Private equity firm invests into Hull occupational health service provider
West Yorkshire leaders approve over £40 million for roads and homes
- £1.6 million to help build 63 new homes in Wakefield’s Civic Quarter.
- £2.2 million for a range of improvements at bus stations across West Yorkshire.
- £13.8 million to improve traffic capacity in Kirklees.
- £7.7 million to support cycling corridors across Leeds City Centre.
Move to Gainsborough puts Polish food firm in prime spot for network expansion
Manufacturing output expectations strongest since 2022
- Output volumes were broadly unchanged in the quarter to July (weighted balance of -3%, from +3% in the three months to June). Firms expect volumes to grow in the next three months (+25%), the strongest expectations since March 2022.
- Output rose in 6 out of 17 sub-sectors, with growth in the motor vehicles & transport equipment, chemicals, mechanical engineering and electrical goods sub-sectors offsetting declines in furniture & upholstery and metal manufacturing sub-sectors.
- Total new orders fell in July, at a similar pace to the previous quarter (balance of -9% from -6% in April). Domestic orders fell through the quarter (-15% from -6%), while the volume of new export orders was broadly unchanged (+3% from -14%). Manufacturers expect total new orders to be essentially unchanged over the next three months.
- Business sentiment fell in July, after rising in April for the first time in nearly three years (balance of -9% from +9% in April). Export optimism for the year was flat after rising last quarter (0% from +6%).
- Investment intentions for the year ahead generally strengthened compared with April. Manufacturers expect to raise investment in product & process innovation (a balance of +18% was the strongest since January 2022, up from +15% in April), in training & retraining (+7%, from +1%), and in plant & machinery (+6%, from +2%). Investment in buildings is set to fall (-11%, from -3%).
- The main constraint on investment was uncertainty about demand (cited by 44% of manufacturers), followed by inadequate net return (35%), a shortage of labour (20%), and a shortage of internal finance (19%). Concerns around the cost of finance have retreated from a 33-year high set in January (excluding the pandemic period) but remain double the long run average (10%).
- Average costs rose rapidly in the quarter to July (balance of +52%, from +39% in April; long-run average of +18%). Costs growth is expected to remain elevated in the quarter to October (+36%).
- Average domestic prices increased over the three months to July (balance of +15%, from +10% in April). Export price inflation also accelerated from April (+22% from +9%, and the fastest pace in over a year). Both domestic and export price growth are expected to slow in the next three months (+2% and +6%, respectively).
- Stocks of work in progress (balance of +4%) rose marginally in the quarter to July, while stocks of finished goods (+2%) and of raw materials (-1%) were broadly stable.
- Manufacturers expect stocks of work in progress (+13%) to rise at the fastest pace in over two years during the next three months, with stocks of raw materials (+7%) and of finished goods (+5%) also set to increase.
- Numbers employed were unchanged in the quarter to July, after falling in April (balance of 0% from -6%). Firms expect numbers employed to rise modestly in the next three months (+16%).
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Business behind UKREiiF acquired
Infopro Digital, a French business information services company, has acquired Built Environment Networking Ltd, which runs UKREiiF, the event for the real estate, property and infrastructure communities held in Leeds.
This acquisition will strengthen Infopro Digital’s position as an international B2B trade show and event provider in the construction and public sector vertical. In France, Infopro Digital already runs SIMI, a trade show that attracts 26,000 attendees and has strong similarities to UKREiiF.
UKREiiF enhances Infopro Digital’s presence in the UK, where it runs brands such as Risk.net (Risk management), Haynes (Automotive) and Barbour ABI (Construction) and operates five offices with more than 450 staff.
“UKREiiF has become a leading brand in the real estate, property and infrastructure sector, resembling the success we have achieved with SIMI in France. We are excited to partner with the management team and help UKREiiF with its expansion goals,” said Julien Elmaleh, Group CEO with Infopro Digital.
“UKREiiF has become a key event for the real estate, property and infrastructure communities in a short time. We admired how it achieved this by offering relevant content, high-quality networking and a great delegate experience. We also recognise the huge efforts it made to support equality, diversity and inclusion,” said Christophe Czajka, Founder and Executive Chairman of Infopro Digital.
“Infopro Digital is the ideal partner to continue the development of our event, ensuring that the values and quality of UKREiiF are preserved. I am confident that under their stewardship, UKREiiF will reach new heights and continue to serve our community with excellence,” said Keith Griffiths, Founder of Built Environment Networking Ltd.
Huddersfield business gets £20m funding package from HSBC
Huddersfield-based global brand consultancy Principle Global is gearing up for international expansion after securing an eight-figure funding package from HSBC UK.
Principle Global will use the £20 million HSBC UK funding package as a platform for growth into new and existing international markets, targeting the UK, US, Europe & MENA regions. As a result, the company is expecting to strengthen the Management Team for the next generation of growth across multiple offices and generate double digit turnover growth over the next 12 months.
Company Chairman Richard Butterfield said: “As we are dedicated to enhance our offering globally, we knew we had to find a banking partner that bolstered our vision in becoming a world leading brand strategy, experience, design and implementation organisation.“With the support of HSBC UK, we can strengthen our business model in the UK while expanding our teams internationally and collaborating with an even more diverse array of companies in new markets. The next twelve months promise to be incredibly exciting for Principle Global as we embark on this journey of growth.”
Mike Edwards, Relationship Director at HSBC UK, added: “HSBC UK is committed to offering support that empowers businesses to create new jobs, secure new business and reach ambitious international expansion plans. We are excited to be part of Principle Global’s journey and to help them unlock new opportunities across international markets.”
Founded in 1987, Principle Global provides brand consultancy in more than 70 countries and employs over 700 individuals across the company. Principle Global clients include the automative giants Jaguar Land Rover and Jeep, as well as Bupa, Specsavers and O&CC, the largest outdoor retailer in the UK. Principle Global was advised by Squire Patton Boggs during the deal process.
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Five-step plan revealed to supercharge small business exports
- A cross-Whitehall approach to policy: International trade should be made a priority for all Government departments. Domestic and trade policies must be aligned to ensure the UK maximises the benefits from Free Trade Agreements. This means other Whitehall departments and regulators need to be more aware of trade goals and actively contribute to trade negotiations.
- An open relationship with business: Legislation and trade deals should be developed through open and honest discussions that prioritise the needs of small businesses. A Senior Exports Council should also be created to ensure continuous and meaningful engagement with the business community.
- Global leadership on digital trade: The UK should lead the way on paperless trading across the global supply chain.
- Open to export from day one: SMEs should receive immediate support when they start trading internationally, including robust expert guidance and efforts to overcome mindset-related barriers.
- Addressing the finance gap: Improving SME access to trade finance and reducing the financial barriers to trade.
New neighbourhood at Sheffield’s former Cannon Brewery gets green light
Sheffield City Council’s Planning and Highways Committee voted unanimously to approve a masterplan for the massive brownfield plot. It’s being brought forward by social impact developers Capital&Centric, the team behind the restoration of Eyewitness Works in the Devonshire Quarter.
The decision clears the way for the next chapter for the long-dormant brewery, where beer was brewed until the 90s. The outline plans include retention and repurposing of the most interesting buildings from the former brewery alongside contemporary new builds to deliver over 500 homes, work and cultural spaces.
The team is working with South Yorkshire Mayoral Combined Authority (SYMCA) and Sheffield City Council to make the blueprint a reality. The combined authority awarded a £11.67 million grant to kick-start the regeneration earlier this year.
Oliver Coppard, South Yorkshire’s Mayor, said: “Our homes are our foundation; the bricks and mortar that give us security, that bring our family and communities together. And we need more of them in South Yorkshire. Cannon Brewery is an exciting opportunity to bring a huge site back to life that has stood derelict and underdeveloped for too long.
“Through collaboration with Capital&Centric this prime site can set a new high bar for regeneration across South Yorkshire. My ambition is not just for more and better homes, but for developments to attract investment, create spaces for new businesses and to further cement our well-deserved reputation as being a brilliant place to live.
“I believe the project at Cannon Brewery can help us to deliver that ambition.”
The landmark decision will enable targeted demolition and remediation to start in Neepsend this summer, prepping the site development. In the meantime, more detail of the look and the feel of the buildings and new public spaces will be worked up.
Cllr Tom Hunt, Leader of Sheffield City Council, said: “The transformation of the former Cannon Brewery site is yet another exciting new development for Sheffield. We are working hard with our partners to increase the number of new homes and to regenerate parts of our city.
“The combination of new homes, new workplaces, and new public space will help to turn the site into a thriving new neighbourhood. I look forward to seeing work start on site.”
At Neepsend, an urban park and a new public square with shops, cafés and spaces for pop-up events is included.
Tom Wilmot, joint managing director of Capital&Centric, said: “Cannon Brewery has sat dormant for decades, but this decision fires the starting gun on a really exciting next phase.
“The need for new homes is a national imperative, but we want to ensure we help grow Sheffield’s neighbourhoods in a way that’s creative, considered and adds positively to the social fabric of the city.
“A massive thanks to both the combined authority and council who’ve seen our vision for Neepsend and share our ambition to make it happen.
“The Cannon Brewery neighbourhood will be a pretty special place, packed with personality, once we’re done with it. Our first step will be to carefully strip out the existing buildings, keeping all the parts that tell the story of the site’s past, and prepping the site for construction to start.”