Author: Dave Antrobus

Bendi Software has successfully secured £815,000 in funding to drive its strategic expansion efforts. This funding will focus on enhancing its AI-powered software, Prism.Purpose of the FundingThe core purpose of this substantial funding is to support the development and enhancement of Bendi’s cutting-edge AI-powered data intelligence software, Prism. With businesses increasingly needing to identify and manage environmental, social, and governance (ESG) risks, this software is designed to uncover hidden challenges in complex supply chains.Understanding ESG RisksESG risks often include issues such as forced labour, health and safety violations, and environmental non-compliance. These challenges are particularly difficult to detect in global…

Principle Estate Management has expanded its presence, targeting the North West through a strategic acquisition of FMS Estate Management.This Birmingham-based company’s latest move enhances its management of 20,000 units across the UK, signalling significant growth ambitions.Strategic Expansion into the North WestBirmingham-based Principle Estate Management has strategically expanded its portfolio in the North West through the acquisition of FMS Estate Management. This prudent move underscores the company’s commitment to extending its reach in the United Kingdom. By adding FMS’s block management services, Principle now oversees an impressive 20,000 units nationwide. The acquisition exemplifies Principle’s dedicated approach to growth, having previously acquired…

Etihad Airways has announced a remarkable 50% profit growth in the first half of the year.The airline carried 8.7 million passengers, reflecting a 38% increase, generating £183 million post-tax profit.Financial Performance OverviewEtihad Airways has reported an impressive 50% increase in its half-yearly profit, reaching £183 million post-tax for the first half of the year. This remarkable achievement comes amid a global shortage of aircraft, highlighting the airline’s resilience and adaptability. The UAE flag carrier successfully flew 8.7 million passengers from January to June, marking a 38% increase compared to the previous year, and achieved revenue totalling £2.5 billion, representing a…

The family-run Northumberland firm A&J Scott is expecting a brighter year ahead following a downturn in its key markets. Recent financial results indicated a decrease in turnover, yet the company remains optimistic due to rising demand for their timber products.The firm, notable for supplying sawn timber for various sectors, has experienced demand resurgence, paving the way for potential stability in the upcoming period. With significant investments in technology and sustainability, A&J Scott anticipates enhancing their market position and profitability despite previous challenges.Financial Performance in PerspectiveA&J Scott Ltd reported a noticeable decline in turnover, recording £34.6 million compared to £53.1 million…

The Development Bank of Wales has successfully exited its investment in Camtronics, an electronics firm based in Tredegar. This exit follows a strategic investment made in 2018, which facilitated a management buyout of the company.Since the investment, Camtronics has witnessed significant growth, doubling its turnover and strengthening its market position. This article delves into the details of the investment, the growth trajectory of Camtronics, and the strategic exit by the Development Bank.In 2018, the Development Bank of Wales made a strategic investment in Camtronics, contributing £450,000 to facilitate a management buyout. This investment was part of the Wales Management Succession…

Bellway, a renowned Newcastle housebuilder, has secured an additional timeframe to decide on acquiring Crest Nicholson. This extension permits Bellway to conduct further assessment and discussions.The decision deadline has now been extended to August 20. This move aligns with the resolve to optimise investment decisions. The extension provides ample time for enhancing strategies and assessing the financial implications of the acquisition.Bellway’s decision process regarding the potential acquisition of Crest Nicholson has been granted more time. The new deadline supplies Bellway with an opportunity to refine its strategic approach towards this significant merger. The extension emphasises the importance of decisions supported…

Anarchy Brew Co, a well-regarded craft brewery based in Newcastle, faced severe financial challenges following the pandemic. However, a strategic acquisition by new investors has safeguarded all jobs at the brewery.The acquisition, completed through a pre-pack deal, not only preserved the brand but also maintained its workforce. This transition to Anarchy Beers Ltd promises a fresh chapter for the iconic Tyneside brewery, ensuring continuity in its operations.Background of Anarchy Brew CoFounded in 2012 by Simon and Dawn Miles, Anarchy Brew Co quickly gained recognition for its distinctive craft ales. Its range of IPAs, including Junkard and Citra Star, developed a…

Hill and Smith, a prominent infrastructure supplier, has reported a sharp decline in shares amidst difficulties faced by its UK division. Financial pressures have been highlighted despite overall profit growth.Despite a 10 per cent rise in pre-tax profits to £63.2 million for the half-year period ending June, Hill and Smith’s revenue only saw a marginal increase of 0.4 per cent to £422.7 million. The UK segment posed significant challenges, attributed to a ‘more challenging market backdrop’ and reduced demand from public sector clients.The situation, described as a ‘more challenging market backdrop’, has resulted in a notable impact on the company’s…

GB Bank is making waves in the financial sector with its planned move from the North East to a new London headquarters.This strategic relocation is accompanied by a leadership change, reflecting the bank’s commitment to growth and innovation.GB Bank has announced its plan to relocate its headquarters from the North East to London, marking a significant strategic move. Originally established in Newcastle and later headquartered in Middlesbrough, the bank’s decision to set roots in London signifies its ambition to better penetrate the national market. This relocation aims to enhance its presence in the vibrant London and South East property markets,…

Hiscox has released its interim financial results, revealing substantial growth despite facing a more active loss environment. The insurer reports a notable 3.3% rise in ICWP.Hiscox has reported a strong financial performance amidst ongoing industry challenges. The company achieved a 3.3% increase in insurance contract written premium (ICWP) during the first half of the year. This increase equates to a rise of $89.6 million (£70.5 million), bringing the total premiums to $2.8 billion (£2.2 billion) up from the previous $2.7 billion (£2.1 billion).In this financial period, Hiscox’s profit before tax rose by 7.1%, reaching $283.5 million (£223 million). This growth…