage cabinets, worktops, tables, and teaching aids. Designed by Ryder Architecture, this is a shared campus development for primary education and community health provision in a single building.
The building will have spaces for up to 509 primary pupils to meet the rising demand for school places in the area. Due for completion in autumn 2023, the hub will also incorporate a community health clinic to support the provision of health services.
William Tonkinson, Deanestor Managing Director, said, “We are absolutely delighted to have been awarded this second project for North Lanarkshire Council. Both schemes are very innovative, using a shared campus approach to deliver state-of-the-art facilities to the benefit of the local communities.”
“Chryston Community Hub is a really unique scheme and a flagship development for shared community facilities. Deanestor has extensive, specialist experience in the delivery of furniture and fitout services for both education and healthcare projects, which will add value to this latest contract.”
Deanestor’s project for a second community hub and learning centre for North Lanarkshire Council is now underway. Here, Deanestor is working with hub South West Scotland’s construction partner, BAM Construct UK, to provide around 4,400 items of bespoke school furniture and equipment for a £20m shared learning campus in Wishaw. This will accommodate 500 pupils from Newmains and St Brigid’s Primary Schools, and a 100-place early years centre.
Deanestor will fit out more than 100 rooms in seven zones. Designed by BDP and scheduled to open around the end of 2022, this development will create a stimulating learning centre for denominational and non-denominational primary and early years education.
Deanestor provides high quality furniture and fitout solutions to construction clients and contractors for healthcare, education, student accommodation, build-to-rent and laboratory projects – both new build and refurbishment. It offers bespoke design services to meet specific project requirements and is responsible for installation to provide a seamless approach for its customers and a single point of contact.
Leicester City Council to boost Waterside development with £4.9m funding
Leicester City Council intends to provide £4.9million of funding to emh Group towards the construction of 55 new affordable rent homes in the Waterside area.
Emh Group – one of the largest providers of affordable homes in the East Midlands – has confirmed that the council will be able to nominate people from its housing waiting list for the new homes. The new homes – which will be a mix of one and two-bedroom flats – will be part of the council’s response to the need for affordable housing supported living schemes that support adults who are in receipt of social care.
The 55 flats would be part of a larger proposed 75-unit supported housing scheme that emh Group plans to develop.
The council’s proposed contribution will be from receipts from the sale of council properties under the Government’s Right to Buy scheme.
Cllr Elly Cutkelvin, assistant city mayor four housing said: “By providing Right to Buy funding to emh Group in this way, we can help ensure that dozens of new homes – including much-needed wheelchair accessible properties – are available at affordable rent to some of the most vulnerable people in the city.
“There is no doubt that the Right to Buy scheme has hit the supply of council housing hard. We’re losing homes much faster that they are being built and it’s time the Right to Buy scheme was abandoned. In the meantime, it is essential that we invest whatever proceeds back into addressing our local and critical need for more affordable homes.”
Whenever a council property is sold under Right to Buy, the proceeds of the sale must be used in line with strict Government guidelines. This means that only some of the proceeds can be used to support the costs of building new affordable homes for rent. It also means that this money can only be used to cover up to 40 per cent of construction costs.
Emh Group’s proposed scheme will be part of the delivery of over 360 new homes currently under construction by Keepmoat, the city council’s development partner for the first phase of the Waterside regeneration project.
Chris Jones, Executive Director – Development at emh said “We are proud to partner with Leicester City Council and look forward to making a key contribution towards the regeneration of Waterside.
“We are committed to building high quality, affordable homes that meet the needs of local people as well as provide a boost to local the area.”
A formal decision on the proposed use of £4.9million of Right to Buy receipts to help address the need for more affordable housing is due to be taken on Thursday 6 October 2022.
Nottingham achieves a 57% reduction in carbon emissions
Nottingham has reduced its carbon dioxide (CO2) emissions by 57.7% per person in the last 15 years the latest review of the city’s Carbon Neutral Action Plan shows. This is the highest reduction for any core city in the country. The City Council and partner organisations across Nottingham have been delivering the plan for two years in order to tackle climate change. Positive results are being achieved and this is reflected in the city’s overall CO2 emissions levels.
The Carbon Neutral Action Plan covers a range of themes that impact CO2 emissions in Nottingham that aim to:
- Reduce CO2 emissions across six key areas: transport, energy generation, the built environment (buildings), water, waste and consumption (what we buy and use)
- Remove CO2 from the atmosphere
- Protect and enhance nature
- Protect the city from extreme weather events
- Nottingham is considered one of the top 100 cities in the world for climate action
- Progress has been made to decarbonise vehicles in the city, with over 50% of the council’s fleet running on electric battery power while 30% of the city’s buses are either electric or run on biogas
- Work has begun on an innovative wireless taxi pilot project, which is a first for the UK
- To date, over 13,000 energy efficiency improvements have been made to social and privately owned homes through the Greener HousiNG schemes
- 9,000 new trees were planted in 2021-22 which , lower the temperature of the city, and make Nottingham greener
- Properties across Nottingham have been made more resilient to the impacts of climate changethrough flood management schemes
- Thousands of kilos of food waste avoided through redistribution project with FareShare Midlands.
AW Repair Group sold to Steer Automotive Group in multi-million-pound deal
Azets, the regional accountancy and business advisor to SMEs, has advised on a multi-million-pound sale of specialist accident repair centres, AW Repair Group, to Chiltern Capital-backed Steer Automotive Group.
Founded in 1996 by Andrew Walsh, AW Repair Group Limited operates a group of specialist accident repair centres. From its 12 operational sites spread across South Yorkshire and the East Midlands, the business delivers a mix of vehicle accident repair services to its established and growing base of customers in the insurance and manufacturer sector.
With over 30 years of experience within the body shop industry, Steer Automotive Group is now the new owner of AW Repair Group.
Exiting founder and CEO of AW Repair Group, Andrew Walsh, said: “I started the business at the age of 24 and to negotiate its sale was, at times, emotive, frustrating and also exciting.
“Thanks to the guidance from the Azets’ team, namely Martin Poole, Tom Eastwood and Doug Allan, who were always calm, diligent and consistent in their approach and any alternative proposals were always explored. They had a really good understanding of all the intricacies, and worked in partnership with our legal advisors.
“We wish the team at Steer Automotive Group all the best and look forward to following their journey.”
Martin Poole, partner at Azets, added: “It was a pleasure working with Andrew and Emma, long-standing clients of the firm. Through their hard work, they have grown a business from scratch into one that is at the forefront of the industry. Their commitment and determination through the transaction process has been second to none and they thoroughly deserve the value that they have achieved for all of their efforts.
“I have no doubt that the legacy and dedication shown by AW Repair Group’s founder and CEO Andrew and finance and legal director Emma will enable the business to flourish under new ownership.”
Azets provided corporate finance, audit and tax advisory services to the shareholders of AW Repair Group Limited.
