Adam and Jennifer discuss financial results for a luxury jewellery retailer, funding for a hamper business, and substantial growth for the UK's new car market.
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00:00Growth for the UK's new car market, a jewellery retailer's results, and an investment for
00:04a hamper business, all featured in today's Business Briefing.
00:08Good morning, Jen.
00:11Good morning, Adam.
00:14I believe you're kicking us off with a results story today.
00:19I am.
00:20So the luxury jewellery retailer Berries Jewellers reported strong financial results despite
00:26challenging conditions in the retail sector.
00:28So recently filed accounts for its parent company, Berens Group Limited, reported turnover
00:33of £76.7m in the year ending June 2024, compared to £77.3m in the year prior.
00:42Pre-tax profit was £15m, down from £15.5m in the previous year also.
00:49So Simon Walton, who is Berries Jewellers' Managing Director, said that despite the current
00:53economic landscape, the retailer has continued to invest heavily in its retail estate over
00:58the last 12 months.
01:00In the current financial year, Berries has undertaken full refurbishments of its Newcastle
01:05and Windsor stores and did a complete reconfiguration of its two stores on Commercial Street in
01:10Leeds.
01:11Later this year, the company will also be transforming its flagship Leeds store into
01:17the first Patek Philippe mono-brand boutique outside of London, which will be one of Berries'
01:23biggest launches to date.
01:25Interesting to see a company continuing to invest in its physical presence.
01:29Yeah, definitely.
01:31On another note, we've obviously been reporting on the storm created by Donald Trump's tariffs
01:37announcement.
01:38But in the midst of that, we've got some positive news for the UK's new car market, which recorded
01:42a 12.4% boost in registrations during March.
01:47The period also marked the best month ever for registration for electric vehicles, but
01:53this still remained below the mandated government target.
01:57The Chief Executive of the SMMT, Mike Hawes, described the results as a welcome return
02:02to growth, but he also called on more support to enable the industry to decarbonise in line
02:11with the government's targets.
02:14I think we're moving on to an investment.
02:16Yeah, so over in Hull, a family business that provides hampers for clients is set to
02:20double its capacity, following a loan from Northern Powerhouse Investment Fund too.
02:25Peach Hampers provides bespoke hampers branded with clients' logos and has products from
02:30local artisan producers.
02:32Its clients include the likes of Jaguar Land Rover, EE and ITV, and it has now received
02:37a £277,000 loan.
02:40The business started 12 years ago by freelance graphic designer Brendan Pallant in his spare
02:45bedroom.
02:46He now runs it with his wife, Laetitia, from its premises on Hull's Boulevard.
02:50The funding will give the company additional capacity to meet its growing demand, such
02:55as it will help create a new mezzanine floor, providing storage for extra hampers.
03:00A new conveyor belt and pallish wrapping machine will allow it to double its current rate of
03:05packing also, and the funding will enable it to reduce costs by bulk buying supplies
03:10in advance.
03:12A great growth story there, it's nice to hear.
03:16We're moving on to the property sector now, with plans for hundreds of homes on the site,
03:23formerly occupied by a manufacturing giant in Leicestershire.
03:27Waverly Limited are seeking full planning permission for 298 homes on land at Snow Hill
03:32in Milton Mowbray.
03:34The Brownfield site was formerly occupied by Gelb Wen, a major door manufacturer, which
03:41closed all of its Mowbray sites in 2022, and the site has remained vacant since then.
03:47The Council's Planning Committee will consider the application on 11 April, with a recommendation
03:54to approve.
03:55The report for the Planning Committee mentioned that an issue of viability has been raised
04:02to do with contamination of the site, to do with its historic use, but the applicant has
04:08agreed to provide education contributions to mitigate the impact.
04:13Well, if you'd like to hear more on that story, or the other stories that we spoke
04:17on today, you can head on over to insidermedia.com, where you can also subscribe to our newsletters
04:23and hear about our upcoming events.