Watch: Insider's Business Briefing - 9th October
Adam and Dan discuss the richest sports stars in the UK, a marketing deal in Leeds, and accounts from two companies in the Midlands - including an iconic sweet maker.
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00:00The richest sports personalities in the UK, a marketing deal in Leeds and
00:04results from two companies in the Midlands, including an iconic sweets
00:08maker, all feature in today's business briefing.
00:16Morning Adam. Morning Don. So I'll start things off today. I've seen a deal in
00:20Leeds. The performing marketing agency Connective 3 have acquired Creative
00:25Content Agency Powerhouse for an undisclosed sum. So these companies are
00:29both based in Leeds. Connective 3 was founded in 2019 and they work with
00:32well-known brands such as Ocado, Love Holidays and Avon and they help them
00:36with their marketing campaigns which obviously helps them to drive growth.
00:39Powerhouse is a content creation studio founded in 1999 so it's quite
00:44interesting that the company founded in 2019 is acquiring a company in the
00:49late 90s, so new acquiring old in a sense and Powerhouse, they
00:53specialize in marketing through photography and film. They work with
00:56brands like Iceland and Yorkshire Tea which we have in our office. Yeah I'm
01:00patriotic about Yorkshire Tea. Yeah I think it's the best tea as well, nice and strong.
01:03So Powerhouse will continue to function as their own entity and
01:08they will benefit from additional support in finance, operations, sales and
01:11marketing which in turn will fuel their business growth. The acquisition will
01:15see Connective 3's overall headcount increase to 130 and the company's
01:20forecasted revenue is expected to exceed 11 million so quite a good deal
01:24there. I know you've got some results for us. Yes, a couple of big set of
01:29results from the Midlands this morning. DPD, the parcel delivery giant, which you
01:34know we see their vans on the roads quite frequently, they filed accounts for
01:38what they described as a successful year. DPD Group UK is what the accounts come
01:44under and they actually headquartered in the West Midlands and they've reported
01:47revenues of 1.47 billion for the year to, very significant to 31st of
01:53December 2023 and that's actually down from the prior year which was 1.49
01:58billion. The business generated pre-tax profits of 262.8 million, also down
02:04from 299.5 million. The company said the performance came against the backdrop of
02:09the cost-of-living crisis which has impacted a lot of companies and DPD say
02:13it of course impacted customer, excuse me, customer demand there but it did add
02:19that it ended the period in a strong financial position. Now it's not the
02:24only big set of results from the Midlands this morning, we have accounts
02:28for Swizzle's Matlow which are behind a range of iconic sweets. What's your
02:33favourite sweet? I quite like a chewy sweet, you know, that I can chew on rather than a
02:37hard-boiled and I especially like drumsticks actually. It's good that you
02:40said that because Swizzle's Matlow is actually behind drumstick lollies as
02:43well as things like Refreshers, that were one of my favourites when I was a kid
02:48and love hearts. The company was actually founded between the two
02:51world wars in 1928. Headquartered in Derbyshire, it has now generated a turnover of
02:5796.6 million for the year to 31st of December 2023, which is up from 89.3
03:04million in 2022. Despite this, pre-tax profits did fall from 8.2 to 4.4
03:10million but in a strategic report the company said it's confident that it can
03:15continue to grow and maintain its position. Some interesting results there
03:19then and so just to finish off today, I've got the richest sports
03:22personalities in the UK. So this was initially a list from the Sunday Times,
03:27they revealed a list of people aged under 40 and our colleague Jen has
03:31narrowed this down to seven people who earn their wealth through sports
03:33specifically. So before I get into that list, any guesses on which sports people
03:38could feature on it? I don't know, maybe Harry Kane or Tyson Fury? One of those is
03:44correct, Harry Kane is in there, Tyson Fury isn't but someone who everyone wants
03:48to see, Tyson Fury Box might be and no points for whoever guesses who that
03:52might be. So I'll get into the list, at number seven we've got Gareth Bale, he's
03:56worth 70 million. Obviously he had a great career at Spurs and Real Madrid,
04:00loves his football but also his golf and he owns a sports bar and competes in a
04:04lot of celebrity golf tournaments. Number six and number five, we've got two more
04:08footballers who are still playing, Harry Kane who you said and Raheem Sterling.
04:12Sterling, he's at number six, he's got lucrative deals with New Balance
04:16and Gillette amongst others. You see Sterling in those Gillette adverts a lot.
04:19Yeah of course. He's worth 72 million and Kane, obviously England captain, he
04:24earns a lot at Bayern Munich, he earns 400,000 a week and he's keen on
04:27investing that into other businesses and he's worth 75 million. At number four we
04:32move into tennis, we've got Andy Murray, iconic tennis player of course, he's won
04:35more than 50 million on the tennis courts and he's involved in a
04:39deal with American Express and all sorts. He has a 35 million stake in the
04:43sportswear brand Castore and he's worth 100 million. It's quite a jump to 175
04:49million for Anthony Joshua who sits at number three, so that was the boxer
04:53obviously who I mentioned earlier, a former heavyweight champion. He's quite keen on
04:56investing in the property market actually and that has built up his wealth
05:00in addition to his success in the ring. In runners-up second spot we've got Rory
05:05McIlroy, the golfer, he's made tons of money from winning various
05:09golf competitions and he also has sponsorship deals with with Nike and
05:12Omega. He's worth 225 million and at the top of the list, who do you think is at the
05:17top? It's a new sport, Formula One this one. It must be Lewis Hamilton. It is of
05:21course Lewis Hamilton, worth a massive 350 million. He's earned more than 40
05:25million from his driving, sorry 40 million a year from his driving and has
05:29collaborated with Puma and Monster Energy amongst many other iconic brands
05:33and his new contract with Ferrari could be worth as much as 358 million
05:37according to Sunday Times, so that would obviously be mega if that turns out to
05:41be true. So that rounds up the list and I think that rounds us up for today.
05:45Interesting that an F1 star beat out football players and tennis players and
05:49golfers. Yeah, you hear a lot of people say that football is all about money, obviously Formula One
05:53has got, it plays a big role in Formula One as well. Definitely, and that's it
05:58from us and you can hear about those stories or others at insidermedia.com
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