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“The General Export Facility has given us the confidence to manage working capital to meet overseas demand efficiently and competitively. As we expand into new markets, we see UKEF as a key partner in our international growth.”
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MD+M completes first phase of Leeds Bradford Airport’s £100m expansion
Millar Design + Management (MD+M) has completed its role in the first phase of Leeds Bradford Airport’s £100 million terminal expansion. The project forms part of the airport’s wider LBA:Regen development, designed to modernise facilities and increase capacity.
Phase 1 included a 102,250 sq ft, three-storey arrivals terminal featuring additional seating, an expanded baggage reclaim area, new retail and dining outlets, and improved accessibility for passengers with restricted mobility.
MD+M acted as lead designer, architectural and interior designer, and project manager, and provided mechanical, electrical, structural, and fire engineering services throughout the project, which began in 2019.
The next phase will focus on refurbishing the existing 1968 terminal building while maintaining full airport operations. Upgrades will cover terminal capacity, retail space, passenger seating, and baggage handling. Completion is targeted for late 2026.
Once both phases are complete, Leeds Bradford Airport is expected to handle up to seven million passengers annually. The redevelopment is a central part of the airport’s long-term Vision 2030 growth strategy, aimed at enhancing regional connectivity and supporting economic development in West Yorkshire.
Student accommodation developer sees 95% occupancy across key cities
Tissue Regenix revises results and reshuffles leadership
Leeds-based medical device firm Tissue Regenix has revised its 2024 financial results after uncovering inaccuracies in inventory and cost of sales reporting. The adjustment shifted the company’s adjusted EBITDA from a previously reported $1.9m profit to a $1m loss.
The restatement also affects its 2025 half-year results, changing an earlier reported adjusted EBITDA of $200,000 to a $2.3m loss. In response, the company has announced changes to its leadership team. Daniel Lee has stepped down as chief executive, and executive chairman Jay LeCoque has taken on the role of acting CEO.
Former group finance director and current EMEA business director Kirsten Lund has been reappointed as chief financial officer.
The new leadership team is implementing a cost-reduction programme exceeding $2m to improve gross margins and EBITDA performance. A revised commercial strategy is also being rolled out to strengthen the company’s financial position and rebuild investor confidence.
Croda maintains steady growth while targeting major efficiency gains
Croda International recorded third-quarter sales of £424.7m, reflecting a 4.4% year-on-year increase. The Goole-based chemicals manufacturer said its consumer care division generated £241.6m, while life sciences reached £133.8m and industrial specialties brought in £49.3m.
The company is progressing with a cost transformation programme that aims to deliver £100m in annualised savings by 2027. Around £25m in savings is expected this year as Croda streamlines operations, consolidates manufacturing, and improves procurement processes.
Its full-year forecast remains unchanged, with adjusted pre-tax profits anticipated between £265m and £295m. Croda noted gradual improvement across its key markets, supported by reduced customer destocking and a more stable pricing environment.
The business continues to focus on high-value areas such as life sciences and personal care as it adapts to softer demand in industrial segments. Croda said it remains confident in achieving sustainable earnings growth through disciplined investment and operational efficiency.