ShowcasingNorthernIrelandâsleadingSMEs Growingandexpanding withaÂŁ100mambition APRIL 2024 PriceÂŁ2.30(âŹ2.60) Next200 BGFonitsmissiontobackmoregrowingNIbusinesses
Contents
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5 APRIL 2024 18 08 News Thelatestnewsandexclusivesfromacrossthe worldofNorthernIrelandbusiness 14 InFocus JohnMulgrewsitsdownwithCBIdirectorgeneralRainNewton-Smith 37 Next200 UlsterBusiness chartsthesuccessesof NorthernIrelandâsleadingSMEs 55 Businessstart-up PaulGoslinglooksatwhatâsbeingdoneto improvethenorthwestâseconomy 59 Wordfromthe Wise Thismonth UlsterBusiness speakstoLeeann SaundersofITservicesfrmQualcom 61 SME&familybusiness WhyMickBoyleofKilleavyCastleisnâtquite doneworkingonhislandmarkproperty 69 Agribusiness JohnMulgrewchatstoFoodNIchiefMichele Shirlowaboutthefutureofourfoodsector 78 Motoring PatBurnstriesoutatopnewMercandunveils thelatestlittlespeedyelectric retroRenault 82 Appointments We lookatthenew rolesandpromotionsfrom acrosstheworldofNorthernIrelandbusiness 84 Photocall Alookatwhatâsbeenhappeningacross NorthernIrelandoverthelastfewweeks 92 Review TagHeuerâslatestvintage-inspiredchronograph isatruejaw-droppingpieceonthewrist 96 Technology
WalmarttrialstoanIPO:whatâsnextfor
From
69 82 84 8 37
SMEscontinuingto fueloureconomy
Thereâs littledoubtthatSMEs, andmicro businesses, remainthe core driversofNorthern Irelandâs economy
Whilewehaveleviathansofindustry employingthousands,thosewith international reach,andhighstreet businessesmostofususeweeklyifnot daily, itâs thecompaniesfromrightacross thesectorsinthatSMEmarketwhichmake upthebulkofourworkforce.
Thisyearâs Next200,inassociationwith GoSucceed,showcasestheperformance ofthosefrmsoverthelastyearortwo. Itfollowsonfromoursummer Top 100 edition,andhighlightsthefrmswhich manyofuswill recogniseasfamiliar householdsnames,alongsidethoseless
familiar, whichstillcontinuetoemploy dozens,orindeedhundredsofpeople, postingsalesinthetensofmillionsand enjoyingsizeableprofts.
Thisyearâs listshowssalesare uparound a ffthinthespaceofyear, withpre-taxprofts uparound11%.Itâsa similartrendtowhat weâve recentlyseenwithour Top 100list andhighlightsthebuoyancyand resilience ofthosecompanieswhichhelpdriveour economyforward.
Inthisedition,wealsofeature capital growthinvestorBGFasourcoverstory Itâs anorganisationwhichhasalready investedinseventopNIbusinesses,buthas aspirationstogrowthatnumberandhead towardsinvestmentofaroundÂŁ100minthe comingmonthsandyearsahead.Itâs eyeing
furtherexpansionhere andhasalready successfullyexitedtwofrms.
Weâre seeingthecogsofgovernment slowlyturningintheweekssincethe reestablishmentof a fullyworkingExecutive, anditâsa positivestep,seeingfnancial committments,announcements,and politiciansheldtoaccountforsomeofthe thingswhichhavepassedusby
Inthisedition I alsositdownwithCBI director-generalRainNewton-Smithfor a lengthychataboutNorthern Ireland,trade andthewiderUKeconomy
I hopeyouenjoythiseditionandweâllcatch upsoon. â
JohnMulgrew
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EDITORâS COMME NT S
A
month innumbers CBI chief: fresh optimism thanks to dual-market âfootholdâ
5.25%
TheBankofEngland baseratewhich remainsunchanged followingthelatest meetingofthe MonetaryPolicy Committee.
200
TheleadingSMEs makingupthisyearâs Next200listof companies,featured inthiseditionof Ulster Business
36%
Theincreasein electricvehiclesalesin NorthernIrelandover thelastyear.
ÂŁ100m
Theinvestmenttarget ofcapitalgrowth investorBGFherein NorthernIreland.
ByJohnMulgrew
NorthernIrelandcompaniesnow havefreshoptimismthankstoa âfootholdanduniquepositionâ withdual-marketaccesstothe restofthe UKandEU,atopbusinesslobbychiefhas said.
ButRainNewton-Smith,director-generalof theConfederationofBritishIndustry(CBI),said there remainchallenges.
âIthinkitdefnitelyfeelslikethereâsamore optimisticstarttotheyearâfromsomeofthe businessesIâvespokentohere,âshesays.
âThedualaccessgivesNorthernIrelanda realcapability.
âButaretherechallenges?Absolutely. We needtoseemoreinvestmenthere.Itâs commontootherpartsoftheUKbutwe needbetterinvestmentininfrastructure,for example.â
TheCBI representsaround170,000 businessesthroughouttheUK.
AskedabouttheCBIâsown recentchallenges âwhichincludedsettlinglegalactionbrought byitsformerdirector-general TonyDanker whowasfredlastyearfollowingallegations abouthisbehaviour,andtheorganisationalso dealingwithallegationsagainstotherstaffâshesaidithadbeenaâreallydiffcultyearâbut therewas renewedsupport.
âYeah,absolutely.Itâssobrillianttobeback doingtheworkthatwelove,andweâvehadso manybusinessesstandbyusandtodayweâve gotalmost400visitorsgatheringtocome togethertohearabouttheeconomyto refect asabusinesscommunity.
âIthinkforusasanorganisationitâsbeena reallydiffcultyear,butIthinkthethingthatâs reallyinspiringisthehardworkthatallour peoplehaveputinto reallyaddresstheissues wehadasanorganisation.â
MsNewton-Smithwasspeakingto Ulster Business aheadoftheorganisationâsannual lunchat TitanicBelfast.
OnBrexittradingchallengesfromGBto NI,whichhasseensomefrmsfacingbarriers acrosstheIrishSea,shesaid:âWiththeEU therearesomebarriersthatbusinesseshaveto getusedto.
âIthinkmostofourmembersandour businessesoftenoperateacrossdifferentparts oftheUKandIthinktheydocertainlysee thevalueofhavingaccesstothemarketin NorthernIreland.â
Oninterestrates,MsNewton-Smithsayssigns arepointingtowardsasofteningandshift, withnomembersoftheMonetaryPolicy Committeevotingforariseduringthelast BankofEnglanddecisiontokeepthebaserate at5.25%.
ââŚsoitmeansthatcertainlythenextmove willbedownratherthanupandgettingthe timingofwhenratesare reducedtozeroisa reallydiffcultone,âshesaid
Readthefullinterviewonpage14-15
88 NE WS
CBIdirectorgeneralRain Newton-Smith
Salessurge by 20% among NIâs top SMEs
NorthernIrelandâsleadingSMEshaveseensalessurging bymorethan20%alongsiderisingprofts,the Ulster Business Next200can reveal.
Formorethan30yearsthe UlsterBusiness Top100,andNext200, sponsoredbyGoSucceed,havebeenprovidingameasureofthe performanceofNorthernIrelandâsbusinesscommunity.
TheNext200showcasesNorthernIrelandâsleadingSMEs,andfollows ondirectlyfromthe Top100.
Saleshavegrownby21.6%toÂŁ11.3bnfromÂŁ9.3bnandproftability hasalsogrownby11.2%toÂŁ771.6mfromÂŁ690.4m.
Therewerestrongperformancesthroughoutthelistinghighlightedby thefactthatthetop17companieswithinthelistwouldhave reached thecriteriaforinclusioninthe2023 Top100listingbyexceedingthe ÂŁ88.8mturnovervalueofthecompanyatthefnalpositioninthe Top 100.
Fivefrms,CharlesBrandGroup,CircleKEnergy,Kingsbridge HealthcareGroup,SeatruckFerriesandSkeaEggFarmsallposted turnoversinexcessofÂŁ100mandasagroupshowedsalesgrowthof 49.7%.
TheNext200showspre-taxproftsamongfrmsmakingthisyearâslist totalÂŁ771.6mâup11.2%fromÂŁ690.4m.
This representsapre-taxproftmarginof6.8%slightlydownonprior year,whichshowedamarginof7.4%.
âWhiletheproftincreasefgurehas reducedsubstantiallyfromthe 2023listingfgureof50.5%neverthelesstheoverallperformance ofcompaniesisextremelyencouraginginwhat remainschallenging economictimes,âanalystJonathanCushley,whocompiledthelist,said.
ReadthefullNext200listonpage37-53
9 APRIL 2024 NE WS
Jonathan Cushley
ByJohnMulgrew
NorthernIrelandhaswitnesseda sizeableboostinbusinessgrowth butmustmarketitselftobringin freshinvestorsandfundingstreams,itâs beenclaimed.
InvestmentguruJustinUrquhartStewart saidhehasnâtseenbusinesschangeinother regionsintheUKaspositiveasinNorthern Ireland.
AndhesaidâNorthernIrelandhastogo outandmarketitselfandbring[investors]inâ andcannot relysolelyontraditionalfnance methods.
âUlsterhastogothroughthisand realise thatthisisnâtjustachange,butacontinuous process.Theyoungsters realisehaveto realise, theydonâtjustjoinacompany,theyhaveto bechanging.Everyonewillbeworkingfor themselvesinoneformoranother.
âIhavenâtseenachangelikethisinother areaswhichIâvebeenattalks.Therehasbeen consistentchangeoveradecade.â
Hewasspeakingto UlsterBusiness after hostingthisyearâsMLNSummit.Itbrought ahostoftopspeakersandbusinessleaders to TitanicBelfast,focusedonleadershipand managementâincludingSirAPMcCoy,Gerry HusseyandentrepreneurBobbyHealy.
âYouâvegotpeoplewhohavebeendoing itandlearningfromthemselves,âMrStewart, whohasfamilyconnectionstoBallymoneyin CoAntrim,said.
âForalotofthesmallbusinesseshere,they cansitdownandactuallysayâwecandosome ofthisâ.
â[Firms]areusingpropertechnologyand developingthingsthemselves.Theyâveactually maturedintosomethingwhichcanbealarger sizeâscalingabusiness.â
Quotes of the month
NI âmustmarket itself to attract fresh investorsâ
MrStewartisaBritishinvestmentmanager whowastheco-founderandheadof corporateDevelopmentattheinvestmentfund 7IM.
â[TheMLNevent]isnowdevelopedinto somethingwhichisshowing realgrowth,âhe said.âYoucanseemorevisitorscomingtothis.
âIwouldliketoseesomeofthenumbersin termsoftheturnoverandthemoneytheyare making.
âThenextthingtheyhavetodoisgetmore fnancein.Thereâslotofmoneywhichcanbe usedâŚtherearemoremethodsoffunding thesedayssoweneedtomakesureweare
âI feel sustainabilit y and regeneration issomething which Northern Irelandis going to graspinnext four to fveyears.â
MicheleShirlowofFoodNI speakinginthiseditionof UlsterBusiness
bringingthosein.Somorecompaniescanget localfunding,faster.â
HesaidNorthernIrelandshouldbelooking atattractinginvestorsfromelsewhereinthe UKandoutsideourshores.
âHowdotheyfunnelin?Ifthereâsa mechanism,whetheritâscrowd-fundingor whetheritâsthroughaformofelectronic exchange,tobeabletogetthemintothatso theycaninvestandexitinduecourse.
âThatâsthebitthatismissingatthe moment.Relyingupontraditionalmethods offnanceisnâtgoingtobegoodenough,so thatâsgoingtotakesomeinitiative.â
âWeâre notyetat the point where we can cut interest rates,but things are moving in the rightdirection.â
BankofEnglandgovernor AndrewBaileyspeakingas itvotedtokeepthebase rateat5.25%.
âNow that there is a degree of political certaint y on our trading arrangements itis time tofullygrasp the opportunities.â
10 NE WS
JustinUrquhart Stewart
EconomyMinisterConor Murphyspeakingabout cross-bordertrading.
CharlesBrand eyeing tenders for ÂŁ3bn power network upgrade
CivilengineeringfrmCharlesBrandsaysitâsindiscussions withNIENetworkstoplayapartindeliveringitsmajor ÂŁ3bninvestmentinthegridhereoverthenextdecade.
Itsaysitâsalsotargetingmajorpublicsectorworkandframeworks, alongwithitsprivatesectorbusiness.
Thefrm,whichcomesinatthenumberonespotinthisyearâs Ulster Business Next200,inassociationwithGoSucceed,hasseensalessoar fromÂŁ52mtoÂŁ137m,accordingtoitslatestaccountsendingMarch 2023.
Itâsalsoseenpre-taxproftshitalmostÂŁ6mduringthesameperiod.
âMygoalistoformthese relationshipsforthefuture,âmanaging director,NiallMcGill,said.
âWithNI Water,forexample,weareononeframeworkandweâve beenacceptedonanother.IwanttobuildonthatandbeoneofNI Waterâstrustdeliverypartners. Translink,also.â
HesaidCharlesBrandisalsoindiscussionswithNIENetworksahead ofitsmajorÂŁ3bninvestmentoverthenext10years.
âNIEismassiveandthatâsonewhichI reallywanttogetinto,âNiall says.
âThewholenetworkneedsupgradedtodealwiththecarbontargets wehave,theEVnetworkisprettypoorandwewanttobeinvolved inthat.RP7,whichNIENetworksis rollingout,weareverymuchin discussionswiththemandaregearingourselvesupforsomegood work.
âWearetrainingandsettingourcompanyupthatweâllbeinagood positiontobidforit.â
Readthefullinterviewonpage50-51
11 APRIL 2024 NE WS
NiallMcGillof CharlesBrand
Interest rates unchanged butcutonhorizon
TheBankofEnglandhasvotedto keepinterestratesunchangedbut there remainstrongsignsofacuton thehorizon.
The bank âs Monetary Policy Committee (M PC) voted by a majority of eight to one to maintain the rate at5. 25%, ke eping the cost of borrow ings steady
Bank governor Andrew Bailey saidthe economy is ânot yet at the pointâ where rates can be lowered, but thingsare âmoving in the right dire ctionâ.
For theďŹrs t time since September 2021, noone on the nine- person de cision -making body that sets interest rates voted for an increase
Whilea vote to ke ep rates steady had been widely ex pec ted, in asurprise move two member s who last month voted to ke ep hiking rates chang ed their minds.
âI n re cent we ek s weâve seen further encouragingsigns that inďŹation is coming down Weâve held rates again to day at5. 25%
becaus e we ne ed to be sure that inďŹation will fall back to our 2% target and stay there,â Mr Bailey said
âWeâre not yet at the point where we can cut interest rates,butthingsare moving in the right dire ction.â
Jonathan Haskell and Catherine Mannhad in February âs me etingargued that rates should rise to 5.5% , but on Thur sday they joined the majority to vote for 5. 25%.
The Of ďŹce for National St atis tic s (O NS ) announced last month that Consumer Prices Index (CPI ) inďŹation fell to3.4% in February, down from 4% in Januar y and the lowest level since September 2021, thanks to the cost of fo od and eating outrising more slow ly
The data from show s annual fo od price inďŹation fell to it s lowest level for two year s, at 5% in February However, the 3.4% rate is still ab ove the Bank âs target of 2%
Nathan Emer son, chief executive of es tate agentsâ profes sional bod y Prop er ty mark, said :
âT heBankof England is sued an optimistic projec tion last month that inďŹation could fall back down to pre Covid-19 levels by this summer
âT here are signs that interest rates are not deterring people from buying theirďŹrs t home.
âPropert ymarkâs ow n Housing Insight Report found that therehas beena 120% increase in thenumber of potential buyers registered so now that optimism and momentumis gaining in the market, we now ne ed to see interest rates start to fall so that buyersâ af fordability can further increase, op ening up the market and providing more options for thos e looking to move home.â
Meanwhile, a member of the MPC, Swati Dhingra,voted to cut rates to 5% , repeating her vote from the last sitting.
InďŹation, measured by the Consumer Prices Index, has been very high in the last two year s fora series ofreas ons including Russiaâs invasion of Ukraine.
12 NE WS
Moy Park chiefleaves top role âto pursueotheropportunitiesâ
Thehead of Nort hern Ireland âs large st co mpany ha s left hi s role at the helm, Ulster Business can reveal.
Chris Kirke has left his post aspresident of poultr y giant Moy Park, which heheld for the last six year s.
âFollowing a successfulsix year s withthe business where he demons trated out standing leader ship, Chris Kirke has chosen to leave the company to pursue other opportunities,â a spokesperson said
âWe thank Chris for his exceptional contribution, dedicated service and commitment to Moy Parkâs success and we wish him ever y success on his next endeavour.â
Moy Park forms part of Pilgrimâs Europe, which is headed by IvanSiqueira
Mr Kirke was named president of Moy Park in May of 2018, bringing with him more than
26 year s of foodsector experience across the UK and US
He was formerly chief of Greencore US, responsible for driving grow th across a business with some 6,0 00 staff in 14 locations.
Moy Park posted recent sales of more than ÂŁ1.8 bn rejoined the top spot as Northern Irelandâs bigges t business
The poultr y processor saw pre-ta x proďŹts reduce to more than a thirdof a previous recent high of ÂŁ82m in 2020, falling to ÂŁ25.6m.
TheďŹrm, which employs almost 9,30 0â the majority of which are based in the UK and Irelandâ saw overallturnover rising byjus t over ÂŁ300 m in the space of a year, according to accounts for Moy Park Limited.
Moy Park saidit s overall performance during the yearwas impac ted by âhigh cost inďŹation which af fected the whole of the poultr y industryâ.
But it saidthat âunrelenting focusâ on cost s, cus tomer relationships anda âcultureof cons tant innovationâ mitigated some of those challenges.
âM oy Park remained proďŹtable in 2022 despitea year of unprecedented cost increases in feed, utilities, and labour,â it said
Moy Parkheldonto the top spot as Northern Irelandâs bigges tďŹrm in the Ulster Business Top 10 0, in association with KPMG, for nine year s in a row, before being knocked of f by W& R Barnet t.
But withit s lates tďŹlings of ÂŁ1.8 bn Moy Park has regained it s title asour larges t business, ranked by sales
It s headcount reduced slightly over the last year, falling from 9,657 to 9, 29 6.
âM oy Parkâs trading models and cus tomer negotiations, together withthe recovery of the foodservice segment partially of fset some of these cost s,â it said in it s lates t accounts
13 APRIL 2024 NE WS
FormerMoyPark presidentChrisKirke
âDual-market access gives Northern Ireland a realcapabilityâ
CBIdirector-general RainNewton-Smith sits downwith JohnMulgrew totalkaboutthe economy,howNIhasimproved,theâunique positionâwehavewithdual-marketaccess, howtheorganisationisemergingfromitsown challengesandwhatchallengesbusinessstillfaces
Acursoryglancethroughthesharp, angularglassofthetopfoorof TitanicBelfastonaparticularly brightsunnydayandRainNewton-Smith andIcanobservethechangeinthecity frsthand.
Thereareswathesoftouristsduetovisitthe attraction,cargoshipsandnewoffcestothe left,ahugecruiseshipinthedistance,aworldleadingflmstudio,conferencecentre,movie set,sciencepark,heavyindustryandtheedges ofHarland& Wolffâsfamouscranespokingtheir headsout.
âIthinkitdefnitelyfeelslikethereâsamore optimisticstarttotheyearâfromsomeofthe businessesIâvespokentohere,âthedirectorgeneraloftheCBItellsme.
MsNewton-SmithsaysNorthernIreland companiesnowhavefreshoptimismthanksto aâfootholdanduniquepositionâwithdualmarketaccesstothe restoftheUKandEU.
However,shealsosaysthere remainchallenges. âThedualaccessgivesNorthernIrelanda real capability,âshesays.âAsawholetherearestill challengeswhicharesharedacrosstheUKâwhetherthatâsconstrainedpublicfnances,and thathasimplicationsinNIaswell.
âButaretherechallenges?Absolutely. We needtoseemoreinvestmenthere.Itâscommon tootherpartsoftheUKbutweneedbetter investmentininfrastructure,forexample.â
TheCBI representsaround170,000businesses throughouttheUK.
AskedabouttheCBIâsown recentchallenges âwhichincludedsettlinglegalactionbrought byitsformerdirector-general TonyDanker whowasfredlastyearfollowingallegations abouthisbehaviour,andtheorganisationalso dealingwithallegationsagainstotherstaffâshesaidithadbeenaâreallydiffcultyearâbut therewas renewedsupport.
âYeah,absolutely.Itâssobrillianttobeback doingtheworkthatwelove,andweâvehadso manybusinessesstandbyusandtodayweâve gotalmost400visitorsgatheringtocome togethertohearabouttheeconomyto refect asabusinesscommunity.
âIthinkforusasanorganisationitâsbeena reallydiffcultyear,butIthinkthethingthatâs reallyinspiringisthehardworkthatallour peoplehaveputinto reallyaddresstheissues wehadasanorganisation.â
MsNewton-Smithwasspeakingto Ulster
Business aheadoftheorganisationâsannual lunchat TitanicBelfast.
OnBrexittradingchallengesfromGBtoNI, whichhasseensomefrmsfacingbarriers acrosstheIrishSea,shesaid:âWiththeEU therearesomebarriersthatbusinesseshaveto getusedto.
âIthinkmostofourmembersandour businessesoftenoperateacrossdifferentparts
14 IN FOC US
oftheUKandIthinktheydocertainlysee thevalueofhavingaccesstothemarketin NorthernIreland.â
Oninterestrates,MsNewton-Smithsayssigns arepointingtowardsasofteningandshift,with nomembersoftheMonetaryPolicyCommittee votingforariseduringthelastBankofEngland decisiontokeepthebaserateat5.25%.
ââŚsoitmeansthatcertainlythenextmove
willbedownratherthanupandgettingthe timingofwhenratesare reducedtozeroisa reallydiffcultone,âshesaid.
AndintermsofwhatshebelievesanewlyrestoredExecutiveshouldfocuson,shesaid:
âIthinkthatitâsafewthings,one,just makingsurewehaveathinkabouttheoverall landscapeforinvestmentand reallysetout thepitchforNorthernIrelandâŚitâsabsolutely
CBIdirector-general RainNewton-Smith
thinkingaboutskillsandinvestinginyoung peopleâŚandthinkingaboutinfrastructureand gettingonwithdecisions.â
Speakingabouttheeconomyingeneral,she saidwhilethereisoptimismâthereâsasense thatwhiletherearestill realchallengesfor business,growthisobviouslythatsortofholy grailthatbusinessesarestill reallyfocusedon butIanditâsstillIthinkoneofthechallenges defnitelyisaroundfndingpeopletogrow theirbusinessandtoinvestâ.
âButIthinkdespitethat,Ithinkthereisthereâs asenseofoptimismthatIpickedupherein Belfastparticularlythinkingaboutthedual accessthatbusinesseshavehereand,and almosthavingafootholdaspartoftheUnited KingdombutalsoafootholdintoEuropeputs NorthernIrelandinainauniqueposition.
âIthinkundoubtedlytherearestillchallenges andIthinkbusinesses,IâmsureinNorthern Ireland,butalsopartsoftheUKwillsay, youknow,therearestillmoreadministrative burdensthanwherewewerepreviouslyâand thatâssomethingthatbusinesseshavetoadjust to.
âFromprevioustimesIâvebeenhereâŚwith agovernmentbackinplaceitgivesasense ofoptimismthatsomeofthedecisionsthat havemaybebeenoniceforawhilecannow [restart]andpeoplecancrackonandIthink thatgivesalifttobusinesses.â
Lookingtowardschallenges,shesaidfrms hereandacrosstheUKarecontinuingto struggletofndtherightpeopleandaccessto atalentbasetogrowtheirbusinesses.
ButshesaysBelfastandNorthernIrelandâs progresshasbeenânoticeableâinthelastfew years.
âIthinktome,itabsolutelyisnoticeableandI thinkeverytimeIcomebacktoBelfast,itfeels liketherearenew restaurants,newactivities andareasthathavebeen redeveloped,soit feelsveryvibrant.â â
15 APRIL 2024 IN FOC US
Accessingalternativetalentpools canhelpcrackthecodeonskills
ByJohnMoore,managingdirector,HaysNI
Everyorganisationhashadtogetcreativewhenitcomesto attractingand retainingtalentoverthepastfewyears.
Over90%ofemployerscovering a rangeofindustrysectorstoldus inHaysannualSalarySurveythattheyfacedskillsshortageslastyear Itâsa hugechallenge,butonepositiveconsequenceofthetightlabour markethasbeenanincreasedwillingnessbythosewhoare hiringtolook beyondtheirtraditionaltalentpools.
I wasintriguedby a storythatemerged a fewweeksagoabout a new recruitmentcampaignforGCHQ â theUKâs governmentintelligenceand securityagency â whichisdoingjustthat.
FarfromthespynovelsbythelikesofJohnleCarrĂŠandIanFleming, where brightyoungpeopleattopuniversitieswouldget a taponthe shouldertoenter a careerinthesecretservices,theagencyinsteadwent digitalandturnedtoLinkedInto recruititsnextgenerationofproblem solvers.
It released a newvisualpuzzlewith13cluesofletterstobebrought togethertospelloutanencryptedmessage. A nodtoitscodebreaking past,thepuzzlewasdesignedtoappealtopeoplewithstronglateral thinkingskills,butwhowouldnât haveconsidered a careerinintelligence, securityorcyberbefore.
Theysaidtheywantedto recruitnewpeoplefromdifferentbackgrounds, withdifferentskillsandexperiences,differentinsightsanddifferent knowledgetohelptackleitstoughestchallenges.
Theideathatattracting a diverserangeoftalentwillbeneftyour organisationisnot a newone,butweare seeingmore organisations nowpreparedtolookbeyondthetypicalCVheadlineinfo â educational attainment,specifcqualifcationsandtechnicalexpertise â andinstead hiringforpotential.
Nearlythree-quartersofemployerssurveyedinHaysâannualsalarysurvey (73%)nowbelieveanemployeeâs willingnesstolearn ismore important thantheirexistingskillset,withnearlyhalf(45%)notconsidering a degreetobeanimportant requirement.
Whileindustrytenure andqualifcationsmaylookimpressiveonpaper, theycomeat a costanddonât guaranteethebestftfor a role.Butcore skills â suchasempathyandproblemsolving â willonlygrowinvalueas AItoolsandautomationshakeuptheworkplace,andmore employers looktobuildagileteamswhocanweatherchange.
Thetechnicalskillsthatanorganisationneedscanchangeeveryyear âsometimesevenfaster â sothemostimportantskill a newemployeecan
demonstrateis a willingnessandabilitytolearn newthings.
Theexample I usedabove,askingprospectivecandidatestosolve a quirkypuzzletoenteryour recruitmentprocess,was a cleverwayto piquetheinterestofpeoplewith a problem-solvingability, tellingthe employersomethingaboutthepoolofpeoplebefore theyevenlooked attheirqualifcations.
Aswelooktohire fromthenewgenerationofprofessionals,wemust remembertoothattheyhavefacedunprecedentedchallenges.The pandemic,followedbyaneconomyin recession,causedsignifcant disruptiontoboththeireducationandaccesstothelabourmarket, impactingtheirconfdence,and resultinginchangedmotivationsand expectationsoftheworldofwork.
However, employerswillingtotapintothetransformationalbenefts ofGen Z andgraduatetalenthave a lottogain;proactivelyengaging withthiscohortisvitaltoensuringworkforcecontinuityanddriving innovation.
Onthecandidateside, researchforHaysâSalaryGuidesuggeststhatan engagingandsupportiveteamculture isanimportantfactorinchoosing a jobfor62%ofpeopleand38%say a clearcommitmenttodiversity, equalityandinclusionisessential â sotheonusisonorganisationsto demonstratetheirwillingnesstoinvestinindividuals.
Offeringapprenticeships,internshipsandgraduateprogrammesare allgoodstartingpoints,butprovidingmentors,enablingaccessand engagementopportunities,andbuildingyourownbespokedevelopment pathwaysare alsoessentialtocrackingthecodewhenitcomesto attractingfreshtalent. â
16 RECRUI TM EN T
BGF: a growing presence inNIand aÂŁ100m ambition
BGF isoneofthelargestandmostexperiencedgrowth capitalinvestorsintheUKandIreland,withagrowing portfolioinNorthernIreland.BGFâs ChrisNixon speaksto UlsterBusiness abouttheresilienceofNI entrepreneurs,theevolvingequityfundinglandscape here,BGFâsambitiontoreachÂŁ100minvestedinNI inthenextyear,andwhatsetsBGFapartfromother investorsinthemarket
BGFiscontinuingtoexpand,grow anddevelopkey relationshipswith someofNorthernIrelandâsleading SMEsandburgeoningbusinesses.
Thegrowthcapitalinvestorisaimingto reach morethanÂŁ100moffundinginNorthern Irelandinthenextyearandtocontinueits strongtrack recordofsuccessfulexits.
ChrisNixon,wholeadsBGFâsinvestment effortsinNI,says:âWeopenedouroffcein Belfastin2015.Ittookusawhiletobuildour presencehereâtherewasalotofshoeleather expendedintheearlyyears. Weâvegradually builtastrong reputationandhavegainedtrust inthemarketandhopefullya reputationasa highquality,supportiveinvestmentpartner.
âTodate,wehaveinvestedineightcompanies inNorthernIrelandtotallingaroundÂŁ75m deployed,supportingthousandsoflocaljobs. WeâreproudofwhatweâveachievedinNIso far,butwewanttodomore.â
Inthelast18monthsBGFhasalsosuccessfully
exitedtwoportfoliocompaniesâwaste managementcompanyRiverRidgeandkitchen furnituremanufacturerUformâbothdelivering âstrongoutcomesâforallshareholders.
âDemonstratingatrack recordof returnsisa fundamentalfocusforusandultimatelythe litmustestofaneffectiveinvestmentfund. Theseexitsalone representaroundÂŁ150mof valueforstakeholdersandhavehelpedtoset thosebusinessesupforthenextphaseoftheir growthjourney,âChrissays.
BasedinBelfast,withanoffceinUrbanHQ onUpperQueenStreet,Chrisisactiveinthe marketalongsidethewiderBGFteamâled byPaddyGraham,headofBGFinNorthern IrelandandScotlandâandfellowinvestors GemmaHamiltonandJohnDevine.
BGFhastodateinvestedÂŁ4bnincloseto600 growingSMEsfromits15 regionaloffces âmakingitthemostactivegrowthcapital investorintheUK&Ireland.
Fundingisusedtosupportgrowthinamyriad
ofways,includingacquisitionfunding,capital expenditure,salesandmarketingandworking capital,inadditiontode-riskingexisting shareholdersandhelpingwithsuccession planning.
Asaminoritypartner,BGFprioritisesbuilding strong,long-lasting relationshipswithowners andmanagementteams.âWeâreexclusivelya minorityinvestorsoweâreverypeoplefocused andour relationshipwithmanagementteams isparamount,âChrissays.âAboveallelse theremustbethatmutualtrustandalignment withthepeopleweârebacking.Aroundhalf ofourportfoliocompaniesarefamilyowned, soweâgetâfamilybusinessesandthedynamic thatgoeswiththem.
18 COVE R STORY
BGFâsJohnDevine,ChrisNixon, GemmaHamiltonandPaddyGraham
âItâsaverypersonalthingforacompanyto bringaninvestoronboardandcommittingto workwiththemlongterm.Theyarelettingus intotheirworld. We areveryconsciousofthat.â
BGFworkswithawiderangeofcompanies acrossdifferentsectorsoftheeconomy.âWe seeourselvesasmulti-sectorspecialists,â
Chrissays.BGFâsportfolioinNorthernIreland spanswindowcoveringmanufacturerMzuriGroup,constructionbusinessClarkeFacades, independentcoffeeshopchainBoband Berts,housebuilderBraidwater,alongwith softwarefrmAuditComplyandcarboncapture technologydeveloperNuada.
Sectorswhicharecurrentlywitnessingasurge
ininterestincludetechnology,healthcareand thosedevelopingandembracingartifcial intelligence(AI),butChrissaysothermore traditionalindustries,suchasmanufacturing, engineering,andservice-basedbusinesses remainextremelystrongandattractiveinNI.
Forexample,oneofBGFâsportfolio companies,ClarkeFacadesfromBallymena, has recentlyseenproftsgrowbymore than50%inthefrst12monthspostBGF investment.
âIntermsofthestageofbusinesseswhich weareinvestingin,ourbreadandbutteris growthcapitalcompaniesâbusinesseswhich aremakingaproft,generatingcash,but
withstillsomewaytogoontheirscaling journey,âChrissays.
âHowever,weârefexibleandinvestin everythingfromearly-stage,cleantech businesses,suchasNuada,tomoremature manufacturingbusinesseswithalready strongmarketpositions.â
ChrisjoinedBGFin2016andisinvolved inallaspectsoftheinvestmentprocess, includingidentifyingandexecuting investments,throughtoworkingwith managementteamsofinvesteecompanies, post-investment.
BGFisâdifferentbydesignâ,according>
19 APRIL 2024 COVE R STORY
toChris,includingbeingbothaminorityand long-terminvestor.
âThatâsourmantra.Whatdowemeanby that?âChrissays.âFirstly,beingexclusivelya minority, relationshipfocusedinvestorisinour DNA. We understandhowtobeaneffective minoritypartnerworkingalongsideteams inacollaborative,additivefashion. We back ambitiousteamstodelivertheirplan,butassist themalongwithwaywithstrategicinput, leveragingtheexperiencegainedacrossour widerUKportfolioandglobalnetwork.â
BGFhasacentral ValueCreation Teamthat supportsitsportfolioinarangeofoperational andstrategicareas,includingESG,sales andmarketing,HR,fnance,talentadvisory, technology roadmappingandexit readiness preparation.
ButforBGFitâsnotjustaboutmakingan investmentupfrontâasanevergreenfund, follow-onfundingisanimportantpartof itsoffering,whereaportfoliocompanycan receivefurtherinvestmentwhen requiredto takeadvantageofopportunitiesthatmayarise postinitialBGFinvestment.
âIfsomethingcomesalongtwoyearsafter ourinvestment,likeanacquisitionopportunity âthatâssomethingnotmanyotherfunds areabletodo,âChrissays.âApproximately 30%oftheinvestmentsBGFmakestoday isintocompanieswhereweârealreadya shareholder.â
Thisinherentfexibilityasanevergreenfund extendstobeingabletosupportcompanies throughchallengingmarketenvironments, suchasthoseexperiencedin recentyears duetoCovid.âWeâreabletoinvestthrough thecyclesandturbulenttimesinthemarket becausewearenâtconstrainedbyasettime frameâthatâs reallyimportant,âChrissays.
ChrisbelievesNorthernIrelandasa region isprimedforaâhugeopportunityâinthe monthsandyearsaheadgiventhesettling economy,theadvantageouspositionafforded bythe WindsorFramework,andalsoa growingawarenessofequityfunding.
âOverall,theequitymarketinNIhastaken longertomaturethanperhapsotherpartsof theUK.Untilthepastfvetosixyears,there wasnâtmuchofalocalinvestmentecosystem.
Thathaschangedâthereisanincreasing fowofequityfundinginNI. We onlysee thisasapositivethingforthelocaleconomy andareproudtobeawell-establishedplayer here.â
Chrissayswhileastablepoliticalenvironment doeshelp,NorthernIrelandâsentrepreneurs havebeenâgettingonwithbusinessâ regardlessofwhatishappeningatStormont. âThereisanadmirable resilienceandhumility inNorthernIrelandborneoutofourhistory. ButIthinkthenarrativeischangingand morecompaniesarenowlookingforward ratherthanbackwardsandstartingto really demonstrateambitionnotjustinNIbut scalingbeyondhere.â
AsBGFaimstomatchthatambitionby hittingtheÂŁ100minvestmentmarkhereover thenext12-18months,Chrisisconfdentit isinastrongpositiontosupport.
âWeâveneverbeenbusierinNorthernIreland andarehopefulthiswilltranslatetosome furtherminoritypartnershipsin2024. Weâve goodmomentumandweârehereforthe longtermâwatchthisspace.â â
20 COVE R STORY
A renewedsense ofurgency requiredtomeetour renewable energygoals
AlanCampbell,chief executiveofNorthern Irelandâsgridoperator, SONI (SystemOperator forNorthernIreland), looksaheadtoour ambitiousrenewable targets,thefutureof generationandthe transitiontocleanenergy
NorthernIrelandhashistorically beenaleadinglightwhenitcomes totheenergytransition.
We metour40% renewableenergytarget ayearaheadofschedulein2019andour powersystemwasamongtheďŹrstintheworld toachievethemilestoneofbeingableto handle75% renewablegenerationatanyone momentintime.
Thenew2030targetof80%setbythe ClimateChange(NorthernIreland)Act2022 isunprecedentedinboththescaleand complexityofthechange requiredtoour energysystem.Fromtheperspectiveofthe powersystem,itisthebiggestchangetothe gridandhowitisoperatedsinceelectriďŹcation itself.
Withlessthansixyearsuntil2030,nowisthe timetoinjecta renewedsenseofurgencyinto thiscollectiveambition.The restorationof theNorthernIrelandExecutiveandAssembly offersanopportunityto refocusourmindson removingthebarrierswhichriskusfallingshort andproactivelyidentifyingopportunitiesto accelerateprogress.
NickWinserCBE,theElectricityNetworkâs CommissionerforGBpresentingatthe SONINIChamberEnergyForuminBelfast
Presently, renewablesaccountfor approximately50%ofourgeneration. Achievingthe80%markisbothcomplexand signiďŹcantinscale.Itnecessitatesunlocking thefullpotentialofwind,solarandother greentechnologieswhilesimultaneously modernisingandexpandingourgrid infrastructureatanacceleratedpace.Thistask mustbeexecutedwhileensuringastableand securesupplyofelectricitytoNorthernIrish consumers, renderingthepathtosuccesseven moreintricate.
Asourpopulationgrowsandoureconomy expands,thedemandforelectricityispoised tosurgeoverthecomingyearsanddecades ashomes,farmsandbusinessesswitchfrom oilandgastocleanermodesofheatingand transport.However,thispresentssigniďŹcant investmentopportunitiesforindustriestostep upandgeneratethelevelsofgreenelectricity requisiteforourfuture.
Astheurgencyoftheclimatecrisisloomslarge andournetzerocommitmentsbeckon,the transitiontoaclean, renewableenergyfuture hastransformedfromagradualshifttoa
sprinttowardsacriticalďŹnishline.
AsNorthernIrelandâsgridoperator,weare keenlyawareoftheformidablechallenge athand.Accordingly,weareinvestingin gridupgrades,investinginthetoolsand technologythatallowustooperateaworld classyetincreasinglycomplexpowersystem andelectricitymarket,fosteringcollaboration withstakeholders,andadvocatingforpolicies thatexpeditethetransition.However,therace towardsnetzeroisonethatcanonlybewon throughcollaborativeeffort.
Inworkingtowardsourcollectivegoals,itis importantto recognisethemultifacetednature ofourenergylandscapeandtheshort-term challengesthatthispresents.Renewable energysourcessuchaswindandsolarare inherentlyintermittent,meaningtheygenerate electricitybasedonweatherconditions. To ensureastableand reliableenergysupply, weneed robustgridinfrastructurecapableof balancingsupplyanddemandin real-time.This necessitatesinvestmentsingridmodernisation, smartgridtechnologies,andenergystorage solutionslikebatteriesandpumpedhydro.
22 ENERGY
Butinfacingthese challenges,weknowwhat needs tobedone
Inour recent roadmaptitledâShapingOur ElectricityFutureâ,SONIoutlinedthepathways essentialforachievingthistransformation.Our draftoperational roadmapsand Transmission DevelopmentPlanoutlinetheinfrastructure neededtomeetour2030targetsandaim forustobeabletomanageapowersystem fundamentallybasedonelectricitygeneration whichisvariable.
Achievingour renewableenergytargets requiresacoordinatedeffortacrossmultiple fronts.Itdemandscollaborationbetween government,industry, regulatorsandlocal communities.It requiresinnovativefnancing mechanismstoattractinvestmentin renewable projectsandovercomebarrierstodeployment. Itcallsforpublicawarenesscampaignsto educateconsumersaboutthebeneftsof
renewableenergyandencourageenergy conservationpractices.
Thechallengewefaceisaraceagainst timeandweneedtoexplorealloptionsfor changeifwearegoingtocatchup.While commendableprogresshasbeenmade,the timehascometoaccelerateourpaceacross everyfacetofthisrace.
AsNorthernIrelandâsgridoperator,thatwas ourmessagetotheNorthernIrelandAffairs Committeeonits recentvisittoSONIaspartof aninquiryinto renewableenergyandnetzero targetsinNorthernIreland.
Ashifttowardsaplan-ledapproachto developingthegrid,timely reformofNorthern Irelandâsplanningsystemandanewapproach tocommunitybeneftandlandowner compensationarepotentialpolicyinnovations whichcouldacceleratedelivery.
Theimplementationofthesesolutionswill undoubtedlytestusall.Still,theprospect ofpositioningNorthernIrelandasaglobal leaderindecarbonisation,whileconcurrently poweringitselfsafelyandsecurely,isan aspirationworthpursuing.
Thisapproach,coupledwitha renewed urgencyforcollaborationamongall stakeholders,isthesolepathwaytomeeting theambitiousyetnecessarytargetssetbefore us.Everybusinessandeveryindividualhasa roletoplay,whetheritinvolvestheconsidered
useofelectricityduringpeakdemand periodsorembracingthenecessityofnew infrastructure.
AsNorthernIrelandâsgridoperator,SONIisup tothechallengeofchangeandweâreexploring alloptionsastohowwecancontributetothis accelerationeffort.
Andweârenotaloneâeverycountryaround theworldseekingtodecarboniseitssociety andeconomyisonthesamejourney. We shouldbeagileandopen-mindedinlooking elsewheretoseewhatwecanlearnandwhat couldbe replicatedhereinNorthernIreland.
Thatâswhywe recentlyhostedGreatBritainâs ElectricityNetworksCommissioner,Nick WinserCBE,inNorthernIrelandtodiscuss hisindependent,wide-ranging reporton measuresthatcouldbetakentoacceleratethe developmentofthegrid.
Inrisingtothemoment,itisalsovitalthat we redoubleoureffortswithconsumersand localcommunitiesand re-makethecaseasto whythisaccelerationisneededandhowthis once-in-a-generationtransitionwilldelivera cleaner,cheaper,moresecureenergyfuturefor everyoneinNorthernIreland.
InNorthernIreland,weworkbestwhenwe workasawholesystem.Thatâswhyweneed torisetothischallengetogetherandintensify thecollaborationthatledtoNorthernIreland oncebeingaworldleader.Thetimeisnow. â
23 APRIL 2024 ENERGY
TheNorthernIrelandAffairsCommittee(NIAC)visitedtheheadquartersofSONI.PicturedareBobStewartMP,Claire HannaMP,SirRobertGoodwillMP,AlanCampbell,chiefexecutive,SONI,SirRobertBucklandMP,CarlaLockhartMP andDerekHynes,managingdirector,NIENetworks
AlanCampbell,chiefexecutiveofSONIpresentingtothe NorthernIrelandAffairsCommittee(NIAC)
RestaurantBlueChicagototransform formersouthBelfastbankbuilding
ByJohnMulgrew
Aformercinematurnedbank buildinginsouthBelfastis beingtransformingintoanew American-stylediner,itcanbe revealed.
NorthernIrelandchainBlueChicagoisopening anew restaurantattheformerBankofIreland building,whichwasoncethesiteofthe Curzoncinema,ontheOrmeauRoad.
Andmorethan25fullandpart-timejobsare settobecreatedwiththenewhospitalityspot. Itâstakingtwoofthethreeunitsattheformer bankbuilding.
BlueChicagogroup,whichisownedbyKevin MeahandOliviaHall,hastwospotshere, includingoneinDundonaldandasecondin Bangor.
Itâsnowawaitingachangeofuseplanning applicationâwhichwassubmittedalmost ayearagobeforeBlueChicagosignedup totakeachunkofthebuildingâtogetthe greenlightbeforeitcanstartft-outonthe restaurant,withtheaimofopeningintimefor summer.
âItâsbringinganicefamily restauranttothe areaandcreatingsomejobsâitcanbediffcult tofnd restaurantswhichappealtochildren andeveryoneelse,âaspokesmansaid.
âThe restaurantisgoingtobeverysimilarto ourothers restaurants.
âItâsbeen refnedovertheyearsandweare famousfordishes,suchasourchickenstacks. Whatwearetryingtosoisbringsomething abittimelessâbringingfamiliestogetherfor celebrations.Itâssomethingforeveryone.â
Thenew restaurantwillboastaround100
seats,includingprivatebooths,witha âChicagofeelâincludinginspirationfromblues andjazzbars.
BlueChicagoistakingaround3,300sqft oftheformerBankofIrelandbuilding,with theentirefootprintofthegroundfoorunits spreadover4,700sqft.
The restaurantwillbeslightlysmallerthan thefrmâsotherspotsinabidtobeâmore dynamicâ.
Thefrmsaysthenew restaurantwillcreate around10-15full-timejobs,withthesame numberofpart-time roles.
âWeare readytogoandwanttobeopen beforeJunewith regardstoconcerts,the schoolsbreakingupandwiththeEurosonâwewanttobeopenforthatsummervibe,âa spokesmansaid.
âWearetalkingaroundasixtoeightweek ft-outandarelookingatfrstweekinJune,if notmidMay.â
Intermsofthemenu,thefrmsaysâitâsgoing tobethefavouritesâbuttherewillbemore ofafocusonthebarandcocktailofferingsto âlendmoretothenighttimeatmosphereâin theOrmeauRoadarea.
BlueChicagoâsDundonaldandBangor locationshaveextensiveAmerican-inspired menuswithawiderangeoffood.
Thatincludesburgers,sizzlingmeatplatters, pizzas,steaksanditschickenstackâwhich includesfriedchickenflletssittingonabed ofchampwithbrandyandpeppercornsauce, toppedwithtobaccoonions.
Italsooffersachildrenâsmenualongsideahost ofdessertsandicecreamsundaes. â
24 NE WS
BlueChicagoin Dundonald
Powerfulsavingsforbusinesseswith PowerNIâsLEDLightingSolutions
Withsustainabilityatthetopof theagendaforbusinessesin NorthernIreland,manylocal companiesarechoosingenergyeffciency andinvestmentintechnologytohelptheir greencredentials.
PowerNIoffersbusinessesthechanceto upgradetomoreeffcientlightingthrough theenergysupplierâsLightingSolutions programme.Commercialcustomerscan retroft anypremiseswithnewLEDlighting,spreading thecostoftheinstallationovertheirelectricity billsinsteadofpayingforitupfront,makingit amuchmoreaffordableoptionforbusinesses. Notonlydoestheschemehelpbusinesses reducetheircarbonfootprint,buttheycan alsosaveontheirelectricitybillsandlighting maintenancecosts,withmany reportinga savingofupto70%.
Thelightingupgradesareprojectmanaged byPowerNIfromtheinitiallightingaudit, orderingtheLEDequipment,associated installationand recyclingoftheoldfttings. Thecostoftheupgradeisspreadacrossa numberofyears,dependingontheagreed contract,managedbyyourdedicatedPowerNI Keyaccountmanager.Thismeanstheupgrade isfullyfnancedthroughyourelectricitybills ratherthanhavingtopayupfrontcapex.
Asapartofthelightingupgradeprocess, PowerNIwillarrangeandcarryoutanenergy consumptionaudittoassessthecurrentlight levelsofyourpremises,togetafullpicture oftheamountofenergybeingused.This informationwillenabletheexpertPowerNI lightingteamtoprepareanupgradedLED lightingdesignandcalculatethepredicted savings.
Allproposedlighting redesignsareinlinewith theCharteredInstitutionofBuildingServices Engineersguidelines(CIBSE),andenergy effciency,lightingdistributionandquality thresholdsareallmettoensurethebest possibleuserexperience.PowerNIwillalso checkcurrentlightlevelstoseeifitcomplies
withBS5266-1:2016,thecodeofpracticefor theemergencylightingofpremises.
Manybusinesseshavelightsonalldayand night,which resultsinhigherelectricitybills, sothenewmodernLEDlightingisnotonly cheaperthantraditionalbulbsandfrstand secondgenerationLEDfttings,butitwill lastupto20-25timeslonger.Upgradingto modernLEDlightinghelpsbusinessesmake long-termsavingsandcutdownonthecostof replacementbulbsandinstallationcosts.
ModernLEDsarethemostenergy-effcient lightingsolutioncurrentlyonthemarketfor businesses.Lessenergyisneededtolightan LEDbulb,substantiallyloweringenergybills forbusinessesandas90%ofelectricitycan betransformedintolight,lessenergygoesto waste.Incomparison,traditionalincandescent lightbulbsonlyuse10-15%ofthepower effcientlyandthe restiswastedasheat.
Finally,LEDlightingalsoimprovesvisibility insideandoutsidetheworkplace,making
businessesamoreattractiveandsafer environmentforbothcustomersand employees.
PowerNI,partofEnergiaGroup,hascarried outLEDlightingupgradesforlocalcommercial premisesalongsideitssistercompany,Energia, including TyroneGAAâs HealyPark,SuperValu Edgeworthstown,MurphyGroup,Beacon SouthQuarterand WexfordCreditUnion.
Most recently,PowerNIâslightingupgradeat HealyPark,Omagh, resultedinthestadium reducingenergyconsumptionbyover60%. Withtheirannualconsumptionnowdecreased byover24,000kWh,around5.8tonnesof carbonwillbesavedannually.
Forbusinesseslookingforanopportunityto becomemoresustainableandsavemoneyon bills,thenPowerNILightingSolutionsisthe perfectsolution. â
To fndoutmoreinformationaboutPowerNIâs LEDLightingSolutions,visitpowerni.co.uk/ lightingsolutionsoremaillighting@powerni. co.uk
26 LIGH TI NG
PowerNIâskeyaccountmanager,JohnEdgar,ispicturedwith TyroneGAAtreasurer,NiallMcKennafollowingits PowerNILEDLightingSolutionsupgradeatOâNeillsHealyParkinOmagh
Elevatingleadersto navigatebusinesssuccess
Queenâs UniversityBelfastâs MasterofBusinessAdministration(MBA)iscreating thebusinessleadersofthefuture, focusingonexperientiallearningandallowingsome ofourbeststudentsandmanagersaccessto a ÂŁ30mfacilityatQueenâs Business School â whichsitsalongside a listedred-brickRiddelHall,providinganenhanced socialandeducationalexperience
Unlockingleadershippotentialand preparingstudentsfortopsenior rolesacrosstheworldofenterprise isattheheartofQueenâs University Belfastâs leadingbusinessprogramme.
âWe are lookingforleaderswhoare abletosee newpossibilitiesandnewwaysofdrivingtheir organisationforward,âDrMartinKelly, Queenâs MBAprogrammedirectorsays.
Theuniversity â whichispartoftheprestigious RussellGroup â hasbeendevelopingand nurturingleadingbusinesstalentwithits Queenâs MBAprogrammeformanyyears.
âItâs pivotalforusatQueenâsâ aiding a transformationaljourneythatunlocks leadershippotential,preparesstudentsfor seniorandstrategic roles,andaccelerates businessgrowth,âMartinsays.
âThatisparticularlyimportantwithinthe more complexglobalbusinessenvironment thatwelivein â withmajorchallengesaround sustainability, technologydisruptionandsocial innovation.â
Martinmaintainsitâs aboutdevelopingmindsets andcreatingfuture leaderstotakeNorthern Irelandâs burgeoningprivatesectorforward.
âWe area global,world-classuniversity âranked85thintheworldforimpact(The Times HigherEducation WorldUniversityRankings 2023) â andoneof24world-class research-led universities.Queenâs BusinessSchoolisallabout educationandexplorationforthebeneftof businessandsociety
âTheMBAprogrammesitswithourmission
andourpositionas a globalandworldwide brand,âMartinsays.
Recently recognisedbyCorporateKnightsas oneoftheworldâs top40MBAprogrammes, partofitsstrength,alongsideitsAMBA(The AssociationofMBAs)accreditation,isthelevel ofexperientiallearningthatstudentsenjoyand learn from.
âStudentswillworkonmodules,butinseveral ofthose,theyare takinglearningbacktothe workplace â applyingtheirlearningsin realworldscenarios,âMartinsays.
Thatcanincludechallengessuchasworking with a clientondeveloping a designsprint, andwithinthestrategicmanagement research project,carryingout a real-worldconsulting challenge â tackling a liveissueorpotential problem.
âAllstudentsneedtohave a minimumofthree yearsâworkexperience,withsomeformof management/leadership role,âMartinsays.
âThatpriorexperience reallyhelpsclassroom debateasanintegralpartoftheMBAisto share experiences,networkandtoseehow othersectorsdealwithcomplexchallenges.
âQueenâs BusinessSchoolisoneofonly 300businessschoolsworldwidetohave theprestigiousAMBAaccreditation.This demonstratesourcommitmenttoachieving thehigheststandard ofteachingandlearning, curriculumdevelopmentandemployability.â
Martinsaystheprogrammeisfocusedontalent buildinganddevelopmentofimpactfulfuture businessleaders â bringingsolutionsbackto
employersandboostingorganisationalgrowth, butalsosettingupanentrepreneuriallandscape.
TheQueenâs MBAsees a hostoftopbusiness speakersvisitingtheuniversity, alongwithsite visitsatbusinessesfromrightacrossthesectors.
MBAstudentsalsowillparticipateinone-toonecoachinganddelvedeeperintosomeof thechallengesfacingbusinesswithcore and electivemodulesthatcovertopicssuchas âLeading Transformationin a Digital Worldâ, âEntrepreneurshipinthe21stCenturyâ,âPeople ManagementandtheFuture of Workâ,and âSustainabilityandSocialInnovationâ.
Andthereâs alsoanemphasisonthe transformational roleofdigitaltechnology âsomethingwhichiscontinuingtoevolve.
âWe recently redesignedtheprogrammeto include a focusondigitaltransformation, entrepreneurship,andsustainability â themes thatrunrightthroughtheMBAprogramme.â
28 EDUCAT ION
â
DrMartinKelly
MISexpandsseniormanagement teamfollowing30thanniversary
Followingtheir30thanniversaryin September2023,MISGrouphas announcedithasexpandeditssenior managementteamasitlookstowardsits nextmajormilestone.
JoanneMaguire,DavidReid,LindsayLee andJessicaCrawford havebeenappointed asassociatedirectors,joininganalready establishedandstrongseniormanagement teamofmanagingdirector, JonathanOgilby, anddirectors,DebbieLennonandStuart McClean.
Likemostbusinesses,MISGrouphasfaced challengesinthepost-BrexitandCovidworld withoneofthebiggestchallengesbeingthe sourcingand retentionofskilledstaff.
MISsaysitâs gratefultohave retained a workforceoftalentedanddedicatedstaff and statethatthefournewappointeesare refective ofthecalibre ofitsworkforceingeneral.
Thenewassociatedirectorshave a diverseskillbase,rangeofexperienceandqualifcations.
Theirhard work,dedicationanddetermination over a numberofyearshavemadetheir appointmentanobviousnextstepinthe developmentofthegroup.
ThebusinessethosofMISistoprovidethe highestqualityserviceinthemosteffcient manner Thenewassociatedirectorswillbring a freshinputtoaidthecontinuation,adaptation, andexpansionofthisethosasthebusiness continuestogrow
MISGrouphasseenitsturnoverincreaseby 39%inthelasttwoyearswhichitsayscould nothavebeenachievedwithoutthehard work andcommitmentoftheexistingteam.
JonathanOgilby, managingdirector, said:ââI amdelightedtowelcomeournewassociate directorswhoseappointmentwillstrengthen relationshipswithourcurrentbusinesspartners andwillassistusasweexpandintonewareas ofbusiness.ââ â
30 APPOIN TM EN TS
MISmanagingdirectorJonathanOgilby,associatedirectorsJessicaCrawford,JoanneMaguire,DavidReidandLindsayLee,anddirectorsDebbieLennonandStuartMcClean
NewlyappointedassociatedirectorsJessicaCrawford,JoanneMaguire,DavidReidandLindsayLee
Newhotelandbaropening inheartofCathedralQuarter
Anewhotelandbarisbeing developedintheheartofBelfastâs CathedralQuarterâcreating around40jobs.
ThesiteoftheoriginalHarpBarinBelfastâs CathedralQuarterisundergoingamultimillionpound redevelopment,whichwillsee itbecomeabar, restaurantandhotel.
ItwillbecalledTheFoundryâahomageto theoriginalstreetname,nowknownasHill Streetâandwillopenthissummer,creating 40jobs.
ThisDucalesGroupâsinvestmentwillseethe launchofa350-capacitybarand restaurant, aswellas20boutiquehotel roomsacross threefoors.
JimCrawford-Smyth,generalmanagerofThe Foundry,said,âWeareveryexcitedto reinvent thishistoricBelfastsite.
âWehavespentalotoftimecuratingthe conceptofthehotel,whilestillensuringthe siteitself retainsitslegendarystatus.
âWithTheFoundrywearechallengingthe traditionaltakeofaboutiquehotelwhilealso refectingandaccommodatingthebustling socialscenewithinBelfastcitycentre.
âItisourhopethatthenewbarand restaurant willpresenttheperfecthangoutspace,witha relaxed,sophisticatedatmospherewithgood foodanddrinksonoffer.â
TheDucalesGrouphasbroughtonboard GordonDevenney,principleofOâDonnell OâNeillDesignâsBelfaststudios,todesign thebuildingâsinteriors.Thegrouphasalso commissionedcommercialstreetartist, Visual Waste,tohelpwiththebuildingâsinteriorsto ensureTheFoundrywillbea realheadturner.
âThismulti-millionpoundinvestmentwillsee
newlifeinjectedintotheCathedralQuarter, witha350capacitybarand restaurant,as wellas20boutiquehotel roomsacrossthree foors,âthosebehindtheplanshavesaid.
Speakingabouttheinteriorofthenewhotel, bar,and restaurant,GordonDevenneysaid:âA lotofhistoryhashappenedonthissitethat wewantedtomakesurewedidnâtforgetand sohavetriedtoencapsulatewhatthatwasall aboutwhilststillinjectingamodernyetclassic twistwithTheFoundry.
âIthasbeenalotoffuntoworkwiththeguys onthisproject.TheFoundrywillbelikeno othervenueorhotelinBelfast.â
Inthelate1970sandearly1980,theHillStreet sitehousedtheHarpBar,knownforbeingthe go-tofortheNorthernIrelandpunkscenewith manypopularbandssuchasTheUndertones, TheOutcasts,andStiffLittleFingers regularly comingthroughitsdoorstoplay. â
32 NE WS
JimCrawford-Smythpictured atTheFoundrysiteinthe CathedralQuarterinBelfast
Figuresrevealscaleofchecks ongoodsenteringNIfromGB
Thousandsofchecksongoods enteringNorthernIrelandfrom GreatBritainunderWindsor Framework regulationsaretakingplace everymonth,fguresshow.
Underthe WindsorFrameworkchecksare requiredonsomegoodscomingintothe regionfromacrosstheIrishSea.
Whilethedealto restoreStormontmayhave removedâroutineâchecksongoodsfrom GreatBritainmovingintoNorthernIrelandwith theintentiontostaythere,someinspections andpaperworkarestill required.
LastOctobertheNorthernIrelandRetail MovementScheme(NIRMS) replacedthe existingSchemefor TemporaryAgrifood MovementsintoNI(STAMNI).
UndertheSTAMNI,inJanuaryoflastyear 5,948documentaryandcontainerseal checkswerecarriedoutongoodscoming intoNorthernIrelandfromGB,aswellas159 identifcationchecks.
InJanuarythisyear,underthenewerNIRMS scheme,6,095documentaryandseal checkswerecarriedout,inadditionto592 identifcationchecksand13post-movement assurancechecks.
BetweenFebruary1andFebruary22âthe latestfguresavailableâ4,584documentary andsealcheckstookplace,aswellas471 identifcationchecksandsixpost-movement assurancechecks.
TUVleaderJimAllistersaidthefguresâvery clearlyestablishâthattherehasbeenâno diminutionofchecksundereitherthe Windsor FrameworkortheDonaldsonDeal,despitethe contrarypromisesin respectofbothâ.
âTherigouroftheIrishSeabordercontinues unabated.This,ofcourse,isbecausethecause ofthechecks,namelyNIâssubjectiontothe
EUCustomsCode,isuntouchedbyboth(the Framework)andtheDonaldsonDeal,âhesaid.
âItisthisCustomsCodewhichdecreesGBa foreigncountrywhosegoodsmustbechecked comingintotheEUterritory,whichNIis deemedtobeundertheunalteredProtocol.â
Earlierthisweekitemergedthatpermanent post-BrexitborderinspectionpostsinNorthern IrelandcouldcostuptoÂŁ192.3m.
SinceJanuary2021checksongoodshave beentakingplaceattemporaryfacilitiesat NIports,whilepermanentpostsarecurrently underconstruction.
ThecostofthesepostsemergedafteraHouse ofLordsquestiontabledbyUlsterUnionist peerLordEmpey.
âTheconstructionoftheSanitaryand PhytosanitaryInspectionFacilitiesinNorthern Irelandissupportedbyanagreedbusinesscase whichprovidesafundingenvelopeofuptoa maximumofÂŁ192.3m,âLordDouglas-Miller, ParliamentaryUnderSecretaryofStateatthe
DepartmentforEnvironment,FoodandRural Affairs,said.
âThisfgureisjustanenvelopeandisnot guaranteedasthedepartmentalwaysaspires tocomeinunderbudget.â
LordEmpeysaidhewasâgenuinelyshockedat the revelationofthehugecostâ.
âHowanybodycansaywithastraightface thattheborderintheIrishSeaisgone,escapes me.Itâsallspinanddoingseriousdamageto thecredibilityofthosemakingsuchclaims,â hesaid.
EarlierthisyearSirJeffreysaidthedealwhich restoredStormont removed restrictionson goodscomingintoNIfromGB.
âZerochecks,zerocustomspaperworkon goodsmovingwithintheUnitedKingdom,â hesaid.
âThattakesawaytheborderwithintheUK betweenNorthernIrelandandGreatBritain andthatissomethingthatâsveryimportant.â
33 APRIL 2024 NE WS
â
FigureshaverevealedthethousandsofchecksongoodsenteringNorthernIrelandfromGreatBritainunderthe WindsorFramework
We areGrandCentral: thewomen engineeringBelfastâsnewstation
BelfastGrandCentralStationwillhelptransformpublictransportinthecityand beyondwhenitâscompleted. Translink takesalookbehindthescenestomeet someofthewomenbringingthisdestinationtravelhubtofruition
BelfastGrandCentralStation,on trackforoperationalopening thisautumn,willbethelargest integratedtransporthubinIreland.
LouiseDoylehasbeenatthehelmofthe projectasstationmanagersincejoining TranslinkinOctober2021with responsibility fortransitionandoperational readinessto ensurebothasuccessfulopeningandfuture success.
However,bringinglargeinfrastructureprojects tolifeisnothingnewforLouisewhohasan illustrioustrack recordinlargevenueand publiceventspacesmanagementincluding WembleyStadium.
Closertohomesheplayedalead rolein thelaunchofBelfastâsSSEArenaandas formerstadiumdirectorfortheIrishFootball AssociationattheNationalFootballStadium at WindsorPark.Inthislatter role,sheledon eventsthroughoutthebuildperiodthroughto completionandopening,overseeingstrategic planning,commercial,healthandsafetyaswell asoperationalmanagement.
Asseniorprogrammemanager,LouiseSterritt is responsibleforprovidingleadershipinthe
Itâsa game changer, notonly for Belfastbut allof Northern Ireland.
design,construction,commercialmanagement andprogrammedeliveryforBelfastGrand CentralStation.Shemanagesthecollaborative projectdeliveryteamincludingassociated consultantteamsandcontractors.
Louiseisacharteredcivilengineerwithmore than20yearsâexperienceofmulti-disciplinary constructionprojects.
Sincejoining Translinkasaprojectmanager in2006shehasmanagedlargeproperty constructionandparkandrideprojects.
Inadditiontoaprogrammeofstation upgradeprojects,shealsoledtheprojectand programmemanagementofthehighproďŹle
34 TR AN SP ORT
LouiseSterritt,seniorprogrammemanager, LouiseDoyle,stationmanagerandLisa McFadden,programmemanagerforthenew BelfastGrandCentralStationdevelopment
Portrush TrainStationproject,completedin advanceofTheOpengolftournamentin 2019.
MeanwhileLisaMcFadden,acharteredcivil engineerwithmorethan15yearsâexperience inlargeinfrastructureprojects,isprogramme managerforBelfastGrandCentralStation.
Shefrstjoined Translinkin2018asproject managerfortheNorth-West TransportHub projectforPhase1oftheconstructionstage afterworkingforHighSpeed2(HS2)and NetworkRailinEngland.
âDuringmytimeat TranslinkIhavehadthe opportunitytobeinvolvedinand responsible forawiderangeofprojectsincludingthe restorationofthegradeBlistedoldrailway stationbuildingand1.8kmoftrack renewal whichincluded6,500cubicmetresofballast deliveredby roadthroughonesharedaccess point,âLisasaid.
âInmycurrent roleasdeliveryprogramme manageronBelfastGrandCentralStation myworkhasbeenvariedandhasincluded responsibilityforthenewbusfacilities.â
BelfastGrandCentralStation
Designedtobefullyinclusiveforall,the impressivehigh-qualityBelfastGrandCentral Stationwillofferanenhanceduserexperience foraround20millioncustomerjourneysevery year.
Therewillbedoublethenumberofrail platformscurrentlyavailablefromfourtoeight andanincreaseinthenumberofbusstandsto 26signifcantlyincreasingcurrentcapacity.
Themodern,spacious,transportfacilitywith mezzaninelevelwillalsobeadestination retailspacewithadedicatedpublic realm
space,SaltwaterSquare,forarts,cultureand communityeventsandactivities.
Stakeholder response
BelfastGrandCentralStationhasbeen welcomedbystakeholderssuchasThe ConsumerCouncil, VisitBelfast,BelfastCity Council,BelfastChamberofCommerce, BelfastCityClimateCommissioner,ClimateNI, theInclusiveMobilityand TransportAdvisory CommitteeandSustrans,asprovidingsocial, economicandenvironmentalbeneftsto Belfastandtheentire region.
Thisisan excellent project that willbring many socio-economic benefts.
ClairePollock,headofSustransNorthern Irelandsaid:âThedevelopmentofthenew BelfastGrandCentralStationpresentsan opportunityforpeopleto rethinkhowthey travelandtochoosesustainablemodes.Active andsustainabletravelhassomanybenefts tohealth,householdbudgets,wellbeingand theclimate,wewouldencourageeveryone tobuildactivetravelintotheirdailytravel routine.â
NoyonaChundur,chiefexecutiveofthe ConsumerCouncilforNorthernIrelandsaid: âBelfastGrandCentralStationisanexcellent projectthatwillbringmanysocio-economic beneftstoconsumersinNorthernIreland. Itisanambitiousplanwhichwillstrengthen connectivityacrossallpartsofBelfastand beyond,improvethecustomerexperienceand offergreaterchoiceforpassengers.â
Similarly,SuzanneWylie,chiefexecutive, NorthernIrelandChamberofCommerce
BelfastGrandCentral Stationwillbea modern,spacious, transportfacility withadedicated publicrealmspace
andIndustry(NIChamber)hascalledthe newBelfastGrandCentralStationâagame changer,notonlyforBelfastbutallof NorthernIrelandâ.
âForanyonewhohashadaglimpseofthe scaleofthedevelopmentunderway,theywill haveasenseofthis.Butwehavenodoubt that,whenthestationopensthepeopleof NorthernIreland,businessesandtouristsalike willbewowedbyitsqualityandthepartitwill playin regeneratingthesurroundingareasâimprovingpassengerexperiences,numbersand servicessuchastheplannedimprovementsto theBelfast-Dublinserviceandattractingmore investment.â
TheEnterprisecross-bordertrainservice TheEnterprisewill relocatefromLanyonPlace tothenewBelfastGrandCentralStationwhen itopensmovingthiskeyserviceclosertothe citycentreanddeliveringmoreconnectivity withotherbus,coachandtrainservicesacross NorthernIrelandandbeyond.
InFebruary,theIrishgovernmentannounced âŹ25minfundingtoprovideforanhourly EnterprisetrainserviceundertheSharedIsland initiativewhichwilldoublecurrentfrequency andsignifcantlyenhancesustainabletransport connectivitybetweenthetwolargestcitieson theislandofIreland.
ThefagshipEnterpriseservice representsa tremendousopportunityforgrowthwith some3.3millionpeoplelivingwithina40-mile commutedistancefromtheBelfastâDublin railwaycorridor.Thisisprojectedtogrowto overfourmillionby2030 representingaround halfoftheislandâsentirepopulation. â
35 APRIL 2024 TR AN SP ORT
WhyÂŁ100m fromBudgetis onlyalimited winforus
TheBudgetcontainednosurprisesandfeltdistinctlyuninspiringforanelection year,sowinsandlossesalikearefairlymuted,writes
MargaretCanning
TheheadlinemoveoftheSpring Budgetendedupbeing a 2pcutin nationalinsurancecontributions, whichhadbeenextensivelytrailedin advance.
Butitwasnât even a freshidea:it repeated a moveintheautumnstatementinNovember
Intotal,thetwocutstogetherwillsave workersÂŁ900 a year Itâsa winforthem,albeit not a hugeone,asincometaxthresholdshave notbeenmoved.
Whatwas remarkablewastheextent ofChancellorJeremyHuntâs jibesatthe opposition âa sure signthatanelectionis coming.
AfterLabourPartygrandeeLord Mandelson mischievouslysuggestedthatpartyleaderSir KeirStarmerneededtolose a fewpoundsto gethimselfelected,theChancellorgotthe motherofalldigsinatLabourâs reputationas a partyofhightaxes.
âOrdinaryfamilieswillshed a lotmore than a fewpoundsifthatlotgetin,âMrHuntsaid.Sir Keirâs dignitywasdefnitely a loserafterthat.
There were somegiveawaysforNorthern Ireland,withwhattheChancellorsaidwasan extraÂŁ100mfortheExecutiveunderBarnett consequentials â thesystemofensuringallUK regionsgetthesamesupportasEngland.
TheNIDepartmentofFinancethenclarifed thatthesumisactuallyÂŁ99m â andthe Treasurystatementsaysitâs âaroundÂŁ100mâ.
Butitwouldnât be a Budgetdaywithoutsome quibblingbetweenthetwo.
Soitis a limitedwinforNI â limitedbecausewe canât spenditoncapitalprojectslikehospitals andschools.
Itâs alsocomplicatedtolookatthe ÂŁ99m/ÂŁ100mandwhatitcandoforusin thecontextoftheÂŁ3.3bnpackageto restore devolution,nottomentiontheoverhanging requirementtoraiseÂŁ82min revenue.
Thedetailed Treasurydocumentshowsthat resourcedepartmentexpenditure limits(DEL) forNIin2023/24willbeÂŁ14.8m,butÂŁ13.9m in2024/25.
However, the2024/25DELtotalsdonot
includeanyfundingfromtheÂŁ3.3bnfnancial packageto restore theExecutive,whereasthe 2023/24DELtotalsdo.
Thefundingfromthefnancialpackagewas ÂŁ846min2023/24,whichaccountsforthe majorityofthedifference.
Theupdatetochildbeneft,whichhaslifted thethresholdforfulleligibilityfromÂŁ50,000 toÂŁ60,000,is a great reliefforfamiliesinthat bracket,sotheywillhappilytakethatwin.
Meanwhile,theendoftax reliefsonshorttermholidayletsforfurnishedhomesshould bewelcomeinareassuchasthenorthcoast, where aninfuxofsecond-homeownershas madepricesunaffordablefor residents.
But,ofcourse,itâsa lossforthosesecond-home ownersandcouldmakethosenorthcoastpads a littlebitlessaffordable.
Overall,nooneiscrackingopenthe champagnein responsetotheBudget, particularlyasthelong-termfreezingofincome taxthresholdsmeansthatmanyofusare still payingmore tax, regardlessofthecutsto nationalinsurance. â
36 BU DGE T
Chancellorof theExchequer JeremyHunt
NEXT 2OO NORTHERNIRELAND COMPANIES2024 SPONSOREDBY
38
Rank Company Year ending Turnover Proft/loss Tangible networth Employees 2024 Latest sales Previous sales Latest proft/loss Previous proft/lossÂŁ 1 CharlesBrandGroupLtd 31/03/2023137,040,50651,667,0375,914,3902,434,70317,463,606185 2 CircleKEnergyLtd 30/04/2023105,151,00086,065,000210,000-471,0006,567,0002 3 KingsbridgeHealthcareGroupLtd 31/03/2023104,632,31076,267,63711,419,7489,130,83222,832,668794 4 SeatruckFerriesLtd 31/12/2022104,313,80085,452,4459,302,9024,273,87528,377,38384 5 SkeaEggFarmsLtd 31/12/2022101,572,72069,639,5003,113,5771,313,92813,589,889140 6 D&WCarlisleLtd 31/01/202399,388,20669,978,5431,051,991216,1125,592,282130 7 FryliteLtd 02/04/202399,320,95361,890,8255,039,0433,909,47019,875,454272 8 CommercialShippingCompany(Oils)Ltd 31/12/202297,675,06468,498,5371,584,7711,214,0198,225,1627 9 RadiusHousingAssociationLtd 31/03/202397,067,73494,162,7367,185,1896,348,059162,626,961889 10 NelipakHealthcarePackagingLtd 31/12/202295,488,93773,380,39714,576,39010,265,78162,593,118279 11 ChoiceHousingAssociationLtd 31/03/202395,002,99886,551,0001,597,00012,729,000167,741,000463 12 WestbankGroupLtd 31/08/202294,486,46566,058,9518,962,0206,681,93636,043,890204 13 DartanHallHoldingsLtd 30/09/202293,094,46787,043,996-5,066,7026,555,94480,179,914242 14 WoodsideLogisticsGroupLtd 31/03/202392,246,10979,674,5576,291,8355,215,59943,319,321629 15 HannonHoldingsLtd 31/01/202392,100,40373,953,8326,835,7106,930,98422,482,596594 16 DennisonCommercialsLtd 31/12/202291,478,35570,690,2302,750,4703,143,69515,957,462273 17 WhitemountainQuarriesLtd 31/12/202290,705,002104,157,00010,809,00011,509,00086,828,000180 18 MurdockBuildersMerchantsLtd 31/12/202287,419,17487,163,8916,717,7248,242,28520,263,915374 19 ShelbourneMotorsLtd 31/12/202285,451,22177,875,2651,310,7193,088,4849,871,826153 20 VeterinarySurgeonsSupplyCompanyLtd 31/08/202383,350,22179,419,9451,953,6711,567,7049,213,94054 21 RyobiAluminiumCastings(UK)Ltd 31/12/202281,259,70570,116,233440,311-33,778,025-20,490,250526 22 CooneenByDesignLtd 02/12/202280,651,87865,419,0863,634,0102,716,95678,660,779189 23 MagirLtd 31/08/202280,253,51079,418,215-1,119,161390,900-22,606,255524 24 StaffineRecruitment(NI)Ltd 01/01/202380,086,99883,468,0002,454,0001,271,0007,140,000124 25 UlsterCarpetMills(Holdings)Ltd 31/03/202379,902,92468,058,1143,249,8807,982,14662,821,294660 26 CarnbaneEstatesLtd 31/12/202279,892,31165,617,672-3,175,881511,62818,222,163138 27 JohnHogg&CoLtd 30/09/202279,753,99872,966,000-3,363,0004,050,00035,945,000325 28 ViberoptixOpcoLtd 31/03/202378,802,64317,540,45411,959,8262,327,63713,817,896345 29 AvondaleFoods(Craigavon)Ltd 31/03/202378,142,40371,881,6453,587,6905,348,30336,035,453462 30 KeystoneLintelsLtd 31/12/202277,407,46365,650,8646,350,0815,586,3119,679,384397 31 BelfastHarbourCommissioners 31/12/202277,188,00073,264,00032,877,00039,800,000574,239,000267 32 Andor TechnologyLtd 31/03/202376,912,00362,251,00019,802,00017,821,00044,511,000318 33 TobermoreConcreteProductsLtd 30/04/202376,866,17285,397,59210,881,75919,276,85986,839,900416 34 CapitaManagedITSolutionsLtd 31/12/202276,128,99898,785,0006,222,0006,410,00083,443,000282
1-34
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35-68
39 APRIL 2024
35 Walter WatsonLtd 31/12/202275,951,53865,822,6329,075,8879,068,49146,342,818208 36 Heatons(N.I.)Ltd 24/04/202275,749,38236,374,25517,756,0331,677,27041,276,865480 37 DiageoGlobalSupplyIBCLtd 30/06/202275,068,00071,786,0005,308,0004,956,00032,684,000117 38 CopelandLtd 30/09/202274,730,46963,119,7132,615,3123,339,19932,836,493269 39 AerLingus(U.K.)Ltd 31/12/202273,975,3955,000,0004,412,932604,27314,111,965188 40 NorthwayMushroomsLtd 31/12/202173,689,85074,453,049-1,284,4392,156,1471,258,21269 41 SyscoFoodsNILtd 03/07/202272,106,00347,076,0003,183,0001,148,000-21,878,0000 42 A&MCommercialsLtd 30/11/202271,665,54363,212,1825,606,9737,886,70724,656,64933 43 McAvoyModularBuildingsLtd 31/05/202271,535,59123,772,7302,529,375176,0082,965,802142 44 SpringfarmArchitecturalMouldingsLtd 28/02/202371,184,27358,585,40917,444,26315,264,12430,922,653177 45 PatmondEnergyLtd 30/06/202371,116,68585,225,8803,623,9944,076,94122,899,6194 46 MotisGroupLtd 30/06/202270,760,27767,693,2203,351,6361,749,8726,015,543121 47 ToubkalLtd 31/12/202270,437,76744,862,01211,266,1654,375,90921,621,808168 48 C&JMeatsLtd 30/11/202269,110,13858,893,145640,692835,4532,859,66158 49 DCCEnergyLtd 31/03/202368,907,99757,750,0003,918,0003,393,00037,952,00047 50 EOSITManagementSolutions(UK)Ltd 30/06/202268,745,56047,212,6644,229,7752,917,15510,853,727240 51 Telefonica TechNorthernIrelandLtd 31/12/202168,004,80757,076,4226,996,0785,986,40613,708,860320 52 GedaConstructionCompanyLtd 31/12/202267,708,52758,798,4724,293,6923,286,7806,584,376135 53 MorganMcLernonLtd 31/12/202167,526,84063,824,142-339,2723,982,6759,854,171500 54 Uni-TrunkGroupHoldingsLtd 31/12/202267,264,52648,464,45413,619,2989,584,86417,478,332243 55 PraxisCare 31/03/202366,667,89263,936,397265,6662,417,91121,153,8001,652 56 LibertyInformation TechnologyLtd 31/12/202265,677,95659,935,3066,352,9248,797,07926,277,763655 57 NTRGreenEnergyHoldingsLtd 31/03/202365,551,00053,867,00037,076,00027,201,00088,611,0000 58 UnionStreet(Lurgan)Ltd 31/03/202364,882,86643,552,7863,013,0212,951,03115,253,327722 59 PhoenixEnergyGroupLtd 31/12/202264,624,00068,293,00016,119,00015,463,000161,780,000121 60 GCU(UK)Ltd 31/10/202364,336,58358,140,1565,268,9597,797,55616,250,400116 61 DirectMedicsLtd 31/01/202264,297,33356,158,4072,789,0202,309,5087,318,468582 62 PowerteamElectricalServicesLtd 31/12/202263,519,00059,862,0004,426,0002,915,00011,269,000212 63 UformHoldingsLtd 30/04/202362,210,75059,378,0633,419,2534,079,87217,539,924429 64 ApexHousingAssociationLtd 31/03/202361,938,81861,092,210-2,323,420-2,505,80846,126,185667 65 Charles Tennant&Company(NI)Ltd 31/12/202261,174,00055,949,7582,344,2052,542,28927,165,70287 66 AmericoldLurgan TransportLtd 31/12/202260,951,17660,624,425-8,282,414-1,065,343498,010360 67 Regen WasteHoldingsLtd 31/12/202260,810,65449,964,6159,409,2957,868,89231,154,288284 68 Mallaghan(Holdings)Ltd 31/12/202260,738,42232,929,3541,281,980434,31724,273,922293 Rank Company Year ending Turnover Proft/loss Tangible networth Employees 2024 Latest sales Previous sales Latest proft/loss Previous proft/lossÂŁ
NEXT 2OO
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40 69-101 69 Crust&CrumbBakeryLtd 30/06/202260,477,68450,648,2931,341,2783,844,9258,116,746259 70 RiverRidgeHoldingsLtd 30/06/202260,436,38255,948,7171,800,8974,379,1395,410,997286 71 PIHLHoldingsLtd 31/12/202260,399,00052,947,000-1,009,000-1,239,000-19,192,000631 72 ForestwoodAgenciesLtd 30/09/202258,460,36570,828,2423,551,55413,004,58618,066,24015 73 BailieGroupLtd 31/12/202258,159,00054,638,000230,0002,203,00015,805,000386 74 Crestview TechnologiesLtd 31/12/202257,954,87237,900,340-4,915,342-3,402,127-9,530,402497 75 James TollandGroupLtd 31/05/202257,945,39650,531,271664,814427,190892,5236 76 LinamarLightMetalsBelfastLtd 31/12/202157,715,88947,640,089-3,717,870-6,280,59562,533,483499 77 PremierCementLtd 31/12/202257,268,68839,789,8108,929,7395,071,30432,328,0099 78 GreinerPackagingLtd 31/12/202257,156,31149,339,5792,921,6012,456,22714,352,113308 79 Smyths ToysNILtd 30/12/202256,191,00250,757,0001,124,0001,008,0001,184,000209 80 TheOldBushmillsDistilleryCompanyLtd31/12/202256,155,99843,229,00010,338,0007,980,000295,862,000124 81 RadiusPlasticsLtd 31/12/202256,016,00043,394,0004,426,0004,313,00019,496,000214 82 WDJLtd(AntrimElectrical) 31/03/202355,814,01440,892,8251,404,827771,3006,963,231134 83 ManfreightLtd 31/03/202355,514,03443,305,4513,456,0082,968,79510,783,215448 84 JohnMcQuillan(Contracts)Ltd 31/03/202354,555,23747,783,2732,732,5871,752,45013,007,163183 85 DowdsElectrical(Holdings)Ltd 31/03/202354,358,12841,202,496-2,835,904494,7404,830,776206 86 PortviewHoldingsLtd 30/11/202254,325,81320,256,7323,889,060-2,996,73119,800,648130 87 EdgewaterContracts & SpecialistJoineryLtd 31/12/202254,156,97943,120,8822,373,835918,8999,510,81870 88 FelixO'Hare&CompanyLtd 31/03/202353,713,55440,446,7381,054-32,4307,550,986104 89 S.E.R.E.HoldingsLtd 31/12/202153,417,34348,716,778683,983-305,9395,673,765213 90 GEGridSolutions(UK)Ltd 31/12/202252,958,00047,155,00012,699,0007,758,000116,122,000137 91 Gaffer(NI)Ltd 31/12/202252,867,65755,054,7525,030,2265,126,57527,635,623307 92 MCMUHoldingsLtd 31/03/202352,661,175 05,114,789 027,522,229431 93 Tennent'sNILtd 28/02/202252,631,00133,170,0005,264,000-1,817,00013,373,00063 94 HughesFamilyHoldingsLtd 31/12/202252,513,79451,501,8711,403,5362,199,68212,893,246244 95 JohnMackle(Moy)Ltd 31/12/202252,424,04639,306,2011,383,215243,2718,668,682241 96 Heartsine TechnologiesLtd 31/12/202252,142,21232,537,340-4,765,090-6,091,27111,499,649220 97 HarryCorryLtd 28/02/202352,046,38750,009,4612,267,2665,356,40920,588,987706 98 CAFRailUKLtd 31/12/202251,937,93138,812,4442,607,8382,361,6273,536,423298 99 J.K.C.SpecialistCarsLtd 31/12/202251,649,57049,841,3751,217,6401,116,44410,484,69782 100 ManningsConstructionLtd 31/12/202251,381,97527,193,138986,039-1,074,4161,565,37059 101 FintruLtd 31/12/202250,679,48829,680,3981,512,3034,173,76213,675,9381,039 Rank Company Year ending Turnover Proft/loss Tangible networth Employees 2024 Latest sales Previous sales Latest proft/loss Previous proft/lossÂŁ
102-134
41 APRIL 2024
102 Modern TyresLtd 31/12/202250,640,59844,858,5703,226,7513,457,79420,801,250283 103 EMNewsDistribution(NI)Ltd 31/12/202250,423,00051,390,0001,386,0002,305,0006,616,00077 104 Northern IrelandCo-OwnershipHousingAssocLtd 31/03/202350,220,28458,677,92415,743,13813,211,679141,738,52463 105 RoadsideMotorsLtd 30/09/202250,196,93454,490,276892,9731,715,2819,901,154126 106 Huhtamaki(Lurgan)Ltd 31/12/202250,098,00041,842,0005,252,0003,676,00037,150,000281 107 United WineMerchantsLtd 31/12/202249,960,09145,507,1102,551,4252,702,4561,954,43654 108 KilwaughterHoldingsLtd 30/04/202349,818,83647,935,5268,762,8489,605,81439,053,578202 109 PremierElectricsLtd 31/03/202349,529,85831,701,0319,339,501623,00017,554,36580 110 CamdenGroupLtd 31/03/202349,317,98646,751,049-275,133662,1126,289,982463 111 CPAnimalFeedsLtd 31/10/202249,246,89135,755,9824,527,2011,839,34512,472,09945 112 WRMHoldingsLtd 30/06/202249,096,25653,365,2464,009,0815,237,133-12,989,900102 113 Sangers(Northernireland)Ltd 31/03/202348,945,22547,443,1231,942,7431,502,30314,232,2920 114 O&SDoorsLtd 31/12/202248,898,14045,317,8296,504,7494,446,06912,572,120334 115 BallygarveyHoldingsLtd 30/09/202247,887,90937,643,7655,641,3483,478,76132,869,18871 116 ClanmilHousingAssociationLtd 31/03/202347,538,57042,414,2697,815,1868,361,60277,206,378323 117 CelmecLtd(T-Met) 31/12/202247,142,64742,383,12614,518,3393,663,10922,243,05396 118 W.D.Irwin&SonsLtd 24/09/202346,625,08230,418,954339,516-2,108,844-733,654263 119 Dawson WAMHoldingsLtd 31/12/202246,387,27224,184,6384,378,7641,668,03014,675,39692 120 MulgrewHaulageLtd 31/03/202346,375,82836,959,3083,992,3242,512,12711,599,029267 121 LotusHomesHoldingsLtd 31/12/202246,305,40542,514,3408,678,1647,478,720-758,1250 122 MooresAnilmalFeedsLtd 30/04/202345,896,27834,095,2051,466,0331,080,2429,181,00428 123 TelestackLtd 31/12/202245,801,02931,789,174-3,788,841-159,9097,033,188193 124 RichmondMarketing(NI)ltd 31/12/202245,698,70439,431,665395,590341,0121,679,61226 125 Doherty&GrayLtd 31/03/202345,660,68641,731,015-184,253468,4863,985,34986 126 JamesFMcCueLtd 30/11/202245,352,30329,456,046-1,318,134529,64513,340,959131 127 TullymoreHouseLtd(Galgorm) 31/10/202245,110,14622,734,9127,753,7693,214,83919,236,935801 128 World TravelCentreLtd 31/10/202245,046,2199,651,655-145,822160,5612,763,105101 129 BallinaskeaghGrainsLtd 31/07/202244,544,47940,261,1151,030,299719,4426,109,84915 130 M.KeysLtd 30/09/202244,439,23238,279,9262,005,8322,060,99618,998,313134 131 CorramoreHoldingsLtd 30/09/202244,434,47928,732,0697,228,7638,515,32717,666,33030 132 McCulla(Holdings)Ltd 31/12/202244,334,46532,728,7805,080,5413,141,37519,049,811278 133 PrenticePortadownLtd 31/12/202243,693,02740,780,721439,256646,1091,155,38855 134 EdgeInnovate(NI)Ltd 31/12/202243,539,71535,145,53210,154,2296,490,13636,106,372169 Rank Company Year ending Turnover Proft/loss Tangible networth Employees 2024 Latest sales Previous sales Latest proft/loss Previous proft/lossÂŁ
NEXT 2OO
42 Rank Company Year ending Turnover Proft/loss Tangible networth Employees 2024 Latest sales Previous sales Latest proft/loss Previous proft/lossÂŁ 135-167 135 HHGNo11.Ltd(HastingsHotels) 31/10/202243,179,35927,997,8656,156,896679,67449,523,717802 136 BrysonCharitableGroup 31/03/202342,880,02435,817,4411,620,687936,55512,476,9851,071 137 CombinedFacilitiesManagementLtd31/03/202342,825,67635,017,9283,733,4461,808,7923,776,747228 138 DesmondMotorsltd 31/12/202242,783,31042,307,114620,722799,5704,764,71370 139 O'Reilly'sWholesaleLtd 30/09/202242,723,40835,706,407691,180588,653577,154104 140 SheephavenLtd 30/04/202342,542,13841,680,5345,885,1606,561,73251,430,418609 141 KofaxNorthernirelandLtd 31/12/202242,123,05243,488,7588,624,6169,495,915121,322,60554 142 A.J.PlumbingSuppliesLtd 31/12/202242,000,75536,931,2554,832,5964,483,06625,898,560166 143 PRMGroupLtd 31/12/202241,975,89538,386,266358,9701,599,5549,335,29842 144 BAKitchenComponentsLtd 31/03/202341,925,33637,271,4082,236,3841,835,3919,233,499305 145 GortavoyFeeds&FarmSuppliesLtd31/03/202341,900,85933,290,3751,746,5101,770,42212,579,71840 146 MorrowGroupLtd 30/04/202341,854,60041,892,7846,246,2897,121,34929,253,982156 147 LowryBuilding&CivilEngineeringLtd31/03/202341,774,28832,887,0215,678,3634,506,91815,853,55286 148 MannokBuildLtd 30/12/202241,537,99839,683,000-13,220,000-9,695,000-20,959,000284 149 MultiPackagingSolutionsBelfastLtd30/09/202241,185,16935,822,0926,423,0215,301,224105,010,198161 150 3InteriorHoldingsLtd 31/12/202241,123,05538,524,711-1,126,9211,041,552562,93747 151 DillonBassLtd 30/06/202241,113,00333,311,240641,651516,7704,585,24624 152 Lynch'sFoodstores(Holdings)Ltd30/04/202340,882,30034,127,4512,851,2562,613,3854,629,001430 153 TESGroupLtd 31/12/202240,807,98021,918,8976,308,8123,475,01613,215,398122 154 McKenzies(NI).Ltd 31/07/202240,773,88830,639,1962,700,4496,579,49616,856,32741 155 BelfastInternationalAirportLtd 31/12/202240,721,00121,598,0003,735,000-1,241,00075,076,000169 156 Allen&Overy(SSF)Ltd 30/04/202340,568,93231,816,8162,598,2422,012,3861,988,314405 157 KellysSupermarketsLtd 31/03/202340,438,75133,984,559649,5151,105,6921,779,669420 158 BAMContractors(N.I.)Ltd 31/12/202240,320,03749,423,118806,4011,072,9607,660,30510 159 CFGHoldingsLtd(Countrywide) 31/03/202340,016,14039,095,2782,008,2782,264,7453,331,123321 160 CalorGasNorthernIrelandLtd 31/12/202239,980,00033,642,0009,261,0006,433,00014,253,000100 161 AndrewsGroupLtd 01/10/202239,977,00131,400,0001,488,0001,328,00011,612,00077 162 BawnbuaFoodsNILtd 31/01/202339,864,01731,959,149625,073336,1186,873,393144 163 Winefair(Belfast)Ltd 30/09/202239,433,33840,526,9372,166,2152,610,8089,632,156403 164 AndrasHouseLtd 30/04/202339,337,97129,359,98911,562,1218,824,93975,547,510479 165 RegencyCarpetManufacturingLtd30/06/202239,272,61740,733,477341,1953,687,11119,217,337106 166 WesternBuildingSystems(Hld)Ltd30/04/202239,244,86538,794,4052,728,4791,376,52232,525,67070 167 P.A.McKeeverLtd 31/07/202239,216,04537,373,5881,209,43297,890-5,328,378408
NEXT 2OO
43 APRIL 2024
Rank Company Year ending Turnover Proft/loss Tangible networth Employees 2024 Latest sales Previous sales Latest proft/loss Previous proft/lossÂŁ 168 BeveragePlastics(Holdings)Ltd 31/12/202238,958,17227,860,8361,680,2651,633,0215,876,02998 169 IrwinM&ELtd 31/08/202238,681,91928,045,0902,249,4192,542,3274,410,237203 170 Millar TractorsLtd 28/02/202338,680,40831,117,7204,786,2591,761,91015,099,6739 171 Inspire Wellbeing 31/03/202338,530,99835,278,0002,098,0002,610,00013,999,000848 172 GlenevinLtd 31/08/202238,245,46818,635,8392,405,1681,116,8314,512,761120 173 G.P.MarketingLtd 31/07/202238,137,93228,376,1172,462,491801,9376,412,05038 174 TraceyConcreteLtd 31/03/202337,545,76538,654,8815,403,1046,400,95833,922,333216 175 WilsonsAuctionsltd 31/03/202337,403,56432,897,4777,145,8937,151,92834,934,232249 176 AngelHoldings(N.I.)Ltd 31/10/202237,298,36325,974,291573,103139,4462,248,24592 177 TerumoBCTLtd 31/03/202337,127,77531,220,7323,141,4362,528,98423,251,691307 178 RobertCapperHoldingsLtd 30/06/202237,024,77626,546,336925,450206,60011,317,109143 179 HospitalServicesLtd 30/09/202237,002,97930,788,9202,640,4842,435,739-4,943,015115 180 RoadtrucksLtd 31/12/202237,002,46434,787,4123,027,2622,133,99516,446,99751 181 BSGCivilEngineeringLtd 31/12/202236,796,00136,588,0005,259,0007,395,00025,605,00081 182 LW Surphlis&SonLtd 30/06/202236,709,90431,379,7561,08833,8082,574,51166 183 UlsterIndependentClinicLtd 30/04/202336,654,71834,979,6795,818,3048,445,16261,036,308449 184 J.M.C.RestaurantsLtd 31/12/202236,611,54935,257,083496,1893,948,8093,546,701967 185 NorbevLtd 31/12/202235,949,08224,358,469778,614301,3963,141,03689 186 GreenviewGasLtd 31/03/202235,807,76722,331,8881,174,65718,0651,451,283261 187 BraidwaterGroupLtd 31/03/202335,792,72344,206,5631,602,1963,062,95718,033,217107 188 WoodvaleConstructionCompanyLtd30/06/202235,669,51930,595,8301,350,2781,858,0479,817,12691 189 ClearyContractingLtd 31/03/202335,550,54517,317,6974,985,2212,321,89615,280,21545 190 EvronFoodsLtd 31/12/202235,489,56145,244,979-9,324,195-2,845,160928,967314 191 EquipmentSalesLtd 31/12/202235,308,91626,522,3712,114,0191,610,04319,166,4198 192 OakleafContracts(Europe)Ltd 31/12/202235,303,86516,246,3532,928,562402,3744,233,45790 193 ERELPSHoldingsLtd 31/12/202234,997,75028,880,44110,895,24112,382,776-8,845,2934 194 MervynStewartLtd 31/12/202234,992,70631,041,003731,9981,203,6655,217,68469 195 Hunter'sHill WindFarmLtd 31/12/202234,916,00021,919,00023,295,0009,732,0008,350,0000 196 UnipharMedtech(UK)Ltd(Sisk) 31/12/202234,863,00032,383,0006,072,0006,274,00012,478,00058 197 TradeMouldingsLtd 31/03/202334,776,64633,364,5722,633,9075,123,02929,954,180186 198 R.Thompson&Son(Armagh)Ltd31/12/202234,741,22726,894,852214,071530,3787,145,59456 199 EliteElectronicSystemsLtd(Leaf) 31/03/202334,586,82826,701,4024,470,8043,211,45112,186,101216 200 SpecialistGroupHoldingsLtd 30/04/202334,561,55033,468,6992,048,415355,55010,121,059175
168-200
NEXT 2OO
NorthernIrelandâsleading SMEsseesalessurgeby21%
The UlsterBusiness Next200,with Go Succeed,chartsthe successstoriesofour leadingSMEshere,and followsonfromour Top 100summeredition. Analyst Jonathan Cushley,whocompiled thelist,breaksdownall thekeynumbers
NorthernIrelandâsleadingSMEs haveseensalessurgingbymore than20%alongsiderisingprofts, UlsterBusiness can reveal.
Formorethan30yearsthe UlsterBusiness Top100,andNext200havebeenproviding ameasureoftheperformanceofNorthern Irelandâsbusinesscommunity.
Thefnancial resultsoftheNext200Northern IrelandCompanies,withGoSucceed,highlight performanceacross,sales,andpre-taxproft andtangibleshareholdervalue.
TheNext200listingincorporatesthe results ofNorthernIreland-basedcompanies, eitherNorthernIreland registeredorwhena signifcantportionoftheirbusinessisdriven andtransactedthroughthe region.
Summary
Saleshavegrownby21.6%toÂŁ11.3bn fromÂŁ9.3bnandproftabilityhasalsogrown by11.2%toÂŁ771.6mfromÂŁ690.4m.
Whiletheproftincreasefgurehas reduced substantiallyfromthe2023listingfgureof 50.5%neverthelesstheoverallperformanceof
companiesisextremelyencouraginginwhat remainchallengingeconomictimes.
Sales/revenue
Revenueistheincomethatabusinessderives fromitsnormalbusinessactivities,usuallyfrom thesaleofgoodsandservicestoitscustomers. Revenueisalso referredtoassalesorturnover.
ThestrongperformanceoftheNext200 companiesingenerating revenuegrowthof 21.6%isexceptional.
Therewerestrongperformancesthroughout thelistinghighlightedbythefactthatthe top17companieswithinthelistwouldhave reachedthecriteriaforinclusioninthe2023
Top100listingbyexceedingtheÂŁ88.8m turnovervalueofthecompanyatthefnal positioninthe Top100.
SinceitsinceptiontheNext200wascompiled toshowtheperformanceofthosecompanies bubblingunderthe Top100andthisyearâs fgureof17havingthepotentialtobreakinto thepre-eminent Top100istestamenttothe qualityofbusinessesoperatinginNorthern Ireland.
Fivecompanies,CharlesBrandGroup,Circle KEnergy,KingsbridgeHealthcareGroup, SeatruckFerriesandSkeaEggFarmsallposted turnoversinexcessofÂŁ100mandasagroup showedsalesgrowthof49.7%.
44 NE XT 20 0
JonathanCushley
Conversely,only21ofthe200companies posted reducedsalesfguresduringtheirlatest fnancialyear.
Proftability
Firmsoftenmakethemistakeoffocusing solelyonsales,operatingunderthe assumptionthatgreatersales/revenue meansgreaterproftabilityâwhenthisis notnecessarilythecaseâtheirproftability isprobablythesinglemostimportantkey performancemetric.
Thecompaniesthathavebeenidentifedas theNext200achievedproftabilityofÂŁ771.6m intheirlastfnancialyearstrading,up11.2% fromÂŁ690.4m.
This representsapre-taxproftmarginof 6.8%slightlydownontheprioryear,which showedamarginof7.4%.Thefgureof6.2% howeverishigherthanthe Top1002023pretaxproftmarginof5.2%andindicatesthat theNext200arecontinuingtoperformwellin comparison.
Itshouldbenotedthat21companiesoutof thelistingactuallypostedlossesâtheselosses totalledsomeÂŁ71.6m.
Tangibleshareholdervalue/networth Tangibleshareholdervalueisthevalueenjoyed byashareholderbypossessingsharesofa
TOP10MOSTPROFITABLECOMPANIES
companyâitisthevaluedeliveredbythe companytotheshareholder.
Initssimplestformthisiscalculatedasthe shareholdersfunds(issuedcapital)plus retainedearningsâintangibleassets.
TheshareholdervalueoftheNext200
companiescurrentlysitsatÂŁ5.24bn.The shareholder returnfortheNext200listing equatestoproft/shareholdervalueandasa percentagesitat14.7%.
Thesalestoequityratiodefnedassales/ shareholdervalueprovidesanindicatorofhow muchmoneyisgeneratedbythebusiness
45 APRIL 2024 NE XT 20 0
RankCompany Profts(ÂŁm)Proftmargin(%)Next200rank 1NTRGreenEnergyHoldingsLtd 37.1 56.6 57 2BelfastHarbourCommissioners 32.9 42.6 31 3HunterâsHill WindFarmLtd 23.3 66.7 195 4Andor TechnologyLtd 19.8 25.7 32 5Heatons(N.I.)Ltd 17.8 23.5 36 6SpringfarmArchitecturalMouldingsLtd 17.4 24.4 44 7PhoenixEnergyGroupLtd 16.1 24.9 59 8NorthernIrelandCo-OwnershipHousingAssocLtd 15.7 31.3 104 9NelipakHealthcarePackagingLtd 14.6 15.3 10 10CelmecLtd(T-Met) 14.5 30.8 117
> NiallMcGillof CharlesBrand
witheachpoundinvestedâfortheNext200 listingthisamountsto2.15.
TwelveoftheNext200listinghaveanegative shareholdervaluemeaningthatthecompanyâs liabilitiesoutweighitsassetsâcumulatively amountingtoÂŁ148.3m.
Employees
TheNext200companiesemployatotalof 48,422people.ThisďŹgurehasbeenpulled fromthelatestsetsofaccountscurrentlyon ďŹleatCompaniesHouseandissubjecttoa highdegreeofďŹuidity.
EachemployeewithintheNext200accounted forÂŁ233,262salesâsales/employeeandfor ÂŁ15,935proďŹtâproďŹt/employee.
PraxisCareemploys1,652people,Bryson CharitableGroup1,071,FinTrU1,039with JMCRestaurants967andRadiusHousing848 makingupthetopďŹve.
AsperhistoriclinestheeastofNorthern Ireland remainsthepredominantheadquarter locationforbusinesseswith121business locatedinBelfastandcountiesAntrimand Downâ79businessesarelocatedinthewest.
NOTES
AdateofFebruary28,2024hasbeen usedasacut-offfortheďŹlingofaccounts fortheNext200listing.
Thelistinghasbeencompiledusingdata sourcedfromCompaniesHouseand coversďŹlingsprimarilyfrom20022and 2023companyďŹnancialyearends.
Whenaggregatinginformation,attempts havebeenmadenotto replicateturnover withingroupstructures.Wherever possibledatapertainingtoholding companieshasbeenusedattheexclusion ofsubsidiaries.
ďŁ ďŁ MCMUHoldingsLtdisacompany incorporatedon10/06/22andassuch hasonlyďŹledaccountscoveringďŹrst yearoftrading.
ďŁ ďŁ OakleafContracts(Europe)Ltd accounts relatetoa16-monthperiod.
ďŁ ďŁ McAvoyModularBuildingsLtdprior yearaccounts relatetoasix-month period.
ďŁ ďŁ AerLingus(U.K.)LtdaccountsareďŹled inEuro,forpurposesoftheNext200 listingamountshavebeenconvertedto sterlingatthe relevantexchangerate.
ďŁ ďŁ ViberoptixOpcoLtdaccounts relateto a15-monthperiod.
46 NE XT 20 0
â Belfast â CoAntrim â CoArmagh 5 21 28 22 25 39 60 â Co Fermanagh â Co LĘźderry â Co Tyrone â Co Down RankCompany Shareholdervalue (ÂŁm) ProďŹt/shareholder valueâ margin(%) Next200rank 1BelfastHarbourCommissioners 574.2 5.7 31 2TheOldBushmillsDistilleryCoLtd 295.9 3.5 80 3ChoiceHousingAssociationLtd 167.7 1.0 11 4RadiusHousingAssociationLtd 162.6 4.4 9 5PhoenixNaturalGasLtd 161.8 10 59 6NorthernIrelandCo-OwnershipHousingAssociationLtd 141.7 11.1 104 7KofaxNorthernIrelandLtd 121.3 7.1 141 8GEGridSolutions(UK)Ltd 116.1 10.9 90 9MultiPackagingSolutionsBelfastLtd 105 6.1 149 10NTRGreenEnergyHoldingsLtd 88.6 41.9 57
TOP10HIGHESTSHAREHOLDER VALUE
GEOGRAPHICLOCATION
IsBitcoin heretostay?
Bitcoinisheretostayandreaching avalueof$500,000isnâtoutofthe question,writes Adrian Weckler
Is itsafeyettosaythatBitcoinismore than a scam?
Andisitinevitablyheadingforhistoricallyhigh pricesof$100,000,oreven â intime â $1m?
Theseare thequestionsthatevenhardened scepticsare nowasking.
Recently, Bitcoinâs pricehasrisenby40%.And itâs goneupby170%inthelastsixmonths,by 213%inthelastyearandby1,748%inthelast ďŹveyears.
From a purely ďŹnancialperspective,itâs been a farbettermedium-termbetthanApple, Google,Metaoralmostanyotherhigh-growth techstock;onlyNvidiahasperformedbetter, andonlymarginallyso,atthat.
WhyhasitdeďŹedthedoubters,whichinclude Irelandâs CentralBankgovernorGabriel Makhlouf,whohascalledcrypto a Ponzi scheme?
Thesimpleansweristhatenoughpeoplestill believeinitforittobe a thing.
AnyonewhousesRevolut â whichis2.5 millionofusinIreland â willknowthatitâsa simpletaptobuyBitcoinor a hostofother
cryptocurrencieswithintheapp,outofyour Revolutbalance.
Itâs stillseenas a fast-tracktohackthe investmentgame,oftenbyyoungmenwhoare impatientand restlessandwillingtobet.
There is,too, a residualtypeofpersonwho is a longtimecryptoinvestorforsociopolitical reasons,whodistrustsgovernmentsandis lookingforanalternativestore ofvaluethatisnât state-controlled.(Sadly, withthepolarisedage weâre in,thatcategoryofpersonisgrowing.)
Butthere isalsoincreasingly a white-collar respectableinvestor, thetypeofpersonwho mightalsobuybondsorblue-chipstocks.
Indeed,partofBitcoinâs currentsurgeisthe recentnodof respectabilityitgainedfromUS ďŹnancialauthoritieswho,inJanuary, gaveit the regulatorystatusofanexchangetraded fund(ETF).Insimpleterms,thisletsbanksand brokersbuyit,sellitandtradeit.Itgivesitan ofďŹcially recognisedcategorisation,ofsorts.
ButinBitcoinâs case,anotherspeciďŹc eventis playing a key roleinitspricerise:theupcoming âHalvingâeventinApril.Inbasicterms,thisis whenthe reward forBitcoinâminersâhalves(this
time,from6.25to3.125)perâblockâmined.
Everyprevioustimethishashappened,the valueofBitcoinhasgoneup.Ifthisonefollows thepattern oftheothers,thepriceofBitcoin haseitheralreadygoneupbecauseofitorwill risefurther
Thisis,ofcourse, a bigâifâ.Bitcoin â aswellas almosteveryothercryptocurrency â hasfallen bylargepercentagesmany, manytimes.
In2017,whenBitcoinwastradingat$4,000, anexpert I interviewedpredicteditwouldgo to$100,000becauseofthefundamentals underlyingthetechnologyandthelong-term appetiteforit.
Threeyearsago, a US ďŹnancialexperttoldme hethoughtitwouldgotobetween$300,000 and$500,000. I wasscepticalthenand remain scepticalnow But I nolongerthinkitâs outof thequestion.
Cryptocurrenciesstillhavesomebigproblems. Theyâre complicated,still relativelyunregulated andcangoupinsmokequickerthanother thingsyoumightinvestin.Buttheymaynot beastransitoryastheirworstcriticscharge. Bitcoinlookslikeitâs here tostay â
47 APRIL 2024 ANALYS IS
Placing Northern IrelandâsSMEs ontheroadto âGoSucceedâ
GoSucceed,sponsorofthe UlsterBusinessNext200,isa
ÂŁ17mschemeaimedatdrivinglastingimpactonthebusiness landscapeacrossall11councilareasinNorthernIreland
ItâsoftensaidaboutusinNorthern Irelandthatwewouldratherhideour lightunderabushelthanshinealight onoursuccess.Modestyisofcoursea virtuebutwhenitcomestobusiness,we havesomuchtoshoutabout.
The UlsterBusiness Next200presents afantasticopportunitytodojustthat, showcasingtheverybestofoursmalland mediumsizedenterprises(SMEs)asthey lieonthecuspofthe regionâsleading100 companies.
AndatGoSucceed,weârehelpingmanyof themonthejourney,superchargingtheir growthplansandbuildingthemupto reach thenextlevel.
A recentlylaunchednewenterpriseservice, GoSucceedispartofaÂŁ17mschemebacked bytheUKgovernmentâsDepartmentfor LevellingUp,HousingandCommitteesaimed atdrivinglastingimpactonthebusiness landscapeacrossall11councilareasin NorthernIreland.
Theprogrammeisnotjustsupportingstart
upsorthoseconsideringsettingupanew company,butitisalsohelpingtoscaleand growbusinesses,largeandsmall,throughout theirlifecycle,throughourâStartâ,âGrowâand âScaleâofferings.
Itcouldbethatyourbusinessisalready establishedandwhileyouarenow readyto expand,growthisslowandyouârenotsure howtoprogress.Forthosewishingtogrow,it couldbeaboutincreasingyourworkforce,new productcreationorembracingnewtechnology withinyourbusiness.
Oryourcompanymayalreadybewellahead onitsgrowthjourneybutyouneedguidance, supportor resourcestotakeittothenext level,locallyandinternationally.Inthese cases,ourexpertswillprovideyouwithone tooneintensivesupport,includinghelpfor engagementwithpersonnelintheonward referralorganisation.
AssistanceisfreeofchargeandGoSucceed hasbeendesignedtoprovideentrepreneurs andbusinesseswiththerighttoolstohelp makethathappen,growtheirorganisations, andboostthewidereconomy.
Thesetoolswhichincludementoring, masterclasses,peernetworks,aswellas opportunitiestoaccesstograntfundinganda businessplan,aretailoredtosupporttheneeds ofthespeciďŹcserviceusers.
Allofthisistodesignedtocreatethevery bestconditionsinwhichNorthernIrelandâs SMEscanthriveandgrowoureconomyin theprocess.Thisisgoodforallofus,helping jobcreation,raisinglivingstandards,and improvingthelevelofpublicservices.
We wantourbusinessestobeexploringnew marketsandcreatingnewproductswhile alsodevelopingandimplementingnew,more efďŹcientwaysofworking.
BeingnamedamongNorthernIrelandâsNext 200meansyouarealreadywellaheadon yourgrowthjourney.Letusworkwithyou toacceleratethoseplans,empoweringyour businessto reachthenextlevel. â
To ďŹndoutmoreaboutGoSucceed,thehelpon offer,andtoseeacalendarofupcomingevents andworkshops,visitwww.go-succeed.com
48 NE XT 20 0
CharlesBrand 1
CharlesBrandisaNorthernIreland civilengineeringbusinesswhich actuallyboastsanalmosttwocenturyheritagewithitsoriginsin Scotland.
Butinthelastfewyearsitâsbeenverymuch rebornintoamajorplayerintheconstruction sectorhere,workingonbigongoingprojects suchastheBelfast TidalFloodAlleviation Scheme.
âIthasagreathistoryofdeliveringhigh-end projectsthroughoutScotlandâtheaqueducts andthroughintothe1960swiththeLondon Underground,âmanagingdirector,NiallMcGill, tells UlsterBusiness
âHere,itâsdeliveredlotswithinBelfastHarbour, rightthroughtotheSilent ValleyReservoir. SomeoftheprestigiousjobsinNorthern IrelandincludingtheQueenElizabethBridge andcurrentlywearedeliveringtheBelfast FloodAlleviationrightthroughoutthecity.
âThenamehasbeenaboutforalmost200 yearsandIstartedwithCharlesBrandin 2001,âNiallsays.
Hesaidthecompany,whichsitswithinthe overallLaganSpecialistContractingGroup, was relaunchedin2019andthatâswhatâs nowdrivingthecompanytoworkonmajor schemeshere,aswellasseeingitssalesshoot upfromÂŁ52mtoÂŁ137minthespaceofa year.
CharlesBrandcomesinatthenumberone spotthisyear,postingpre-taxproftsof almostÂŁ6mfortheyearendingMarch2023.
ThebusinessisheadquarteredinBelfastbut alsohassatellitebasesdependingonthe work requiredelsewhereintheUK.
âItâs reallyourconcentratingonwhatwe aregoingtodo. We haveagoodhistory inutilities,anddiversifedfromwaterinto telecommunications. We deliveredthebig endofProjectStratum(ruralbroadband scheme),forexample.
âWediversifedintorailagainandlookedat afewmarketsectors. Weâvetenderedand aregettingontoalotofframeworks.Thatâs ourstrategywhichweadopted.â
Lookingahead,Niallsaysgrowthislikely tobewithinamixtureofbothpublicand privatesectorwork.
âMygoalistoformthese relationshipsfor thefuture. WithNI Water,forexample, weareononeframeworkandweâvebeen acceptedonanother.Iwanttobuildonthat andbeoneofNI Waterâstrusteddelivery partners. Translink,also. We areonone frameworkandarelookingtobesuccessful onanother.ThatâsthesortofworkIwant tobedoingâitâsallbuiltfromdoinggood, high-qualityworkontimefora reasonable priceandhavinggood relationshipswithyour clients.â
HesaidCharlesBrandisalsoindiscussions withNIENetworksaheadofitsmajorÂŁ3bn investmentoverthenext10years.
âNIEismassiveandthatâsonewhichI really wanttogetinto,âNiallsays.
âWealsohaveourprivateclientsâweare currentlyinagoodpositionforamarinejobat thePortof Tyne,forexample.â
CharlesBrandhasaround100full-timestaff butNiallsaysitâslikelythatwillincrease,inpart duetoabroadband roll-outbidinEngland.
Andlookingaheadhesaysgrowthisabout âbuildingonwhatwearedoingâand expandingintosectorsherealongwith elsewhereintheUKandintheRepublic.
âThereâsnot reallyatargetinmindâŚthe keytooursuccesshasbeenonhighmargin specialistsectors. Weretainaskilledand highly-motivatedcoreteamanditâsoffering theself-deliverymodeltomaximiseour proftabilitybutvalueformoneytoourclients.
âItâsnotaboutaracetothebottomwithsilly bidsâŚwehaveourmodel,ourplananditâs allaboutsustainabledeliverywiththeright margins,andyouâllseethatinourfgures.â
NiallâsownlengthyCVacrosscivilengineering, inwhichhespecialisedinmarinework,took himtoCaribbeanislandofSaintLuciafora handfulofyears.
NE XT 20 0 50
âItâsverygoodanditgivesyouverygood experienceforwhatyouaredoing,âhesays. âYouareworkinginfairlyprimitive areasandwewerebuilding roads throughajungleorrainforest.
âForexample,Idida roadinSaint Luciawhichwas28kmthrougha jungle. We tookamobileasphalt plant,concreteplantsandtrucks.
âBeingacivilengineer,tobatcha cubeofconcreteinBelfast,Ilift thephoneandringoneofthe suppliersandtheyâllarrivewitha trucktothehigheststandards.
âInSaintLuciaformeto buyconcreteIhadtoquarry thestone,shipthecement, quarryandscreenthe sand,batchtheconcrete andtesttothestandard [required].Onceyouâve donethat,itmakes comingbacktoBelfast thatbiteasier.â â
NE XT 20 0 51 APRIL 2024
NiallMcGill
ShelbourneMotors 19
Itâsagoodtimetobeinthecartrade. SalesofnewcarsoverFebruary climbed14%year-on-yearto84,886 vehiclesâthehigheststatisticforthe monthintwodecades.
ShelbourneMotors,afamily-ownedcardealer, isnobackseatdriverinthisauto revolution. Salesforthefrstcoupleofmonthsof2024 atthebusinesswereârecord-breakingâ,Paul Ward,directorofShelbourneMotors,says, onaccountofaâdramaticâincreaseinused andnewcarsalesthroughfeetandbusiness channels.
âWewerejustshortof5,000[newandused carsales]lastyearandwehavetargetsof 6,000for2024,âPaulsays.
Thefrmcomesinatthenumber19spot inthisyearâsNext200,withGoSucceed. TurnoversitsatÂŁ85.4mfortheyearending December2022,upfromÂŁ77.9mayear earlier,withpre-taxproftsofÂŁ1.3m.
Shelbourneisnotmerelysurfngmarket trends,however,butmakingwavesoftheir own.AtthestartofMarch,thetraderopened anexpandedsiteinNewry:adedicatedvan andusedcarcentrespreadacrosssevenacres.
The renovationispartofaÂŁ3mcapital investmentprogrammeacrossitssitesin PortadownandNewry,whichincludesa transformationofitsfranchisesforNissan, Renault,Kia,DaciaandMaxus.
âWecompletedourNissan refurbishment lastyearwithanewlookinthePortadown showroom. WeâvejustcompletedourKia refurbandweâreabouttoembarkona RenaultDacia refurb. Toyotawillfollow.â
Shelbournecurrentlyemploys160people acrossitsfranchises,usedcarbrand (Autoselect)andvehicle rentaldivision,
accordingtothedirector.âWeâre recruiting morestafffortheworkshops.Ourparts businesshasbeen reallybusythisyearas well.âThebusinessisnoovernightsuccess. Itwasfounded51yearsagoin1973byFred Ward.Asecondgenerationofthe Ward familynowstrivetomaintainFredâsethos.
âOur reputationiseverything,âPaulsays. âWewanttodeliverthebestcustomer satisfactionlevelsandbethebestoutthere. Thefoundationthatdadhasgivenusisa greatgrounding.Customersareparamount inourjourney.Soaretheteamsâourstaff. We treatourteamswiththeutmost respect andwewantthemtotreatourcustomers thesameway.Thatwasinstilledintous whenwewerecomingupthroughthe business.â
AccordingtoSMMT,feetsalesofelectric vehicles(EVs)wereinstrumentalinthe industryâsFebruaryperformance.Paul Ward describesShelbourneMotorsas âearlyadoptersâintheEVmarket,having installedEVinfrastructureacrosstheirsites inPortadownandNewry.EVisidealforcar ownersontheislandofIreland,hebelieves. AstudyconductedbyShelbourneMotors suggestedtheaveragejourneyfordriversin NorthernIrelandis16miles.
âWearenotdoingtwoandthreehour journeyslikeelsewhereintheUK,âhesays. âSoifEVisgoingtoworkanywhere,itis goingtoworkhere.âFurthermore,battery lifeisimprovingallthetime:âWhenEVsfrst begantobesold,thebatterytechnology wasbetween60to80milesrange. We are nowat300miles.â
However,thereareconcernsaboutthe availabilityofchargingpointsandthe costofelectricvehicles.SMMThascalled ongovernmenttocut VATonnewEV purchaseswhichcouldsavecustomers
aroundÂŁ4,000ontheupfrontprice.Changes tovehicleexcisedutyin2025mayalsomake EVcarpurchasesmoreexpensive.
Government,Paulsays,âcoulddomoreto supportEVsalesandhelpEVbecomemore affordableforeverybody,ratherthanjust companycardrivers.â
âAgrantwasavailablewhenEVsfrstcame out[theUKplug-invehiclegrant]butthatâs notavailableanymore. We areallinfor reducingourcarbonfootprintandmaking abetterenvironmentbutweneedhelpto allowpeopletomakethatjourney.22% ofthe retailcarssoldintheUKthisyear mustbeEVorelsethereareheftyfnesfor manufacturers.Howdoweget22%of customerstoturntoEV? We havetomake itanaffordablestepforthemtomovefrom adieselorpetrol.Thatiswheregovernment canassistus.â
ShelbourneMotorsisintentonleadingrather thanfollowingtheautoindustry.ItsÂŁ3m capitalinvestmentprogrammewillcontinue withmodernisationofthePortadownsite, whichwillincludeanadditionalusedcar display.
Wherecanyoutakeabusinessthatâs beenaroundfor50years?âWeârealways ambitious,âPaulsays.
âInthelastfveyearswedemonstratedthat byopeningagreenfeldsiteinNewryand transformingitintowhatitistoday:thereare over200vehiclesonthatsite,threebrands, abiggerusedcarcentre,a rentalcentre,and a28-bayworkshopwhichisnownearlyat capacity. Weâvedemonstratedwecando thatinfveyearssowatchoutforthenext fve. Weârealwaysexploringwaystoimprove ourcommunicationwithcustomersandstaff, evolveandbeaheadofthecurve.Idonât thinkthatwillchange.â â
52
NE XT 20 0
53 APRIL 2024 Paul Ward NE XT 20 0
ÂŁ6mpartnershiptodeliverfast ďŹbrebroadbandforNIďŹrms
Telecoms ďŹrmBarclay Communicationsisteamingup withBTWholesaleaspartof a ÂŁ6m schemelaunchingfreeultra-fast ďŹbre broadbandbusinessesinNorthern Ireland.
Thepartnershipmeansbusinesseshere which haveaccesstoâFibre To ThePremisesâ(FTTP) technology â around91 % of ďŹrms â can converttoitatnoextracost.
TheÂŁ6mschemestreamlinestheconnection processforbusinesses, a signiďŹcantnumberof whichare unaware oftheiraccesstohigherspeedbroadband.
Thecollaborationhopestoconnect50,000of thosebusinessesbytheendof2024.
BarclayCommunications â whichworksacross businessmobile,landline,andITservicing around11,000 ďŹrms â hascollaboratedwith BTWholesaletolaunch a âFreeUltra-FastFibreâ initiativeaimedattransformingthedigital landscapeofNorthern Irelandâs businesses.
âBusinesseswillalsobeneďŹt fromourtop-tier, localcustomersupport,âJohnRoulston,Barclay Communicationsâsalesdirector, said.
âWe handletheentire installationprocessand continuetoworkcloselywiththecustomer thereafter, ensuring a seamlessexperience.Our goalistosimplifytheprocessforourcustomers, asweunderstandthatcomplexityoftendeters them. Weâre committedtomakingthetransition assmoothandstraightforward aspossible.â
Theinitiative,knownastheFreeUltra-FastFibre program,aimstoassistbusinessesgrappling withinadequatebroadbandservicesandthose seekinglargerbandwidthoptions.
âParticipantsintheinitiative receive complimentaryinstallation,FTTPdelivery,a new line/ONTbox,and a serviceupgrade,allwithout anyadditionalchargestotheirexistingmonthly fees,âitsays.
Unliketraditional ďŹbre connections,which relyoncoppercablesforthe ďŹnallegofthe journey, FTTPensuresthatbusinessesare directly connectedtothemostadvancedand reliable networkinthecountry, withnocoppercableor sharingwithneighbours.
âBusinesseshere inNorthern Irelandhavethe bestopportunitytoaccessthefastestspeeds availabletothem(FTTP),yetitstillshocksme
howmanyorganisationsstrugglewithpoor internetspeeds,âJohnsays.
âOurFreeFastFibre initiativeinpartnership withBTWholesale represents a signiďŹcantstep towardstransformingthedigitallandscapeof Northern Ireland,âBarclayCommunicationsâ founder, BrittMegahey, said.
âWe aimtoempowerbusinesseswiththe fastestavailableinternetspeeds,bridgingthe digitaldivideanddrivingeconomicgrowth inthe region. Withourdedicatedteamsand BTWholesaleâs expertise,weare conďŹdent thatthisinitiativewillbe a game-changerfor Northern Irishbusinesses.â
AndKatrinaOâMahony, seniorsalesmanager, BTWholesale,said:âWe are pleasedtobe workingwithBarclayCommunicationsto deliverthisinitiativetosupportNorthern Irelandbusinesseswithfree,ultrafast connectivity
âAspartofourinvestmentintheprojectwe haveprovidedtheinitialupgradetoFTTPand thecollaborationmeanswecanmake a huge differenceforNorthern Irelandbusinessesof allsizes.â â
54 NE WS
BrittMegahey,Barclay CommunicationsandKatrina OâMahony,BTWholesale
Tacklingthe northwestâs economy
NE SS START-UP
BUSI
Fromtourismtostart-upsandhospitality, Londonderryandthewidernorthwestoffers astrongeconomiclandscape,butwhyhasit takenthislongandwhatâsneededtoboostjob creation,businessessettingupshop,productivity entrepreneurship? PaulGosling takesacloserlook
Derryis,hopefully,a citywith a greatfuture.ItsCityDeal shouldproduce a substantialand attractive regenerationoftheriverfront area,alongwiththecompletionofthe conversionoftheformerEbrington barracks.
Whilethere isconsiderableirritationwithin thecitythatithastakennearly a quarterof a centuryto reachthisstage,progressisnow signifcant.
Thefour-starEbringtonHotelopenedlastyear, containing a spa, restaurantandbar, structured aroundthebarrackâs oldclocktower Adjoining itisthe WalledCityBrewery,a restaurantand bar AcrosstheplazaandjustopenedisStitch + Weave,another restaurantandbar The piazzaalsocontainsanothercafĂŠ,plusoffces. Planningpermissionhasbeengrantedformore offces,plusapartments,while a largegrade A offcedevelopmentisnearingcompletion.
Alastheothermainintendedriverfront regenerationsite â FortGeorge â showslittle progresssincetheturn ofthecentury There isalsofrustrationinthecityattheslowspeed inachievingtheintendedexpansionofthe universitycampus.
Derryis a beautifulandfriendlycitythathas notachieveditspotential.Locationisone reason â itisattheendofthe roadforthose leavingBelfastandliterally a cross-bordercity withsuburbslocatedintheRepublic.And Donegalhasthesouthâs worstunemployment statistics,justasDerryhasthenorthâs.
Butthatcross-borderlocationprovidessome ofthebestopportunities.Derryisthepoint atwhichtheRepublicâs highlysuccessful WildAtlantic Way connectswiththeNorthâs beautifulCausewayCoast.There are surely businessopportunitiestoexploitthis,justas hotelsinDerrypromotethemselvesasbeing withineasy reachofsomeoftheworldâs most
highlyratedgolfcourses â
Overtime,theNorthern IrelandProtocol and WindsorFrameworkshouldalsobeneft thecity Theairportandseaporthavelarge amountsofadjoininglandthatcouldbe usedformanufacturingandlogisticshubs. Ideally, thispotentialwillbemarriedtothe opportunitiesforlowcost renewableenergy productionfromtheadvantageousgeography Wind,tidalandgeothermalexploitationare all possiblewithinthewider region.
Despitethis,itwouldbewrongtoignore the challenges.Atpresent,there are insuffcient visitorattractionsfortourists.Thecouncil hopesthiswillbeaddressedbytheDerry NorthAtlanticMuseum,locatedwithinthe EbringtonBarrackssite.Thiswillexplainthekey roleofthecityduringtheSecond World War, withtheGermanU-boatfeetsurrendering andscupperednearbyintheRiverFoyle.The
56 BU SI NE SS START-UP
onbothsidesofthe border
sinkingofpartoftheSpanishArmadaclose byisalso recordedinwhatisnowthe Tower Museum,whosecollectionwilltransfertothe newfacility, constructionofwhichbeginslater thisyear
Whetherthisissuffcienttosparkthesizeof tourismmarketthatis requiredisuncertain. Otherproposalshavebeenmade,including a whiskeydistilleryvisitorcentre.Thehospitality infrastructure isdisadvantagedbythenumber ofvisitorswhoatpresentstayforjustone night.Italsohastonavigate a signifcant divergencebetweenthevisitorand resident demographics.Whiletouristsseekqualitymeals andentertainment,thecityhaslowerthan averageincomes â sopartsofthehospitality sectorstruggletosurvivethewinter There is signifcantchurn amongcafes,forexample, whilethere are highlevelsofvacancyamong retailproperties.
Seagateisthelargestprivatesectoremployer,
whileseveralfntechandothertechnology businessesprovidewellpaidemployment. Someofthesewouldliketoexpandfurther, butstrugglewithlocallabourmarketskill shortages.
Withonly a smalluniversitycampus â itisset togrowto6,500students â Derryhastoo fewgraduatesinitspopulation,alongwith notenoughpeoplewithhighlevelvocational qualifcations.Forthecitytodevelop a really strongandwellpaideconomy, itisessentialto growthenumberofpeoplewithlevel 4 to 6 qualifcationsandskills.
SirMichael Lyonsâ reviewofInvestNImade clearitneedstopaymore attentiontothe northwest.Promotionofthe regionshould surely recogniseitscross-borderlocation, inwhichthelabourmarketandtravelto workareasitsacrosstwojurisdictions.This wouldpromote a largerpoolofhighlyskilled labour, whilecreatingopportunitiesfor InvestNItoworkcloselywithIDAIrelandand otheragenciesacrosstheborder Thismight potentiallyinvolvethegovernmentsworking togethertopromotethe region.
Derryhascomparativelylowproductivity âthere isnogreatmysteryaboutwhy Theskills baselineisinadequate;transportinfrastructure ispoor, withslowtravelconnections,whether bycar, busortrain;whilemanyoftheexisting jobsare insectorswhichthemselvesare
inherentlyweakinproductivity Muchof thelocalemploymentisinthepublicsector, includinghealth,whileprivatesectorjobsare oftenin retail â whichisindeclineandpoorly paid.
Where Derryhasbeneftedisfromthenumber ofentrepreneurswhohave returnedâhomeâto thecityhavingdevelopedskillsandexperience elsewhere.Theyhavecomebacktothecity becauseoffamily, thefriendlyenvironment andthebeautyofDerry, thenorthcoast andDonegal.Insomecases,these returnees havecreatedhighlysuccessfulandverylarge businesses.
However, self-employmentinthecityis notablylowerthaninNorthern Irelandas a whole â 13%,against16%.Thisisanother areathatshouldbetargetedforexpansion. LivingcostsinDerryare lowerthantheNI average,whilethequalityoflifeishigherin termsofthebeautyofthelocalcountryside, whiledigitalinfrastructure inthecity(though notinallthenearbylocations)istypically excellent.Thishasledtothecitybeing promotedasanidealplacefordistanceand homeworking âa sectorthathasthepotential toexpandsignifcantly
Derryoffersexcitingopportunities.But itslocationalsoprovideschallenges. Entrepreneursconsideringthecityand region mustweighupboth. â
57 APRIL 2024 BU SI NE SS START-UP
DerryâsGuildhallin thecentreofthecity
TheDerry Walls lookingtowards theBogside
YellowDoorextendshospitality contractwithUlsterRugby
Cateringbusiness YellowDoorhas securedanextendedhospitality contractwithUlsterRugby.
Thefrm,ownedbytheArmagh-based DouganFamily,hasextendeditstermsasthe cateringpartneratKingspanSeasonuntilat leastJune2025.Itâsheldthecontractforthe last11seasons.
ItsaysitâsinvestingÂŁ100,000innew equipmentforthestadiuminitsbidtoextend itshigh-qualityfoodandservicesatevents.
Thecontractincludesprovidinghospitality servicesinthestadiumâsSpiritofâ99lounge, A&LGoodbodyLoungeandexecutiveboxes, aswellasinthenewRavenhillSuiteinthe AbbeyAutolineFamilyStandwhichseatsupto 35guests.
âAvenuesuchasKingspanStadiumnever standsstill,âdirectorAndrewDougansaid. âForus,matchdaysareunique,andstillhold averyspecialplaceinourcommunity.Allofus
involvedwantthevenueutilisedallyear round, includingthroughthecorporateeventswerun onnon-matchdays.
âOurfocusinthestadiumandacrossour businessiscontinuingtopracticeassustainably aspossible.Thekeythingforusisfrstlybuying everythingwecanlocally,notleastbecause ourfarmersandgrowersproducesomeofthe bestfoodintheworld,developingseasonal menustoeliminateasmanyfoodmilesand asmuchpackagingfromoursupplychainas possible.
âSustainabilityhasrisenrighttothetopofthe corporateagenda.Luckilythecoreprinciples andethics,which YellowDoorfoodisbased on,iswheremostfoodproducersandcaterers wouldliketobe. We focusoninstillinga passionforlocalqualityinourkitchenteams whichforusisthebiggesttoolinbeinga sustainablefoodbusiness.
âWeâvedevelopedafantastic relationshipwith UlsterRugbyovertheyears,andweanticipate
evenmoresuccesstocomefromourfruitful partnership.â
YellowDoorcurrentlyemploysover300fulltimeandcasualstaffacrossitsdeliandevents functionswhichincludeweddingcateringand outdoorevents.Italsoholdsthecontractwith Catalyst,theInnovationCentreinBelfast.
Thefrmisalsocurrentlyjointpartnerwith MountCharlesinHospitalityBelfast.
DavidEdwards,salesexecutiveatUlsterRugby, said:âAtKingspanStadium,weârecommitted toprovidingaworld-classexperienceforour spectatorsandvisitorstothestadiumand, aspartofthisambition,wewanttooffera top-qualityfoodandcateringserviceacrossour variedhospitalityspaces.
âWearelookingforwardtocontinuingour partnershipwith YellowDoor,asweâreconfdent that,asateam,wecancontinuetodelivera topnotchofferingtothosevisitingthehomeof UlsterRugbyonmatchnightsandbeyond.â â
58 NE WS
AndrewDougan,Sam Netherton,andClodagh Meylerof YellowDoorwith UlsterRugbyâsDavidEdwards
Thecolumnwithan earforexperience...
Howdidyoustartoutinyourbusiness?
Mycareerpathevolvedorganically.Iworked foralargecorporationfor20yearsand eventuallywenttoworkformycurrent employer,leadingITservicesprovider, Qualcom.
Thiswasverymuchanaturalprogression.I wasinstrumentalinsettinguptheUKarmof thebusinessandamnowitsmanagingdirector andaShareholder.
Whathaveyoufoundthemost challengingduringyouryearsofbusiness, sofar?
Likemanybusinesses,wefoundtheCovid yearsdiffcultaswehadtopausealotofour retailservicesandadjusthowweworked. Weâregrowingquicklynow,andthisalsohas itschallenges.
Howwouldyoudescribeyour managementstyle?
AtQualcom,wehaveateamofover75 professionalsthatpartnerwithmorethan500 clientssituatedacrossNorthernIreland,the RepublicofIreland,the restoftheUK,andthe ChannelIslands.
Ifostertrustbyprovidingguidanceand supportwhileempoweringmyemployees tomaketheirowndecisionsandlearnfrom theirmistakes.Ialwaysmaintainasupportive distancetoallowthemtoshowcasetheir abilities.
Whatwouldyouchangeifyoucouldgo backanddoitallagain?
Notathing.Iâmdelightedwithhowmy careerpathhasunfoldedandenjoyhelping toleadanorganisationthatiscommittedto
Name: LeeannSaunders
Position: Managingdirector,Qualcom
redefningtheITexperienceandtoensuring thatbusinessescannavigateandexcelinthe ever-evolvingdigitalworldwithconfdenceand ease.
Haveyoudoneitallonyourown?
Absolutelynot,Icouldnothavedoneanyof itwithouthavingthebestpeoplearoundme, pastandpresent. We areonlyasgoodasthe peoplethatwesurroundourselveswithandI havebeenincrediblyluckytohavethesupport andunderstandingofmyfamily.
Howwouldyoulikeyourbusinesstobe remembered?
IwouldhopethatQualcomis rememberedas astrategictechnologypartnertoeverytypeof business. We deliver round-the-clock,tailored
supportandseamlesslyintegratetechnology intoourcustomersâoperations,fostering growth,effciency,andsustainedsuccess.
We wanttoempowerbusinessestonot justsurvivebuttrulythriveinthemodern digitallandscapeandarefrmbelieversthat innovationand reliabilityarethecornerstones ofsuccessintodayâsdynamicbusiness environment.
Whatpieceofadvicewouldyougivetoa 20-year-oldyou?
Iwouldtellmy20-year-oldselfthateverything happensfora reason.Stormswillalwayscome buttheywillalsopass,anditishowwedeal withthemthatmakesthedifference.Itâsall about resilience. â
59 APRIL 2024
NOELDOYLE FASTTECHNOLOGIES
Howisbusiness?
Itâsbusy. Weâreworkingonsomevery excitingprojectsandweâregrowingindirect responsetoincreasingdemandfromthe smartmanufacturingindustry.OurA2Hub, basedinDerrycityisagoodexample.Itâs anindependent,creativespacewherewe canworkwithourcustomersonaone-ononebasistofullyunderstandtheirdigital transformationneeds.Iâmalsoworkingonthe developmentofourFastSoftwarebrandand puttingthestructuresinplacetodrivegrowth withinthiskeypillarofourbusiness.
Howdidyougetstartedintheindustry?
Igraduatedinmathematicsandthen completedapostgradinmarketingâa slightlystrangemix.So,Istartedmycareer inamarketing rolewithinamanufacturing business,howeverIsoon realisedthatI couldaddbestvaluebyidentifyingprocess improvementsintheorganisationand lookingforsolutionstomeetthoseneeds. FormostofmycareerIâvebeenluckyenough tobein rolesthatallowmetousecreative solutionsandtechnologytotransform practices,processesandprocedureswithin anorganisationtodeliversuccessfulbusiness outcomes.
Typically,whoareyourclientsor customers?
Fastisaleadingproviderofautomationand technicalsolutions.Ourclientsaretypically attheearlystagesofadigitaltransformation journeyandtheirgoalistofndoptimum solutionstoincreaseoperationaleffciencies andimprovedatacontrol.Ourbusiness modelenablesustopartnerwithbothglobal organisationsandlocalmanufacturingSMEs, takingthetimetofullyunderstandtheirneeds beforeadvisingthemontherightsolution-be that robotics,automation,orsoftware.
Doyouenjoywhatyoudo,andwhatin particular?
TherehasnâtbeenadaywhenIhavenât enjoyedbeingpartofFast.Iworkwith agreatteamoflike-mindedpeopleina companywhichisinvestingand recruiting inanever-expandingsector.Thecompany
Entrepreneur ofthe Month
hasalsogivenmethe responsibilityand autonomyfordevelopingitssoftwaredivision whichisafantasticchallenge.Asaseasoned âwantrepreneurâ,Iâm relishingthechance tobringthebusinessplantogether,identify opportunitiesandnurturepartnershipswithin theindustry.
Whatisthemostdiffcultpartofyourjob?
Assoonaswepartnerwithclientswecan delivervalueforthem.Probablythegreatest challengeisgettingthismessageoutto prospectiveclients.Somemayhaveworked withothersandtriedsolutionswhichfailed, makingthemapatheticor reluctanttotry again.Therecanbeaperceptionthatsome oftheIndustry4.0solutionsaretheluxuryof largerenterprises.Ourmarketingteamhas beenchangingthismindsetandsomeofour most rewardingworkhasbeenpartnering withlocalSMEstosuccessfullyacceleratetheir digitaltransformationpathway.
Additionally,IâmfullytrainedinSIRI(smart industry readinessindex).Astheworldâsfrst independentdigitalmaturityassessmenttool ithelpsmanufacturersâ regardlessofsize andindustryâtostart,scale,andsustaintheir transformationjourneys.MycolleagueMark andIaretheonlytwocertifedSIRIindustry assessorsontheislandofIrelandwhichisa hugebonusforourcustomers.
Whatarethechallengesfacingyoursector andtheeconomyingeneral?
TheNorthernIrelandeconomyisgoing throughaperiodofchangeandisfacingmany challengesâparticularlyincreasingenergy costsandlabourshortages.Businessesknow theyneedtoaddressthisbyengagingin digitaltransformation,butdonâtknowhow orwheretostart.Thereâsalotofinformation oninnovativetechnologiessuchasâIndustry 4.0âbutitcanbediffculttofullygraspwhich solutionisthebestft. â
60
The Australiantransforming acastleandestatebusiness inCoArmagh
SM E& FA MI LY BUSI NE SS
MickBoyle,ownerofKilleavyCastle,isnât quitedoneyetworkingonhislandmark property,hetells MargaretCanning
AtfourinthemorninginSydney, March2013,Killeavy-bornMick Boyle restoredalinkwiththe villageofhisparentsâbirthbybuyingits neglectedcastleandestate.
Justoveradecadelater,thankstoworkled bythecivilengineer,theestatenowhasa well-established,four-starhotelinanewlyconstructedbuildinginthegrounds,itscastle restoredasavenueforprivateevents.
ItwasnamedNorthernIrelandHotelofthe YearbytheAAlastyearbut60-year-oldMick, hereonatwo-weekvisitfromSydney,says thereâsmuchfurthertogo.Iinterviewthe softly-spokenAustralianinthedrawing room
ofthecastle,withthefrecracklingawayin thebackground.
âItâslovelyseeingit renovatedlikeitisnow, andpeopleenjoyingit,âhesays.âItâsavery satisfyingfeeling.ButIstillfeelthatIâm onlyhalfwaythroughthe renovationand restorationprojects.
âForthenext10years,weârefocusedon theupperfarmlandandthewoods. Weârein theprocessatthemomentof removingthe plantationsprucetimberthatâsonthehigher partoftheestateandweâllstartlaterthis yearplantingitoutwithnativewoodland⌠itâlllookverygoodin20yearsbutitâlllook wonderfulin200years.â
MickboughttheestateforÂŁ1.19m,ashort timeafterfndingoutitwasforsale.âIhad someonebiddingformeandwassittingatmy diningtableinSydneytalkingitthroughon thephone.Itstartedatabout1amformein Sydneyandwentthroughtillaboutfourinthe morning.â
Hedescribesitasaâgreatprivilegeanda great responsibilityâtoownthecastle,builtin theeighteenthcenturyasalodge,andlater convertedintoacastle.Itâsbeenoccupiedby threefamiliesupuntilnowâtheFoxalls,who builtit,theGillespies,who rentedit,andthe Bells.
Mickwasnostrangertomassiveconstruction
62 SM E& FA MI LY BU SI NE SS
andinfrastructureprojectswhenwork beganto restorethecastle.Heisexecutive chairmanofAbergeldieComplex Infrastructure,abusinessheandRobin foundedinNewSouth Walesemploying800 people.Itsaimistoimprovecommunities throughinfrastructure.
HisparentsMichaelandPaulinewerefrom KilleavybutmetinLiverpool.Theymarried andstartedafamilythere,beforeemigrating toAustraliain1968andlivinginamigrant hostelfortwoyears.ThathasshapedMickâs viewoftheworld.âYoudounderstandhow luckyyouaretobeabletobeamigrantand startanewlife,andAustraliahasbeenvery goodtome.Itisverymulti-cultural.â
Withthecastleandestatebought,work startedtoseekplanningpermission,followed byatwo-yearbuild.Bothhissonanddaughter joinedtheirfatherinCoArmaghwhilethe workwastakingplace.
Thedelicate restorationofacastlewasa changefromtheworkMickandRobinhave ledatAbergeldie.
âWedocomplexinfrastructure,allupand downtheeastcoastofAustraliaandNew Zealand.Atthemoment,ourbiggestjobis inAucklandinNewZealand,installingwater treatmentplantsandtunnelsinamajor upgradeoftheseweragesystem. We doquite abitofthatsortofwork.
âWeâreprobablyoneofthelargestlocallyownedconstructioncompaniesinAustralia.â
Alongwiththosecommitmentsbackin Australia,heâskeepingacloseeyeonhowhis NorthernIrelandbusinessisperforming.
âItâsperformingquitewellforanew-start business. Weârejustgoingfveyears,andone andahalfofthoseyearswasCovid.Itâsstill quiteayoungbusiness,andweârebuilding awarenessandknowledge,andpeopleare learningaboutus.
âItâsdoingwellbutitwilldoalotmore,and itwillbeaplacepeoplewillcomealloverthe worldtofnd. Weârenotthereyetbutweâve gotambitionstobeoneofthosedestination hotelsthatpeoplewanttogotoontheisland ofIreland.â
Heâspleasedtoseethe restorationofdevolved governmentinNorthernIreland,andtheday beforeourinterview,hewelcomedEconomy MinisterConorMurphyonavisittothehotelâlocatedinhisNewryandArmaghconstituency.
âYouknow,itâsabigstepforwardforbusiness andforallmannersofthingsthatyouhavea governmentinplace,âMicksays.
âTherearehugeopportunitiesforNorthern Ireland.
Themigrantstoryofbuyingabusinessback hometokeepintouchwithyour roots mightbeoneweassociatemorecloselywith AmericansthanAustralian.ButMicksays Australianscanharbourjustasmuchfondness intheirheartsfortheir roots.
âAustraliansborninIrelandalwayshaveavery softspotforit,andIthinkyoucanlovetwo places,sameasIdo.Ithinkyoumustbeable to,youcanlovetwochildren,soyoumustbe abletolovetwocountries.â
Hesaystherecouldbefurtherbusiness opportunitiesforhimelsewhereinIreland.
âItravelledwiththeIrishAustralianChamber ofCommercelastyear,andwehadsomegood discussions,andwedidtravelnorthandsouth lookingatbusinessopportunitiesbetweenthe twoplaces.Therearealotofconnections.
âThereâsno reasonwhynorthandsouth canâttradetogetheralot.Itâs reallythe governmentsâjobtomakeitaseasyas possible,becausetradeishowyougenerate wealthandwealthishowyoulookafterthe people.â
HehasdevelopedabusinesscalledArdent Underground,whichharnessesAbergeldieâs expertiseinproductionofdeepshaftsâand thatcouldhaveanapplicationinNorthern Ireland,Micksays.
âAbout20yearsagowedevelopedaworldleadingabilitytodeveloplargediameter deepshafts,andtheyâvegenerallybeenfor ventilationshiftsforcoalmines.
âAbouteightyearsagowestartedtolook athowwecouldusethatcapabilityfor theenergytransitionsoweâvedevelopeda technologytobuildundergroundhydrogen storagetanks.â
Fornow,the restofhistwo-weekstayon KilleavyCastleEstatewastoinvolveâworking withtheteamhereandseeinghowIcan helpâ. â
63 APRIL 2024 SM E& FA MI LY BU SI NE SS
MickBoyleof KilleavyCastle Estate
Signsofoptimismbutwecanâtmiss windowtogetenterprisesuppor t right
EnterpriseNI andtheLocalEnterpriseAgency(LEA)networkstandreadyas theon-the-groundforcedeliveringtherightsupportattherighttimetolocal entrepreneursandbusinesses,whichiscriticalifwearetoachievethethriving regionallybalancedeconomyenvisagedbyEconomyMinisterConorMurphy, writes MichaelMcQuillan, EnterpriseNIchiefexecutive
There remains a needforaccelerated collaborationandpartnership betweengovernmentandkey economicdevelopmentstakeholders,with localbusinessesandentrepreneursatthe centre,inordertocapitaliseontheseeds ofpositivitycurrentlyfeltwithinthelocal smallandmicro-businesssector
EnterpriseNIâs 27memberorganisations(LEAs) manage64locationsthroughoutNorthern Ireland,providingsupportedworkspaceto more than2,700localstart-up,micro andsmall businesses.
WithandthroughtheLEAnetworkENI engageswithmore than3,500localbusinesses everyweekplacingus,critically, atthecentre oflocalsocio-economicdevelopment. Withthis levelofconnectivity, weare ideallypositioned todeliver a highlyeffectivelocalenterprise supportservice,providingtherightsupportat therighttimetolocalstart-ups,establishing andgrowingbusinesses â providingthelocal start-upandenterprisegrowthnecessaryto achievethe regionallybalanceddevelopment ConorMurphyhasmadeoneofhisfour priorities.
Thecomingofspringcoincidingthe return of theinstitutionshaveundoubtedlybrought a senseofoptimismwithinthestart-up,small andmicro-businesssectorthathasnotbeen feltforsometime.
AtEnterpriseNI,weare alsoseeingthat enthusiasmandoptimismthroughthehealthy pipelineofenquiriestothenewGoSucceed programme,andweare justabouttosign-off 2023/24asthebiggestyearforStartUpLoans disbursementinNI,sincetheinceptionofthe fundin2013,theministerhasoutlinedthe needforco-creationandpartnershipworking
amongkeyenterprisesupportorganisations.
TheENInetworkwelcomesthisapproachas ithasthepotential,iftrulyimplemented,to unlocksignifcantlymore valueintermsof therightsupportsforlocalbusinessesatless cost. Withthisinmind,theappointmentofDr ConorPatterson,chiefexecutiveatNewryand MourneCo-OperativeandEnterpriseAgency, andoneofENIâs foundingmembers,asan advisertotheminister, on regionalbalance,is a welcomemove.
However, despitetheoptimismundoubtedly beingfeltamongemergentstart-upsright now, thecostofdoingbusiness remains a concern.EnterpriseNIâs EnterpriseBarometer 2023foundcostpressuresare affecting52% of respondentsâbusinesssustainability In this regard,the recentlyannouncedSpring Statementcouldhavegonefurtherinits supportofstart-upsandsmallandmicrobusinesses.
Forexample,measuressuchasincreasing the VAT thresholdfromÂŁ85,000toÂŁ90,000
are welcome,however, infationarypressures and a seven-yearfreezeontheratepreviously willmeanthatmanylocalsmallandmicrobusinesseswillhavealreadycrossedthisnew threshold.
Thisyearwewillbeworkingintensivelywith centralgovernment,localgovernment,and keysupportecosystemorganisations,using thestrengthandaccuracyoftheBarometer fndings,tocontributeconstructivelytoshaping howlocalstart-upandbusinesssupportis delivered,goingforward.
DuringtheStPatrickâs Day WashingtonDC engagementsthere seemstohavebeen a renewedwaveofoptimismpointedinthe directionofNorthern Ireland.
We must,collectively, notmissthisopportunity togetlocalenterprisesupportright.The EnterpriseNILEAnetworkstands readytoplay itspart. â
For more information,get intouchat www.enterpriseni.com
64 SM E& FA MI LY BU SI NE SS
AmyJunkin,EnterpriseNIwithLEDCOMchiefexecutiveKenNelson,EnterpriseNIchiefexecutiveMichaelMcQuillan andCatherineAnderson,LEDCOM,picturedattheirhotdeskingfacility,The WorkCubeinBallyclare
OâReillyâsWholesale: marking65 yearsasanaward-winningbusiness
OâReillyâs WholesaleLtdisanawardwinningwholesalerwhichwill sooncelebrate65yearsinthe wholesaledistributionbusiness.
Inthiscelebratoryyearitwillunveilan ambitious10yeargrowthplanasitembarks on a numberofprojectsthatwillachievethose ambitions,expanditsnetworkthroughoutthe islandofIreland,the restoftheUKandfurther exportmarkets.
DerekOâReilly, long-standingmanaging director, isveryproudofwhathisbusinesshas achieved,especiallywhenthehurdlesofthe lastfewyearsare considered.
âThecompanycontinuestoincorporatethe highlevelskillsetsofourpeopleacrossthe business,âhesaid.
âWe have a superworkforcesupportedat alltimesbyourtopmanagementteam. We employ114peopleandtheykeepthecogsin ourwheelsconstantlyturning.â
DerekOâReillyhasaneaseinhisapproachto hisdaily routineatthebusiness.Hearrives before mostandleavesaftermost.Itishislife. Hehaslivedandbreatheditsincehejoined thefamilycompanyattheageof16.Henow has49yearsofwholesalenotchedonhisbelt. Derekhasleadhisbusinesstobringittowhere itistoday â nowsittingamongthebestofthe Next200listinthiseditionof UlsterBusiness Thisthird generationbusinessisshowing greatyear-on-yearperformance.Providing employmentto114peoplefromthegreater Newryarea,OâReillyâs hasitssightsonbuilding theirnewoperatingfacilitynottoofarfromits currentfacility
Inordertoimplementthefrmâs 10-yeargrowth plan,twonewappointmentshavebeenmade.
SineadLavery, previouslyheadoffnance,has beenappointedfnancedirector Shehasbeen
withthecompany10yearsandhasplayed a verysubstantialpartinthedirectionofits fnancialgoalsandgovernance.
AnneOâReilly, headofbusinesshasbeen appointedcompanydirector Annehasbeen withthecompanyforeightyearsandwill overseeandmanagethestrategyofthe ambitiousbusinessprojectsandseethatthe10 yearplaniskeptontrack.
âIdonât thinkthere isanymore elasticityinthe wallsofourcurrentwarehouse,âshesaid.âWe havesqueezedeverylastinchofspace â the wallshavebeenstretchedtotheirlimitsâ.
Sixtyfveyearsis a milestoneinanybusiness andassuchneedstobeshoutedaboutand celebratedespeciallywhentheyear-on-year growthiscontinuallyexceedingtheprojected growth.
AlthoughturnoverofÂŁ42m(upfromÂŁ36m 2021)islistedinthecurrentNext200and
relatesto2022fgures,themost recent September2023turnoverisÂŁ55m â an increaseyearonyearofover30%.
AnneOâReillysaid:âWhileexpansionand growthisattheheartofourfuture strategy plans,wearea responsibleemployerandour engagementwithourworkforce,especiallyin relationtotheirhealthandwellbeingishighly importanttous.
âWe recognisethatinparticular, mentalhealth issuescanvisitanyoneofusatanytime. I am proudtosay I havetrainedas a MentalHealth FirstAider, ashavethreeofmycolleagues. We seethissupportashaving a positiveimpacton ouremployeesandtheirfamilies.â
DerekOâReillycontinuesday-to-daytolead thebusiness,hissightsalwaysonsomething biggerandbetteranditcertainlylookslike heisachievinghisambitionsforthecompany startedbyhisfather, BobOâReilly, some65 yearsago. â
SM E& FA MI LY BU SI NE SS
66
OâReillyâsthanksstaffmembersPaulKeenan,JohnChambers,DerekOâReilly,RaulReganandBryanOâHarewhohave acombined105yearsofexperiencebetweenthem
Bushmillsunveilslimited editionspecialreleaseonlyon saleatBelfastwhiskeyshop
Bushmillshasunveiledatopend speciallimited release36-year-old singlemaltwhiskeyâtheoldest soldintheEuropeanmarket.
TheBushmillsHillStreetEditionwascreated forBelfastwhiskeyshopTheFriendatHand âownedbypublican WillieJack,whoisalso behindtheDukeof YorkandHarpbars.
Itâsalimited release,onlyavailableatthecity centreshopâwhichalsohousesoneofthe worldâsgreatestcollectionsofIrishwhiskeyâwithsome208bottlesproduced.
âBelfastâsproudindustrialpastandrich whiskeyheritagepavedthewayforacraft that,centurieslater,continuestostandthetest oftime,â WillieJacksaid.
âWeareproudtopartnerwithBushmillson thisexceptional,36-year-oldwhiskey,which payshomagetothehard-workingpeopleof
HillStreet.Itâsfttingthatoursharedheritage andspiritofcollaborationarecommemorated inthisspecial release,which,withjust 208bottlesavailable,issuretobeinhigh demand.â
BondedwarehousesoncelinedHillStreet,and Bushmillsbarrelswouldhaveonce rolleddown itsnowiconiccobblestoshipsdockedonthe FarsetRiver,tobetransportedtodestinations aroundtheglobe.
Over135yearson,theBushmillsHillStreet Editionwillmakehistoryastheoldestever Bushmillsexpressiontobe releasedinEurope. Thespiritwasdistilledin1986and re-caskedin asherryhogsheadcaskinMarch2001.
âIneverybottleofBushmills,wehonourour pastandtheimmensepassionandpatience requiredtocrafttheworldâsmostexclusive singlemalts,âBushmillsmasterblender,Alex Thomas,said.
âItismyprivilegetobringthisexceptional whiskeybacktoBelfast,tothesiteof BushmillsâformerheadquartersonHillStreet, inwhatisamilestonemomentforthebrand.
âItsexceptionallysmoothcaramelisedfruitand honeyfnishandrichgoldenchestnutcolour isatestamenttothetimeithasspentincask. Thisisaonce-in-a-lifetimewhiskey.â
Presentedinahexagonalbox,handcraftedin blackAmericanwalnut,andadornedwithan intricatemapofBelfastetchedingold,the BushmillsHillStreetEditionwilltakeprideof placeinTheFriendatHand,inafttingtribute tothebrandâsformerheadquarters.
TheBushmillsHillStreetEditionisbottledat 48%andispricedatÂŁ5,000for700ml.
Thelimited-edition releaseofjust208bottles isavailableexclusivelyforpurchasefromThe FriendatHandinBelfast. â
68 FOOD& DR IN K
TheBushmillsHill StreetEdition
NIâsagri-food sustainability challenge
AGRI BUSI NE SS
Sustainabilityandregenerationmustbefrontand centreforNorthernIrelandâshugeagri-foodsector, accordingto FoodNIchief MicheleShirlow.She speaksto JohnMulgrew aboutputtingusonthe worldstage,whyproductslikebeefcanbepart ofasustainablefoodfuturehere,andhowfarour hospitalitysectorhascomeinthespaceofadecade
Northern Irelandâs agri-foodsector has a âchallengingâsustainability and regenerationjourneyaheadin thenextfewyears,accordingtooneofthe regionâs foodleaders.
âIfeelsustainabilityand regenerationis somethingwhichNorthern Irelandisgoing tograspinnextfourtofveyears,âMichele Shirlow, chiefexecutiveofFoodNI,told Ulster Business
Butshesayswhilemuchwillbedoneto promoteNorthern Irelandon a globalstageas both a topproducerandonewhichisleading thewayintermsofsustainabilityandabilityto tackleitsimpactontheenvironment,as a small region,itcanachieveit.
âAt a farmlevel[weare lookingat]mapping everyfarmtolookatcarbonfootprint,âshe says.âWe needtoseethatacrossthesupply chain.Northern Irelandissmall,butwecando
thosethings â fromfarmtofork.â
Micheleâs acutelyaware ofjusthowfar Northern Irelandhascomeinthelastdecade âintermsofthequalityandrangeoffoodand drinkbeingproducedhere.
âWeâvemovedontremendously, particularly intermsofinnovationandproduce,withnew businessescomingalong.
âNorthern Irelandhospitalityissufferingat themomentbecauseofthingslikeincreased electricitycostsandstaff,butweare stilllucky tohave a fourishingindependent restaurant scene.
âOnething I loveiswedonât have a lotof chains â wehavegoodquality restaurantsand hotels,owner-operated.
âThereâsa wholenewgenerationofchefs
70 AGRI BU SI NE SS
comingalong.Theotherthingmaking a differenceisthevolumeoflocalproduce.
âTenyearsagoyoudidnât havefarmhouse cheeseandicecreams,forexample,andnot therangeofbeers,ginsandwhiskies.
âTheresanexcitingbunchof restaurantsout there,comingthroughinthingsliketheGood FoodGuideandMichelin âI thinkweare very blessed.â
Michelesayswhilethepandemicsetusback, Northern Irelandhasfrmlysetitselfupas a fooddestinationforvisitors.
âAdecadeagoyoudidnât have restaurantslike OX,Muddlerâs CluborEdo,forexample â we wonBestFoodDestinationon2018.
âThepandemicsetusback a bit,butwe are movingforward againmore tourism
experiences. A lothashelpedwiththechanges inlegislation,especiallyaroundlicensing.â
Northern Irelandhospitalityisstillsuffering from a rangeofchallengeswhichhasseen manyspots,especiallyinBelfastcitycentre, openingjustfourdays a week.
âRestaurantsare doingtherightthingandnot losingmoney â openinganddoing a goodjob withthestaff theyhave,âMichelesays.
AndMichelewilltraveltoRomanianextmonth tohelpsellNorthern Irelandtothewiderworld, withaneventfocusingonthefuture offood anditssustainability
UlsterUniversityisco-hostingthefrst RegenerativeHospitalitySummit,whichwill takeplacein Transylvania,Romania,next month â with a bigfocusonsustainability
âItâs aboutgettingoutthere andnotbeing insularaboutfoodanddrinkhere,âshesays.
âRegenerationismuchmore important thansustainability⌠I feelsustainabilityand regenerationissomethingwhichNorthern Irelandisgoingtograspinnextfourtofve years.â
Intermsofherownday-to-day roleaschief executiveofFoodNI,shesaiditâs comeback strongfollowingthepandemic,working on a numberofcampaigns,includingthe âPowerofGoodâ,alongwithfuture ongoing developments.
AndtheBalmoralShow remains a keypart inFoodNIâs yearanditsopportunitytohelp showcaseourtopproduce.
Shesaidaround100companiesand80buyers willbeinvolvedwithFoodNIattheshowthis year
âWeâvequitequicklyturned a corner â from thecost-of-livingcrisisand recession,inthelast month â weare nowseeing a lotofinterestin retailerslookingfornewproducts.Thatcomes inlinewiththetrendinsustainabilityaswellas innovation.â
WithNorthern Irelandhaving a hugeagrisector, withtraditionally a bigfocusonmeat anddairyproduction,thesustainabilityand
greencredentialsofareaslikebeefandlamb productionwillundoubtedlycometothefore.
âBeefispasture fed,âMichelesays.ââŚwe donât havemanybigintensivestore houses. Beefisgoingtoemergeas a relatively sustainable[foodproduct]asthere isnât grain feeding.
âIthinkweneedtheevidencetoshowthat. Theotherencouragingthingisthere hasbeen somuchdiversityinthesectorwithpeople addingvalue.â
ShesaysthatincludescompaniessuchasMash Direct,Gilfresh,Milgro and AvondaleFoods, whichmake a rangeofaddedvalueproducts usingtheirownproduce.
âWhenwesetoutwewere beefanddairy dominated,butthere area lotofnewsectors emerging â there is a lotofscopeinagritourism,âMichelesays.
Butshesaysthattransitionâwillbe challengingâ.âIthinkwewillbeinprime positionas a qualityproducerofbeef[on a globalscale].â
Asforthenextbigthinginagribusinessand hospitalityhere,Michelesaysitwillbeabout âpositioningNorthern Irelandas a regenerative placeforfoodanddrinkâ.
Andontheshowcasewhichisthisyearâs BalmoralShow, CormacMcKervey, senior agriculture managerwithprincipalsponsor totheshow, UlsterBank,saidheâs âlooking forward toexhibitinginthenewsustainability villageandshowcasingourrangeofsupportin thisareatoanyvisitorswhoare interestedin transitioningtogreenerbusinesspracticesâ.
âWithsomuchonoffer, thefour-dayshow demonstratesjusthowsuccessfulourlocal agrifoodsectorisandwithvisitorscomingfrom allovertheworld,showcaseshowNorthern Irishfoodandfarmershaveearnedtheir reputationforexcellenceon a globalstage.
âOfcoursetheshowisjustoneaspectofour supportfortheagrifoodindustrybutitâsa reallyimportantfourdayswhere weallputour bestfootforward andcelebratethewealthof innovationandtalentweare sofortunateto haveonourdoorsteps.â â
71 APRIL 2024 AGRI BU SI NE SS
MicheleShirlow
Itâsimportanttosupportourlocal suppliersnowmorethanever
HendersonGroupâs supportforlocal producerscanbetracedbacktothe organisations rootswhenitwas foundedin1897,andthatlegacycontinues todaythroughthecompanyâs SPAR, EUROSPARand ViVObrandsanditsmore than500storesacrossNorthern Ireland.
NealKelly, categorydevelopmentdirector atHendersonGroupsaystheyhavealways prioritisedlocalwhenitcomestosourcing, withover75%ofitsfreshfoodsourcedonthe islandofIrelandthrough180suppliers.
âItisimportanttosupportourlocalsuppliers nowmore thanever,âNealsays.âWe have beennurturingourlocalmarketofproducers fordecadesnow, helpingsmallercompanies intomarketandcreatingbrandnewproducts withfarmersandproducersacrosstheisland, includingTheKitchen,ourownbrandrangeof fresh,pre-preparedmealsforalloccasions.
âWe havealwayssaidthere issimplyno reason tolookanyfurtherthanourownlandforthe highestquality, whichinturn,helpsthelocal economyasoursuppliersfacecontinuedhigh costsaroundfeedandfuel.
âSimultaneously, shoppersare continuingto battleagainst a costoflivingcrisis,soweare puttingeveryefforttopositionourlocally sourcedproduce,meat,poultry, sandwiches andpre-preparedmealsfrontandcentre within ourstores, reďŹectedinmanyindependentand company-ownedstore openingsandupgrades in2023,whileinvestinginourpricingfor2024.
âOurfreshpropositionwillbebackedby investmentsinmarketingtohelpshoppersget themostoutofthehundredsofmealsand freshproductsavailablein-store throughour MealInspirationscampaign.â
HendersonRetailopeneditssecondinstore productionkitcheninEUROSPAR VictoriaRoad inCarrickferguslastyear, withexcitingplansto openthenextkitcheninthenewEUROSPAR Downpatrick,whichwillopeninApril.
âOurin-store productionkitchensinHenderson Retailstoreshave a fullteamofchefscooking upthelikesoffreshchickencurry, beefstew, spaghettiBolognese â thosefamilyfavourites whichare madefreshdailyin-store,andare readytoheatandeatathome,âNealsaid.
âFreshsalads,sidesandevenpastriesare cookedandbakeddaily, allusingthelocal producethatissourcedforourshoppers.It complementsouroutstandinghotfoodtogo offering,plusourrangeofsandwiches,wraps andsaladsinourDelishrange,whichisalso producedlocallybyAroundNooninNewry.â
HendersonGroupwillonceagainsupport Northern Irelandâs biggestagriculturalevent, theBalmoralShowwhenit returnstoBalmoral ParkinMay, withSPARNIas a platinum sponsorforthe13thyear Theon-siteteamwill putlocalproducersatthetopoftheagenda, showcasingown-brandsSPAREnjoyLocaland TheKitchen,createdincollaborationwiththeir localsupplierswithexclusive recipesthroughout
TheKitchencreatedbytheirin-housechef, CarlJohannesson.
SupplypartnersincludingDailyBake,K&G McAtamney, Davisonâs PudsandBigPotare all usedwithintheranges,whichcanbesampled byvisitorsthroughoutthefourdays.
âOnceagain,wewillhave a hugepresence atBalmoralShowwhere wecannotonly engagewiththeagri-businessandfarming communities,butalsoconnectthemwithour shoppersandvisitorstotheShow,âNealsaid.
Visitorscanexpectthe return oftheBigRed Stetsonsthatwillonceagainraisemoneyfor SPARNIandEUROSPARNIcharitypartners, MarieCurieandCancerFundforChildren, while a selďŹe-stationwillbesetupforvisitors toshare theirStetsonselďŹes.There willalso be a hostoffunactivitiesforthefamily, with W5andonceagain,theon-siteSPARstore will bepackedwitheverydayessentialsforboth exhibitorsandshow-goers. â
72 AGRI BU SI NE SS
CarlJohannesson,executivehead chef,HendersonKitchen
Coffeechain Traitopeningsouth Belfastcafeandcitybakery
ByJohnMulgrew
Aboutiquecoffeechainislaunching anewconceptcafĂŠinsouth Belfastandcitycentrebakeryâcreatingupto26newjobsaspartofa ÂŁ500,000investment,itcanbe revealed.
Traitcurrentlyhasthreelocations,includingon theLisburnRoad,CollegeSquareEastandits originalcafĂŠinComber.
Itspecialisesina rotatingrangeofhomemade bakedgoodsâincludingclassicalmond croissants,sweetoptions,andpotato dauphinoiseandconftgarlicbake.
ItâsnowtakingontheformerMichael ChandlerEstateAgentsbuildingonOrmeau RoadâtransformingitintoanewcafĂŠwith alargecentralbararea,which Traitsayswas inspiredbyotherspots,includingthosein Korea.ItâshopedthenewcafĂŠwillbeopen laterthisyear.
And Trait,whichisownedbyMarkMcAllister andMichaelOâNeill,willalsocreateanew, largebakeryatHighStreetinBelfastcitycentre aspartofthatnewcafĂŠlocation,attheformer JacksonSportsstoreâwhichwillbeopenand viewabletothepublicandcustomers.
âThebakeryisonthelefthandsideasyou lookinfromHighStreet,andontherighthand sideyouâllbelookingintothebakery,âMichael OâNeillsaid.
âWelookedatanumberofbarsinKorea andAsia[forourOrmeauRoadcafĂŠ],âMark McAllistertoldtheBelfast Telegraph.âWe believeacentralbarisuniqueâŚwecanhave stoolsaroundthebar,allowingsomeoneto enjoyanespressoandalsohavethatability toseemoreV60andpourovercoffeebeing made.So,thereâsatransparencythere.
âItâsagreatlittlecommunity. YouhaveIndie
Fude,The VineyardandMementoâŚthereâsa nicehubthere.
âWeâvebeenlookingatthisareaforanumber ofyearsandIâmfromthereoriginally.So, thereâsthesentimentalfeel.Iâmahugefanof theOrmeauRoadâitâscontinuingtogrowas adestination,notjustforfood,butforaday out.
âWeareexcitedaboutbringingsomething differenttotheOrmeauRoad.Ourbiggest uniquenessiswebakeourownitemsin Combereverymorning.â
Marksays Traitâsstrengthandoneofitsmain sellingpointsisthatitproducesallofitsown high-qualitybakedgoods,fresheachday.
âThebakesarebeingcreated,bakedandfresh from3.30am,âhesaid.âWehaveabout14 itemsamonthalongwithveganandgluten free[options],savouryandsweet.
âWestartedin2017inComber.Thatwasour platformforbiggerandbetterâŚletâsgetthe buildingblocksstarted.
âAcrossthestores,theaestheticsarethe sameâthefoundationsarelong-lasting. We havesycamorewoodfromCardy Timber,for example. We areinitforthelong-term.Itâs abouthowyoufeelâwearetryingtocreatea niceambience.â
Andhesaysanotherkeyelementforthe businessishavinggreatstaffwhohelp createawarmandwelcomingexperiencefor customers.âOurbiggestaspectispeople,and makingyoufeelgood,âMarksays. â
74 FOOD& DR IN K
TraitâscafeatCollegeSquareEastinBelfast
Manufacturersandretailsector seebiggestbusinessbump
NorthernIrelandâsmanufacturing sectorhasseenitsfastestgrowth inexpansioninalmosttwoyears amidanoverallmodestspikeinbusiness activityhere,afreshsurveyhassaid.
Manufacturersandtheservicessectorsawan upliftinoutputinFebruary,accordingtothe latestUlsterBankpurchasingmanagersâindex (PMI).
However,theconstructionand retailsectors sawasmall retractionduringthemonth.
Andthe reportsayswhileneworders expandedattheirfastestpaceinalmostayear, therewasacontinueddeclineinexportsâindicatingthepick-uphasbeenlargelydriven bydomesticbusiness.
Overall,NorthernIrelandâsbusinessactivity growthsatjustbehindLondonandtheEast Midlands.
âNorthernIrelandâsprivatesectorcontinued tobeneftfromincreaseddemandinFebruary. Businessactivityandnewordersboth expandedlastmonthattheirfastestpace inelevenmonths,âRichardRamsey,chief economistNorthernIreland,UlsterBank,said.
âHowever,thecontinueddeclineinexport
ordersâ10consecutivemonthsofcontraction âindicatesthatthepick-upindemandis largelydomesticallydriven.â
Onthejobsfrontfrmsheresawonlyasmall increasetostaffnglevels,the reportsaid.
âResourceconstraintsand recruitment diffcultieswerecitedasfactorslimiting employmentgrowth,âMrRamseysaid.
âServicesfrmspostedthesteepestrisein businessactivityinFebruaryandalongside manufacturing, recordeditsfastestrateof expansioninactivityintwenty-twomonths. Meanwhile retailsaleswerebroadlyfat,with constructionactivitydecliningmodestlyin February.Constructionwastheonlyoneofthe foursectorsnottoexperienceapick-upinnew orderslastmonth,extendingitsrunoffalling demandto32months.
âInfationarypressuresandsupplychain disruptionmadeanunwelcome returnin Februaryâssurvey.Risingwagesandhigher shippingcosts resultingfromtheRedSeacrisis helpedpropelinputcostinfationtoaninemonthhigh.
âThiswasmostnotableamongst manufacturers.Manufacturersand retailers reportedamarkedlengtheninginsupplier
deliverytimes.Encouragingly,thisisnotthe casewithinconstruction.Indeed,construction frmscontinuedto reportashorteningintheir supplierdeliverytimesandinputcostswithin thebuildingindustryeasedtotheirlowestrate inforty-fourmonthsâ
MrRamseysaidthe returnofaStormont Executivehasâundoubtedlyboostedbusiness confdence,withNorthernIrelandâsprivate sectoritsmostoptimisticaboutfutureactivity in33monthsâ.
âSomesurvey respondentssaidthatan unblockingofpreviouslydelayedworkis helpingtobuildapipelineofnewactivity. Sentimentwasparticularlystrongamongst manufacturers,withoptimismaboutfuture outputata recordhigh.Eventhebeleaguered constructionindustryisnow relatively optimisticaboutoutputin12monthsâtime.â
SebastianBurnside,RoyalBankofScotland chiefeconomist,said:âTheselatestPMI fguresbuildonthepositivestarttotheyear we reportedlastmonth,withbusinessactivity risinginthemajorityofnationsand regionsin February.Encouragingly,growthinmostcases isbeingsupportedbyincreasinglevelsofnew business,indicatingapick-upinunderlying demandandhintingthattheupturnashas legs. â
76 ECONOMY
NorthernIrelandâsmanufacturing sectorhasseenitsfastestgrowth inexpansioninalmosttwoyears
ThenewMercedes-BenzCLE Cabrioletisnowavailabletoorder, withpricesstartingfromÂŁ52,995.
CombiningthedesignoftheCLECoupĂŠ withamulti-layerfabricsofttopthatcanbe raisedorloweredinaslittleas20seconds, thenewCLECabrioletcontinuesthetradition ofelegant,four-seatopen-topvehiclesfrom Mercedes-Benz.
InitiallythenewCLECabrioletisavailable inAMGLine,AMGLinePremium,AMG LinePremiumPlusandPremierEdition specifcations.Atlaunchtherangeof powertrainsincludesfour-cylinderandsixcylinderpetrolenginesandafour-cylinder dieselâallwithmild-hybridtechnology.
ThenewCLECabrioletisequippedwithan electricallyoperatedfabricacousticsofttop. Theinsulatedmulti-layerstructurecanbe raisedorloweredin20secondswhilethe vehicleistravellingatupto37mph.When lowered,apowereddividerautomatically separatesthefoldedsofttopfromthe remainingluggagespace.
Mercedesunveilsits newclassycabriolet
Theyear-roundusabilityoftheCLECabriolet isfurtherenhancedbytheAircapelectricwind defectorsystemandtheAirscarfheating system,bothfttedasstandard.Aircap consistsoftwoelements:thewinddefector abovethewindscreenextendsatthetouch ofabuttontodirectairfowoveroccupantsâ heads,whiletheautomaticwinddefector behindthe rearhead restraints reduces turbulence.Airscarfcirculateswarmair aroundfrontseatoccupantsânecks,keeping themwarmincoldorwindyconditions.
Beyondthesofttop,theCLECabriolet beneftsfromthesamecomfort,convenience andsafetytechnologiesastheCLECoupĂŠ. Forinstance,standardequipmentonall modelsincludesthelatestMBUXinfotainment systemwithafree-standing12.3-inchdigital instrumentclusterand11.9-inchdriverorientedcentraldisplay,inuser-friendly portraitformat.IntheCLECabriolet,the centraldisplaycanbetiltedelectricallyfrom 15to40degreestopreventglarewhenthe softtopislowered.
PremierEditionmodelsaddtheNightPackage âincluding20-inchAMGmulti-spokealloy wheelsinblackâaheatedsteeringwheeland Nappaleatherupholstery.
Therangeofpowertrainsavailableinthenew CLECabrioletincludesfour-cylinderpetrol, six-cylinderpetrolandfour-cylinderdiesel engines.Allenginesarepairedwiththelatestgenerationnine-speedautomatictransmission and48-voltmildhybridtechnology,witha second-generationintegratedstartergenerator (ISG)toprovideupto17kW/200Nmof supportinthelow-speedrange.
The2.0-litrefour-cylinderpetrolengineis availableintwooutputlevels:with204hp astheCLE200andwith258hpastheCLE 300.TheCLE450isequippedwitha3.0-litre straight-sixpetrolenginewith381hp,while theCLE220dispoweredbythe2.0-litrefourcylinderdieselenginewith197hp.
TheCLE300andCLE450areequippedwith variable4Maticall-wheeldrive. â
78 MOTORI NG
IconicRenault5goeselectric
TheRenault5isback, reinventedto bringabitofsparkletotheworld ofcompactelectricvehicles.
TheoriginalRenault5soldover5.5million unitsacrossďŹvecontinentsfrom1972to1985. Itwasevenavailableinanelectricversionas farbackas1974.Itwasvisionarytotheend, markingthebeginningsofeco-designwitha roofmadefrombondednaturalďŹbres.
TheRenault5E-Techelectric,faithfultothe 2021conceptcar,harksbacktothepastyetit isalsotheepitomeofmodernity,fromitsallelectricAmpRsmallcarplatformthroughtoits agilehandlingandnewtechnology.
Thestandard18-inchwheelsareakeyfeature intheproportionsofthenew5E-Techelectric. The195/55R18tyrescomewithalloywheels acrosstherange.TheâTechnoâwheelfeatures thesamedesignasthe2021showcar.
Thenew5willbeavailablewithtwolithiumionbatteries.Thebiggest,whichwillbethe onlyoneavailableatmarketlaunch,hasa capacityof52kWhandarangeofupto248
milesWLTP.Thesecondhasacapacityof40 kWhforarangeofupto186milesWLTP. BothuseNMC(nickelmanganesecobalt) technology.
Thesebatterymodulesaredesignedtoimprove energydensitywithoutincreasingsize.The 52kWhbatteryincludesfourlargemodules initscasing,comparedwiththe12smaller modulesfoundonMeganeE-Techelectricand Zoe.Thisdesignbringsweightsavingsof20kg comparedwithZoe.The40kWhbatteryhas threelargemodulesinthesamecasing.
Forimprovedperformanceinallconditions, thebatteryisequippedwithaliquidcooling systemto regulateitstemperature.Forgreater safety,thecoolingďŹuiddoesnotcirculate insidethecasingbutthroughtheextruded ďŹoor.Whenchargingthevehicle,charging timecanbeoptimisedbypre-conditioningthe batteryandplanningthejourneyusingGoogle Maps.
Theelectricmotorofthe5E-Techelectric usesRenaultâspreferredtechnology:wound rotorsynchronousmotors.Asithasno
permanentmagnets,itusesnorareearths, thereby reducingitsenvironmentalimpact.The magnetsare replacedbycoppercoils,withthe wiresbeingorderedand routedinsuchaway astowithstandthecentrifugalforceofthe rotor.
Themotorisavailablewithtwopowerratings: 110kW(150hp/245Nm)or90kW(120hp /225Nm).The110kWmotorispairedwith the52kWhbattery,whilethe90kWmotoris pairedwiththe40kWhbattery.
Forthe110kWversion,Renault5E-Tech electricacceleratesfrom0to62mphinunder eightsecondsandfrom50to75mphinunder sevenseconds.
Withan11kWACchargingpoint,the52kWh batterywilltake4hrs30minutestocharge from10%to100%.The40kWhbatterywill takeanhourless.
TheRenault5E-Techelectricisplannedto arriveintheUKinquarterone2025,with speciďŹcationandpricestobeannouncedin duecourse. â
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Happyinthe V-Cross
ThenewIsuzuD-Maxhasbeen givena refreshwithsmartnew stylingandanupgradeinsafety equipment.
Thebrandisnowchasingawideraudienceof adventureseekers,outdoorenthusiasts,and thrill-seekers,expandingbeyonditstraditional segmentsofconstructionandfarming.
TheIsuzuD-Maxappealstoawidevariety ofdrivers,fromďŹeetoperatorstofamilies, andthemodelrangeisstructuredinto threesegments:Business,All-Purposeand Adventure.Thenewline-upoftruckssit withineachrangetosuiteverycustomerâs requirements.
Isuzuonlymakecommercialvehiclesandthey focusonmakingtheirpick-upstough,strong andbuilttogothedistance.
ThisdevelopmentinIsuzuâsbrandpositioning stemsfromtheirexperienceofthechanging consumerlandscapeandagrowingappetite forlifestyle-drivenvehicles.Thebrandâs decisiontoembracethelifestyleandadventure markethasbeenmetwithsuccess,especially withitssignaturemodel,theaward-winning
IsuzuD-Max V-Cross,fallingwithinthe Adventurerange.
Withitsblendofruggednessand reďŹned features,ithasbecomeatopchoiceforthose seekingavehiclethatcomplementstheiractive andadventurouslifestyle. V-Crossispacked withallyouneedtoshakeofftheworking week.Thissubstantialpick-upfeaturegun metalexteriorstyling,leatherupholstery, heatedfrontseats,anine-inchmultifunction colourtouchscreen,and reversingcamera. Thepremiuminteriorispracticalandfuss-free: entertainmentisprovidedbyaCDplayerand eightspeakers,thereisanauto-dimming rearviewmirrorandautomaticheadlightlevelling, andthesmartleatherinterioriscomplemented with V-Crossbrandedcarpetmats.
Witha4x4powertrainanda reardifferential lock,itboastsexceptionaloff-roadcapabilities, providingcomfortonadailycommutewiththe abilitytotackleadventuresportsatweekends whilestillappealingtofarmersandbuilders.
Sincethebrandâspivottowardsthelifestyle andadventuremarket,Isuzuhaswitnessed a remarkablesurgeinD-Max V-Crosssales. Thebrandâscommitmenttoproducing reliable
anddurablevehicles,combinedwithafocus onenhancingthedrivingexperienceon-and off-road,hasstruckachordwithcustomers, leadingtoasigniďŹcantincreaseindemandfor theAdventurerange.
TheD-Maxoffersthesameworkhorse practicalitiesthatIsuzucustomershave becomeaccustomedto,withaone-tonne payloadandupto3.5tonnestowingcapacity.
ThewheelbaseoftheD-Maxis30mmlonger whichhasallowedforalargerandmore spaciouscabin.Rearseatoccupantshave morespacethanksto20mmmoreshoulder room,higherhippointsandmore reclined seatbacks.TheB-Pillarispositioned25mm furtherforwardwhichmeansthe reardoor aperturehasincreased,allowingforeasier access.
Equippedwithaturbodieselengine,the IsuzuD-Maxpick-upisleadingthecharge âdelivering164PSand360Nmoftorque. Eachnewmodelcomeswith125,000mile/ ďŹve-yearwarrantyandďŹveyearsUKand European roadsideassistance,withtowing capabilitiesof3.5tonnes,amaximumpayload of1,120kganda4x4drive. â
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Newcarsalesrise9%inNI
Newcar registrationsinNorthern Irelandclimbedalmost9%yearon-yearinJanuaryandFebruary,a reporthassaid.
AndtheKiaSportageisthemostpopularnew carsoldin2024sofar, with304drivenoff forecourts,accordingtotheSocietyofMotor Manufacturersand Traders(SMMT).
TheSMMTsaidthatinthe ďŹrstfewmonthsof 2024,there were 8,890newcars registered inNI,anincreaseof8.9%onthesameperiod lastyear
InFebruaryalonethere hadbeen3,691new cars registered,up6%onthesamemonthin 2023.
FollowingtheKiaSportageinpolepositionare theHyundai Tucsoninsecondplaceandthe Ford Pumainthird,with300and257sales respectively
Thethreemodelswere alsothemostpopular inFebruary, with136,119and102sold, respectively
ButgrowthinthenewcarmarketinNorthern IrelandisbeingdwarfedbytheUKâs more rapid expansion.
AcrosstheUK,newcar registrationshaveshot
up14.2%to reach84,695,markingthe strongestFebruaryintwodecades.
Andamongdevolvednations,Northern Irelandâs 6.1%growthinFebruarywas anaemiccomparedto15%growthin England,11%inScotlandand12.9%in Wales.
However, the regionâs 8.9%newcar marketgrowthinJanuaryandFebruarywas surpassedby10.6%expansioninEngland and10.3%expansioninScotland.
ButNorthern Irelandâs JanuaryandFebruary growthwashealthierthan Wales,where the marketgrewby8.6%.
TheSMMTsaidFebruaryhadbeenthe19th consecutivemonthofgrowthinnewcar registrationsUK-wide.
However, itsaidtheexpansionhadbeen drivenby ďŹeetsinvestinginthelatestvehicles, ratherthanbyprivateowners.Fleetand business registrationsaccountedforgrowth of25.2%and15.5% respectively
Incontrast,privateuptakecontinuedto struggle,with a 2.6%declinegivingthe market a 33.7%marketshare.
UK-wide,electriďŹedvehicles recordedstrong
growth,withhybridelectricvehiclesalesup 12.1%.Plug-inhybrids recordedthelargest proportionalgrowthforthemonth,rising 29.1%to reach7.2%ofthemarket.
Batteryelectricvehicleuptakesimilarly outpacedthe restofthemarket,rising21.8% toaccountfor17.7%of registrations,an improvementonlastyearâs 16.5%.
AndtheSMMTsaidtheBudgetcouldhave giventheChancelloranopportunityto stimulatetheEVmarketâbyhalving VAT on newEVsforthreeyears,amendingproposed VehicleExciseDuty(VED)changes,and reducing VAT onpubliccharginginlinewith homechargingâ.
Itsaidthatwhileconsumersdonotpay VAT ontechnologiessuchasheatpumpsandsolar panels,privateEVbuyerspaythefull20% VAT onallcars.
TheSMMTsaidhalving VAT onnewEV purchaseswouldsavetheaveragebuyer aroundÂŁ4,000off thepurchaseprice.
MikeHawes,SMMTchiefexecutive,said: âThenewcarmarketâs abilitytodeliver growthcontinueswithitsbestFebruary for20years,andthisweekâs Budgetis anopportunitytoensure thatgrowthis greener.â â
81 APRIL 2024 MOTORI NG
AoifeMcCluskeyisnowclientaccounts administratorwithSpringCo.Shejoined SpringCoaftergraduatingandholds adegreefromUlsterUniversityanda foundationdegreeinhealthandsocialcare fromSouthEasternRegionalCollege.
Curtis Yorkisnowanestimationexecutive at TechnicalMetalsGroup.Hehas10yearsâ experienceinstockcontrol,procurement andbuying,studyingmediaand photographyatSouthEasternRegional College.
AngelShekissupplychainadministrator withSpringCo.Shehaseightyearsâ experienceintheretailindustryand graduatedfromtheUniversityofCumbria withadegreeinretailmarketingand management.
PaulQuinnisnowgeneralmanagerat DunadryHotel&Gardens.Hejoinedthe McKeeverHotelGroupin2023andis responsiblefordirectingandoverseeing thedailyoperationsandrunningofthe hotel.
SianMcConnellhasjoinedBelfastlawfrm MillarMcCall Wylie.Shejoinsthefrmâs expandingemploymentlawteamasa specialistinthisarea.
GerminalhasappointedDavidLittleas agriculturalproductmanagerforIreland.It willseehimcarryouttheresponsibilities ofhisnewpositionalongsidehiscurrent NorthernIrelandsalesmanagerrole.
Baker TillyMooneyMoorehasappointed KarenCorryasseniorHRconsultant. Shebringsexperienceinstrategic andoperationalHR,organisational developmentanddesign,change management,andeffciencyreviews.
GaryMcCruddenisdeputygeneral manager,DunadryHotel&Gardens.He isresponsibleforsupportingthegeneral managerinday-to-dayoperationswithin thehotel.
LeeMcDermottjoinstheCalibro Workspaceteamassitemanager,having spentseveralyearsinthecommercialand residentialftoutsectorsacrosstheUKand Ireland.
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EN TS
1. AbbeyAutolinehas unveileditsnewpartnership with YoungEnterpriseas anImpactBusinessBacker. PicturedareGaryMcKinley, StPaulâsHighSchool,Julie Gibbons,AbbeyAutoline, CarolFitzsimonsMBE, Young Enterprisewithstudents fromStPaulâsHighSchool, Bessbrook.
2. FaceTherapyNIhasjoined forceswithCuraHealthtoprovide accesstoGPs.PicturedareGeri Duffy,DrSiobhĂĄnMcEntee,Dr ConorBradley,DrJohnDiamond andLisa Waring.
3. EdMcDonald,FoodStandards AgencyNIandAndyQuinn,head oftheNationalFoodCrimeUnit (NFCU)atthelaunchofFood CrimeConfdential,afreephone numberto reportfoodfraudin NorthernIreland.
4. HinchDistilleryhaslaunched itsnew15-Year-OldOloroso SherryCaskFinishedIrishwhiskey, introducedbyNorthernIreland actorJamesNesbitt.
5. Fit-outfrmCalibro Workspace hascompletedvariousfundraising activitiestoraisefundsforInspire Wellbeing,thecharityandsocial enterprisewhichaimstoenhance wellbeingacrossallaspectsof peopleâslives.
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6. LiveHereLoveHere, NorthernIrelandâspeoplepoweredcampaigndedicated topromotingcivicprideand fosteringenvironmental stewardship,hasannounced the recipientsofits2024 Community Awards.
7. NicolaMarshallandher daughterFiadhpicturedgetting thekeystotheirnewhomein ApexHousingAssociationâsBlack Ridge Viewdevelopmentinwest Belfast.Theyarepicturedwith HarryDyerfromApexHousing Association(left).
8. CharlieâsBarEnniskillenhas raisedÂŁ23,000tohelpAgeNIand theSouth WestAgePartnership (SWAP)intheirworktohelp combatloneliness.Picturedare RosalindCole,AgeNI,UnaBurns, CharlieâsBar,andAllisonForbes, SWAP.
9. TheCommunityFoundation forNIhashostedaneventto supportgrassrootswomenfrom localcommunitiestoamplifytheir voicearoundtheirhealthcare needs.PicturedareJuniorMinister PamCameronMLA,Roisin Wood, DawnShackels,andJunior MinisterAislingReillyMLA.
10. EconomyMinister ConorMurphy,Margaret Hearty,InterTradeIrelandand DeirdreOâNeillofHertility picturedopeningthe2024 InterTradeIreland VentureCapital Conferenceat TitanicBelfast.
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11. Wovensaysitaimsto investmorethanÂŁ150minto newdevelopments,stock upgradesandenhanced housingservices.Pictured areJasonHardy,Peter OâReilly,KatrinaSmyth,Paula Ewart,RuthMulholland, JudithMcNameeandDerek Johnston.
12. YellowDoorhasextended itshospitalitycontractatthe homeofUlsterRugbyuntilat leastJune2025.Picturedare AndrewDougan,SamNetherton, andClodaghMeylerof Yellow DoorwithUlsterRugbyâsDavid Edwards.
13. GordonMcAtamneyfrom K&GMcAtamneyWholesale MeatsispicturedwithchefPierre Koffmann,thenamebehindthe Koffmannâsrangeofpotatoesand friesbyTheFoodHeroes.
14. PicturedatthefrstFood TourismConnectionSummitat WatermanHouseinBelfastare councillorClĂodhnaNicBhranair, DepartmentofAgriculture, EnvironmentandRuralAffairs MinisterAndrewMuirand MichelleShirlow,chiefexecutive ofFoodNI.
15. Around300delegateshave attendedtheNewryandDundalk ChambersâAnnualCross-Border Conference.PicturedareNeale RichmondTD,MinisterofState forBusiness,Employmentand Retail,EdwinaFlynn,Newry Chamber,UnaMcGoey,Dundalk Chamber,andEconomyMinister ConorMurphy.
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16. MidandEastAntrimâsNet ZeroBusinessproject,aimed atsupportinglocalbusinesses indeliveringsustainable futureshasbeenoffcially launchedattheEcosHubin Ballymena.
17. NorthernIrelandâsprivate andpublicsectorshavejoined togethertotargetinvestorsinthe RepublicofIrelandwiththeoffer ofuniquedualmarketaccess.
PicturedareJohn Walsh,Belfast CityCouncil,MarieHunt,ULI Ireland,andJoeOâNeill,Belfast Harbour.
18. Body TalkLiveisanew one-dayconferencebringing togethermedicalmindstodiscuss gynaecology,hearthealth,mental health,ftness,guthealthand muchmore.PicturedareDrCarla Devlinwithco-founderSarah Weir andeventhost,PamelaBallantine MBE.
19. HendersonGrouphas been recognisedwithaGold GroceryAidawardforitssupport forthecharitythroughout2023. PicturedareJenniferMaheffey, NatashaMcDonald,Maria JenningsandAshleighConner Brown.
20. TheBone Yard beergarden has reopenedfollowinga redesignwhichwillseethevenue partneringwithleadingfood operatorsOrto, Wingit,and HiBurger.
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21.TheRenewableNI all-femaleevent Women InRenewableshastaken placetomarkInternational WomenâsDay2024.Pictured areEimearOâReilly,Everun, KateNichollMLA,Ruth Forbes,A&LGoodbody,Jane Fleming,andJudithRance, RenewableNI.
22. BelfastHarboursaysthefund forthisyearâsBelfastHarbour Community Awardshasbeen increasedtoÂŁ100,000,an increaseofÂŁ20,000onthetotal fundlastyear.PicturedareZach Elwood,LaurnaBurnsandAmy Price,withJenniBarkley,Belfast Harbour.
23. Catalystand Techstart Venturesareteamingupto offerfveteamswhoparticipate inCatalystâsCo-Founders programmethechancetowina ÂŁ10,000proofofconceptgrant. PicturedareKathleenGarret, Techstart VenturesandPauline Timoney,Catalyst.
24. LorraineAcheson, Womenin Business,withBusiness Woman ofthe Year VickyDavies,chief executiveofDanskeBank,andIan Bailey,NorthernIrelandcountry leadwitheventsponsor Virgin MediaO2Business.
25. Ahostofinnovatorsand expertsfromacrossIreland haveconvenedattheinaugural InnovateIslandevent,whichwas heldatKilleavyCastleEstateand supportedbyInterTradeIreland.
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26. ThefrstCyberFirst EmPowerGirlseventtobe heldinNorthernIreland, whichtakesplaceatthe NationalFootballStadiumat WindsorParkthismonth,is aimingtoencourageyoung girlstoconsideracareerin technology.
27. HelplinesNI,anetworkof telephoneandonlinesupport servicesfundedbythePublic HealthAgency,hashosted itseighthannualHelplines AwarenessDay.Picturedare RobbieButlerMLA,Clodagh CroweandClaireOâPrey.
28. YoungEnterprisehas announcedanewpartnership withMusgraveNI.Picturedare CarolFitzsimonsMBE,chief executiveof YoungEnterprise, TrevorMagill,managingdirector ofMusgravewithstudentsfrom BelfastBoysâModelSchool.
29. LawrenceJackson(second left)fromChoiceHousing picturedwiththethree recipients oftheUlsterUniversityChoice Scholarship2024.
30. BelfastLordMayor, Ryan Murphy,welcomesSouthKorean ambassador Yeocheol Yoonto BelfastCityHallonhisfrstvisitto Belfastlastmonth.
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31. NorthernIreland executiveministers, departmentalpolicyleads, academics,industryleaders andcommunitygroupshave cometogethermarkthe launchofEPICFuturesNI,a ÂŁ4.8mpolicyactiongroupled byUlsterUniversity.
32. AIBâsSeamusMcGuckin, TanyaAnderson,JohnFaheyand RoisinKeenanarepicturedatthe MerchantHotel,Belfastaheadof thelatestinaseriesofeconomic briefngs.
33. WelcomingthenewGuide âEliminatingSexualHarassment fromthemodernworkplaceâare ClareMoore,equalityoffcer, ICTU,EconomyMinisterConor Murphy,andClaire Webb, equality,diversityandinclusion manager,LabourRelations Agency.
34. AntrimandNewtownabbey BoroughCouncilhaswelcomed 250youngwomenfromschools tomarkInternational Womenâs Day.PicturedareMayorofAntrim andNewtownabbey,MarkCooper withMarissaCallaghan,Northern Ireland WomenâsFootballCaptain anddeputyMayorofAntrimand Newtownabbey,RosieKinnear.
35. Spar,Eurospar, Vivoand VivoxtrastoresinNorthernIreland arethankingshoppersfortheir generosityafterraisingmorethan ÂŁ616,000fortheannual Tearfund appeal.PicturedareBronagh LukefromSparNIwithChris Thompson, Tearfund.
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36. Puddleducks,aprominent Belfastcitycentredaynursery provider,hasclinchedthe topawardinitsfeldatthe FamiliesFirstSpringEarly Years Awardsheldin Titanic Belfast.
37. Anewfast-chargeIonitycar chargingstationhasopenedup attheKennedyCentreBelfastin westBelfast.PicturedisKennedy Centremanager,JohnJones,with thenewIonitychargingstation.
38. NISpaceissetto receive fundingfollowingan announcementatSpace-Comm Expo.PictureareJohnWhaley, RobertHill,NISpace,Rosie Cane,Space WalesandStuart Catchpole,SpaceEast.
39. CyberexpertAngokahas providedactiveprotection fortheoperationofthe SunderlandAdvancedMobility Shuttle(SAMS),markinga signifcantmilestoneinthecityâs journeytowardsself-driving transportation.
40. GateleyLegal(NI)says Warren Polly(secondfromleft)willbe representingtheInstituteof ProfessionalLegalStudiesBelfast (IPLS)attheStetsonInternational EnvironmentalMootCourt Competition.Heâspicturedwith BenLowry,CaitrionaFitzpatrick andThomasStewart.
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TagHeuer: new stunning vintage-inspired Carrera is a thing ofbeauty
TagHeuerâslatestiterationofits
âGlassboxâCarreratakessomethingof alessismoreapproachwhenitcomes tofunctionality,butmakesupforitin manymorewaysandisoneofthemost stunningwatchesfromthebrandâsstable inrecentyears,writes JohnMulgrew
Sometimesovert style and jawdroppinglybeautiful designcan trumpfunctionality
Whilethechronographisinfactoneofthe watchworldâs more detailedandadvanced complications,somewouldarguemore so thanthosecommandingastronomicalprices, Tag Heuerâs latestiterationofitsâGlassboxâ vintage-styledrangefeelssomewhatlimitedin itsvarietyandadditionalfunctionality
TheâDatoâisthebrandâs latestspecialedition Carrera.Anditâs notonlyoneofthemost stunningandbalancedpiecestofnditsway ontomywristthisyear, butalso a lessoninthe powerofasymmetry
Thisisstill a 39mmchronograph,boastingthat superbbulbousdomedsapphire crystalwhich givesit a vintagefeelbutwithallthetechnical heftandprecisenessof Tagâs ownCalibre TH2007movementintheback.
Butwhere thisdiffersisinthelackofsubdials. Thesixandninehavetakenthedayoff, instead,thereâs just a 30-minutedialatthe threeposition,with a datewindowsitting adjacent.
Itmeansthereâs norunningsecondshand,so youâre only reallygoingtoseethemovement runningwhenthechronographisengaged.
Andyet,itdoesnât matter Notonlydoesitnot matter, butitkeepsthingscleanandperfectly simple.Forexample,thatdial,whichebbsand fowswiththelight,sometimescomingacross as a rich,metallictealandothertimes, a little bitmore forestgreen,isstunning.Anditâs that lackofbalanceinthesubdialswhichisarguably itsgreateststrengthfrom a visualperspective.
The39mmcasesizeand46mmlug-to-lug ensuresthisissomethingwhichwillworkon a varietyofwrists,whiletheblackleatherstrap brings a littlemore formalitytoit,alongside a
soliddeployantclasp.
Backtotheheadofthewatch,thewhite markingsandnumericalsoftheinnerbezel add a littledetailandsymmetrytoproceedings, withchunkyappliedsilvermarkersandhands keepingthepalateallaboutthatpunchy, almostviridian,dial.
Thereâsa signedcrownandopencasebackto showoff thatchronomovement,whilethe pushersarea combinationofpolishingand brushedcentres.
Thecaseitselfisanothermixture of a polished
92 RE VI EW
FACTFILE
Model: TagHeuerCarrera
ChronographâDatoâ
Movement: CalibreTH20-07
Casesize: 39mm
Material: Stainlesssteel
Price: ÂŁ6,000
andbrushedstainlesssteel,cominginjustshy of14mmthick.
Wearingthisonthewristfor a week,the Datofeltlikeittrulyftintotheday-to-day, yet remainingextremelyspecial.Whileother, almostperfectwatches â intermsofthat balanceofsize,functionality, appearance andprice â sometimesbegintoblendinand takeuppositionatthebackofyourmind, thisconstantlycaughtmyeye,whetheritwas sittingatmydesk,atmeetingsordrivingtothe offce.
Itâs alsoanotheronewhichgarnersattentionin
a seaofhabitual roundedsquare smartwatches, itâs hard toignore,andatleasttwoorthree peopleaskedmeaboutitduringmyfewdays wearingit.
TheâGlassboxâhashelped Tag Heueras a brand elevateitspropositionontheluxurySwiss stage.Whileitstilloffersthatmore affordable quartzofferingatthelowerendofthemarket, watcheslikethisarea reminderoftheheft ofthepedigreeof a brandwitharguablythe strongestassociationandhistorymotorsport, andmodern chronographtimepieces.
Pricewiseitcomesinwellabovemanyof
a considerablepieceof watchmaking.
Itâs considerablylessthanitsRolexrival(ifyou cangetyourhandsonone)andisonpar withtheSpeedmaster, butwhiletheformer hasarguablythemostimpressivehistoricalCV ofanychronograph,itâs relativelyubiquitous inthewatchworld.
Thisissomethingtohelpyoustandoutfrom thecrowdandimpressboththewatchheads, andthenormalfolkamongus. â
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Tag Heuerâs core ranges â TheAquaracers, Formula1sandevenentry-levelCarreras â butthisis
Winchesterâs greatness claimsare well founded
Thestunningcathedralcityof Winchesterboasts royalpedigree,literaryleaningsandatruly enthrallinghistory,writes IsabelConway
Thereâspoetryinmotionwalkingin thefootstepsofJohnKeats,toa cacophonyofbirdsonganddancing sunrayswhilefollowingtheRiverItchen throughwatermeadowsontheoutskirts ofthesmallcathedralcityofWinchester.
Thepoetwouldstrollthroughthesevery meadowseverydayforacoupleofmiles onthesamewalkwhile residinginâthe pleasantesttownIwaseverinâ,havingmoved to Winchesterto restorehishealthandhave accesstoagoodlibrary.
ItwasaftersuchawalkinSeptember1819 thathepennedhisode To Autumn,oneof themostoftenanthologisedpoemsinthe Englishlanguage.
ThiscountytownofHampshireonEnglandâs southcoastoffersaperfectshortbreak thatcombinesurbanwithruralsightseeing. Literarygreatsassociatedwiththecityalso includeJaneAusten,whoisinterredinside WinchesterCathedralhavinglivedthelast sevenyearsofherlifeinthenearbyvillageof Chawton.
Visitorsconstantlystepbackandforthintime here,passingthebronzestatueofKingAlfred theGreat,standing17fthighattheentrance to Winchester,EnglandâsÂŹAnglo-Saxoncapital whichissteepedinArthurianlegendand medievalhistory.
ItâsmyďŹrstintroductiontothisquintessential âOldEnglandâthathasitall,beautifully restoredbow-frontedRegencyandElizabethan architecturetakingprideofplaceonalong pedestrianisedHighStreetthatwasoncethe Romansâseast-to-west routethroughthecity.
Oldmoneyandwell-heeledblow-ins,drawn todesirablegreenbeltcommuterland,lookas iftheyâvesteppedoutofaBarbourwaxedjacketsadvertisementintheirclassiccountry wear.Realestatewindowpricesareeye-
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wateringlysteepforhistoricmanorhouses, largearchitect-designedvillasandonce modestfarmoutbuildingsconvertedtoluxury hideaways,allnestledin rollingcountrysideyet convenienttoLondon.
LatemorningqueueshaveformedÂŹoutside artisanalbakerieswhilegroupsofâladieswho lunchâarealreadygatheringtobagaseaton theterracedgardenofHoteldu Vin&Bistro, housedinabuildingdatingbackto1715.
AsluckwouldhaveitIhaveafreerunofthe cityâscharityshops,whereavintagebargain caneasilylurkaswellasarichÂŹharvestin hardly-worndesignerlabelsandlastseasonâs highstreetfashion.
AfteralongwalkIarrivefamishedatthe
Georgian-erapub,WykehamArms,inthe centreof Winchester,tuckingintoaheartyale beefstewandmeatyWykePie.
Mytableisa repurposeddeskfrom Winchester College,Englandâsoldestpublicschool(annual feesÂŁ50,000/âŹ58,400)thatwasironically designatedforthepoorbackinthe14th century.Ithassinceeducatednumerous politiciansandleadersofindustry,including BritishprimeministerRishiSunak,overthe centuries.Isearch(invain)foranRSamong alltheinitialscarvedbystudentswholoved vandalisingtheirformerdesks.
Topofvisitorsâsightseeinglististhe magnifcent WinchesterCathedral,which boaststhelongestmedievalnaveintheworld andbrimswithextraordinarystories.Numerous flmsandTVseries,includingthelateHilary Mantelâs WolfHallandTheCrownhavehad scenesshothereâitwasthesettinginthe latterforCharlesandDianaâsweddingand WinstonChurchillâsfuneral,addingmuchneeded revenuetoitsheftymaintenancebill thatcostsÂŁ15,000aday.
SimonApplegarth,asprightlysenior,isoneof thevolunteerguideswhohasusÂŹenthralled bythecathedralâsdramatichistory.Hetells howthe remainsofStSwithin,theninth centuryBishopof Winchester,weremoved againsthisdyingwishesfromtheirfnal restingplaceinasimpletombinthecathedral groundstoasplendidshrineinside.Itrained heavilyfor40daysafterwardswhichwasseen asasignofhisdispleasure.
Thetermâstinkingrichâwasapparentlycoined hereduringtheBlackDeathwhentherewas abuild-upofcorpsesasonlythewealthyhad theprivilegeofburialwithinthecathedral.The stenchgotsobaditwasdecidedtheyâdhave tojointhepoorandbelaidto restoutside.
DuringtheReformation,OliverCromwellâs soldiersstabledtheirhorsesinsidethe cathedralandsetaboutbeheadingstatuesand smashingeverystainedglasswindow.After theRoundheadswere-routedparticlesofthe mostspectacularwindowwere retrievedand itsbiblicalfguresandscenes reset.âLookup,â
urgesSimon.âYouâllseethebodyofStJames andthefeetofStJohn.Iâmnotsurewhich apostleâsheadisthere.â
Thebuildingâsmostvisitedpartisthegrave ofJaneAusten,whoisburiedtwo-feet underfootinthenaveandwhoseinscribed stonemadenomentionofherliterary achievements.OnlyfourmembersofAustenâs familywereallowedtoattendherfuneralâso nottodisruptthemorningserviceandthere wasnothingaboutherbeinga renowned writerbecauseitwasnâtconsideredproper thenforawomantoearnherownliving,â Simonsays.
Ittookafurther50yearsbeforeAustenwas honouredwithabrassplaqueandstained glasswindowabovethegravestone.
From WinchesterImakeapilgrimageto Chawton,apeacefulbackwaterlessthanhalf anhourbycarandtheonlyoneofAustenâs homesthatbothsurvivesandisopentothe public.Whilelivingherefrom1809to1817, Austenwrote, revisedandhadpublishedsix ofhernovels.
Thehouse,simplyfurnishedandkeptas originalaspossible,isfullofdelights:her writingdesk,afadedlockofherhair,and giftedjewellery.
Mosttouchingofallisthepatchworkquilt madeoftinysquaresfromolddresses, samplesandpiecesbeggedfromfriends. Alltheladiesofthehouseworkedonit.Its designisascarefullycontrivedastheplotsof Austenâsnovels,theplacingofitscontrasting coloursandpatternsasminutelythoughtout asthesocialminuetsbetweenhercharacters, theintricatestitchingasexquisiteasher choiceofwordsandturnsofphrase.
IthinkAustenwouldhaveheartilyÂŹapproved ofthegiftshopalso,flledwithintelligent, ironicandusefulmemorabilia:aneedlework starterset,chinafeaturingalltheBennets, andadryingclothandaproncarryingfamous Austenquotessuchas:âYouknowhow interestingthepurchaseofasponge-cakeis tome.â â
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Winchesterisa perfectshortbreak whichcombines urbanwithrural sightseeing
From Walmart trials to anIPO: whatâsnext forIrishdrone firm Manna?
IrishdronedeliveryfrmMannahasambitiousplanstolandthe biggestprizesintheglobalmarket,writes Adrian Weckler
BobbyHealyâsmantrawithManna, thedronedeliveryfrmhefounded inDublinsixyearsago,hasalways beentoâgobigorgohomeâ.
ThatâaswellasaroundâŹ40mofventure fundingâhasgottenthe55-year-oldDubliner toapointin2024whereheâslaunchingthe companyâsfrstlegitimatelycommercial,nontrial,serviceinBlanchardstown.
Therearenohumanâspottersâneeded anymoreduringthedronefights.Thereareno major regulatorysafetyharnessesleft.Itâsnow afedglingdeliverybusiness,hesays.
âEverywhereelseweâveoperatedsofar,weâve hadtheseobservers,âBobbysays.âWeâdsend acarchasingthedrone.Andwewouldhave someoneonthe roofwitheyesonthedrone.
âThatâsallgonenow. We havea[higher grade]licence,sothedroneisfully autonomous. We canhaveanynumberof aircrafttooperators.â
Bytheendoftheyear,Bobbyexpectstobe coveringmostofDublin,rainornorain,and fortheoperationtobeâcashfowpositiveâ.
Butevenbeforethat,theBlanchardstown setupaloneisnowonapathtoachieving upto,andmaybemorethan1,000drone deliveriesadayâthanks,hesays,toahuge waitinglistandpartnershipswithover20local restaurantsandbusinesses.
âThat,initself,wouldbebyfarthebiggest deploymentintheworldofdronedelivery,â hesays.
DespitehisplansforIreland,andwhathe describesasthecountryâsamenable,proenterpriseclimateinwhichtodevelopadronedeliverybusiness,Bobbyâssightsare reallyset ontheUS.
HehassetupatrialinasuburbofDallas, deemedoneofthemostliberaliseddrone deliveryareasintheUS.
There,heexpectstodobetween400and500 deliveriesadaytobeginwith.
Butthatâsnotall.Thecompanyiscurrently doingtestdeliverieswith Walmart,theUS retailgiant,whichhasalreadyannouncedthat itplanstodeliverto75%oftheentireDallas Fort Worthareaâapopulationzoneaboutone andahalftimesthesizeofIrelandâs.
Walmarthasalreadypubliclyannounced Googleâs Wingâwhichhasspent$2bnonits dronedeliverydevelopmentâandthebilliondollarfundedstartupZiplineasitsestablished deliverypartners.
âWeâvegotourteamoverthereatthe momentdoingtestdeliverieswiththem,with Walmart,âBobbysays.
Manna,heestimates,iscurrentlysecondin theUSbehind Wingintermsofapathwayto success.
WhatevertheaccuracyofthatcontentionâbothZiplineandpossiblyAmazonâsPrimeAir mighttakeissuewithitâBobbyâspubliclystatedambitionforMannaisarguablythe loftiestanyIrishstart-uphasarticulatedin recentyears,ifever.Heâsnotjusttryingtobea
unicorn.Hewants,andexpects,tobeaglobal mega-giant.
âWedonâtwanttobeoneplayeramong500 differentdronecompaniesdoingdifferentuse cases,âhesays.âWewanttobethebiggest thingtheworldhaseverseenwithdelivery. We wanttobeineverysinglesuburban householdontheplanet.â
Thatisdone,headds,throughgeneral deliveriesatscale.Sowhile Wingiscurrently testingmedicaldeliveriesinsouthDublin, whichmaybemoreproftableperfight,the realprizeisinbeingthemass-marketdelivery service.
âThebiggestspacebyfar,atleastatrilliondollarmarket,istheoneweâreserving,â hesays.âAndthatâsdeliveryoffoodâŚand perishables.
âDoorDash,UberEatsandtheothertopthree orfourcompanieslikethat,theydo5.2billion deliveriesayear,growingannuallyat15%. Thatâsthesizeofthecurrentindustry.Itwill soonbe10billion.Thatâsthe[industry]we want.â
IrelandandEuropearepavingthewayto buildthisintoapropermodel,hesays.Butitâs onlyintheUSwhereitcan reallycomeofage. AndthatâsbecauseitâsonlytheUSmarketthat willattractthekindofmega-fundingManna willultimatelyneedtobuildoutitscapacity.
âWeâreprogressingintermsofhowfarwe areaheadofeveryoneelse,andtheEUhas gonefasterthanwethoughtitwould,âhe says.
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âButintermsofcapitalisation,weâreway behind. Weâveraised$45m,whichisatiny amountforthistypeofbusiness,Googlehas spent$2bnontheirprogramme.Amazon hasspent$3bn.Ziplinehaveraised$950m. AndhereâsusinIreland,beatingthemall,but scrapingthebarrelwith$45m.Thatâsbadfor us.
âWeneedmorecapitalforabusinesslikethis, becauseitâsverycapitalintensive.â
Bobbyestimatesthatwhilethecompanystill hasplentyofmoney,itâsspendingabout$1ma month.
âWeshouldbespendingmaybe$2mamonth. Weâreunderinvesting,âhesays.
âWeâreinverygoodshape.ButIthinkvery soon,particularlyattheendofthisyear,weâllbe readytotakeonhundredsofmillionsofdollars andspenditwelland returnmoneyonit.â
Anotherwayofraisingmoney,whichBobbyis keenonatsomepoint,isthroughanIPO.
âIntermsofinvestmentsize,Mannawould neednotfaroffabilliondollars,justto rollout intheUKmarketaloneâintermsofcapital investment,debt,allthatsortofstuffthatwe needtoputtogether.
Thatâsjustonemarket.âSoyouneedeither giganticfundsâinthetensofbillionsâoryou needthestockmarket.Andthereagain,in ordertofoatthecompany,youneedcrossover fundsthatinvestatthisstage,pre-IPO,toget you readyforIPO.â
IsthisthewayheandMannaarethinking? âItâs100%thewayweârethinking.âhesays.
âWewanttogetto$100m revenue,sowe canIPOthebusiness.Ihaveabsolutelyno interestinIPO-ingthebusinessâotherthan thatitunlocksunlimitedcapitalforthegrowth
thatweâdneed.Becauseotherwise,itâsjusta painintheasstobeanIPO-edbusiness.
âThisbusinessneedstobeapubliccompany assoonaswecan,inordertogetthecapital weneed.Nowthatweâreafewstepsaway fromthat,butwehaveapathtothat.
âAndIthinkifweâresuccessfulwiththis currentstage,whichIâmprettyconfdent of,thenwehaveonemoreriskstage.Iâm hopingtheUSA regulatorypositionunlocks inthenextyearortwo.Andifitdoes,itâll changeouropportunityâbecausethen weâreaUScompany,andwehaveabigUS opportunity.â
AndyoumoveoutofIreland?No,hesays. âWeâllalwaysbeheadquarteredhere,in Ireland.Thereâsnodisadvantagetobeing here.Ithinkwehaveallthetalentweneed. Like,literally,thereâsnodisadvantageto beinghere.â â
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BobbyHealy
Uncoveringthe9-5
NAME: CarolineMacLaughlin
POSITION: Bankingpartner,TLTinBelfast
7.15am
ThealarmgoesoffandIspringintoaction gettingmytwoboys readyforschool.My eldestCameronis11andhisyoungerbrother isCharliewhoisnine.MyhusbandandItake itinturnstotakeourcockerspanielMurphy forhismorningwalkandgetabitofspaceto cleartheheadforthedayahead.
8.40am
OnthedaysIamgoingintotheoffceIwill dropthekidsoffatschoolandthenheadinto ourRiverHouseoffceinthecentreoftown, makingaslightde-tourtopickupacoffeeto setmeupforthedayahead.Igenerallygo intotheoffcetwotothreedaysaweek.
9.30am
Mydayscanbeveryvariedbutonatypical morningIgetthroughemails,makeclient callsandcatchupwithothersintheteam.At TLTweverymuchembracehybridworkingso oftentherearesomeoftheteamintheoffce andothersathome.Icheckinwiththemall toensureeveryoneisok.Ioftenoverseeand supervisetheworktheteamareinvolved in,ensuringthatcompletionsaregoing toplan.
12.30pm
Imakeaconsciousefforttogetoutfor somefreshairtoclearmyhead.Idoa quickwalkaroundtheblockandoften grabasandwichtoeatbackatthe offce.
1pm
We havea regularpartnermeetingwith theotherpartnersintheBelfastoffce dealingwiththefnancial,operational andHRsideofthebusiness andgenerallykeeping intouchwithwhatis goingonthroughout theteamswithin theBelfastoffce.
2.30pm
Ithenspendmostoftheafternoonon clientwork,whetherthatbedraftingfacility documentation,transactionstructuringor jumpingontoclient Teamsmeetings(with theoddinpersonmeetingthrowninpost pandemic).Ioftenneedto reviewcapability statementsandfeeproposalsforclients ortargets,workingalongsideourbusiness developmentteam.
5.30pm
EachdayisdifferentbutIaimtoleavethe offcebetween5.30pmand6pmallthings goingwell.OnthedaysIâmintheoffce theboysareoftenlookedafterbytheir
grandparents,soInip roundtotheirstopick themup.
6pm
MyhusbandandIthenjuggletheevening activitiessuchasrugbyandswimmingclub andthensqueezesometimeintohelpwith homework.
8pm
Fittingallofthatinmeansthatweofteneat quitelate.OnthedaysIâmworkingfrom home,wewilleattogetherasafamilyabit earlierintheeveningbutondaysIaminthe offce,theboyswilloftenhaveeatenwith theirgrandparents. We taketurnsonchef dutiestorustleupsomethingbeforetheboysâ bedtime,andsomepeaceforus.
9.30pm
AfterthepandemicTLTintroducedTLT World. Thismeanswehaveagenuineculturethat allowsustoembracefexiblehours,fexible location,andfexibleworkplace,sowe canworkatourbest.Thebenefttome isthatIcanbethereformychildren whentheyneedmeandworkftsin aroundthat.Itmeansthatnodayof theweekfollowsexactlythesame routineformeâIseemoreofmy childrenforatleastanumberofdays duringtheweekbycuttingoutthe rushhourcommutesandsharing dinnertimestocatchupontheir day.ItalsomeansthatIamoften foundbackonlineintheevening pickinguponemailswhen neededandplanningforthe followingday. â
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