Paul Turton

📈 New Insights: Scotland Outperforming in Wholesale Channels Exclusive data from TWC and HDI, commissioned by the Scottish Wholesale Association, reveal that Scotland is outperforming England and Wales across key wholesale channels, especially in convenience retail and foodservice. Thank you to Hospitality Data Insights (HDI) and TWC Group for sharing these valuable insights to SWA members at the webinar on Tuesday. Key takeaways: 🔹 Scottish wholesalers lead in value growth within the convenience sector, boasting the largest regional share of sales in GB. 🔹 Strong growth across seven out of 10 retail categories, particularly in impulse buys. 🔹 Hospitality sales grew by 2.1% year-on-year, with pubs and bars leading the charge. Despite economic pressures, the Scottish wholesale sector remains resilient and optimistic about future growth opportunities.

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Learn how to integrate Consumer Duty into your company customer outcomes. Dive into the key drivers of culture and align your purpose with this essential duty. Explore more at: https://okt.to/1LTlZK #ConsumerDuty #Leadership #CorporateCulture #CustomerOutcomes #FinancialServices

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You have to find 30% in efficiency just to mitigate NMW rises over the past couple of years (with another due next year) and the additional budget burdens. #manufacturing #wefixfactories #efficiencies

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Stephen Owens, CEO and his team at Christie & Co have recently released their business outlook 2024 report for Pubs and Restaurants.  Key highlights include: - 7.2% like for like sales growth in pubs - 3.4% like for like sales growth in restaurants  - Increased consumer sentiment across the sector -The late-night sector has continued to struggle, with the growth of the late-night bar, changing social trends and disproportionate impact of the cost-of-living crisis on the student and younger demographic contributing to this. Entertainment-led venues are faring better - Consumer habits have shifted with regards to food, drinking and dining out times – a continuation of last year. This is a really good reference document for the UK sector, so for more in-depth analysis please click on the link below – Enjoy https://lnkd.in/eMXjwHxh #restaurants #pubs #insights

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Britvic plc has turned down Carlsberg Group's £3.1 billion takeover offer, highlighting the importance of precise valuation in M&A deals. Despite Carlsberg increasing its bid to 1,250 pence per share, Britvic’s board determined the offer undervalued the company and its #growth potential. This decision underscores the critical role of thorough #valuation processes in ensuring fair and successful transactions. As Carlsberg faces a July 19 deadline, the emphasis on accurate financial assessments are bought into focus. 🔗 Read the full article here: https://lnkd.in/ehenfCqk #MergersAndAcquisitions #Valuation #BusinessStrategy #CorporateFinance #Britvic #Carlsberg

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Kingfisher plc have published their Q3 results for the period ending 31 October 2024. Here’s the key points:- - Group sales at £3.2bn, -1.1% on like for like basis, reflecting continued weak demand in UK and France. - UK & Ireland £1.6bn - growth driven by Screwfix +1.8% LFL and TradePoint UK +4.9% LFL. B&Q -0.6% LFL. - Core sales resilient, big ticket showing some signs of improvement and seasonal still impacted by poor weather. - In France total sales £967m, -4.3% LFL although showing improvement from Q2. Read all about it here on Insight DIY - https://lnkd.in/eEEKUWdP Worth noting that B&Q’s total ecommerce sales have increased +14.3% year on year, driving overall ecommerce penetration to 14.6% (12.9% Q3 ‘23). B&Q Marketplace GMV +45% and now 41% of total ecommerce. Outlook for Q4, more of the same. #retail #retailnews #commerce #ecommerce

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Lots of interesting content and commentary being shared following the publication this morning of Kingfisher plc Half Year Results for the six months ended 31 July 2024. Overall performance has been described by the business as 'In line with expectations', but below the surface there are some interesting facts:- - Total KF Sales £6.756m, -1.4% below last year (-2.4% like for like). - UK & Ireland -0.2%, despite the horrible garden season, so fairly resilient. - French performance and market still in a bad place -7.2% like for like decline. - Weak performance of Big Ticket - same message as Wickes last week. - Strong performance from TradePoint UK, with like for likes +7.1% and now 22% of overall B&Q Sales - 20% this time last year. - B&Q like for like Sales -1.0% and Screwfix Sales +1.2%. - Total Group e-commerce sales +8.4% driven by UK and Ireland. - E-commerce overall KF Group penetration now at 18.3%. - B&Q Marketplace now 41% of B&Q ecommerce sales in Q2. - As of 31 July, B&Q had a total of 309 stores in the UK & Ireland and Screwfix had 938. - Screwfix continues to plan for up to 40 new stores in the UK & Ireland in FY 24/25 Read more detail on Insight DIY here - https://lnkd.in/ey7NkhNQ Have fun flicking through the 47 page presentation below - you're very welcome! #results #retailnews #homeimprovement #retail #commerce

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Networking is crucial for professional growth as it enables building connections, fostering growth, and facilitating mentorship. It expands access to opportunities, partnerships, and enhances professional development, making every connection count towards not just professional but also personal growth. #radiuspartners #sustainability

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🌟 Friday culture inspiration 🌟 Had a brilliant morning at a B Corporation* Surrey event hosted at Denbies Wine Estate Limited. Headline speakers were Anuradha Chugh, NED, Board member at B Lab UK, former CEO at Pukka Teas, and absolute powerhouse. And Douglas Lamont, CEO at Tony's Chocolonely, which is an inspiring mission led organisation driving exploitation out of the cocoa industry. Culture, and inclusion were huge parts of their messages, and here’s what resonated most: 𝟭.  𝗧𝗼 𝗱𝗿𝗶𝘃𝗲 𝗶𝗺𝗽𝗮𝗰𝘁, 𝗮𝗰𝘁𝗶𝘃𝗶𝘀𝗺 𝗼𝗿 𝗽𝗼𝗹𝗶𝘁𝗶𝗰𝘀, 𝘆𝗼𝘂 𝗻𝗲𝗲𝗱 𝗰𝗼𝘂𝗿𝗮𝗴𝗲 + 𝗰𝘂𝗹𝘁𝘂𝗿𝗲 𝟮.  𝗪𝗵𝗲𝗻 𝗶𝘁 𝗰𝗼𝗺𝗲𝘀 𝘁𝗼 𝘁𝗵𝗲 𝗰𝗹𝗮𝘀𝗵 𝗼𝗳 𝗽𝗲𝗼𝗽𝗹𝗲, 𝗽𝗹𝗮𝗻𝗲𝘁 𝗮𝗻𝗱 𝗽𝗿𝗼𝗳𝗶𝘁, 𝘁𝗵𝗲 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀 𝗰𝗼𝗺𝗲 𝗳𝗿𝗼𝗺 𝘁𝗲𝗮𝗺𝘀 – 𝗰𝘂𝗹𝘁𝘂𝗿𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗿𝗲𝘀𝗰𝘂𝗲. 𝟯.  𝗠𝗶𝘀𝘀𝗶𝗼𝗻 𝗹𝗲𝗱 𝗰𝘂𝗹𝘁𝘂𝗿𝗲𝘀 𝗮𝘁𝘁𝗿𝗮𝗰𝘁𝗶𝗼𝗻 𝘁𝗼𝗽 𝗾𝘂𝗮𝗿𝘁𝗶𝗹𝗲 𝘁𝗮𝗹𝗲𝗻𝘁 – 𝘃𝗶𝗿𝘁𝘂𝗼𝘂𝘀 𝗰𝗶𝗿𝗰𝗹𝗲 𝟰.  𝗖𝗵𝗮𝗻𝗴𝗲 𝗶𝘀 𝗹𝗶𝗸𝗲 𝗮 𝘁𝗶𝗱𝗲 – 𝗶𝘁 𝗴𝗼𝗲𝘀 𝗶𝗻 𝗮𝗻𝗱 𝗼𝘂𝘁. 𝗔𝗻𝗱 𝘆𝗼𝘂 𝘄𝗮𝗻𝘁 𝘁𝗵𝗲 𝘁𝗶𝗱𝗲 𝘁𝗼 𝗯𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 𝘂𝗽 𝘁𝗵𝗲 𝗯𝗲𝗮𝗰𝗵 𝘄𝗵𝗲𝗻 𝗶𝘁 𝗰𝗼𝗺𝗲𝘀 𝗯𝗮𝗰𝗸 𝗶𝗻 𝟱.  𝗜𝗻𝘀𝗽𝗶𝗿𝗲 𝗼𝘁𝗵𝗲𝗿𝘀, 𝗯𝘆 𝘀𝗵𝗼𝘄𝗶𝗻𝗴 𝘁𝗵𝗲𝗺 𝗶𝘁’𝘀 𝗽𝗼𝘀𝘀𝗶𝗯𝗹𝗲 Big thanks to Sally Pritchett, Hannah Keartland - outsourced Chief Impact Officer and Sebastian Elwell FPFS TEP for bringing us all together 💫 #Impact #CompellingCulture #MissionLed PS Buying chocolate or wine for gifts? Go for Tony’s or Denbies and know you're doing some good in the world 🌍 * My business Compelling Culture | B Corp™ is proud to be a Certified B Corporation. That means being part of a global community of businesses that meet high standards of social and environmental impact. Leading a global movement for an inclusive, equitable, and regenerative economy.

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The Disappointment of Brexit: Navigating the Challenges in Our Business Brexit has been a monumental event that promised a new era for the UK, but for many businesses, including ours, it has brought a series of unexpected challenges and disappointments. As we move forward, it’s crucial to share our experiences and how we’re striving to keep our business afloat despite the turbulence. The Difficulties We Face Since the UK officially left the EU, we have encountered numerous hurdles: 1. Supply Chain Disruptions: One of the immediate impacts has been on our supply chains. Customs delays, increased paperwork, and additional costs have made it more difficult to import and export goods efficiently. This has led to longer lead times and higher operational costs. 2. Regulatory Changes: Navigating the new regulatory landscape has been another significant challenge. The divergence in standards and regulations between the UK and the EU means we now have to comply with two sets of rules, adding complexity and expense to our operations. 3. Labor Shortages: The end of free movement has resulted in a shortage of skilled labor. Many of our valued employees have faced uncertainties with their residency status, and recruiting new talent has become increasingly difficult. 4. Market Access: Losing seamless access to the EU market has affected our sales. Tariffs and non-tariff barriers have made our products less competitive in Europe, and we’ve had to explore new markets, which is both time-consuming and costly. How We Are Working to Keep the Business Going Despite these challenges, we are committed to finding solutions and keeping our business resilient: 1. Diversifying Supply Chains: We are actively seeking alternative suppliers both within the UK and from non-EU countries to mitigate the risk of delays and reduce dependency on any single market. 2. Investing in Compliance: To manage regulatory changes, we have invested in compliance teams and software. This ensures we stay ahead of new rules and continue to meet all necessary standards. 3. Upskilling and Training: With the labor shortages, we’ve focused on upskilling our existing workforce and providing training programs to equip our staff with the skills needed to adapt to new challenges. 4. Expanding Digital Presence: To counteract the reduced market access, we’ve ramped up our digital marketing efforts to reach a global audience. E-commerce has become a significant part of our strategy, allowing us to tap into new markets more effectively. 5. Building Stronger Relationships: We’re strengthening our relationships with existing customers and partners by maintaining open lines of communication and demonstrating our commitment to overcoming these challenges together. While Brexit has undeniably been a source of disappointment and difficulty for our business, it has also driven us to innovate and adapt. We remain hopeful and determined to turn these challenges into opportunities for growth

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Kingfisher plc has today published their Q1 Trading Results for the period ending 30 April 2024. Key points - Q1 sales of £3.3bn; total sales +0.3% (constant currency) and -0.3% (reported) - LFL -0.9% including a +1.9% calendar impact (of which +1.1% relates to the leap year)(1) Thierry Garnier, Chief Executive Officer, said: “Trading in the first quarter has been in line with our expectations. We have seen continued resilience in our core categories, although ‘big-ticket’ sales have been weak reflecting the broader market as expected. In the UK, we have gained considerable share across our banners. Our trade proposition continues to resonate with customers, driving positive LFL sales at Screwfix and strong LFL sales growth of 8.5% at TradePoint. In France, while slightly improved on Q4, trading reflects the weak overall retail market. And in Poland, we are seeing encouraging sales trends as the consumer environment improves. More on Insight DIY here - https://lnkd.in/e2bBBeCi #retail #retailnews #homeimprovement #trading

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National Innovation Agency Sri Lanka Women's Chamber of Industry & Commerce Sri Lanka

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Losses Reduced At Booths After Year Of Robust Sales Growth Upmarket northern grocer Booths has delivered improved annual results after recovering from the impact of high inflation and the cost of living crisis. Newly filed accounts in Companies House covering the 12 months to 30 March 2024 show the retailer’s overall sales increased by 6.7% to £381.7m. Booths noted that it had benefitted from increased football, higher basket spend due to price inflation, and an additional Easter period when compared to the previous financial year. The group did not reveal like-for-like figures but said they increased. Having slipped into the red in 2023 due to higher costs and weaker sales, Booths’ pre-tax losses eased from £4.0m to £1.6m in the latest period. Meanwhile, EBITDA increased by £0.9m to £8.6m. The group revealed that it was continuing to utilise funds built up during the pandemic to make improvements to its operating systems and refurbish its stores. The first phase of an overhaul of its base sales, stock and systems infrastructure is expected to be completed by March 2025. Meanwhile, Booths noted that its customer experience score had increased after taking actions such as improving its café offer, enhancing value through loyalty card, and removing nearly all its self-scanning checkouts. A board statement in the accounts said: “The financial year continued to see the challenges of high inflationary pressures, high interest rates and cost-of-living challenges experienced by all, albeit at reduced levels compared to financial year 2022/23. “Against this background, we are pleased to report results above those planned at the beginning of the financial year, thus providing a continued sustainable platform for future growth. This was again achieved by staying true to our purpose through which we aim to inspire and nourish our customers’ desires for delicious food and drink.” After offloading its loss-making Hale Barns store to Asda in April, Booths now trades from 26 stores across Lancashire, Cumbria, Yorkshire, and Cheshire. The board concluded: “We have taken a prudent approach to delivering sustainable growth in 2023/24 and will continue to keep a weather eye on the trading background while introducing new and better ways of operating.” NamNews Implications: * Good to see constructive changes at Booths paying off. * However, in the interest of greater clarity… * …making it easier for suppliers to help… * …it would to have the inflationary element stripped out of the sales figure * i.e. volume sales… * …and also like-for likes reflected. * Finally, some reference to Booths’ experience of brand-to-own-label migration… * …and impact of the discounters… * …would place Booths in the context of other mults from a supplier perspective. #Turnaround

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https://lnkd.in/eQtrTMMK Very interesting article from Eddie Devlin from The Grocer reporting on the level of M&A activity with a specific focus on Food and Drink. The data for this report coming from Oghma Partners. Given the general noise surrounding 'dry powder' waiting to be deployed from the investment world, It was interesting to see that corporate firms have really been taking the opportunity to buy and build through acquisitive actions with M&A activity hitting an eight-year high! Corporate buyers up a massive 79.1% with PE only making up 9.3% of volume. This bias perhaps accounting for the lesser cumulative value of the deals. In my professional capacity focused on leadership effectiveness and operational efficiency I see a growing need for corporates who are acquiring firms to consider at what point do they look to assess synergies of scale and the relative merits of integration of operations, people and resources. Often an after thought for many businesses and arguably one of the biggest reasons/factors as to why acquired companies struggle to deliver upon the strategic intention that drove the acquisition decision in the first place. With easing inflationary pressure, and a hopeful fall in interest rates, then the forecast for the year ahead does look more favourable certainly for PE firms who have been more cautious in terms of deal volumes. One question that does spring to mind beyond the consideration around integration surrounds whether or not the PE firms run the risk of holding on for too long and loose the opportunity to acquire some very interesting brands/businesses to the corporates. Will they have as many attractive options to consider or will their focus be on undervalued or distressed purchases? #privateequity #dealflow #mergersandacquisitions #foodanddrink #fmcg #fastmovingconsumergoods

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This promises to be an interesting session exploring the real benefits of the Optimised approach to reaching Net Zero. #NetZero #OperationalExcellence #Sustainability #Optimisation

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SME’s have been experiencing belt tightening since the double whammy of COVID and Brexit: liquidity is scarce, COGs are on the rise and European export legislation is a headache. Many are facing chronic staffing issues – long term sick, lack of workers in the hospitality and services industries, and a wave of those now reluctant to return to the office. A new government talking about growth was a much-needed boost – until the whispers started about their intention to remove every lever in the toolbox used to support it. And the constant finger pointing at the previous government feels like an intentional distraction from the fact that they are a collective of business virgins.   These rumours have stagnated consumer purchasing and put fear into pretty much every SME I know. Looking at the FTSE performance pre-budget, the city was predicting a damaging speech.    But the budget started well with ‘our number one mission is growth’ (Starmer) – and the ‘only way to drive economic growth is to invest, invest, invest’ (Reeves) which makes me think that the government has heard the SME ground swell of fury. Or, for the cynics amongst us, leaked rumours of pending despair to make the actual blows less painful. I think we would all hope that the Custodians of UK Plc would not stoop so low.   With both the employers NI increasing from 1.2% to 1.5%, and the reduction of the secondary threshold from £9100 to £5000 from April 2025, and the new Day-one employment legislation pending, we will see many UK businesses move employment hubs to more favourable territories thus removing Treasury revenue. Whilst Reeves claims that the new employment legislation has been designed to prevent ‘Unfair dismissal, bullying in the workplace, [and to provide] access to paternity and maternity leave’ , so there is some irony that in this same budget we heard the appointment of a COVID corruption commissioner and crack down on benefit fraud. And let’s not forget the nearly 1mn Brits who are currently on long term sick leave. Clearly not all of our countrymen behave with integrity and honesty, but we are led to believe that will do in the work place once the Day-One policy becomes law. Hmmm.   As to CGT and Business Asset Disposal Relief, formerly known as Entrepreneurs Relief Tax : the increases in CGT could have been a lot worse, but one does have to question: is the £2bn this increase will raise by 2030 worth the upset it has caused the SME and entrepreneur communities over the last few weeks, and will for years to come with these small but significant increases? The changes to BADR are very unwelcome and dare I say foolish; this is not the £10mn at 10% it once was, and increasing this tax to ultimately come in line with the new lower-level CGT by 2026 makes a nonsense of it. A reinstatement of the original £10mn ERT with an increase to 15% would have gone a long way to soothe our exceptional founders very furrowed brows. An opportunity squandered. #budget #SME

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