Category: xhybc


Brit Insurance accepts £888m offer from Apollo and CVC


first_img Brit Insurance has accepted a formal offer from buyout firms Apollo Management and CVC Capital Partners after recommending an approach which values Brit at up to £888m. Lloyd’s of London insurers, which offer cover against large-scale risks such as natural disasters, have emerged as potential takeover targets because cyclically low insurance prices have weighed heavily on their shares.Brit’s chief executive Dane Douetil said conditions were now ripe within the sector for consolidation given upcoming Solvency II requirements, which may create capital issues for the smaller players, and the short-term volatility weighing on results.“Certainly, it is more likely to have more consolidation in the next 12 to 24 months than there has been in the last 5 years,” Douetil told Reuters.Earlier this month, insurer Hardy rebuffed an initial 300 pence per share approach from peer Beazley.Brit Insurance said in a separate statement on Tuesday that overall gross written premiums for the nine month period to 25 October fell nine per cent to £1.22bn as underwriting conditions remain competitive.Brit Insurance said the offer from the Apollo, CVC consortium valued the business at 10.75 pence per share, but included a provision through which shareholders would receive a further 25 pence per share should Brit’s net tangible asset value be more than £11 per share at the end of 2010.This represents a premium of 47-51 per cent to Brit’s closing share price of 729 pence on 10 June – the last day before the offer period started.“It will allow us to build the business at the right part of the cycle, to be more nimble in what we do and to have a longer term perspective,” said Douetil. Share John Dunne Show Comments ▼ whatsapp whatsapp Tuesday 26 October 2010 4:30 am Brit Insurance accepts £888m offer from Apollo and CVC Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULLlast_img read more


Pennsylvania reveals 2018 fantasy figures


first_img The Pennsylvania Gaming Control Board (PGCB) has revealed that fantasy contest providers generated more than $15m (£11.6m/€13.2m) in the state last year, with figures for December revealing an 11.7% month-on-month fall in revenue.The regulator said that adjusted total revenue for fantasy contest providers in December – a notoriously quiet month for operators – was $2.86m, almost exactly the same as the figure in October, before rising to $3.24m in November.The providers’ total revenue in Pennsylvania in 2018 was therefore $15.31m, generating $2.3m in tax income for the state. The PGCB launched a regulated daily fantasy sports market in the US state on April 28 last year.In December, the fantasy market’s two biggest players, DraftKings and FanDuel, continued to dominate despite both seeing revenue decline. DraftKings’ revenue slipped from $1.7m to $1.35m, while FanDuel fell from $1.4m to $1.32m.The nearest challenger was Fantasy Football Players Championship, which posted identical month-on-month revenue of just over $137,000.The latest figures mean that last year DraftKings and FanDuel generated a total of $7.91m and $6.96m in revenue in the state respectively. The combined total of the two fantasy giants accounted for more than 97% of the fantasy contest-related revenue in Pennsylvania in 2018.With fantasy providers’ revenues taxed at 15%, just under $3m was generated for the state last year.The latest figures were published after the PGCB announced last week that sports betting in the state generated revenue for operators of just over $2m from a total handle of $16.2m in December.A total of $722,000 in tax was generated from sports betting via Hollywood Casino at Penn National Race Course – which took the first legal sports wagers in the state in November – as well as Rush Street-operated SugarHouse Casino in Philadelphia and Rivers Casino in Pittsburgh, both of which launched sportsbooks on December 15.Sports betting is currently limited to land-based venues, but Penn National has previously said it expects to start processing online sports wagers in the first quarter of this year. Pennsylvania reveals 2018 fantasy figures Topics: Finance Sports betting DFS Regions: US Pennsylvania The Pennsylvania Gaming Control Board has revealed that fantasy contest providers generated turnover of more than $15m (£11.6m/€13.2m) in the state last year after figures for December showed an 11.7% month-on-month drop in revenue. Tags: Fantasy Sports DFS Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 23rd January 2019 | By contenteditor Email Addresslast_img read more


GiG revenue declines in Q1 as business pivots to B2B


first_img Companies: GiG GiG revenue declines in Q1 as business pivots to B2B Casino & games Email Address Gaming Innovation Group (GiG)’s combined revenue declined 3.9% to €31.1m for in the first quarter of 2020, with the business divesting its B2C assets and moving towards a purely B2B focus in the period. Gaming Innovation Group (GiG)’s combined revenue declined 3.9% to €31.1m for in the first quarter of 2020, with the business divesting its B2C assets and moving towards a purely B2B focus in the period.GiG’s revenue from continuing operations declined 8.9% to €11.21m. The business said the decline can be explained by the termination of a B2B customer contract worth around €1.0m for the quarter.However, it brought in an additional €20.0m from the B2C segment of the company. In February, the business agreed to sell its B2C assets, including the Rizk, Guts, Kaboo and Thrills brands, to Betsson for €31m to focus on its B2B and media operations. Upon closing, 63 GiG employees and full time consultants were transferred to Betsson.“In Q1 we signed an SPA with Betsson Group enabling us to successfully divest the B2C division of the business, which completed in April, which not only paved the way for multiple strategic upsides but also allowed us to strengthen the balance sheet and reduce the company’s debt position significantly,” GiG chief executive Richard Brown said.“GiG now has a fully focused, end to end B2B organisation, where we are confident we can continue to deliver a leading product offering and excel in the iGaming industry as a multifaceted B2B provider.”GiG’s continuing costs of sales came to €425,000, up 56.8%, for a gross profit of €10.7m, down 11.6%.B2C costs of sales came to €6.4m, however, for combined costs up 5% at €6.8m and a gross profit of €24.3m, down 6.7%.The supplier’s operating expenses came to €9.8m, up 5.4% or €21.4m when B2C is included, down 0.2%. Of this €9.8m, €1.7m came from marketing costs, up 11.9% and €8.1m other operating expenses, up 4.1%.As a result, earnings before interest, tax, depreciation and amortisation (EBITDA) fell 64.3% to €964,000. EBITDA including discontinued operations came to €2.9m, down 35.6%.The continuing business incurred an additional €5.3m cost in depreciation and amortisation, resulting in a loss before tax and interest of €4.3m, up 30.0% from Q1 2019’s loss. The business said that of this €5.3m, €2.3million relates to amortisation of intangible assets from affiliate acquisitions completed in between 2015 and 2017.The business’s loss before interest and tax when including B2C operations came to €2.5m, up 21.7%.GiG made €350,000 in financial income for a pre-tax loss of €4.0m, up 2.5%. After paying €60,000 in tax, the supplier’s final loss from continued operations also came to €4.0m, up 10.0% from its loss in the same quarter of 2019.When including the B2C segment – which made a €1.8m profit – the business’s combined loss was €2.2m, down 7.9%.After accounting for exchange rate differences from foreign investments, which resulted in a further loss of €1.3m, GiG loss €3.5m for the quarter, up 47.8%.Brown said the business has so far started the second quarter of the year with growth despite the uncertainty created by the novel coronavirus (Covid-19).“We are also seeing that we have started strongly into the second quarter and revenues in the platform services were 40% ahead of the same period last year and 35% over the average of Q1,” Brown said.“Despite the uncertainty in global markets today, I see this as a strong position entering the quarter. Media Services has so far mitigated losses from closure of sports events via organic growth in Q1 which we expect to continue to pay off through the year. “ Tags: Online Gambling 5th May 2020 | By Daniel O’Boyle Topics: Casino & games Finance Sports betting Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more


The Silo / Cobe


first_imgArchDaily CopyApartments, Refurbishment•Copenhagen, Denmark The Silo / CobeSave this projectSaveThe Silo / Cobe 2017 Project gallerySee allShow lessSymbiosis University Hospital and Research Centre / IMK ArchitectsSelected ProjectsCasa de Hóspedes / ArribaSelected ProjectsProject locationAddress:Copenhagen, DenmarkLocation to be used only as a reference. It could indicate city/country but not exact address. Share Year:  ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/874698/the-silo-cobe Clipboard ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/874698/the-silo-cobe Clipboard “COPY” “COPY” Apartments Photographs:  Rasmus Hjortshøj – COAST, Maria Gonzalez Manufacturers Brands with products used in this architecture project Manufacturers: &Tradition, Anker & Co, Ideal Work, Randi, Skandinaviska Glassystem, SwedoorEngineers:Balslev and WessbergContractor:NRE DenmarkLandscape Architect:COBEClients:Klaus KastbjergCity:CopenhagenCountry:DenmarkMore SpecsLess SpecsSave this picture!© Rasmus Hjortshøj – COASTRecommended ProductsFiber Cements / CementsSwisspearlSwisspearl Largo Fiber Cement PanelsWoodSculptformTimber Click-on BattensFiber Cements / CementsDuctal®Ductal® Cladding Panels (EU)WoodParklex International S.L.Wood cladding – FacadeText description provided by the architects. The Silo is part of the transformation of Copenhagen’s Nordhavn (North Harbour) – a vast post-industrial development, currently being transformed into a new city district. Designed by Danish architects COBE with clients Klaus Kastbjerg and NRE Denmark, a 17-storey former grain silo and the largest industrial building in the area has been transformed into “The Silo”, housing residential apartments and public functions.Save this picture!© Rasmus Hjortshøj – COASTInside-out transformationIn order to bring The Silo’s industrial concrete facade up to current standards, the exterior of the existing silo has been reclad, while the interior has been preserved as raw and untouched as possible. An angular faceted exterior facade made of galvanized steel has been installed to serve as a limate shield. This has allowed the building’s characteristic slender tall shape to be maintained.Save this picture!© Maria GonzalezSave this picture!© Rasmus Hjortshøj – COASTSave this picture!© Rasmus Hjortshøj – COASTDan Stubbergaard, Founder and Creative Director of COBE, says: “We wanted to retain the spirit of The Silo as much as possible – both in terms of its monolithic exterior and majestic concrete interior, by simply draping it with a new overcoat. The aim was to transform it from the inside out in such a way that its new inhabitants and the surrounding urban life would highlight the structure’s identity and heritage. Hence, the use of galvanized steel for the facade, which patinates in a raw way and retains the original harbour character and material feel, lending a roughness and raw beauty to the area, as in its industrial past.”Save this picture!© Rasmus Hjortshøj – COASTSave this picture!© Rasmus Hjortshøj – COAST38 unique apartmentsThe spatial variation within the original silo is immense due to the various functions of storing and handling grain, creating space for 38 unique apartments. Single and multi-level apartments range from 106 m2 to 401 m2 in size, with floor heights of up to 7 meters. All apartments have panoramic, floor-to-ceiling windows and balconies, and several have been preserved in raw concrete. The window frames are hidden on the outside of the existing concrete walls, offering expansive views of the city skyline and the Oresund coast.Save this picture!© Rasmus Hjortshøj – COASTSave this picture!10th Floor PlanSave this picture!© Rasmus Hjortshøj – COASTA mix of private and public functionsBoth the top and lower levels have public access. The top floor consists of a mirrored glass box housing a public restaurant with a 360-degree view of the city and the sea. The glass facade mirrors the surroundings in the daytime, and at night it is reminiscent of a lantern. The ground floor is designed as a flexible event space.Save this picture!© Rasmus Hjortshøj – COASTDan Stubbergaard says: “Private housing and public functions ensure that the building remains active all day. The public functions at the top and bottom also ensure a multidimensional experience for the various users of the building. From the top you can see almost all of Copenhagen in one panoramic view. It is completely unique, and something all Copenhageners will have the chance to experience. The Silo will be inhabited, but will also be a destination. An urban focal point for the new development at Nordhavn.”Save this picture!© Rasmus Hjortshøj – COASTSave this picture!© Rasmus Hjortshøj – COASTDan Stubbergaard continues: “By revitalizing our industrial heritage, we discover new potential and highlight historical traces in our cities. They represent a built resource. They represent our history. By doing so, we can transform what many people today perceive as industrial trash into treasure.”Save this picture!© Rasmus Hjortshøj – COASTThe Silo was completed in May 2017, when its first residents moved in. The remaining residents will move in during the next couple of months, and the restaurant on the top floor is due to open later this year. CPH City & Port Development is currently showing an exhibition on the ground floor of the building on the future development plans for Nordhavn, also created by COBE.Save this picture!© Rasmus Hjortshøj – COAST Area:  10000 m² Year Completion year of this architecture project CopyAbout this officeCobeOfficeFollowProductsGlassConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousingApartmentsRefurbishmentCopenhagenIcebergOn InstagramDenmarkPublished on May 22, 2021Cite: “The Silo / Cobe” 22 May 2021. ArchDaily. Accessed 10 Jun 2021. ISSN 0719-8884Browse the CatalogPanels / Prefabricated AssembliesTechnowoodGRP Siding Façade SystemGlassMitrexSolar GreenhouseMetal PanelsAurubisMill Finished Copper: Nordic StandardMetallicsHAVER & BOECKERArchitectural Wire Mesh – MULTI-BARRETTE 8130Enclosures / Double Skin FacadesIsland Exterior FabricatorsCurtain Wall Facade SystemsSealantsEffisusGutter Repair – TiteGutter3Aluminium CompositesSculptformAluminium Click-on BattensTiles / Mosaic / GresiteMargresPorcelain Tiles – Linea PrestigeMetallicsRHEINZINKZinc Roof Systems – Click Roll CapsTiles / Mosaic / GresiteTerrealTerracotta Cladding TileDoorsECLISSESliding Pocket Door – ECLISSE UnilateralWindowsJoskoWindows and Sliding Doors – ONE SeriesMore products »Save想阅读文章的中文版本吗?混凝土“筒仓”披上镀锌表皮,酷到没朋友 / Cobe是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Architects: Cobe Area Area of this architecture project Denmark The Silo / Cobe Photographs Save this picture!© Rasmus Hjortshøj – COAST+ 37Curated by Fernanda Castro Share Projectslast_img read more


Over 4,000 ESB customers without power in Donegal as Storm Gertrude hits


first_img Twitter Twitter 75 positive cases of Covid confirmed in North Homepage BannerNews Pinterest Further drop in people receiving PUP in Donegal WhatsApp WhatsApp Man arrested on suspicion of drugs and criminal property offences in Derry Facebook Google+ Main Evening News, Sport and Obituaries Tuesday May 25th center_img Facebook Storm Gertrude has hit bringing severe winds and rain to all areas overnight.Gusts of up to 130 kilometres per hour have been battering the country with the North, West worst affected.There are almost 2 thousand ESB customers without power in Stranorlar, 1714 in Milford, 529 in NewtownCunningham and 93 in Donegal. Power is expected to be restored to most areas by 4.30 later today.Met Éireann has an organe weather alert in place for Donegal until 9 o clock this morningBut forecaster David Rogers says things should start to improve later today:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/01/storm7.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Previous articleMickey Harte names four Tyrone league debuts for Cavan gameNext articleFresh commitment on future of Donegal Community hospitals – McHugh admin RELATED ARTICLESMORE FROM AUTHOR Pinterest Google+ Over 4,000 ESB customers without power in Donegal as Storm Gertrude hits 365 additional cases of Covid-19 in Republic By admin – January 29, 2016 Gardai continue to investigate Kilmacrennan firelast_img read more


Donegal teachers engage in nationwide lunchtime TUI protest


first_img Facebook A nationwide lunchtime Teachers Union of Ireland protest has ended.The Teachers Union of Ireland protested today against pay inequality and said it is impossible to attract and retain young teachers.Greg Hughes spoke to some participating teachers outside Finn Valley College who say it is important action is taken to allow future generations who choose to enter the profession, remain in Donegal rather than have to travel to other countries for better pay.Seamus Ferry, member of Executive Board of teachers and Crona Kerr, Chair of the Donegal Branch of the TUI both voiced their concerns:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2018/02/protest.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Pinterest Twitter By News Highland – February 1, 2018 Facebook Important message for people attending LUH’s INR clinic WhatsApp RELATED ARTICLESMORE FROM AUTHOR Donegal teachers engage in nationwide lunchtime TUI protest Harps come back to win in Waterford Google+center_img Homepage BannerNews Previous articleMc Garvey calls for restoration of health boardsNext articleToland and Carr named on Ireland WU17 squad News Highland WhatsApp Google+ News, Sport and Obituaries on Monday May 24th Journey home will be easier – Paul Hegarty DL Debate – 24/05/21 Arranmore progress and potential flagged as population grows Pinterest Twitterlast_img read more


Two men charged with murder of off-duty Chicago police officer


first_imgamphotora/iStock(CHICAGO) — Two men have been arrested for the murder of an off-duty Chicago police officer, authorities said. Menelik Jackson, 24, of South Holland, Illinois, and Jovan Battle, 32, of Chicago, have been identified by police as the individuals who opened fire on the car Officer John Rivera was sitting in early Saturday morning.One of the suspects was an applicant to be an officer with the Chicago Police Department. He was arrested during a polygraph test for a background check for committing an armed home invasion. A judge subsequently put him on probation, Chicago Police Department spokesman Anthony Guglielmi told ABC News.Rivera, 23, had finished his shift a few hours before and was with another off-duty officer as well as two friends. The group was leaving a nightclub in downtown Chicago when they were ambushed, police said.Rivera was shot and killed. One of his friends was also shot and wounded. The unidentified victim was in critical condition and undergoing surgery over the weekend, police said. “It’s just a shame, this kid, 23 years old, had his whole life and career ahead of him, and he gets gunned down senselessly,” Eddie Johnson, the superintendent of the Chicago Police Department, said at a press conference Saturday afternoon. “Right now, I’m disgusted.”Police announced Monday morning that Jackson and Battle had been arrested and charged overnight. They each face one felony count of first-degree murder and three felony counts of first-degree attempted murder. Jackson also faces a charge of resisting or obstructing law enforcement. Copyright © 2019, ABC Radio. All rights reserved.last_img read more


Study reveals dementia crisis


first_imgBritain is ignoring its dementia crisis, a recent study conducted by Oxford University’s Health Economics Research centre suggests.The study found that each dementia patient costs the economy £27,647 per year; five times more than a cancer patient and eight times more than a heart disease sufferer. Yet only £50m is spent per year on research, compared with heart disease at over £150m and cancer at £590m.The study has also shown that the number of people with dementia, at 822,000, is 17% higher than previously estimated and will increase to one million before 2025. It is expected that one in three people over 65 will contract dementia before they die.Rebecca Wood, the Alzheimer’s Research Trust Chief Executive, said, “If we spend a more proportionate sum on dementia research we could unleash the full potential of our scientists in their race for a cure.”last_img read more


Peaceful Protesters Air Concerns Over Wind Farms


first_imgBy MADDY VITALEJeff Reichle and his son, Wayne, didn’t hold up signs expressing their opposition to a proposed offshore wind farm during a peaceful protest Tuesday outside of the Cape May County Administration Building in Cape May Court House.But the two men, from Lund Fisheries Inc. in Cape May, along with several of their fellow fishermen and women, are concerned.They are concerned about their livelihood and what the gigantic wind turbines built in the ocean could mean to marine life and how they could safely navigate the structures and what the project would do to commercial and recreational fishing.“Our issue is they haven’t reached out to the fishing industry,” said Jeff Reichle, chairman of Lund. “People think you can go fish somewhere else. But that is not the way it is. This is our business. We just don’t know how this will affect us. There are too many unanswered questions.”Wayne Reichle added, “There is no proof that the wind farm will have a positive impact on fishing, only negative.”Wayne Reichle, left, and his father, Jeff Reichle, both of Lund Fisheries Inc. in Cape May, worry about what a wind farm could do to their industry.The project, by the Danish energy company Orsted, is still in its permitting phase. If all is approved, there would be 98 towering turbines set a mile apart in the waters 15 miles off the coast of Atlantic and Cape May counties as early as 2024.The Bureau of Ocean Energy Management (BOEM), a federal agency, is reviewing the environmental impact and operations plans for the project.Another wind farm project is proposed by another company, Atlantic Shores Offshore Wind, and if approved, would be located about 10 miles off Barnegat Light in Ocean County.The protest Tuesday was organized by Tricia Conte, who represents “Save our Shoreline NJ,” a group of nearly 4,000 concerned businesses, homeowners, residents, fishing community members, and New Jersey shore vacationers.During the protest, Cape May County Commissioner Director Gerald Thornton came out to speak to the attendees.He told them that he was opposed to the wind farm and that he, along with his fellow Commissioners who stood outside with him, would approve a resolution at Tuesday’s meeting opposing wind farms.The resolution was unanimously approved.Cape May County Commissioner Director Gerald Thornton addresses the crowd during a protest against the proposed wind energy farm off the South Jersey coast. (Photo courtesy Cape May County)In a statement prior to the protest, Thornton said, in part, “The primary purpose of my objection is concerns for our commercial fishing industry, which is the second most important economic engine for Cape May County.”He continued, “I have not seen enough information to convince me that our sea life won’t be harmed by this development. Equally as important, I cannot support a project who is not listening to our people.”Thornton also said, “The fishing community should be better represented in development of these plans to alleviate their concerns.”He noted that U.S. Rep. Jeff Van Drew, whose congressional district includes Cape May County, is also opposed to the wind farms.Ocean City Councilman Michael DeVlieger, an outspoken opponent of the wind farm, attended the protest in support of the Commissioners’ resolution.“The state’s plan to install these massive wind turbines off our coast endangers our environment, our economy, and our way of life,” DeVlieger said. “I sincerely appreciate our Commissioners for standing up for our coastal communities.”While most of the 30 or so people who gathered for the event were there to oppose the wind farm, there were a few people who were in favor of the project, which is touted to deliver clean, renewable energy.Cape May County Commissioner E. Marie Hayes, left, speaks with Martha Oldach, of Ocean City.“I am absolutely for the project. If we don’t do something to help the environment, we will be in trouble,” Jody Stewart, of Little Egg Harbor, said.Stewart’s friend, Gretchen Landenburger, of Cape May, also is in favor of wind farms. “I support the wind farms to help the environment,” she said.But lifelong Ocean City resident Martha Oldach said she is absolutely against the wind farm project.“I’m horrified about the possibility of a wind farm project here,” Oldach said. “I absolutely don’t want it.”Oldach held up a sign as she spoke with Cape May Commissioner E. Marie Hayes, who along with Vice Director Leonard Desiderio and Commissioner Will Morey, stood by as Thornton spoke to the crowd about his opposition to wind farms.Conte, who represents Save our Shoreline NJ, remarked about the peaceful protest, calling it “definitely a success.”“Hearing from Commissioner Director Thornton and Congressman Van Drew and discussing their opposition to offshore wind farms was tremendous,” Conte said.She continued, “Seeing Facebook group followers coming together in opposition makes me feel thankful that people are not only opposed to offshore wind, but are willing to take their time to come to Cape May Court House to show their support. The energy from the group in attendance was invigorating.” Peaceful protestors from Ocean City display signs opposing a project slated for the waters 15 miles off the South Jersey coast.last_img read more


Contract boosts growth for Leeds-based bakery


first_imgA new deal with independent sandwich chain Philpotts has contributed to Exquisite Handmade Cakes’ 30% year-on-year growth over the past two years.The Leeds-based bakery firm is currently supplying the 23-shop chain with a range of cakes and traybakes and, from next week, Philpotts will be adding another six to the menu. These include: Dark Sticky Ginger, Chocolate and Vanilla Marble, and Brandy Fruit Loaf.The business, started seven years ago by former chartered accountant Viv Parry, is currently turning over £1.7m, and employs 30 staff. It produces gateaux, loaf cakes, traybakes and wrapped bakery goods, which are supplied to retail outlets, such as cafés, as well as airlines.The firm has also recently invested in a new “retail-focused” packaging rebrand, which MD Parry said has allowed the business to expand sales of its branded range with two of its key foodservice distribution customers. She told British Baker that the future growth is very much a staged plan to, in the short term, build on its brand and invest in sales and marketing initiatives.“We are also looking at new markets,” Parry continued. “To date, we have concentrated on ambient foodservice distributors, but we are now looking to expand into supplying frozen food distributors and, to facilitate this, we have invested in a cold store facility on site. We will also be looking at other new markets including other airlines, train lines and other high-end retail with a new range of products.”The firm also hopes to move to a new site within the next two years, to support its future growth plans.Parry said the decision to maintain its home-baked and hand-crafted quality ethos, and to really listen to customer feedback is what helped the business take off. “We have regular tasting panels and if a line doesn’t retain the great ‘just home-baked’ taste, it doesn’t go out,” added production director and master baker Chris Parrington.last_img read more




Recent Comments