- Optimism in December, compared with three months ago, fell at the fastest pace since September 2022 (weighted balance of -28% from -13% in September).
- Growth in business volumes picked up in the quarter to December (+32%) after a modest increase in the three months to September (+6%). Firms expect a similarly quick pace of volumes growth over the next three months (+32%).
- Average spreads fell at a survey-record pace in the quarter to December (-62% from -55% in September) and are expected to decline at a slightly slower rate over the next three months (-57%).
- The value of non-performing loans increased in the quarter to December (+18% from 16% in September) at the fastest rate since March 2021. Their value is expected to rise at a broadly similar pace over the next quarter (+21%).
- Profitability fell at a more modest pace in the quarter to December (-14% from -43% in September). FS firms expect a significantly quicker drop in profitability over the next three months (-55%).
- Headcount declined at a quicker rate in the quarter to December (-25% from -15% in September). Firms expect headcount to fall at a similar pace next quarter (-26%).
- Firms expect to increase IT investment in the next 12 months (compared to the last 12). However, capital expenditures on land & buildings and vehicles, plant & machinery are expected to fall.
- Around two-thirds of firms reported that “other” factors were likely to limit capital expenditure over the next 12 months (65%, near last quarter’s record high of 66%). Comments highlighted that companies are most concerned about the impact of substantial cost increases from the Autumn Budget on investment.
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Harworth ends year with more than £104m in land sales
Rotherham-based land regenerator Harworth completed the last quarter of 2024 with housing plot sales of more than £71m, taking the total for the year to £104m – double the total for 2023.
The company says the sales volume reflects the continued strong demand for its de-risked serviced residential land product as well as evidencing success of the Group’s strategy to accelerate delivery of residential sites and broader range of products. Alongside its Residential plot sales Harworth also completed land sales at Skelton Grange (Phase 1, 27 acres) and Ansty (278 acres), for total headline sales value of £106.3 million. Harworth Group Chief Exec Lynda Shillaw said: “Harworth had a busy fourth quarter in 2024, concluding nine Residential land sales, comprising 1,896 plots for £71.7 million. This takes the total plot sales for 2024 to a new annual Harworth record of 2,385 plots, generating £104.1 million of cash, split between upfront and deferred payments, and is in line with our strategic target of 2,000 per year on average. “Throughout the year we continued to see healthy demand, and notably we also completed two major land sales at our Skelton Grange and Ansty developments in December, for £106.3 million. The proceeds from these sales will be reinvested into our Industrial & Logistics development programme to continue creating value for our stakeholders. “We are committed to delivering sustainable regeneration schemes, creating new communities in our regions and supporting delivery of much needed high quality housing in the UK by accelerating delivery at our sites, and broadening the range of our mixed tenure products, which saw 582 of the year’s plots sales to affordable housing providers. “Our approach to placemaking and strong collaboration with strategic partners is key to success on these developments, and our extensive consented pipeline of 4,568 plots positions us well to continue supporting growth in the UK.”Danielle takes over as MD at Berwins Solicitors in Harrogate
Harrogate-based law firm Berwins has appointed Danielle Day as MD, succeeding founder Paul Berwin, who has been instrumental in the growth of the business for almost four decades.
She said: “I’m naturally honoured to take on the leadership of such a well-respected firm, especially at such an exciting time for us.
“Berwins has a proud history of supporting businesses to thrive and people to navigate often challenging periods in their lives. The firm has been able to do that, not just by building a team of legal experts, but by developing and practicing a culture of exceptional care. That’s an approach I’m passionate about and, as we prepare to launch a number of new initiatives, it’s one that will be at the heart of all we do.”
Danielle has been a member of Berwins’ board since 2022. She has also successfully led the firm’s Family Team to sustained growth, championing the development of new and cutting-edge ways of supporting clients through difficult circumstances.
Paul Berwin said: “Since joining the firm over a decade ago, Danielle has shown herself to be both an excellent lawyer and a gifted leader.
“Those gifts, coupled with an innovative approach to problem solving, mean that she is ideally suited to take the firm forward as Managing Director. Just as it is a pleasure to work alongside her, I will take great delight in seeing her contribute to what promises to be a bright future for the firm.”
Paul remains a director and active force within the firm, focusing his attention on Berwins Corporate and Commercial work, both as a departmental head and a standout lawyer.