Watch: Insider's Business Briefing - 21st October - video Dailymotion

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Miri and Laurence discuss plans for a major development in Liverpool, the financial performance of a gym group and upcoming results from listed firms.

Transcript

00:00Major redevelopment plans in Liverpool City region. Results for a nationwide gym

00:05chain. And what's going on in the week ahead? That's all coming up in today's

00:09business briefing.

00:15My name is Lawrence Corganan. And I'm Mary Thomas. Well Mary, we'll start in

00:20Liverpool City region where there's some fantastic plans in. It relates to

00:26Speak. I don't know if you know Speak? Yeah, near the airport right? That's right

00:30near the airport. And thankfully for this development very well connected to the

00:34motorways and also and as you say the airport. But it's an old printing

00:38facility for Prinovus. It was acquired by GB Europe Holdings earlier this year.

00:43And they are now going to sort of transform it into a logistics facility.

00:49Which does seem like the fate for quite a lot of things that get bought up.

00:51Whether they're old factories or what have you. But I suppose it shows you the

00:55demand for things like online retail and what have you. But anyhow they they're

00:59going to knock down most of the buildings on the site. And then they're

01:03going to replace it with the huge warehouses. Which you see dotting up around the

01:06motorways around around the country. Now it's a 50 acre site. And according to the

01:12planning documentation that's going to be able to support about 1,200 jobs. So

01:16really good news. And Speak is somewhere which is already popular with the

01:21logistics companies. So I can imagine it being popular when it's built as well.

01:25Interesting. Okay we'll keep our eye out for that. Absolutely. And yes we've also

01:30we've got a lot of results coming up this week. So perhaps you can tell us

01:35about some of those. So on Tuesday Virgin Wines released their final results for

01:40the year. Now last year they announced that EBITDA their earnings before tax

01:44more than doubled to 1.76 million. We'll see if they repeat a sort of a good

01:51performance like that again. Yeah we'll just have to just wait and see for the

01:55next day or so. Absolutely. And one thing that caught my eye actually in the week

01:59ahead is well it used to be called Revolution Bars Group. You'll be familiar

02:04with Revolution Bars. They also own some some more premium pubs as well. And they

02:10went through a quite a high-profile restructure earlier this year. I think

02:14that led to the closure of about 18 sites. Well they've changed their name to

02:19the Revel Collective now. Which is said to sort of signal the new start that

02:25they're making with following the restructure. And they're going to be

02:28putting out their sort of first results which will cover the restructuring phase

02:33as well. So that'll be really interesting. And on today's newsletter actually we

02:37did results for Fitness First. Often where people will find themselves after

02:41a night at Revolution I imagine. Fitness First is a nationwide gym

02:46chain. And they posted some positive results. And in there they upped

02:52revenue to almost I think it was almost 40 million. Yes almost 40 million. And

02:57they said that their membership was on the increase too. Pre-tax profits did

03:02dip. But Fitness First said that they had a sort of one-off exceptional cost in

03:06the year before. Which sort of distorted the results a bit. So good to see them

03:10doing well. It's a very competitive sector gyms. Especially sort of you

03:17imagine they'll be looking forward to the new year where people make all their

03:20sort of resolutions what have you. So we'll see what they do. There's more

03:24results this week as well. So Gear for Music the retailer of musical

03:29instruments. They're releasing a trading update to the city this week. And if you

03:33remember the company reported a pre-tax profit last year of six hundred thousand

03:37pounds. Compared to a loss of four hundred thousand the year before that. So

03:41we'll see if trading continues to be buoyant. And we're also hearing from

03:45Susanda their fashion retailer. So they started out as an online retailer. But I

03:49think earlier this month we reported that they'd opened their fourth physical

03:52store. This time in Cardiff. Yes very interesting that isn't it. Because they

03:55are a online retailer which is making some moves into bricks and mortar. So

04:00interesting. It's not really a brand I'm familiar with. But it's women's fashion.

04:04Yes started in the North West. And the final thing to look out for this week I

04:11think is the first update to the city from the combined Barrett Red Row Group.

04:15So they announced their 2.5 billion pound merger earlier this year. And this

04:21is the first time we're hearing what it's like under the hood I guess is how

04:25you'd put it. Yeah a fascinating merger to see what's going to happen to the

04:29wider house building industry. I think consolidation is key there. Lots of

04:33people looking at deals and and so on. So yes let's see how Barrett and Red Row

04:37are getting on. But to find out more about the stories we've mentioned go to

04:40insidermedia.com. There you can subscribe to our newsletters. You can subscribe to

04:45our magazines and find out about upcoming events in this very busy time

04:49for events. Anyhow that's everything from us. See you next time.

Watch: Insider's Business Briefing - 21st October

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