In Brief: Fenner; Boyes & Co; Bilfinger Europa; Vantage Relocation
INDUSTRIAL group Fenner today said its financial position remains strong.
In update on trading for the six months to the end of February 2014, the East Yorkshire-based conveyor belt and reinforced polymer manufacturer said its results for the period will, as previously indicated, be below those for the first half of its previous financial year but the board anticipates that, in constant currency terms, the outcome for the year as a whole will show modest growth compared with the previous year.
Engineered Conveyor Solutions’s (ECS) trading results for the first half of the year were in line with management expectations albeit, as previously indicated, below the first half of last year on a constant currency basis, largely reflecting the very strong trading in Australia in the first quarter of that year.
Advanced Engineered Products’s (AEP) performance during the period has been encouraging, particularly amongst those of its businesses which serve the oil and gas industry, as it has continued to make progress towards the strategic objectives for the development of its businesses globally, Fenner said.
Hessle-based Fenner said the group’s financial position remains strong.The group expects to report net borrowings at February 28 2014 of circa £135m (£172m as at February 28 2013, equivalent to £154m using exchange rates prevailing on February 28 2014).
YORKSHIRE-based store chain W Boyes & Co is continuing its expansion with the opening of two stores in the Midlands.
The retail chain has acquired a lease for a new store in Eastwood, Nottinghamshire, along with the freehold purchase of a former Woolworth’s site in Coalville, Leicestershire.
In addition, the chain has renewed leases for existing stores in Melton Mowbray and Lincoln, and has purchased the freehold of an existing Boyes store in Kendal.
The Scarborough based chain was supported in each of the deals by Langleys Solicitors. The York and Lincoln based law firm has previously advised Boyes on store openings throughout the East Midlands as well as a lease deal for a store in Skipton.
BILFINGER Europa Facility Management, based in Morley, Leeds, has further enhanced its London presence after winning new Total Facilities Management contracts with a combined value in excess of £3m.
The integrated support services group has secured two new capital-based deals, including an agreement to provide TFM services of Mechanical and Electrical works, maintenance, cleaning, security and catering to English Heritage’s grade II listed premises at Holborn, plus its Swindon site, for four years.
English Heritage is the government’s statutory adviser on the historic environment and an executive non-departmental public body sponsored by the Department for Culture, Media and Sport.
Greig Brown, chief executive for Bilfinger Europa, said: “Through securing these new TFM contracts with world-renowned organisations we have further enhanced our already significant existing London presence.”
A RELOCATION company believes the tide has turned for the Humber region as more businesses and employees consider making it their new home.
Peter Watson, the managing director of relocation specialists, Vantage Relocation, which was founded in London in 2002 before opening its East Yorkshire Office in 2008, feels a combination of factors have created an ideal environment to foster new business relationships and renewable growth in Hull and the Humber.
He said: “It’s an exciting time for the Humber region. We have secured LEP status, and it is already one of the country’s leading areas for the renewable energy industry, with 20 new wind energy projects now underway from across the UK and all over the world. Most recently, we heard about the £450m Able Marine Energy Park on the south bank, which could create up to 10,000 jobs. But I feel this is the tip of the iceberg.
“There is a bit of a buzz about the Humber region in general. As well as business successes, we’ve had the City of Culture news for Hull and things like this and Hull City’s premier league status really help to raise the profile. We attend many conferences to share our knowledge on how businesses moving to new areas can reduce the time, effort and cost of relocation. More and more people want to talk about the Humber with a view to establishing a presence here.”