Revenue on the rise at Abingdon Health

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Revenue is on the rise at Abingdon Health, a York-based developer, manufacturer and distributor of rapid tests, after a positive start to the firm’s new financial year, which included the acquisition of CS Lifesciences.

Revenue reached £3.1m, according to unaudited interim results for the six months ended 31 December 2024 (H1 2025), increasing from £2.4m in the same period of the prior year. Pre-tax losses, meanwhile, expanded to £2.6m from £1.2m.

The period saw the opening of the Abingdon Analytical laboratory in Doncaster and a US CDMO service site in Madison, Wisconsin, which is due to be fully operational by April 2025. The company noted that a stronger revenue performance is expected in the second half of its financial year, due to the impact of a number of new contracts, a full period contribution from CS Lifesciences, and the typical “seasonality” of the business.

Chris Hand, Executive Chairman at Abingdon Health, said: “FY 2025 has started very positively for Abingdon as we continued our momentum in executing key strategic milestones such as the acquisition of CS Lifesciences, the opening of Abingdon Analytical in Doncaster, and the commencement of work on our new US site in Madison which is set to be completed in April.

“Following some temporary headwinds during H1 2025, we were pleased to see growing contract momentum towards the end of the period and into H2, including a $2m contract developing sexually transmitted disease tests. Importantly, that contract utilises each limb of our business, highlighting our ability to provide an integrated, end-to-end solution for our global customer base.

“We believe we now have the foundations in place to build a sustainably profitable company. We are continuing to progress towards achieving our key goal of cashflow breakeven, which we expect to reach during calendar year 2026, without the need for further funding.”

UK private sector growth reaches six-month high, but recovery uncertain

UK private-sector activity grew at its fastest rate in six months, driven by stronger performance in the services sector, according to S&P Global’s flash UK composite purchasing managers’ index (PMI). The index rose to 52 in March from 50.5 in February, surpassing analyst expectations of 51. A score above 50 signals expansion.

Despite the improvement, economists remain cautious, warning that this increase does not indicate a sustained recovery. Business confidence remains near a two-year low, with concerns over rising taxes and labour costs set for April. Manufacturing continues to struggle, recording its weakest confidence levels in over two years and its lowest activity reading in 17 months. Industry leaders cite potential US tariffs and uncertain global demand as key risks.

In contrast, the services sector saw its strongest growth in seven months, with firms reporting improved sales opportunities, though business investment remains constrained. The data comes ahead of Chancellor Rachel Reeves’ spring statement, which is expected to address ongoing economic challenges.

Mixed year for Sheffield property business

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Henry Boot, the Sheffield-based land, property development, home building and construction businesses, has seen a decline in revenue and profit, with a challenging start to 2024 being followed by a strong second half. 2024 saw revenue come in at £328.4m, in comparison to £359.4m in 2023, with Henry Boot pointing to reduced turnover in its construction segment. Profit before tax reached £30.7m, down from £37.3m in 2023, in line with expectations, with an underlying profit of £29.4m, decreasing from £36.7m. Demand for the business’s land, prime development and premium homes, however, remained resilient, seeing Henry Boot complete almost £350m in land and property sales, with its share at £224m. Hallam Land, the firm’s strategic land and planning promotion arm, exceeded its 2024 financial performance expectations with 2,661 plots being sold (2023: 1,944), and secured 10 new sites with the potential to deliver 6,500 plots. During the year consents were secured on 2,982 plots, increasing the total plots with planning permission to 8,822. The gross development value (GDV) of property developer HBD’s completed schemes amounted to £331m (HBD share of £188m GDV), of which 72% have been pre-let or pre-sold, while the HBD arm now has a £1.4bn development pipeline. The construction segment, meanwhile, generated turnover of £80.5m, down from £99.5m in 2023, with an operating profit of £4.9m, decreasing from £6.5m. Tim Roberts, CEO at Henry Boot, said: “As anticipated, after a challenging start to the year we delivered a strong second half which allowed us to report results in line with expectations. “In particular, demand for our high quality land, prime development and premium homes has remained resilient. This led to us successfully completing almost £350 million in land and property sales and continuing to lease up space, including setting a record office rent in Manchester at our Island development. “Our investment portfolio also recorded another period of outperformance, with a total return of almost 10% for the year, meaning it has returned more than double the index over the last five years. We also continued to shape the business, with the agreed buyout of our JV partner at Stonebridge Homes, where we are now the majority owner. We will take full ownership of this premium housebuilder in the coming years, continuing to scale the business up, and delivering synergies as we integrate it into Henry Boot. “At Hallam Land, we’ve been quick off the mark in strengthening our team, so we are well prepared to capitalise on the positive changes to the NPPF, by increasing our planning applications fourfold to 10,000 plots over the next 12 months. “At HBD, we’ve formed the Origin JV which we believe will help us to accelerate the delivery of our institutional quality industrial development pipeline. All of this, along with our rock-solid balance sheet, the prospect of recovering markets, and an easier planning environment, means we are well placed for the future.”

South Yorkshire Housing Association in merger talks with Places for People

South Yorkshire Housing Association (SYHA) is discussing becoming a subsidiary of Places for People (PfP), one of the UK’s largest housing providers. The potential merger follows SYHA’s non-compliance with the Regulator of Social Housing’s (RSH) governance and financial viability standards.

In June 2023, RSH downgraded SYHA to ‘G3’ for governance and ‘V3’ for viability after identifying financial governance weaknesses, including miscalculations of loan covenant compliance. The regulator noted that SYHA has “limited financial capacity” in the short to medium term and is working with external advisors to secure its long-term stability.

Under the proposed deal, PfP, which manages 245,000 homes and generates £830 million in annual turnover, would integrate SYHA’s 5,000-home portfolio. If completed, the merger would provide financial stability for SYHA while expanding PfP’s presence in South Yorkshire.

SYHA CEO Larry Gold said the partnership would help sustain the organisation’s 50-year legacy and benefit customers, employees, and the wider Sheffield City Region. PfP Group CEO Greg Reed highlighted the strategic alignment, stating that combining resources would strengthen their ability to support communities in the region.

Avant Homes submits plans to deliver £20m home development in Wakefield

Wakefield-based housebuilder Avant Homes West Yorkshire has submitted plans and exchanged contracts on a 5.63-acre site in Lofthouse Gate, Wakefield to deliver a £19.9m, 80-home development.

Called Lingwell Gate and located on Lingwell Gate Lane in Lofthouse Gate, the site will consist of one-, two-, three-, and four-bedroom homes.

The proposed development will feature 15 of Avant Homes’ practically designed, energy efficient house type.

If given the go ahead by Wakefield Council, work at the development is set to commence in August, with the first residents expected to move into their new homes in spring 2025.

Avant Homes West Yorkshire managing director, Richard Hosie, said: “As a local business, we know first-hand what a great place Wakefield is to live, with its many amenities and excellent access to transport links.

“Our objective as a housebuilder is to provide quality new homes for everyone whilst developing the communities where we build, and our plans for Lingwell Gate meet those criteria.

“Our proposed development features a mix of practically designed, energy efficient house types that will appeal to a range of buyers, including first time buyers, second steppers, families and downsizers. We now look forward to Wakefield Council considering our plans.”

Lloyds Banking Group seeks developer for 100-home affordable housing project

Lloyds Banking Group has launched its first affordable housing redevelopment project in Pudsey, inviting developers to build 100 new homes. The fully affordable scheme, which has backing from Leeds City Council, includes a mix of one- —to four-bedroom homes, apartments, and green spaces.

The site, a former commercial property, is part of Lloyds’ broader strategy to repurpose decommissioned assets for social housing. Developers will need to finalise designs and secure planning approval from the council.

This initiative is the first of its kind by a UK bank, marking Lloyds’ direct entry into the social housing sector. The Group, which has provided £20 billion in social housing funding since 2018, is reviewing additional sites for redevelopment. If approved, construction could begin by late 2026.

Morrisons to close cafés and counters, 365 jobs at risk

Morrisons is set to close 52 cafés, 18 market kitchens, 17 convenience stores, 13 florists, 35 meat counters, 35 fish counters, and four pharmacies due to rising operational costs. The supermarket chain stated that the affected services were no longer financially viable.

While most impacted employees will be offered redeployment within the company, 365 jobs remain at risk of redundancy. CEO Rami Baitieh described the closures as necessary to refocus investment on areas that customers prioritise.

Grand Central plans direct Lincolnshire-London rail service by 2026

Grand Central has notified Network Rail of its plans to introduce a direct rail service between Lincolnshire and London, connecting Cleethorpes, Grimsby, Habrough, and Scunthorpe to King’s Cross. The company will submit a formal application to the Office of Rail and Road (ORR), and pending regulatory approval, services are expected to launch by late 2026.

The proposed route would add over 775,000 new seats annually, improving regional connectivity and optimising underused rail capacity. Trains will integrate with Grand Central’s existing services via Doncaster, offering more travel options for passengers.

Managing Director Paul Hutchings highlighted the significance of restoring direct rail links to Cleethorpes, last available in 1992. The service aims to enhance economic ties between Lincolnshire and London, benefiting passengers and businesses.

The initiative follows London North Eastern Railway’s failed attempt to establish a similar route in 2023. Grand Central’s expansion could reshape regional transport and support economic growth in underserved areas if approved.

Avant Homes secures approval for £45m North Lincolnshire development

Avant Homes has received planning approval for a £45 million residential development in Yaddlethorpe, North Lincolnshire. The 20.1-acre site, named Moorwell Meadows, will feature 200 energy-efficient homes with two to five bedrooms.

Construction is set to begin in May, and the first homes will be available for sale in October. A show home is expected to open in November, and initial residents are scheduled to move in by December. The project includes a £170,000 community contribution towards improvements to Riddings Community Centre.

Delivered by Avant Homes North Yorkshire, the development aligns with the company’s expansion strategy in Lincolnshire. Avant Homes operates across the Midlands, northern England, and Scotland, focusing on multi-tenure housing for private, rental, and affordable sectors.

Lloyds invites developers to transform Pudsey site into 100 new homes

Lloyds Banking Group’s first affordable housing redevelopment project in Pudsey has been put on the market, inviting developers to transform the site into 100 new homes. Lloyds Banking Group have designed a fully affordable housing plan for the site for prospective developers to follow, which has full support from Leeds City Council. The plans include a 93-unit affordable housing scheme comprising both houses and apartments, catering to diverse needs with a mix of 1, 2, 3, and 4-bedroom properties, along with green spaces and residential gardens. By regenerating a brownfield site, the development aims to provide much-needed affordable housing in an established community while contributing to urban renewal efforts. The successful developer will take forward a final design scheme to Leeds City Council to obtain full planning consent.
Lloyds Banking Group is the first UK bank to enter the social housing market directly, offering families at risk of homelessness access to affordable housing. This initiative aligns with the Group’s commitment to repurpose decommissioned commercial properties for social housing, announced in July 2024. It is expected that construction could begin in late 2026. Mark Burton, Lloyds Banking Group Ambassador for Yorkshire and The Humber, said: “This is an important first step in our plan to provide around 100 new affordable homes at our site in Pudsey and I am delighted to see it. “The lack of genuinely affordable housing in our communities means too many people are living in insecure or poor-quality conditions. “We’re working with local authorities in order to understand where our former sites may be well-positioned to support residential needs and I hope what we are seeking to do in Pudsey sparks many similar solutions around the UK – helping more people to access a safe and sustainable home.”