Daniel and Jennifer discuss a clothing company's financial results, planning permission secured for a landmark manufacturing development and a hotel scheme in Yorkshire.
Category
🗞
NewsTranscript
00:00The company's financial results, planning permissions secured for a landmark manufacturing
00:04development and a hotel scheme in Yorkshire all feature in today's business briefing.
00:15So good morning Dan.
00:16Good morning.
00:17I believe you have some exciting company results for us this morning.
00:21Quite an interesting results story.
00:23An outdoor clothing brand based in the New Forest has reported a significant rise in
00:27turnover.
00:28So it's Passenger Clothing, are you familiar with them?
00:31Yeah, definitely.
00:32Yeah, I think they're quite well-known.
00:33They were founded in 2012 by Richard Sutcliffe and his wife, Alexa.
00:37So it's an outdoor clothing brand for adventure seekers, but they've also got a major focus
00:41on their environmental responsibility as well.
00:44So it's quite a well-known brand, but it's got quite an interesting backstory as well.
00:49It all began with the founders adventure seeking in Europe in a van, and they often came up
00:54with their ideas in the cold underneath sleeping bags.
00:59Over recent years, they've experienced significant growth, and in their most recent financial
01:02results, they reported a turnover of 32.5 million pounds, which is actually a 78% rise
01:08from the previous year.
01:10Pre-tax profit was 1.7 million pounds, which is actually a slight decrease, but that's
01:15due to heavy investment and expansion and scaling of operations that actually tripled
01:19their UK warehouse capacity in the most recent year.
01:23And being environmentally responsible is obviously a very important part of the business, 74%
01:28of its products use lower footprint materials, and it plants a tree for every single order
01:33they get.
01:34Oh, wow.
01:35Yeah.
01:36The group also secured a minority investment in 2023 and is expanding internationally with
01:40strong demand in markets like the US, Germany, and France.
01:44I've also been in touch with John Lane, who's their CEO.
01:47He described it as an exceptional period of growth and said it's a very exciting time
01:51for the company.
01:52So we have very positive results there.
01:53I understand you've got a results story as well.
01:56I do indeed.
01:57So the house builder Castle Green Homes has reported its latest financial results for
02:01the year.
02:02For the 12 months to March 2024, the company reported a turnover of 87.4 million pounds,
02:09which is down from 95.7 million pounds for the period prior.
02:13The decrease was said to be contributed by the reduction in land sales in the year.
02:19Operating profit came to 10.8 million pounds, which was a fall from 12.2 million pounds
02:23for the previous year.
02:25The drop was said to be due to developments that were delayed in the planning process
02:28and the high proportion of partnership contribution compared to 2023.
02:34The business achieved 291 legal completions in the year compared to 231 in 2023.
02:41It also anticipates significant growth in 2025 with an increase to 600 legal completions.
02:47Looking forward, the director said that 2025 will be a transformational year for Castle
02:52Green with an increase in homes built, turnover, outlets opening in both the North West and
02:58North Wales and secured land bank.
03:00Sounds like a lot to be positive about there and there's a lot to be positive about in
03:04North Yorkshire because construction has begun on a luxury hotel, pub and restaurant in North
03:09Yorkshire, which is set to open in the summer of 2027.
03:12So it's located on the cliffs of Runswick Bay.
03:15It's called Cliffmount and it will include 20 CV hotel rooms as well as a separate pub
03:19and restaurant and it will replace the former Cliffmount Hotel, which was demolished in October 2024.
03:25The project aims to be the UK's first hotel with passive house accreditation, meaning
03:29it adheres to strict sustainability standards.
03:32Development is led by Silverstone Building Consultancy and Stainforth Construction and
03:36groundwork is underway before the phases of further construction can begin.
03:40So that's definitely quite an interesting one to keep an eye on.
03:44For sure.
03:45Finally, this morning then and over in the East Midlands, a planning permission has been
03:50secured for a landmark manufacturing development.
03:54Nottingham Planning Consultancy in 1947 has advised the aluminium trade extruder Garnalex
04:01on securing the go ahead to build a new multi-million pound manufacturing facility in Ashfield.
04:07The planning permission secured totals more than 1 million square foot and phase one is
04:12dedicated to the new factory and the remaining space is for phase two, which will comprise
04:17additional Garnalex facilities.
04:19Once both phases are complete, it is anticipated that they will provide more than 1,000 jobs.
04:25That's fantastic.
04:26Absolutely.
04:27So to hear more on that story and all of the other stories that we spoke on this morning,
04:30you can head on over to insidermedia.com where you can also hear about our upcoming events
04:35and sign up to be a member to our newsletters.