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Watch: Insider's Business Briefing - 14th April 2025
Insider Media
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14/04/2025
Alice and Stephen discuss results for a health club and hotel operator, funding for a tech accessories brand and plans for a new distillery.
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News
Transcript
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00:00
Resorts for a hotel and health club operator, funding for a tech accessories brand and plans
00:05
for a new distillery, featuring today's business briefing.
00:08
You've got a well-known name from the business community to talk to us about today.
00:17
I do, yes.
00:18
Health club spa and hotel operator, The Bannertine Group, which is obviously owned by former
00:23
Dragon's Den star Duncan Bannertine, has posted some new results which showed an uptick in
00:29
profits and turnover.
00:31
So the business is actually headquartered in Darlington.
00:33
It's got a really nice hotel spa there, but it's got sites across the UK as well, in Ireland
00:38
and in Wales.
00:39
And it's had, it's safe to say, like a difficult few years following the COVID pandemic with
00:44
the lockdowns and everything, as most gym operators did.
00:47
But newly filed results for 2024 have shown that in the year, turnover improved to nearly
00:53
£150 million with profits of £14.4 million.
00:57
Now, this is a significant turnaround from 2022 when profits stood at £1 million.
01:03
So they've done really good to kind of bring that back.
01:06
And in the year, they said that membership grew and they've also continued to invest in
01:11
the clubs.
01:12
They're jumping on the paddle trend and they're at the minute building sites at their Stockton
01:19
health club.
01:20
And they're also building carts in Essex as well.
01:23
And I think in the future, that's something they'll look to roll out more widely.
01:27
So Duncan Bannertine, who is also the chief executive and the chairman of the company, was obviously really pleased with the results.
01:34
He said that they demonstrate what can be achieved when a great team works together to
01:38
turn things around.
01:40
So overall, really positive picture for them.
01:42
Sounds like a really strong year for them.
01:45
Well, we've got a really, really interesting funding story as well today.
01:48
The news that tech accessories brand, Mouse, has raised £2 million through a crowdfunding
01:52
campaign to support its growth brands.
01:55
So now, Mouse started out by designing phone cases as it since expanded into areas like wireless
02:01
charging, MacBook sleeves, things like that.
02:05
The company is backed by James Watt, who's the founder of BrewDog, also by Piper Private
02:10
Equity and Channel 4 Ventures.
02:12
He's also an official partner of the Mercedes Formula One team.
02:15
So you may have seen his products on display over the weekend.
02:18
Yeah, probably without even realising.
02:20
Well, it launched its campaign on Crowdcube earlier this year.
02:23
It was initially seeking £1 million.
02:26
It's actually more than doubled that amount.
02:28
So really successful raise there.
02:31
That's going to be used to support product innovation, building up its inventory.
02:35
new categories and expanding its team with the aim of taking the business to the next
02:39
level.
02:40
So a great story there.
02:41
Yeah, especially with such high profile backers, I'm sure there'll be a very positive picture
02:45
there.
02:46
Well, over in Wales, residential developers are in the spotlight because we have published
02:51
our new list of the most profitable property and construction companies in the country.
02:57
So the list features in the April and May edition of Wales Business Insider, and it outlines
03:02
the top 25 most profitable firms.
03:05
And in that list, house builders were actually nine of the list were house builders.
03:12
And those include Landmower Homes, which is a family owned company based in Talbot Green.
03:18
Now, in its most recently published accounts, the business reported a £2 million pre-tax profit
03:23
on turnover of more than £23 million.
03:26
Perhaps unsurprisingly, Red Row, the house building giant, which was recently acquired
03:32
by Barrett Homes actually was at the top of the list, but also included is Castle Green
03:36
Homes, who we've covered quite extensively recently.
03:39
They actually spoke to Insider not too long ago about their plans to acquire and build 800
03:45
homes per year by 2028.
03:48
So, the full list will be published in the April and May edition of Wales Business Insider,
03:53
which will be hitting desks very soon.
03:54
Obviously, house building is a very important area, it's been in the news a lot lately,
03:58
so it's interesting to see those companies doing so well.
04:01
Well, lastly today, in our Scotland newsletter, we've got news of a whisky distillery on the
04:06
Isle of Skye that submitted plans for major redevelopment.
04:10
A 57-degree sky opened in Broadford in 2022, its founders are now seeking permission to
04:16
demolish the current distillery and visitor centre, construct a new four-storey hub.
04:22
Nice.
04:23
Now, that would feature a public cafe and bar area split across two floors, which would
04:27
give visitors a view into the workings of the distillery.
04:30
Above that, on the upper floors, there would be a tasting area and a performance space to
04:35
host events.
04:36
Each floor would feature a terrace as well, looking out over to some of the lovely scenery
04:40
you've got there on the Isle of Skye.
04:41
Yeah, that sounds lovely.
04:42
Sounds like a lovely venue.
04:44
Interestingly, alongside the actual distillery itself, there are plans for staff accommodation.
04:49
They're seeking approval there to build some space to address a shortfall of accommodation
04:55
for people who actually work on the Isle of Skye.
04:57
So that would provide 12 one-bedroom apartments, and those would be used by distillery staff as
05:01
well as for other businesses in the area.
05:03
It's a really interesting development there.
05:05
Yeah.
05:06
And I know you visit Scotland quite often, so maybe a future trip.
05:09
We're popping back up to Skye and see what it looks like.
05:11
Yeah.
05:12
Well, if you want to read more about that story or any of the stories we've discussed
05:15
today, you can do so on insidermedia.com.
05:18
While you're there, feel free to check out our upcoming events, and you can also subscribe
05:22
to our magazines and our daily newsletters.
05:25
Thanks for watching.
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