Revenue and profit hike at Rolls-Royce as change programme gathers pace

1 month ago Business Live

Underlying operating profit also climbed year on year, from £414 million to £652 million, while underlying pre-tax profit rose from £36 million to £206 million. LinkedIn For all the latest stories, views and polls, follow our BusinessLive East Midlands LinkedIn page here. The company said its transformation programme was under way to "create a high-performing, growing and competitive business" and deliver a step-change in its performance. "Our transformation programme will improve our efficiency and commercial outcomes and deliver a sustainable reduction in working capital. Our transformation programme is already under way and is moving at pace.
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North East hospitality firm swoops for historic St Kilda Hotel in Llandudno

Rapidly expanding hospitality firm The Inn Collection Group has snapped up a third Welsh site with the acquisition of St Kilda Hotel in Llandudno. Based on the promenade between the Great Orme and Little Orme headlands in the popular seaside town, the St Kilda dates back to 1854 and has coastal views overlooking Llandudno Bay. Read more: Fenwick sees sales rebound and losses narrow despite Covid woesSean Donkin, managing director of The Inn Collection Group said: “We are absolutely delighted to be bringing The St Kilda Hotel into our pubs with rooms family and continue our expansion into Wales. What sets The Inn Collection Group aside is the exceptional locations of our trading environments and their beautiful outdoor localities and The St Kilda is a perfect match. However, having now worked with The Inn Collection Group on several deals and understanding what they are after, I knew it would be the perfect fit for their growing estate and approached them confidentially.

5 months ago Business Live

24 firms win help from Loughborough University incubator

Sign up to FREE email alerts from BusinessLive - East Midlands - the latest news, views and analysis direct every morningSome 24 businesses – out of 81 that applied – have won support from Loughborough University’s business incubator LUinc. The firms make up the autumn cohort of companies accepted by the centre which has been helping university graduates and researchers with new businesses since 2011. The incubator is based on LUSEP, the Loughborough University Science and Enterprise Park, and provides a six-month programme to help productivity and job creation in innovative new businesses. It aims is to develop a new generation of local businesses which are “fit for the future”. Sirius Transformation joined LUinc last spring after making an initial enquiry through the Careers and Enterprise Hub in Loughborough town centre.

5 months ago Business Live

Booking.com, On The Beach and JMW Solicitors: The 35 latest North West hires and promotions

Businesses with operations all over the North West have announced a string of top hires and promotions over the last week. Below, BusinessLive rounds up the latest hires and promotions that we feel you should not miss. He said: "It’s a great honour to join such a dynamic partnership and I look forward to tackling the five key pillars outlined in MIP’s ‘2030 Roadmap’. "I am certain this will be an exciting journey as the business evolves, and I look forward to advancing Blume’s technological capabilities to provide new and innovative products to our clients." Acumen Financial PartnershipA West Lancashire based independent financial adviser (IFA) has appointed a new financial planning co-ordinator.

5 months ago Business Live

The Wales Fast Growth 50, 2022: These are the fastest-growing indigenous firms in Wales

Between them the 50 firms making up the Wales Fast Growth 50, 2022 - a projected devised by Professor Dylan Jones-Evans and now in its 24th year - generated a collective turnover of £654m in 2021 and employed nearly 4,000 people. The 2022 Fast Growth 50 year’s list shows, as it has done for the last twenty four years, the diversity and variety of fast growing businesses across Wales." Wales Fast Growth 50, 2022 701 Number of Fast Growth 50 firms since 1999 £30bn Additional revenue of firms since 1999 55,000 Jobs created since 1999 £654m Collective turnover of 2022 Fast Growth 50 firms £405m Additional revenue generation of this year's firms 1,800 New jobs created by this year's firms Wales Fast Growth 50, 2022Four fast growth firms are in Pembroke Dock although for the sixth year in succession, Merthyr Tydfil had no Fast Growth 50 firms located in the county. It tops this year's Fast Growth 50 after seeing revenues rise from £268,806 in its 2018-19 financial year to £25.1m in 2020-21 - a huge rise of 9,260%. The firm, which was the ranked first in last year's Wales Fast Growth 50 , is focused on continued growth in the years ahead.

5 months ago Business Live

Tom Joule – who started Joules selling wellies at country fairs – hopes brand will live on as administrators called in

Mr Joule said: “Today is a deeply disappointing day for Joules, and a sad day for me personally. “However, we would like to reassure everyone it remains business as usual right now. In the trading year before Covid, Joules sales were £218 million, up more than 15 per cent on the previous year. “The destiny of the Joules brand itself remains up in the air. Both Next and Frasers look logical suitors given their relatively robust position and recent habit of hoovering up assets from failed retail businesses.

4 months ago Business Live

Skidmore review welcomed on the Humber where Net Zero energy transition plans are in place

Hull and Humber Chamber of Commerce chief executive, Dr Ian Kelly, welcomed the report. Releasing his report, Mr Skidmore urged ministers to grasp the ‘historic opportunity’, highlighting how the government’s Net Zero Strategy offers the right direction, and the right policies to do so. He said: “We should be proud of the lead the UK has taken in tackling climate change, having exceeded expectations so far in our race to net zero emissions by 2050. More and more Net Zero action will have to take place locally and regionally over the coming years. “We will be continuing to work with Government to ensure we meet the UK’s Net Zero target, and ensure businesses reap the many benefits along the way."

2 months ago Business Live

Latest on £1.14 billion East Midlands devolution plans

The four local councils estimate devolution would free up funding worth £1.14 billion and have spent the past few months on detailed proposals. If it goes ahead a devolution deal, with a regional mayor and combined authority created for the area, could come into play from 2024, with the mayor elected in May of that year. We’ve seen how devolution has given other areas more influence, a bigger presence, and helped them make the most of their strengths. “These are the things we all want to see, as we work together for a better future for the East Midlands. The devolution deal on the table is called a level 3 deal, which offers the most local powers and funding, and includes the new elected regional mayor.

5 months ago Business Live

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