Watch: Insider's Business Briefing - 3rd February 2025 - video Dailymotion

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In today's business briefing, Remy and Adam discuss a luxury yacht manufacturer's "pivotal year", the Manchester relocation of a major law firm, jobs created at a F1 tech provider and a self-service pint dispenser's huge crowdfunding success.

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00:00Luxury yachts, a law firm's relocation and Formula One. That's what's coming up

00:06in today's business briefing.

00:13Hello, I'm Remy Greasley. I'm Adam Beach. So Adam, I thought I'd kick us off in

00:19the sort of distant world of luxury yachts. Yeah, please do. I'm sure you don't

00:23have one. No, believe it or not, I don't have one. Me neither, believe it or not.

00:27But yeah, so a Plymouth headquartered manufacturer of, you know, such vessels

00:33has hailed a pivotal year in which it saw its revenues grow by a fairly

00:38substantial amount. So Princess Yachts, which is actually this year celebrating

00:42its 60th anniversary, you know, it creates a range of yachts. Lots of different

00:48classes that I wish I could reel off the top of my head. Yeah, I'll be no help

00:51whatsoever. Just imagine yachts. Yeah. So Princess Yachts has recently filed its

00:57strategic reports ending on December 31st, 2023. And it reported revenues

01:05rising by 20 million up to about 310 million, you know, which is fairly

01:11substantial. Significant jump. Yeah. But with that, it's also reported a pre-tax

01:15loss of about 65 million, which has about a similar jump from around 43

01:21million, about 20 million again, from the prior period. But, you know, with

01:27turnover increasing, everything seems to be to be moving forward. And they've

01:30recently had a controlling interest in the business bought out by KPS Capital

01:36Partners. So things are looking promising for them. And then, yeah, I want to take

01:41it to you, Adam. I believe you've got something in Manchester. That's right.

01:44Thanks, Remy. Yeah, we're moving to the legal world now with commercial law firm

01:48Hill Dickinson's plans to relocate its office in Manchester to a development

01:53spearheaded by Gary Neville's Relentless Group, having reached a

01:56significant milestone with the commencement of Fit Artworks. It's the

02:00St. Michael's scheme. Definitely a lot about that one. Yeah, definitely a prominent

02:04development. It's a workspace that extends to 18,200 square foot and it's

02:09actually been designed by Incognito and will be brought forward by Denton. The

02:14workspace is due to complete by the summer. And Hill Dickinson said, you know,

02:20they're looking to create an inspirational workspace for its team.

02:23And the company's relocating from Fountain Street with the new office

02:30actually offering views across Manchester city centre. So definitely, you

02:34know, a nice location. Moving in summer as well, you'll get the great best time of

02:38year to move. Nice weather, nice clear views, blue skies, yeah. Yeah, so in the world of

02:42pints, which is a very good way of putting it, a company behind self-service draft

02:48drinks dispensers, used by venues of all across the UK and some quite big names

02:52in there, has raised over 620,000 in a crowdfunding campaign.

03:00eBar, which is customers that include Man City, Brighton & Hove Albion and

03:07Silverstone, has smashed its target of about 400,000 and the funding will all be

03:13used on increasing sales resources, targeting sort of every venue in the UK

03:20I think that they can, supporting new product development, software development

03:24and to prepare for their Series A and overseas launch. And I think it's one of

03:30them that you sort of, you get the glass or the cup and then put it on yourself

03:34and it comes up from the bottom. I don't know if you've ever... I used one at a gig

03:39in one of the arenas, can't remember where, but I remember getting a pint and it was sort of

03:43fascinating to watch it fill up on its own, you know. A world of the future.

03:49We're moving on to the world of manufacturing now with Austin Racing, a producer of F1

03:55exhaust parts, having signed a 10-year lease for a unit at Pantone Park in

04:00Burgess Hill. The move has actually created 20 jobs, which is obviously a

04:04positive for the area. The company will use the space to enhance the delivery of

04:09motorcycle and electric go-kart parts in the southeast and beyond. This will

04:14help expand the company's operations and streamline production, as well as support

04:19demand for its products. As I said, it will also create job opportunities in the

04:24region and that's not all. The scheme has allowed the company to create its own

04:29fully electric go-kart track at the site, which it says is not just for in-house

04:35testing, but available to the public as well. I mean, Austin Racing, if you're

04:39listening, we'd love to have a tour. Yeah, one of the more fun tours I think we could do.

04:46That's it from us today. You can read more about those stories at insidermedia.com,

04:50but you can also subscribe to our newsletters and hear about upcoming events. Thank you.

Watch: Insider's Business Briefing - 3rd February 2025

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