Author: Sam Allcock

Breedon, the Leicestershire-based construction materials company, reported a decline in pre-tax profits despite increased revenues. This contrast is due to a challenging UK market and growth opportunities in the US.The firm’s recent expansion into the US, including a significant acquisition, aimed to counterbalance the difficulties faced domestically. However, the UK market’s hurdles persist, impacting overall profitability despite efforts to enhance revenue.Breedon’s recent financial report revealed an 18% drop in pre-tax profits, falling from £56.5 million in the previous year’s six-month period to £46.5 million. Despite this, the company’s revenue increased by 3% to £764.6 million. This growth was primarily driven…

Grainger has made a notable investment by acquiring The Astley, a build-to-rent scheme in Manchester, for £31 million. This purchase is set to enhance Grainger’s robust portfolio in the city.The acquisition of The Astley, funded through strategic asset sales, aligns with Grainger’s goal to expand in key urban markets, offering high-quality rental options.Grainger’s Strategic AcquisitionGrainger, a prominent UK landlord, has strategically expanded its property portfolio by acquiring the Manchester-based build-to-rent scheme known as The Astley. This significant £31 million transaction marks a decisive move to strengthen its holdings in Manchester. The acquisition has been financed through Grainger’s asset recycling programme,…

Folk2Folk, a peer-to-peer lending company based in Launceston, has achieved a significant milestone by facilitating £700 million in loans. This milestone reflects the firm’s commitment to supporting regional business growth.Founded in 2013, Folk2Folk has steadily become a prominent financial entity, known for providing fixed-rate, property-backed returns to investors. Its recent achievements highlight its role in connecting small businesses with essential funding.Aiding UK Businesses Through Strategic LendingFolk2Folk’s innovative approach to lending has been instrumental in aiding various UK businesses. The company has facilitated finance packages that support diverse projects, such as a custom cricket bat start-up and a renewable energy initiative.…

Integra Buildings presents an innovative solution to the UK’s prison overcrowding crisis with its modular cells. Thoroughly tested for compliance, these units promise a rapid and efficient alternative to costly renovations of old facilities.Innovative Approach to Prison OvercrowdingAs the issue of prison overcrowding continues to challenge the UK, Integra Buildings has emerged with a promising solution. The company has developed a modular cell that adheres to governmental standards, as verified by rigorous testing at the BRE Science Park in Watford. The cell, designed to be adaptable as either standalone units or as part of a larger structure, could offer rapid…

Fuller Smith & Turner, a prominent pub chain, has demonstrated commendable sales growth, marking a 5.3 per cent increase over the initial 16 weeks of the financial year. Events like the Euro football championships were instrumental in this upswing.With a strategic focus on sales and debt reduction, the company has reinforced its financial position. This approach has not only boosted revenues but also prepared Fuller’s for future expansion possibilities.Financial PerformanceFuller Smith & Turner has reported a notable increase in sales, reflecting a 5.3 per cent growth over the past 16 weeks compared to the previous year. This surge is attributed…

The Port of Blyth is poised for a technological transformation with a new 5G Innovation Lab. This initiative follows a substantial £500,000 investment aimed at boosting local innovation.The establishment of the 5G Innovation Lab at the Port of Blyth marks a significant step forward for regional technological advancement. This facility is supported by a £500,000 investment from the North East Combined Authority, aimed at fostering innovation and collaboration among local businesses, particularly those in the offshore energy sector. By providing access to cutting-edge 5G technology and resources, the lab is designed to enable companies to develop and test new solutions,…

Mitie Group has reported a significant financial upturn, achieving £1.16 billion in revenue. This growth is largely driven by strategic acquisitions and major contract wins.The outsourcing provider highlights its robust progress with a 10.5% revenue increase compared to last year, showcasing effective business growth and expansion strategies.Record Revenue AchievementsIn a significant financial milestone, Mitie Group has reported a remarkable revenue increase to £1.16 billion in the last quarter. This presents a 10.5% rise compared to the same period last year, primarily attributed to strategic acquisitions and substantial new contracts.Mitie’s recent performance highlights the successful acquisition strategy implemented over the previous…

Praetura Ventures leads a £3.25 million investment in Ocula, an AI innovator in e-commerce.This strategic funding will support Ocula’s growth and technological advancement.Praetura Ventures has spearheaded a significant £3.25 million Series A investment into Ocula, a rising star in the AI and e-commerce sectors. This financing round aims to bolster Ocula’s technological capabilities and market reach, reflecting Praetura’s trust in the company’s innovative solutions. The investment also includes contributions from Castelnau Group and Lloyds Banking Group, indicating a strong collaborative effort to fuel Ocula’s growth.Ocula has embarked on a mission to revolutionise e-commerce with its AI-powered tool, Ocula Boost. This…

Reach plc has entered into a noteworthy partnership with City AM, aiming to enhance business journalism across its publications.This collaboration will allow City AM’s well-regarded editorial content to feature extensively in Reach’s titles, including BusinessLive, over a two-year period.Strategic Partnership UnveiledThe collaboration between Reach plc and City AM marks a significant development in the field of business journalism. This strategic alliance is set for an initial duration of two years, during which City AM’s editorial content will be shared online across Reach’s extensive network of publications. These include prominent titles like BusinessLive, as well as other national and regional outlets…

The Ministry of Defence has announced a £6.5 billion agreement with missile manufacturer MBDA. This 10-year deal is set to support thousands of jobs across Bristol, Bolton, and Stevenage.The partnership, a renewal of earlier collaborations, was unveiled by Defence Secretary John Healey at the Farnborough International Air Show. The deal represents a significant investment in the UK’s defence capabilities.The newly signed agreement between the Ministry of Defence and MBDA aims to bolster the United Kingdom’s national security. By renewing this partnership, the organisations are committing to the design, development, and production of advanced weapons systems, critical for countering current and…