4 minute read
Other Businesses
Our other commercial businesses, complement our core Energy business, and their activities are aligned with our Group purpose, strategies and Vision.
Powerhouse.je
Despite a challenging year, with supply chain issues and a shift in consumer confidence,ourretailbusinesshas performed well and delivered a £1.2mprofitonadecreasedturnover of £18.7m as consumer spending returned to pre-pandemic levels. Resilience was also shown among the Retail team which displayed greatflexibilitytomaintainlevels of customer service, having been impacted by higher than usual employee turnover as more members chose to progress their careers in other parts of the Company. We have continued to invest in enhancing the in-store customer experience by this year expanding and improving the entrance to the store and thereby, increasing usable floorspaceby730squarefeet.We have used this additional space to develop our emobility proposition by introducing several new electric bike brands which are proving very popular with consumers conscious of rising fuel prices. These include electric cargo/family bikes, which we believe will play an increasingly important role in decarbonising the transport network in Jersey. As a result of these investments, our revenue in the emobility category grew by 23%. We have also invested in our Service Department and are looking to recruitment three new technicians to support the introduction of further new product lines. We are now the onIsland service agent for Sony and have other service contracts in the pipeline.
23%
Increase in emobility category revenue
JEBS
JEBS, our building services division, has been instrumental in helping our Energy Solutions team achieve a record 325 domestic fuel switches this year and the successful launch of the all-inclusive, home EV charging solution Easycharge as well as continuing to help us expand the public EV charging network. Although recruitment continues to be an issue inthisfield,revenuesweremaintained at £3.4m (and £4.1m including internal revenue from within the Group) and profitsweremarginallyaheadof2021 at £0.3m.
The quality and value of the service JEBSprovidewasreflectedinthe award of a three-year Amenity Lighting Maintenance contract for both the Infrastructure, Housing and Environment Department and the Parish of St Helier.
As part of the Group’s climate strategy, JEBS have replaced eight of its ageing fleetofdieselvehicleswithfully electric alternatives, with a further four expected in service by March 2023.
Other Businessescontinued
Jersey Energy
Jersey Energy and Guernsey-based, Channel Design Consultants, provide premium environmental and building services advisory, design and site administration services to architects, the Government of Jersey and States of Guernsey, Parish Halls and private developers. Established in 1994 to promote energy and environmental solutions in building design and energy related services, the team’s expertise is in much demand today as the islands look to transition to net-zero.
Recruitment continues to be a challenge in this specialised industry but the team, under a new director following a retirement, completed a number of notable projects this year. These included the refurbishment of St Helier Marina, completed in time for the Jersey Boat Show in June, a new Channel Islands Co-operative Society retail outlet at Five Oaks and thefinalphaseofaseven-yearproject to redevelop housing at Grand Vaux Court was completed in May. The order book remains full with the building services design for Les Ozouets, a new higher education campus in Guernsey, the refurbishment of Maison de Landes Hotel, a variety of Andium projects, including refurbishment and upgrade works to all high-rise residential blocks, the new-build development of 140 apartments at The Limes, and the commercial kitchen replacement at the prestigious Atlantic Hotel. Working closely with the Energy Solutions team, Jersey Energy has also designed, developed and trialled various EV charging schemes for a multitude of scenarios, including thedesignofthefirstultra-rapid charger in the Channel Islands at the Powerhouse.
JENDEV
Jendev provides digital Enterprise Resource Planning (ERP) solutions for all business areas (including external clients), delivering a mix of standard and bespoke systems. It specialises in Microsoft Dynamics business applications but has the implementation expertise required to deliver projects across a wide range of technologies. The small team provides the Group with easy access to the required digital skills, including business analysis, consulting, design, development, training and project management and has been instrumental in the integration and delivery of modern cloud-based solutions, such as the new Customer Relationship Management (CRM) platform and Work and Asset Management (WAMS) solution into Jersey Electricity’s core ERP solution. It has also been at the heart of the development of the award-winning My JE app. The Jendev team continues to expand its digital know-how, focused on strategic and relevant technologies. This will ensure that it can deliver the latest innovations in the utilities industry.
Property
Our Property portfolio includes a B&Q store and Medical Centre situated on our Powerhouse retail andadministrationofficesiteat Queen’s Road as well as 29 private housesandflatsthatarerentedonthe openmarket.The£1.4mprofitinour Property division, excluding the impact of investment property revaluation, was at the same level as last year. Our investment property portfolio moved up in value by £1.0m to £28.8m, based on advice from our external consultants, who review the position annually. This increase compared to £6.1minthe2020/21financialyear due primarily to a restructuring of the lease arrangement for our largest tenant, whereby the existing break clause was moved to a later date, post commercial discussions, which materially increased the valuation, due to continued buoyant market conditions in Jersey.
£1.0m
Increase in value of property portfolio
