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Adam and Jennifer discuss financial results for a luxury jewellery retailer, funding for a hamper business, and substantial growth for the UK's new car market.

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00:00Growth for the UK's new car market, a jewellery retailer's results, and an investment for

00:04a hamper business, all featured in today's Business Briefing.

00:08Good morning, Jen.

00:11Good morning, Adam.

00:14I believe you're kicking us off with a results story today.

00:19I am.

00:20So the luxury jewellery retailer Berries Jewellers reported strong financial results despite

00:26challenging conditions in the retail sector.

00:28So recently filed accounts for its parent company, Berens Group Limited, reported turnover

00:33of £76.7m in the year ending June 2024, compared to £77.3m in the year prior.

00:42Pre-tax profit was £15m, down from £15.5m in the previous year also.

00:49So Simon Walton, who is Berries Jewellers' Managing Director, said that despite the current

00:53economic landscape, the retailer has continued to invest heavily in its retail estate over

00:58the last 12 months.

01:00In the current financial year, Berries has undertaken full refurbishments of its Newcastle

01:05and Windsor stores and did a complete reconfiguration of its two stores on Commercial Street in

01:10Leeds.

01:11Later this year, the company will also be transforming its flagship Leeds store into

01:17the first Patek Philippe mono-brand boutique outside of London, which will be one of Berries'

01:23biggest launches to date.

01:25Interesting to see a company continuing to invest in its physical presence.

01:29Yeah, definitely.

01:31On another note, we've obviously been reporting on the storm created by Donald Trump's tariffs

01:37announcement.

01:38But in the midst of that, we've got some positive news for the UK's new car market, which recorded

01:42a 12.4% boost in registrations during March.

01:47The period also marked the best month ever for registration for electric vehicles, but

01:53this still remained below the mandated government target.

01:57The Chief Executive of the SMMT, Mike Hawes, described the results as a welcome return

02:02to growth, but he also called on more support to enable the industry to decarbonise in line

02:11with the government's targets.

02:14I think we're moving on to an investment.

02:16Yeah, so over in Hull, a family business that provides hampers for clients is set to

02:20double its capacity, following a loan from Northern Powerhouse Investment Fund too.

02:25Peach Hampers provides bespoke hampers branded with clients' logos and has products from

02:30local artisan producers.

02:32Its clients include the likes of Jaguar Land Rover, EE and ITV, and it has now received

02:37a £277,000 loan.

02:40The business started 12 years ago by freelance graphic designer Brendan Pallant in his spare

02:45bedroom.

02:46He now runs it with his wife, Laetitia, from its premises on Hull's Boulevard.

02:50The funding will give the company additional capacity to meet its growing demand, such

02:55as it will help create a new mezzanine floor, providing storage for extra hampers.

03:00A new conveyor belt and pallish wrapping machine will allow it to double its current rate of

03:05packing also, and the funding will enable it to reduce costs by bulk buying supplies

03:10in advance.

03:12A great growth story there, it's nice to hear.

03:16We're moving on to the property sector now, with plans for hundreds of homes on the site,

03:23formerly occupied by a manufacturing giant in Leicestershire.

03:27Waverly Limited are seeking full planning permission for 298 homes on land at Snow Hill

03:32in Milton Mowbray.

03:34The Brownfield site was formerly occupied by Gelb Wen, a major door manufacturer, which

03:41closed all of its Mowbray sites in 2022, and the site has remained vacant since then.

03:47The Council's Planning Committee will consider the application on 11 April, with a recommendation

03:54to approve.

03:55The report for the Planning Committee mentioned that an issue of viability has been raised

04:02to do with contamination of the site, to do with its historic use, but the applicant has

04:08agreed to provide education contributions to mitigate the impact.

04:13Well, if you'd like to hear more on that story, or the other stories that we spoke

04:17on today, you can head on over to insidermedia.com, where you can also subscribe to our newsletters

04:23and hear about our upcoming events.

Watch: Insider's Business Briefing - 7th April 2025

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