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Watch: Insider's Business Briefing - 9th October
Insider Media
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08/10/2024
Adam and Dan discuss the richest sports stars in the UK, a marketing deal in Leeds, and accounts from two companies in the Midlands - including an iconic sweet maker.
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00:00
The richest sports personalities in the UK, a marketing deal in Leeds and
00:04
results from two companies in the Midlands, including an iconic sweets
00:08
maker, all feature in today's business briefing.
00:16
Morning Adam. Morning Don. So I'll start things off today. I've seen a deal in
00:20
Leeds. The performing marketing agency Connective 3 have acquired Creative
00:25
Content Agency Powerhouse for an undisclosed sum. So these companies are
00:29
both based in Leeds. Connective 3 was founded in 2019 and they work with
00:32
well-known brands such as Ocado, Love Holidays and Avon and they help them
00:36
with their marketing campaigns which obviously helps them to drive growth.
00:39
Powerhouse is a content creation studio founded in 1999 so it's quite
00:44
interesting that the company founded in 2019 is acquiring a company in the
00:49
late 90s, so new acquiring old in a sense and Powerhouse, they
00:53
specialize in marketing through photography and film. They work with
00:56
brands like Iceland and Yorkshire Tea which we have in our office. Yeah I'm
01:00
patriotic about Yorkshire Tea. Yeah I think it's the best tea as well, nice and strong.
01:03
So Powerhouse will continue to function as their own entity and
01:08
they will benefit from additional support in finance, operations, sales and
01:11
marketing which in turn will fuel their business growth. The acquisition will
01:15
see Connective 3's overall headcount increase to 130 and the company's
01:20
forecasted revenue is expected to exceed 11 million so quite a good deal
01:24
there. I know you've got some results for us. Yes, a couple of big set of
01:29
results from the Midlands this morning. DPD, the parcel delivery giant, which you
01:34
know we see their vans on the roads quite frequently, they filed accounts for
01:38
what they described as a successful year. DPD Group UK is what the accounts come
01:44
under and they actually headquartered in the West Midlands and they've reported
01:47
revenues of 1.47 billion for the year to, very significant to 31st of
01:53
December 2023 and that's actually down from the prior year which was 1.49
01:58
billion. The business generated pre-tax profits of 262.8 million, also down
02:04
from 299.5 million. The company said the performance came against the backdrop of
02:09
the cost-of-living crisis which has impacted a lot of companies and DPD say
02:13
it of course impacted customer, excuse me, customer demand there but it did add
02:19
that it ended the period in a strong financial position. Now it's not the
02:24
only big set of results from the Midlands this morning, we have accounts
02:28
for Swizzle's Matlow which are behind a range of iconic sweets. What's your
02:33
favourite sweet? I quite like a chewy sweet, you know, that I can chew on rather than a
02:37
hard-boiled and I especially like drumsticks actually. It's good that you
02:40
said that because Swizzle's Matlow is actually behind drumstick lollies as
02:43
well as things like Refreshers, that were one of my favourites when I was a kid
02:48
and love hearts. The company was actually founded between the two
02:51
world wars in 1928. Headquartered in Derbyshire, it has now generated a turnover of
02:57
96.6 million for the year to 31st of December 2023, which is up from 89.3
03:04
million in 2022. Despite this, pre-tax profits did fall from 8.2 to 4.4
03:10
million but in a strategic report the company said it's confident that it can
03:15
continue to grow and maintain its position. Some interesting results there
03:19
then and so just to finish off today, I've got the richest sports
03:22
personalities in the UK. So this was initially a list from the Sunday Times,
03:27
they revealed a list of people aged under 40 and our colleague Jen has
03:31
narrowed this down to seven people who earn their wealth through sports
03:33
specifically. So before I get into that list, any guesses on which sports people
03:38
could feature on it? I don't know, maybe Harry Kane or Tyson Fury? One of those is
03:44
correct, Harry Kane is in there, Tyson Fury isn't but someone who everyone wants
03:48
to see, Tyson Fury Box might be and no points for whoever guesses who that
03:52
might be. So I'll get into the list, at number seven we've got Gareth Bale, he's
03:56
worth 70 million. Obviously he had a great career at Spurs and Real Madrid,
04:00
loves his football but also his golf and he owns a sports bar and competes in a
04:04
lot of celebrity golf tournaments. Number six and number five, we've got two more
04:08
footballers who are still playing, Harry Kane who you said and Raheem Sterling.
04:12
Sterling, he's at number six, he's got lucrative deals with New Balance
04:16
and Gillette amongst others. You see Sterling in those Gillette adverts a lot.
04:19
Yeah of course. He's worth 72 million and Kane, obviously England captain, he
04:24
earns a lot at Bayern Munich, he earns 400,000 a week and he's keen on
04:27
investing that into other businesses and he's worth 75 million. At number four we
04:32
move into tennis, we've got Andy Murray, iconic tennis player of course, he's won
04:35
more than 50 million on the tennis courts and he's involved in a
04:39
deal with American Express and all sorts. He has a 35 million stake in the
04:43
sportswear brand Castore and he's worth 100 million. It's quite a jump to 175
04:49
million for Anthony Joshua who sits at number three, so that was the boxer
04:53
obviously who I mentioned earlier, a former heavyweight champion. He's quite keen on
04:56
investing in the property market actually and that has built up his wealth
05:00
in addition to his success in the ring. In runners-up second spot we've got Rory
05:05
McIlroy, the golfer, he's made tons of money from winning various
05:09
golf competitions and he also has sponsorship deals with with Nike and
05:12
Omega. He's worth 225 million and at the top of the list, who do you think is at the
05:17
top? It's a new sport, Formula One this one. It must be Lewis Hamilton. It is of
05:21
course Lewis Hamilton, worth a massive 350 million. He's earned more than 40
05:25
million from his driving, sorry 40 million a year from his driving and has
05:29
collaborated with Puma and Monster Energy amongst many other iconic brands
05:33
and his new contract with Ferrari could be worth as much as 358 million
05:37
according to Sunday Times, so that would obviously be mega if that turns out to
05:41
be true. So that rounds up the list and I think that rounds us up for today.
05:45
Interesting that an F1 star beat out football players and tennis players and
05:49
golfers. Yeah, you hear a lot of people say that football is all about money, obviously Formula One
05:53
has got, it plays a big role in Formula One as well. Definitely, and that's it
05:58
from us and you can hear about those stories or others at insidermedia.com
06:01
where you can subscribe to our newsletters or hear about upcoming events.
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