Watch: Insider's Business Briefing - 25th March 2025 - video Dailymotion

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Daniel and Jennifer discuss a clothing company's financial results, planning permission secured for a landmark manufacturing development and a hotel scheme in Yorkshire.

Transcript

00:00The company's financial results, planning permissions secured for a landmark manufacturing

00:04development and a hotel scheme in Yorkshire all feature in today's business briefing.

00:15So good morning Dan.

00:16Good morning.

00:17I believe you have some exciting company results for us this morning.

00:21Quite an interesting results story.

00:23An outdoor clothing brand based in the New Forest has reported a significant rise in

00:27turnover.

00:28So it's Passenger Clothing, are you familiar with them?

00:31Yeah, definitely.

00:32Yeah, I think they're quite well-known.

00:33They were founded in 2012 by Richard Sutcliffe and his wife, Alexa.

00:37So it's an outdoor clothing brand for adventure seekers, but they've also got a major focus

00:41on their environmental responsibility as well.

00:44So it's quite a well-known brand, but it's got quite an interesting backstory as well.

00:49It all began with the founders adventure seeking in Europe in a van, and they often came up

00:54with their ideas in the cold underneath sleeping bags.

00:59Over recent years, they've experienced significant growth, and in their most recent financial

01:02results, they reported a turnover of 32.5 million pounds, which is actually a 78% rise

01:08from the previous year.

01:10Pre-tax profit was 1.7 million pounds, which is actually a slight decrease, but that's

01:15due to heavy investment and expansion and scaling of operations that actually tripled

01:19their UK warehouse capacity in the most recent year.

01:23And being environmentally responsible is obviously a very important part of the business, 74%

01:28of its products use lower footprint materials, and it plants a tree for every single order

01:33they get.

01:34Oh, wow.

01:35Yeah.

01:36The group also secured a minority investment in 2023 and is expanding internationally with

01:40strong demand in markets like the US, Germany, and France.

01:44I've also been in touch with John Lane, who's their CEO.

01:47He described it as an exceptional period of growth and said it's a very exciting time

01:51for the company.

01:52So we have very positive results there.

01:53I understand you've got a results story as well.

01:56I do indeed.

01:57So the house builder Castle Green Homes has reported its latest financial results for

02:01the year.

02:02For the 12 months to March 2024, the company reported a turnover of 87.4 million pounds,

02:09which is down from 95.7 million pounds for the period prior.

02:13The decrease was said to be contributed by the reduction in land sales in the year.

02:19Operating profit came to 10.8 million pounds, which was a fall from 12.2 million pounds

02:23for the previous year.

02:25The drop was said to be due to developments that were delayed in the planning process

02:28and the high proportion of partnership contribution compared to 2023.

02:34The business achieved 291 legal completions in the year compared to 231 in 2023.

02:41It also anticipates significant growth in 2025 with an increase to 600 legal completions.

02:47Looking forward, the director said that 2025 will be a transformational year for Castle

02:52Green with an increase in homes built, turnover, outlets opening in both the North West and

02:58North Wales and secured land bank.

03:00Sounds like a lot to be positive about there and there's a lot to be positive about in

03:04North Yorkshire because construction has begun on a luxury hotel, pub and restaurant in North

03:09Yorkshire, which is set to open in the summer of 2027.

03:12So it's located on the cliffs of Runswick Bay.

03:15It's called Cliffmount and it will include 20 CV hotel rooms as well as a separate pub

03:19and restaurant and it will replace the former Cliffmount Hotel, which was demolished in October 2024.

03:25The project aims to be the UK's first hotel with passive house accreditation, meaning

03:29it adheres to strict sustainability standards.

03:32Development is led by Silverstone Building Consultancy and Stainforth Construction and

03:36groundwork is underway before the phases of further construction can begin.

03:40So that's definitely quite an interesting one to keep an eye on.

03:44For sure.

03:45Finally, this morning then and over in the East Midlands, a planning permission has been

03:50secured for a landmark manufacturing development.

03:54Nottingham Planning Consultancy in 1947 has advised the aluminium trade extruder Garnalex

04:01on securing the go ahead to build a new multi-million pound manufacturing facility in Ashfield.

04:07The planning permission secured totals more than 1 million square foot and phase one is

04:12dedicated to the new factory and the remaining space is for phase two, which will comprise

04:17additional Garnalex facilities.

04:19Once both phases are complete, it is anticipated that they will provide more than 1,000 jobs.

04:25That's fantastic.

04:26Absolutely.

04:27So to hear more on that story and all of the other stories that we spoke on this morning,

04:30you can head on over to insidermedia.com where you can also hear about our upcoming events

04:35and sign up to be a member to our newsletters.

Watch: Insider's Business Briefing - 25th March 2025

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