Business Eye Aug Sept 2015

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Issue 153 Aug/Sept 2015 £2.50 Voted best Business Magazine in Ireland 2005 and Magazine of the Year for Northern Ireland

Shortlisted Magazines Ireland Awards 2011 Business To Business Magazine of the Year

MCS... Recruitment With An Ethical Twist Features: 08

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We’re Backing Business...

Arlene Foster

STRAIGHT TO BUSINESS Up to 40 flights a day around the UK from Belfast City. flybe.com

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Eye

Business Eye Profit 200...

2015 Figures Revealed

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Close To Home... Ciaran McAreavey’s New Challenge

Business Achievers Awards 2015

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This year’s awards categories are: Business Start Up Award

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Small Business Award

Food & Drink Award

Established SME Award

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International Business Award

Women Led Business Award

Help for what matters In association with:

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Contents

titanicbelfast.com Aug/Sept 2015 ISSUE 153

Government & Finance

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Private Sector Heads The Charge

Chris Ross, newly appointed as Managing Partner at Belfast law firm John McKee & Son Solicitors, talks about the growth of the firm across the board and how it is increasingly challenging the big names of the legal business around Belfast and beyond.

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A Material questions... Matrix Takes Up The Challenge

Cover Story

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MCS... Recruitment With An Ethical Twist

It’s been quite a while since Matrix, the Northern Ireland Science Industry Panel, stepped up to the mark with reports on a couple of key sectors of the local economy. In the coming months, a brand new Matrix report will look at Advanced Manufacturing, Materials & Engineering.

We catch up with report chairman. Dr. Rob Hardeman of Seagate.

An FTSE 100 company and one of the most respected names in personal financial services, St. James’s Place (or SJP as it is known to many....) has some £58 billion worth of funds under management.

That’s a strong enough pedigree for many customers around the UK. But here in Northern Ireland, as most of us know, even the strongest of corporate reputations doesn’t count for everything.

It’s people, and it’s the personal touch, that makes a difference.

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Top Performers Danske Bank Profit 200 Companies 2015

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Eye

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Banking & Finance Ciaran’s Close Challenge Ciaran McAreavey brings a wealth of experience to his new role. A former business banker with Ulster Bank, he’s been busy in Dublin with the Irish Bank Resolution Corporation (IBRC). Now he’s back on Donegall Square (or close to it, at least) to head up Close Brothers Commercial Finance’s operations here, which are based around invoice, asset and motor finance products.

Harbinson Mulholland & A Family Focus It’s a well known fact that small businesses account for a huge proportion of Northern Ireland’s business community... but it’s a truism too that family businesses are here in bigger numbers than in other areas. The team at Harbinson Mulholland don’t need to be told.

They’ve carved out a reputation for themselves advising and working with a wide range of family businesses all over Northern Ireland.

John Donnelly & SDC Trailers...Growth Below The Radar Earlier this year, John Donnelly, owner of SDC Trailers and chairman of the Retlan Group, celebrated 50 years in business. He has much to be proud of, with close to a thousand employees churning out trailers of such high quality that SDC has enjoyed stellar success in recent years, becoming widely known as the UK’s leading trailer manufacturer, and one of Northern Ireland’s most successful businesses.

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Patrick Gallen....Flying The Flag For Accountants

Patrick Gallen should fare well in his year as Chairman of the Chartered Accountants Ulster Society. He’s got charisma (…something that can’t be said of all accountants), he communicates well and – perhaps most importantly – he’s passionate about his profession and the role that it can play in business and the economy.

Eye on Energy

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Eye on Facilities Management

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Eye on Leadership

Eye on Investment

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Eye on Interiors

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Eye on Technology

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Eye on Finance

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Eye on FMCG

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Eye on Commercial Property

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Eye on Retail

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Eye on Business Destinations

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Eye on Moving On

Buckley Publications 20 Kings Road Belfast, BT5 6JJ Tel: (028) 9047 4490 Fax: (028) 9047 4495 www.businesseye.co.uk

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Wealth Management... New Challenges

Barry & Louise Smyth don’t need to be reminded that the recruitment industry isn’t always renowned for its ethics and customer service. In fact, both are quick to talk about how they’ve had to counter the shiny suited, quick talking image of the recruitment consultant over the seven years that MCS has been in business. It’s an approach that has worked well as the Belfast agency continues to grow.

Regulars

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New Era For Law Firm

She hasn’t gone away, you know! Arlene Foster might have taken over the challenging reins at the Department of Finance but her heart still lies firmly with the business community here. In a detailed analysis written exclusively for Business Eye, the Finance Minister underlines the challenges that lie ahead and pledges Stormont’s continued support for the private sector here.

Northern Ireland’s top performing private sector organisations are revealed for another year in the annual Business Eye Profit 200 survey, sponsored by Danske Bank. This year’s figures show the continued recovery of the local economy, and include comment and analysis from Danske’s Kevin Kingston & Angela McGowan.

Specials

Editor Richard Buckley Commercial Director Brenda Buckley

Business Development Manager Ciara Donnelly

Design Hexagon Tel: (028) 9047 2210 www.hexagondesign.com

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Photography Press Eye 45 Stockmans Way Belfast, BT9 7ET Tel: (028) 9066 9229 www.presseye.com

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We make no apologies for returning to a well-worn theme this time around...

Comment

“ As if the welfare crisis wasn’t enough as we head out of the summer recess, now we’ve got a political crisis to add to it.”

Sponsored by

P

Richard Buckley EDITOR Irish Magazine Editor of the Year 2005

icture the scene. An unusually sunny Friday lunchtime at Niall McKenn’a new Cast & Crew restaurant a stone’s throw from Titanic Belfast, Titanic Studios and what will be one of the city’s newest hotels.

A smattering of recognisable business faces around along with visitors to Belfast. Talk turns inevitably to the palpable atmosphere around the city generated by the impressive number of tourists coming here... and enjoying the experience.

Then take a look at the wider business scene and the local economy. Weary willies like the BBC’s wild-haired Robert Peston (the hair comment is possibly envy on my part.....) might be warning us that the Chinese downturn means we’ll all be burning in economic hell within months, but on the ground here, things are looking up.

Business is very definitely being done, jobs are being created, house prices are up and even commercial property is enjoying a revival of its own.

You can sense a ‘but’ coming here, can’t you?

And that ‘but’, of course, centres around the political arena. It’s a bit like Groundhog Day..... Here in the private sector (as our Business Eye Profit 200 figures show in this edition) we’re working hard to make a difference, whether we’re restaurant owners, hotel group directors, manufacturers or just about anything else.

Our politicians, meanwhile, remain mired in the kind of mud they’ve always been mired in. We’ve had a couple of killings over the summer months. That’s regrettable and it’s a tragedy for the families of those involved.

But do our politicians have to create such a drama out of it all? Can’t we leave the job of policing to the PSNI (asking them at the same time to be careful about what they say....) and move on?

It seems not. There’s something depressing about watching grim-faced politicians do the kind of media interviews that are unique to Northern Ireland.

You know the ones... where one politician does the talking and a group of four of five colleagues gather round behind him or her to look equally grim-faced and nod every now and then like those dogs people used to have in the back windows of their cars.

As if the welfare crisis wasn’t enough as we head out of the summer recess, now we’ve got a political crisis to add to it.

It’s enough to make you despair sometimes...

Interesting times on the media front around these parts.

Independent News & Media, owners of the Belfast Telegraph, signalled the end of an era when it announced the end of the line for the print operation based at the Telegraph’s familiar headquarters building in Royal Avenue, with the loss of 89 jobs.

It also confirmed that the building itself would be sold off, a move that will strike a chord for those of us who’ve worked there at various times over the years.

If that INM announcement wasn’t much of a surprise, news that UTV looks like selling off its television business to ITV did come as something of a shock to most people.

No details have been announced yet, but as era endings go, that will be an even more significant one. It will be the first time that UTV television will have moved out of local control since it all started at Havelock House back in 1958.

TV companies are under pressure from the new generation of on demand television (the likes of Netflix, Amazon and the rest). Newspapers face the threat of online news sources and the fact that younger generations have abandoned print media.

The media here and elsewhere has plenty of challenges to square up to.

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Eye on News

BELFAST MET APPRENTICESHIPS RAISE RECRUITMENT STANDARD Belfast Met apprenticeship programmes focus on providing a high standard of learning that will develop the employability of their students. From engineering to computer programming, it is clear to see that the benefits are multiple for learners to provide them with the right skills and careers; but there are also exceptional advantages for the employer.

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arillion, Ridgeway, and Fujitsu share their views on Belfast Met’s highly commendable training schemes.

Carillion HR Manager, Jacqui Dornan said “I’ve worked with Belfast Met for over 11 years now, we have an excellent relationship with Tutors and Training Support Officers who keep us regularly informed of Apprentice Development which is critical for our business succession planning”.

These words of commendation are a testimony to the care and attention that the Belfast Met Training Support Officers provide, which is down to a strong, clear-sighted and ambitious leadership. As a result Ridgeway’s employment needs for focused and adaptable recruits has been achieved by Belfast Met as General Manager Neill Killen comments – “We have the back-up, we have

Rosemary Burgess and apprentices

the right skills in place, and we have the right people training up and coming up into the business.”

Academies, foundation degrees, and higher level apprenticeships, provide an opportunity for learners study a few days a week at the College and work full time with a salary in a relevant company, which develops the practical skills required for their professional development.

Neill Killen and apprentice

Jacqui Dornan and apprentice

TUGHANS CONTINUES TO EXPAND WITH NEW APPOINTMENTS

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ughans, one of Northern Ireland’s leading commercial law firms, has continued to expand its senior team with three new appointments.

Pictured with Tughans’ Managing Partner Patrick Brown are newly appointed partners Joe Moore, John McGuckian and Ciara Lagan. John McGuckian and Ciara Lagan both come from the Corporate Department while Joe Moore is an expert in Real Estate. Tughans’ corporate and real estate divisions are the largest of their type in Northern Ireland.

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Rosemary Burgess supports the benefits of employers collaborating in training schemes, delivered by Belfast Met as it meets the company’s needs “In conjunction with Belfast Met we can shape the apprentices to deliver the service that we want and that is all through Belfast Met because of the way they have developed this programme, which is very difficult to equal and impossible to better“.

Patrick Brown said, “I am delighted to welcome, Ciara, John and Joe into the partnership. Tughans has a strong focus on promoting talent and these three lawyers have been recognised as leaders in their respective fields. We believe that through developing our people we can grow our practice directly in line with our client’s needs.”

Their appointment brings Tughans’ senior team to 25 partners, with six having been appointed since January this year. Tughans currently employs 130 staff in its Belfast based offices.

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Eye on News

Belfast Waterfront Hosts SESAM Over 700 health care professionals attended the first ever Annual Meeting of the Society in Europe for Simulation Applied to Medicine (SESAM) hosted by Belfast Waterfront Conference and Exhibition Centre.

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he 3-day event focused on the latest advances and innovations in medical simulation for assessment and training.

Growth in this sector has exploded over the past 20 years with Queen’s University Belfast alongside other leading institutes playing a crucial role in driving innovation. A proposed new state of the art Simulation Centre and Virtual Hospital at Queen’s will uniquely position the city in the UK and Ireland to spearhead developments in simulation based training and research.

Its prominent position within the

industry and accessibility made Belfast the logical choice as the host city for SESAM 2015. And indeed there was only one venue in Northern Ireland’s capital city which could accommodate a large delegation with ease, as well offer the perfect setting to discuss scientific, educational, and many other aspects of Simulation in Healthcare – namely Belfast Waterfront.

With the opening of its new 7,000m2 world class conference centre in Spring 2016, Belfast Waterfront is set to host many more medical conferences.

Future events will benefit from even greater flexibility and more choice, with

Back Row: Sonia Derbyshire, James Murray (SESAM Congress Chair), Antoine Tesniere (SESAM President) and Ian Walsh. Front Row: Sheena Davidson (Belfast Waterfront), Ulufer Sivrikaya (SESAM Secretary), William Trimble (Belfast Waterfront)

the addition of two interconnecting halls measuring over 2,500m2, meeting rooms accommodating up to 200 delegates and a 660m2 foyer. The

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Eye on Education

SSE Airtricity Backing Bright Sparks With Second Scholarship Fund SSE Airtricity, Northern Ireland’s largest provider of wind power, has launched the second year of the SSE Airtricity Scholarship to support students from the West and North-West of the country going on to third level education.

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he 2015 SSE Airtricity Scholarship, which totals almost £100,000 annually, was unveiled by Employment and Learning Minister Dr Stephen Farry with Chairman of SSE Ireland Mark Ennis. The Scholarship, which is funded by wind energy, is one of the most significant bursary schemes available to full time students in Northern Ireland.

The SSE Airtricity Scholarship is directly supported by the Regional Fund from SSE’s Slieve Kirk Wind Park near Derry-Londonderry, Northern Ireland’s largest wind farm. The Scholarship is open to applicants living in Co. Derry-Londonderry and Co. Tyrone and is designed to provide funding support from wind energy to students living in the vicinity of Slieve Kirk Wind Park who are going forward to Third Level education.

Students applying to either institute for the Scholarship are urged to apply before the deadline on September 30.

A range of full time Degree and full and part time Masters level courses are available with Ulster University and a range of Degree and Foundation Degree level courses with

Employment & Learning Minister, Dr Stephen Farry, Raymond Henderson, Ulster University and SSE Ireland Chairman, Mark Ennis.

South West College. This year a number of new courses have been added to the list of available options with South West College, giving students more courses to choose from.

Scholarships are available for a broad range of subjects with a particular emphasis on science, technology, engineering, and mathematics (STEM) courses.

In addition SSE Airtricity is announcing that it will entirely fund two online courses again this year at South West College offering a Level 2 Certificate qualification in Health & Safety and Microsoft Skills. There are no minimum entry requirements to these online courses and no upper limit on the number of students who can participate.

Mark Ennis, Chairman of SSE Ireland, said: “When we launched the

Scholarship last year we said it was all about supporting the educational future of the next generation through local energy.

After one year, we’re extremely proud of the success of our inaugural Fund having supported more than 20 students in gaining access to high quality education at two of Northern Ireland’s most outstanding educational institutions.

“Supporting Third Level education involves a large financial commitment and through the Scholarship Fund, we are able to make the educational aspirations of families local to our new wind farms a reality. The Scholarship demonstrates the company’s continued commitment to working in partnership with and investing in local communities around our wind farms.”

Raymond Henderson from Co. Londonderry, who is studying an MSc in Stratified Medicine at Ulster University, received funding towards his postgraduate degree last year and commented on how the Scholarship Fund benefitted him: “The SSE Airtricity Scholarship Fund provided me with a real boost towards my studies, both financially and academically. The Scholarship has allowed me to return to university and pursue a career in science, a move that may not have been possible without the support of the Fund. I would wholeheartedly encourage any potential undergraduate or postgraduate student to make an application for the programme, and to take full advantage of the meet and greet programmes that are a part of the scholarship.”

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Eye on News

ASM ON TOP OF ITS GAME FOR 20 YEARS This month marks the twentieth anniversary of one of Northern Ireland’s leading accountancy firms, ASM Chartered Accountants.

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ince its launch in 1995, the firm has grown rapidly and today stands as one of the largest accounting and management consultancy firms in Ireland, with offices in Belfast, Dublin, Dundalk, Dungannon, Magherafelt and Newry, with a 160 strong team.

The firm specialises in a range of accountancy disciplines that include: corporate finance, audit and accounting, internal audit, consultancy services, taxation, hotels, tourism and leisure, insolvency and forensic accounting.

Norman Adams, Stephen Sproule and Michael McAllister were the founders of the business and are still very much part of the firm today.

Speaking at the recent anniversary event, founding director, Stephen Sproule said: “I am absolutely delighted to be here today with the entire team, many of whom have been here since the very beginning.

“From day one, myself, Norman [Adams] and Michael [McAllister] had a vision to be one of the leading accountancy firms in the country with the ability to work in both jurisdictions.

“The business grew quickly and we soon established a reputation as a provider of professional services around the Belfast area, and subsequently Magherafelt, which broadened our reach into new markets offering more specialist requirements to our clients.

“The acquisition of local firm, Robinson & Co gave us our base in Dungannon. Which, alongside Magherafelt gives us a very strong presence in mid-Ulster area.”

ASM made a definitive step into the Republic of Ireland in September 2009, with its merger with O’Hare Finnegan. With both directors, Michael O’Hare and Ian Finnegan remaining within the firm and heading up the Dundalk and Newry offices.

Today ASM’s local presence across Northern Ireland and the Republic of Ireland exceeds a number of its international rivals.

The client base spans small, owner/managed and family businesses to large public bodies and corporates across Ireland.

Michael McAllister commented

: “Our point of difference lies in our local market focus, our commercial approach and our desire to consistently use more senior and experienced staff than our competitors.

“This approach has enabled us to obtain a market leading reputation in our key disciplines.

“We are constantly looking for ways to innovate in order to improve our offering to clients.

“That, together with our strong local presence, means we can always match an advisor to the requirements of a particular job.

Norman Adams noted that “We stay ahead of our competitors by deploying the most senior and experienced people we can. That said, we also like to nurture and shape local graduates to give them the opportunity to learn in a fast-paced environment, taking in an average of 15 annually as part of our graduate programme.

Stephen concluded: “I would like to take this opportunity to thank our exceptional team and loyal client base for their support over the past two decades.”

Founding directors of ASM Chartered Accountants, Michael McAllister, ASM Magherafelt and Norman Adams, ASM Dungannon are pictured with Mentalist David Meade, who entertained the 160-strong team at the recent 20th birthday celebrations alongside Stephen Sproule, ASM Belfast.

Rainbow Communications Signs New Wholesale Broadband Deal With BT Rainbow Communications has signed a new two year, multimillion pound wholesale deal with BT for calls and managed broadband services to enhance its customer offerings.

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ommenting on the deal, Eric Carson, director of Rainbow Communications said, “Rainbow is committed to delivering a quality and reliable service to our customers. This new agreement with BT Wholesale, for the supply of calls and managed broadband including superfast broadband services, will ensure that our customers continue to receive the quality service they expect, whilst enabling them to access the latest cloud technologies.”

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Frank McManus, head of wholesale sales and services, BT Ireland, added, “We are delighted to be Rainbow’s supplier of choice to enable it to offer its customers state of the art solutions today that will change the way they work and behave tomorrow. Next generation cloud services, voice over IP and hosted applications are just a few of the solutions Rainbow can offer its customers through these services, all underpinned by Northern Ireland’s

extensive fibre broadband network.”

According to the most recent Ofcom* communications market report, Northern Ireland has the highest proportion of premises able to access fibre broadband services in the UK. With consumers and businesses now demanding more applications and technology that require superfast speeds, Northern Ireland remains ahead of most

major European cities for availability of high speed, next generation broadband services which is critical to its continued economic growth.

For more information on broadband rollout across Northern Ireland visit www.nibroadband.com

Follow the Finalists on

New Series Starts September 2015

PRIVATE SECTOR IS DRIVING FORCE IN ECONOMIC RECOVERY 12

Eye on Government In an exclusive article for Business Eye’s Profit 200 special edition, Finance Minister Arlene Foster MLA offers her vision of a Northern Ireland economy with a vibrant private sector at its heart......

By Finance Minister Arlene Foster MLA

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orthern Ireland’s private sector is the driving force in our economic recovery. Growth in annual output averaged 1.6% in the 12 months to the end of March 2015, driven by steady performance in manufacturing and services and a pick-up in the construction sector. This positive performance has been reflected in the labour market where we have seen unemployment fall steadily and rising levels of employment support higher levels of consumer and business confidence. The fact that this growth has been driven by the private sector is encouraging as we seek to rebuild and rebalance the Northern Ireland economy – the key objectives in the Executive’s Economic Strategy.

That said, we have some way to go to recover lost ground. It is estimated that the economy is about 8% smaller than at its peak in 2007, and as the UK Government continues to prioritise deficit reduction, with the implications this has for public spending locally, the onus is firmly on the private sector to continue to drive this growth. I have every confidence that our local business community has what it takes in this regard. But I also fully recognise that firms in Northern Ireland face a range of challenges as they seek to exploit business opportunities at home and further afield.

The Executive is committed to developing Northern Ireland’s skills provision and supporting businesses to grow. As Finance Minister, I want to create conditions for this growth in Northern Ireland. That’s why I have placed such a priority on securing the devolution of Corporation Tax powers.

Reducing Corporation Tax offers a real opportunity to bring about a step change in our economic performance

and my Department continues to work with the Government to ensure these powers can be successfully transferred.

I am also acutely aware that having a competitive cost base is of utmost importance. Business rating policy has benefited from local flexibility to help many of Northern Ireland’s businesses through the economic downturn, even at a time of unprecedented pressure on public finances. This year’s budget (2015-16) allows around 25,000 non-domestic ratepayers in Northern Ireland to continue to benefit from at least a 20% discount through the Small Business Rate Relief Scheme, delivering a direct saving to business of almost £20m.

Industrial de-rating is also unique to Northern Ireland - delivering almost £60m of savings to 4,300 manufacturing firms this year.

domestic and non-domestic ratepayers who would otherwise have faced steep increases as a result of the creation of the new Councils. The long awaited non-domestic rates revaluation was completed this year. Although painful for some, it was necessary to correct the imbalances that have grown up in the way the rating burden is distributed. Sectors and trading locations that have not fared so well since the last Revaluation in 2003 now pay lower bills.

Looking beyond this year, my Department will be initiating a wide ranging review of the non-domestic rates system, with plans to begin work in autumn.

Public sector procurement is also important in supporting the local private sector and should create opportunities for all. The 2015-16 budget allows for £1.1 billion of departmental capital spend which will be a boost for the construction sector and its wider supply chain. Almost 75% of contracts awarded by the Centres of Procurement Expertise last year went to local businesses, the majority of which were SMEs.

“ My Department is leading the work in researching and enabling best practice in progressing reform in the public sector and encouraging collaboration both within and outside of government.

This includes working with the private sector to build innovative and improved services for Northern Ireland.”

Northern Ireland has led the way in the UK with the Empty Shop Rates Concession, which has delivered a 50% rates discount to around 420 new ventures setting up in empty retail premises in their first year. The scheme has reduced the number of empty units on our high street, helping to rejuvenate our town centres.

My Department has also set aside up to £30m for a three year District Rates Convergence Scheme that will provide an automatic subsidy to moderate the rates bills of the many

I am committed to ensuring that this success continues and that the procurement process is as straightforward and accessible as possible.

Just as the private sector has had to adjust, innovate and show resilience through difficult times, so too must government become more innovative in its delivery of public services. There is much for government to learn from the private sector in that regard and I am keen to ensure that happens through engagement and co-operation with industry. As we reassess how we maintain public

services in a reduced spending environment, I see increasing opportunities for business to partner with government.

My Department is leading the work in researching and enabling best practice in progressing reform in the public sector and encouraging collaboration both within and outside of government. This includes working with the private sector to build innovative and improved services for Northern Ireland. The Organisation for Economic Cooperation and Development’s, (OECD) strategic review of public sector reform in Northern Ireland will help us to further identify best practice solutions in areas where we can improve and partner business and the third sector.

Growing our economy remains the Executive’s number one priority and we will support businesses to invest and grow to achieve that aim. We are pursuing an ambitious but necessary programme of public sector reform. We are seeking to create a tax and public policy framework which supports strong business growth. We are working hard to generate the skills, foster innovative capacity and develop our economic infrastructure to sustain progress and to maximise the potential benefits in a reduced corporation tax environment.

I want to reassure the business community that I will work relentlessly to secure the economic vision we all share – a vision of an economy where there is a vibrant private sector which is competitive on a world stage, and where there is growing prosperity for all. As Finance Minister, I look forward to building on the positive relationships I have developed with the business community over many years.

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Eye on News

IRVINE RETURNS TO HIS ROOTS Campbell College has welcomed award-winning broadcast journalist and Old Campbellian, John Irvine, as Chief Guest at the School’s Prize Day celebrations when the Campbell College community celebrated the outstanding performance of pupils in every field.

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eadmaster, Mr Robert Robinson, reflected on a great year. “At Campbell College we talk about ‘Inspiring Individuals to be the very best they can be’. Enabling each and every pupil to deliver their ‘Personal Best’.

As the School year comes to a close

we celebrate these personal bests at Prize Day when we recognise achievement and the hard work that enables achievement. We talk about inspiring individuals but it takes many individuals working together as a team to ensure our boys achieve their full potential.

John Irvine, Robert Robinson - Headmaster and Sam Jordan Head Prefect flanked by members of the school’s Pipe Band.

This year we were delighted to welcome John Irvine as Chief Guest and proud to stand in

front of our Campbell community to celebrate the performance of our pupils in every field.”

GO POWER ANNOUNCE NEW PARTNERSHIP WITH ULSTER RUGBY Go Power, recently rebranded from LCC Power, has signed a new two year partnership with Ulster Rugby.

The agreement, which will see Go Power become one of the main jersey sponsors, with the logo prominently featured on the back of the Ulster Rugby shirt and branding visible around Kingspan stadium.

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o Power, which is part of the LCC Group, now enjoys circa 20% market share within the Northern Ireland business market.

The LCC Group, is now established as one of Northern Ireland’s top performing firms across all sectors of business, and came in at the number 21 spot in the Belfast Telegraph’s ‘Top 100 Companies list’.

The Cookstown based business has enjoyed a period of continuous growth within its gas and electricity provision.

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Furthermore, the company continues to grow its ‘Go’ brand of petrol stations, with more than 35 scattered across Northern Ireland and the Republic, having recently opened a new Go Station in Dublin City.

Speaking after agreeing the two year deal with Ulster Rugby, Daniel Loughran of Go Power said the companies’ management team were delighted to be associated with Ulster Rugby, “This is a big announcement which we are delighted to make.

Over the past few years LCC

Power has grown rapidly, and we are delighted that the newly rebranded Go Power logo will be prominently positioned on the back of next season’s Ulster Rugby jerseys and around the Kingspan stadium. We believe that the rapid growth of Ulster Rugby mirrors our own, and we look forward to a period of partnership with everyone at Kingspan Stadium. We hope to be able to help Ulster light up the Kingspan stadium over the foreseeable future.”

The achievements of the company, combined with a growing portfolio of business power supply contracts show massive progress, given the fact that the company only began trading in Northern Ireland in April 2012.

At present, Go Power supplies electricity exclusively to the business market, and has not, as yet, entered the domestic market.

The LCC Group was established in 1986, and is the leading solid and liquid fuel importer and distributer on the island of Ireland. The company established LCC Power in April 2012, and in the past year has experienced a period of rapid growth. In the last 12 months alone, it has went from employing just 7 people at its Cookstown base to now employing 55, following the opening of a new office in Belfast.

Eye on Property

Property Purchase Via A Pension you are effectively buying the property from yourself or your company). In certain situations you can avoid the stamp duty, but advice must be sought in how to do this. In addition to these costs the pension provider may also charge certain fees to execute the transaction.

It is often said that when you make a significant property purchase you should consider how you will exit, or sell the property before you buy. This is very relevant when considering the use of the pension fund as a means of buying property. Ultimately the pension is designed to provide a tax free lump sum and income in retirement. If your entire fund is tied up in property this may not be possible and may mean a forced sale at some future point in order to facilitate your retirement.

Ewan Boyle, Director, Johnston Campbell

Increasing levels of profitability in the SME market has to be welcomed, and it is pleasing to see many of our NI based firms produce results which are outstripping those seen elsewhere in the UK.

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e all acknowledge, that if the local economy is to flourish and create long term sustainability, then the profitability of our local firms will be the key driver to that objective.

As a business owner you will appreciate that one of the downsides of increased profitability is an increase in tax.

As the economy improves, many individuals are looking to see what can be done to plan their affairs and utilize the improved business profits, in a tax efficient manner. A greater number, due to the recent

16

changes in retirement legislation, are utilising pension funds as part of that overall strategy. Of particular interest is using property as the main form of investment.

The first thing to mention is that only commercial property can be purchased by a pension fund. Many people therefore who run their own business, use the pension fund to either purchase new premises from which the business can run, or even purchase the existing building from either themselves or the company. This is probably the most common approach.

The reason that this works effectively is that any rental paid by the company is in effect put towards the pension fund, and therefore can be used to repay any borrowings, rather than it being paid either to a third party landlord. These rental payments are fully relievable as a business expense, and again are a tax efficient method of withdrawing money out of a business whilst building up a retirement pot for the business owner. Once the

property is inside the pension fund, then any capital growth is also free of tax, so many people are looking at doing this in the current climate, particularly if they currently own the property personally. This is because to move it into the pension fund whilst property prices are depressed could result in the saving of personal capital gains tax.

An issue to consider carefully before placing the property within the pension fund is the costs involved in such a transaction.

Firstly for a pension fund to hold property it must be a Self Invested Pension Plan (SIPP) or Small Self Administered Scheme (SSAS).

These types of arrangements carry higher set up and running costs as opposed to straight forward pension plans, so you need to make sure that these are fully researched and understood.

The next layers of costs that you need to take account of are the normal costs involved in making a property purchase. These will include legal fees and stamp duty (which are payable even if

“ The reason that this works effectively is that any rental paid by the company is in effect put towards the pension fund, and therefore can be used to repay any borrowings, rather than it being paid either to a third party landlord.�

Other things to consider are the effects of taking property of a company balance sheet as well as the restricted leverage imposed on pension funds to borrow monies. As ever, seek out professional help in order to way up the pros and cons fully.

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Eye on Banking

Supporting local ambitions for business growth

Paul McClurg, Senior Business Manager at Bank of Ireland UK

Bank of Ireland UK – in business for business – supporting ambition, promoting success

T

alk to any number of Bank of Ireland UK business customers and you hear a similar story told time and again. It’s the story of a bank with a passionate and knowledgeable business team who will go the extra mile to help and support their business customers to grow. It’s an approach that’s about building business confidence and a culture that’s about finding ways to continually improve and do things better.

Paul McClurg, Senior Business Manager at Bank of Ireland UK, says: “We are committed to being Northern Ireland’s ‘Enterprise Bank’ - that means investing in and building strong partnerships with our customers and taking the same enterprising,

18

innovative and competitive approach they do to help support their growth ambitions.”

But you don’t just have to take Paul’s word for it.

Bank of Ireland UK customer Greg Darby founded Yellow Moon in 1994, developing the business into what is now Northern Ireland’s largest post production facility, specialising in picture and sound post production. Greg and his highly skilled team work with many of the UK and Ireland’s leading independent production companies as well as a roster of international producers including HBO, the creators of the global smash hit, Game of Thrones.

Greg says: “The arrival of Game of Thrones to Northern Ireland was the biggest game changer for our business and our industry here. About seventy per cent of our business is now destined for the international market, with thirty per cent for local independent producers, which is a complete reversal of the situation just a few years ago.

“While the success is great,

the business is not without its challenges and it’s important we work with a bank that understands the fickle nature and unpredictability of what we do.

“Cash flow can be difficult. Often the bulk of our year’s work can fall into the winter months but Bank of Ireland UK understands the business and works with me to enable us to bridge the gaps and keep moving forward.

“ We are helping businesses of all sizes to grow – from start-ups to major employers in all sectors of industry and commerce right across Northern Ireland.”

“It’s also very important to me that I have one person at the bank that I call. Aaron McAuley is my relationship manager

and I like that - we have a great working relationship and the bank always delivers.”

The business is riding on the crest of a wave and relishing the opportunity to work on some of the biggest shows to hit our screens in recent years including, The Fall, Line of Duty and Dracula Untold. Yet, with all this success, Greg remains ambitious and has recently expanded into his third new premises in six years and has launched Yellow Moon Visual Effects.

He says: “Visual effects is a massive growth area. As the effects required by television scripts become more sophisticated and the technology available to provide them becomes more affordable it’s an increasingly large part of the production budget. We have to be competitive and that means we must invest in our facilities and over-deliver in what is a very competitive global market.”

Paul McClurg, says: “We are helping businesses of all sizes to grow – from start-ups to major employers in all sectors of industry and commerce right across Northern Ireland, particularly those who are investing in innovation and export markets.

We have an experienced business team accessible through our business centre and branch network across Northern Ireland and we are determined to support the development of a stronger and more vibrant economy here.

“Bank of Ireland UK has been operating in this region for more than 190 years, we know the market, we understand business and we have the people and the passion to help business to prosper.”

If you would like to talk to a Business Manager about your business plans and aspirations please call into your local Bank of Ireland UK’s business centre or branch.

Free Wi-Fi throughout More comfortable seating New exclusive SSE Reward lounge Opening 4.9.15

Eye on Cover Story

MCS...

SPECIALIST RECRUITMENT WITH AN ETHICAL TWIST Barry & Louise Smyth don’t need to be reminded that the recruitment industry isn’t always renowned for its ethics and customer service.

I

n fact, both are quick to talk about how they’ve had to counter the shiny suited, quick talking image of the recruitment consultant over the seven years that MCS has been in business.

“We’re only too aware that it’s the ethics, the professionalism and the customer service that have been missing in this industry, or parts of it at least, over the years,” says Barry Smyth. “They’re all elements that we set out right from the start to concentrate on.”

Barry Smyth set up the business in the summer of 2008, just as credit crunch turned into recession and a couple of months before Lehman Brothers collapsed and the financial crisis exploded.

“You could almost hear the noise of doors being slammed shut as companies shut themselves in their bunkers,” he smiles. He’d been in the business for 16 years, starting in specialist recruitment before working his way through to senior management roles and prior to starting MCS had a spell with executive specialists Clarendon.

“Executive recruitment, truth be told, wasn’t for me and I wanted to get back to specialist recruitment so I took the plunge. Looking back, it wasn’t the best piece of timing.....but it’s worked out well, so far?”

He has a point. From early days as a niche IT recruitment firm in small Belfast offices, MCS has grown to cover IT, Accountancy & Banking as well as Technical & Engineering recruitment from impressive city centre offices in Linenhall Street and with a team that has grown from two to 20 over the seven-year interim period.

“Through my experience I had often found that

20

three key elements were missing too regularly in this business,” he says. “They were ethics, quality and delivery....and so we took it as our mission to embrace all three of them.”

What does he mean by ethics? “In the early part of the 2000’s, there was an explosion in recruitment. Everyone was busy, everyone needed people, turnover was rapid and, as a result, the recruitment industry took its eye off the ball when it came to standards. The core skills of the strong, professional recruiter were lost to a degree.

“So when we all went into recession, too many found out that they didn’t have the skills and the focus to cope with customers who wanted and needed something completely different.

“I tried to take the methodologies that I’d learnt at the executive end of recruitment and apply them to the wider specialist recruitment markets....methodologies specifically around quality, service and delivery.”

As the recession years drew to a close, IT was the first sector to bounce back.....good news for Barry Smyth and his team at MCS, a team which had continues to grow despite the economic conditions.

His wife Louise eventually made the move over to MCS in 2014. At that stage she’d already spent 20 years in the industry, initially as a Banking and Finance specialist before progressing to be part of the senior management team at Grafton Recruitment, with an all island remit.

As well as supporting the Financial Services Sector across NI and ROI on a daily basis, Louise spent a lot of time training new consultants in the finer skills of recruitment.

“Barry had been trying to persuade me to leave Grafton and join him for quite a while before he eventually got his way.....,” Louise smiles.

She talks about the prevalence of temp specialists in the wider recruitment industry as well as the drift towards RPO....recruitment process outsourcing.

Eye on Cover Story

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Eye on Cover Story

But MCS, she says, prefers to concentrate on a clearly defined role as a specialist recruitment firm, concentrating on the business sectors that it knows and understands.

“Understanding is crucial,” she says. “It’s a message that I emphasise all the time with our people here at MCS. They have to work hard to understand our customers, their businesses and what those businesses need from their recruitment partner rather than trying to apply universal/ general job role evaluation criteria, or just evaluating what’s easy to evaluate.

“Once they are able to do that, recruitment consultancy is a great career. But you have to have that level of understanding to be able to do it well. It’s that kind of knowledge amongst our people that sets MCS apart as a business.”

But there are other key differentiating factors. Barry Smyth tells the story of a potential US-based inward investor talking to him and pointing out that he needed long-term hires and not just short-term personnel solutions.

“He was surprised when I was able to give him statistics on how many of our candidates turned out to be

22

long-term hires for our customers.”

He’s convinced that the market is as good now as it has been for a while. “I think there are lots of opportunities out there right now.

Developments on the Greek debt crisis and the forthcoming UK vote on EU membership are the main items we are watching closely from a macro level, on the ground today we are seeing growth and development across all the sectors we work in, from aerospace to IT, agri-food to manufacturing, business services to professional services, things seem to be on the up and long may it continue.”

MCS, clearly, is a business that is all about people.

“The delivery channels have changed over the years,” says Louise Smyth. “Gone are the days when Friday’s evening paper was the main marketplace for job vacancies. Nowadays, we have so many delivery channels to the point that you can be drowning in data, it can be hard to make sense of if you don’t live and breathe it every day like we do. From online recruitment sites, to LinkedIn and the increasing use of a vast number of social channels bring all sorts of challenges and sometimes hiring organisations can get their

recruitment strategy all wrong.

“We’ve even heard of candidates being chosen on the basis of online CV selection tools, which ‘funnel’ CV’s with the right buzzwords into one box....and rejects others automatically. Does that make any sense? And does it identify potential high achievers for an organisation?

“At the end of the day and it might be an age old saying, but people really do like to deal with people, and that’s particularly true here in Northern Ireland, so our services are more in demand than ever, despite those who have predicted the demise of the recruitment industry.

Yes things have changed and will continue to change, so from our perspective it’s all about being agile, staying relevant and ultimately providing value by being able to deliver great hires. Companies can take a do it yourself approach.

Of course they can. But those that are winning are those with a flexible, blended approach who are able to choose the right partners to make their strategy happen.

“For us, it all comes down to the service we offer. As recruitment professionals we also employ a touch of psychology and a dash of networking. Not to mention a bit of technical know-how as well.”

And both Barry & Louise Smyth warn that employers out there need to be aware – if they’re not already – that it’s a candidate-driven marketplace at the moment.

“Every day we talk to companies about their employer brand and how to understand and communicate their value proposition to the market.....essentially why employees should come and work for those companies,” says Barry. “And a few people still raise their eyebrows.

“There are still companies out there who don’t appreciate exactly how much choice candidates today have when deciding where they want to go to work and how important it is to get your proposition right.”

It seems that recruitment these days is as much a marketing job as it is HR. And as we’re just getting used to Generation Y and how to attract and keep them, next up is the Millennials – and don’t even ask about Generation Z . Interesting times ahead…

Eye on Retail

KEEPING IT FRESH...

HENDERSON GROUP’S JANE PYPER Jane Pyper plays a leading role in Henderson Group’s increased concentration on fresh products in its retail outlets. She talks to Business Eye about the importance of fresh products, how new products are identified and the launch of the SPAR enjoy local range...

Outline of CV/career history?

I spent over 13 years with ‘the streat’ a café chain which was first established in 1999 by husband and wife team Michael & Nikki McQuillan. This role initially served the company owned cafes before branching out to franchising the brand.

During this time our team opened over 40 cafes across NI, ROI and Scotland allowing me to develop from what was my original position of Hospitality Management Placement Student to managing the Franchisee Support Function. In my last three years with ‘the streat’ brand the company was acquired

by Henderson Foodservice, a company based in Mallusk and part of the familyowned business, Henderson Group.

Role & responsibilities?

In January 2014 I moved across the Group and joined the Fresh Department which is led by Director Neal Kelly. For several years the Henderson Group has been working towards new fresh participation targets with the aim of increasing the quality and product range of fresh groceries in SPAR, EUROSPAR, VIVO, VIVOXTRA and VIVO Essentials stores throughout Northern Ireland. My role within this hard working team is New Product Project Manager.

For the last 18 months, I have been developing our relationships with local farmers and producers carefully crafting a complete rebrand and product launch of SPAR fresh own brand products along with ensuring all suppliers products were legally compliant with the new nutrition label format. This label combines red, amber and green colour-coding, nutritional information and percentage reference intakes to display the amount of energy, fat, saturates, sugars and salt in food and drink products.

The ultimate challenge has been the launch of ‘enjoy local’, our new SPAR own brand range. This range, which launched in March 2015, consists of 126 lines all produced from suppliers throughout Northern Ireland. Over one

third of this range were completely new products so it was an enormous task to develop ensuring we kept not only quality but value in mind too.

The Fresh Department’s Trading Managers are now focusing on various projects which could ultimately be big game changers for our Fresh Foods Department and the brands which we supply to. My role will be to support the team through these and provide guidance as to the best possible solutions across the various fresh categories such as bread, meat, vegetables and food to go which continues to be an increasing area of our business.

Why the move towards more fresh food offerings in stores?

It’s simple, shoppers’ behaviours have changed and continue to do so. With more households having fewer people and the need to prepare fresh ‘healthier’ food, the ‘big weekly shop’ just is not happening anymore. People have chosen to shop little and often. Our larger format stores, such as EUROSPAR and VIVOXTRA price match against the multiples and it’s clear from our increase in sales that message is certainly getting through to shoppers. It’s simply more convenient and cost effect to shop closed to home more often.

Have consumer tastes/ preferences changed?

Yes, our consumers are holidaying further afield, becoming more adventurous and developing their taste buds. The modern consumer expects to see innovation and new ingredients being used especially in convenience shopping.

As a result we have developed our product ranges to include products such as Italian, Indian and Oriental.

What were the key elements in developing the enjoy local range?

The Henderson Group has firmly established itself in Northern Ireland as a retailer and wholesaler that

L-R Jane Pyper, New Product Manager, worked closely with Bronagh Henderson, Marketing Manager, to bring the ‘enjoy local’ range to market.

supports local. The Group has been distributing local food and groceryrelated products to the convenience retail sector for almost 120 years and that simply isn’t going to change.

With over 75% of fresh product sourced from the Island of Ireland, we felt it vital to relook at our SPAR own brand range to ensure we were getting this local message across.

Extensive consumer research was conducted to find out exactly what our shoppers wanted and the results showed that provenance and value were of high importance. So the task became to develop a completely local SPAR fresh own brand range that provided both quality in taste, look and cost but also communicating product origin within Northern Ireland.

What do you look for in a good new, innovative product?

Flavour, convenience, good value for money. We prefer to develop products that have a local story to tell. Each ‘enjoy local’ product has a stamp of origin to tell the shopper that it was baked, grown, sourced, hand crafted or produced in one of our six counties.

Has the new range been successful?

Sometimes by having individual products within a fresh category on shelf, the local story is lost but with

an umbrella brand like SPAR ‘enjoy local’ shoppers can appreciate the range across all the categories – meat, bread, cheese, eggs, traybakes etc.

Between April and June the ‘enjoy local’ range sales have exceeded our expectations and some products used in the campaign, which were rebranded, have experienced significant year on year own-brand sales growth.

Highlights include our premium sausages at +126%, the deli salad range at +95% and local eggs +40%.

Do suppliers understand the needs of retailers & the market?

Yes. We have a very strong relationship with suppliers some of which have been trading with us for over 50 years, others are newly on the books and joined us early this year to complement the new range. We communicate daily and discuss market changes, service and quality expectations and future aspirations.

Is the NI agri-food sector stepping up to the mark?

A challenge for the NI agri-food sector is getting the balance between being export focused and being focused on the domestic market where there are still ample opportunities to grow.

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Eye on Pensions

Advertising feature

Planning your financial future According to Chancellor George Osborne, new pension freedoms represent “the most radical change to how people can access their pension in almost a century”.

With many individuals and business owners across Northern Ireland approaching retirement age, Keith Willett, Head of Business, St. James’s Place Wealth Management takes a closer look at how we can maximise our wealth and better plan for the future.

“A

cross Northern Ireland, individuals and businesses are adapting to the new realities of a radically different financial playing field. While the green shoots of recovery seem to be taking root in the economy, and markets continue to recover from the biggest financial crisis in living memory, there is still much to be done.

“We not only need to ensure that the recovery takes hold, but that we as individuals are fully equipped and in control of our financial wellbeing.

“One of the most significant announcements Chancellor George Osborne made in the recent Summer Budget was to open a public consultation on the future of the entire pension tax system.

In a bid to see more people saving, Osborne is looking for radical change that will, he and we hope, be simple and transparent.”

Pensions From April 2015, the rules on how investors can take money from their pension arrangements changed. From age 55 there is more flexibility than ever before on accessing their pension benefits.

“The recent pension reforms brought in by the Chancellor have resulted in an upsurge in activity for our practice network. The changes are pretty radical and it is essential that everyone takes appropriate advice to ensure they opt for the right solution for their future financial needs. But Osborne’s Budgets have wider implications for your personal wealth than just your pension pot.”

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In addition, from 2016, those with income including the value of any pension contributions over £150,000 and who have an income excluding any pension contributions in excess of £110,000 will find their annual taxfree allowance tapers away - from £40,000 currently, to £10,000.

“While widely expected, the reduction in the annual allowance will not be implemented until 6 April 2016, which means there is a significant opportunity for those affected who wish to maximise their pension contributions to do so in the current tax year.”

Inheritance Tax “There are new rules that will come into effect enabling family members in certain circumstances to inherit as much as £1million from 2020 without paying 40 per cent Inheritance Tax. The changes are complex and are being phased in over the next five years, but will eventually boost an individual’s tax-free allowance with an additional main residence allowance of £175,000 where applicable.”

Taxation of Dividends “The Chancellor also announced reforms to the Taxation of Dividends which could mean those who receive significant dividend income will pay more tax under the new rules.

Sound advice “For St. James’s Place as an organisation, it is all about our clients and how we can offer the right advice and help them to grow their wealth.”

Keith Willett, Head of Business, St. James’s Place Wealth Management

As a FTSE 100 company, St. James’s Place is one of the most respected names in personal financial services, with some £55.5 billion worth of funds under management.

“As well as addressing relatively simple and straightforward issues such as mortgages and protection, we can help to resolve more complex issues for clients, whether that be investment for growth, Inheritance Tax or retirement planning.”

For further information on St. James’s Place Wealth Management, their products and Partner Practices in Northern Ireland please visit www.sjp.co.uk. You can also contact Keith Willett at St. James’s Place Belfast office on 028 9072 6500.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than

you invested. The levels and bases of taxation and reliefs from taxation can change at any time.

The value of any tax relief depend on individual circumstances.

Your home or other property may be repossessed if you do not keep up repayments on your mortgage.

The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives. Members of the St. James’s Place Partnership in the UK represent St. James’s Place Wealth Management plc, which is are authorised and regulated by the Financial Conduct Authority.

St. James’s Place Wealth Management plc Registered Office: St. James’s Place House, 1 Tetbury Road, Cirencester, Gloucestershire, GL7 1FP. Registered in England Number 4113955.

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Smarter Living

Eye on Law

CHRIS ROSS...

Growth Agenda For John McKee

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Eye on Law Chris Ross isn’t the first lawyer to have to face up to the challenge of balancing his own litigation work with the demands of managing a busy practice.

“I

t definitely is an exciting challenge. Instinct tells you that the legal work has to come first, but it’s vital that I take time to understand what’s going on throughout the firm,” says the man who was appointed this summer as the new Managing Partner at Belfast law firm John McKee. “Fortunately, I’ve got a very good senior team around me here, and we’ve got the right systems in place to ensure everything runs smoothly.”

At the same time as Chris Ross took on the Managing Partner’s mantle, his predecessor Angus Creed, changed role to become Chairman at the firm.

“All of this is about driving the development and strategic direction of the firm which has grown steadily over the last 10 years and now employs 60-great people.”

“We are working hard to develop our presence in areas which are key priorities for us, areas of the business which we have strong credentials in and are already doing a lot of work in, for example, commercial property, renewable energy, agri food and financial services regulatory work among them.”

But Northern Ireland isn’t the only focus. John McKee has set its sights on building a presence across the Irish Sea, having set up an office in London last year, making full use of the fact that its team includes a number of lawyers qualified to practice in both the Republic of Ireland and Great Britain.

“We’ve a lot that we can offer to clients in the Republic of Ireland as well as in England, Scotland & Wales,” says Chris. “This is a crosschannel legal services marketplace that is growing all the time. The clients aren’t interested in where you are based. They’re interested in your legal expertise and the level of client service you can provide. We pride ourselves on the level of service we offer our clients and that has been a strong facet of our growth in these markets.”

The Belfast firm has engaged the services of a dedicated business development consultant to help the team target and develop new opportunities and markets.

“We are taking a focused and structured approach to marketing and business development which means that we can totally focus on our legal work and managing the day to day business of the practice while knowing that the business development and marketing side of the business is being proactively managed.”

“This dedicated resource brings a strategic approach to what we’re doing. While we’re out in court or meeting with clients, we know there is a total concentration on

exploring opportunities to drive the business forward.”

Chris Ross emphasises that John McKee is a dynamic team with youth on its side, with a high proportion of the senior team home grown within the firm.

“We’ve built a good structure here and staff can see a clear pathway for career progression. That’s important for lawyers starting their professional career.

We believe in investing in people, not only by working to secure our Investors In People accreditation, but also in a number of other ways. Our culture is people focused, on the client side and internally. The people are the difference in providing the client service and knowledge they are looking for and deserve.”

“It’s a really busy time for us as a firm, but there is a good buzz at our partners’ meetings and around the office.

“Our commercial property business is growing as that market continues to recover, and a core strength of our business, which is banking has also seen growth, with most of the banks out there actively offering secured lending once again.”

The Belfast-based firm is targeting new business from the public sector here, as well as continuing to service the needs of local SMEs and family businesses.

“And our business clients, are in the market aggressively looking for new opportunities and new markets.

There is a positivity around that wasn’t there a year or two ago.”

John McKee Solicitors has grown considerably in so many areas.

“We are really enjoying the various challenges the market presents and have big ambitions going forward,” he smiles. “Of course, we keep an eye on what our competitors are doing, where they’re doing it and how they’re doing it. We’d be foolish not to....but ultimately you focus on what you are doing and ensure you are doing it to the very best of your ability. That is what grows a business.”

“At the end of the day, it all comes down to people and to the level of client service that they can provide on a daily basis. We have to do the work well....and exceed the client’s expectations at the same time.”

And what are the key objectives for the coming year to two years?

“We want to cement relationships with our existing and established clients. We want to build new ones. We want to concentrate on growth in key practice areas like property and banking, and we want to focus on the opportunities that exist outside of Northern Ireland.

“When we achieve our growth targets and service all the growth as I know we can .....I’ll be happy. And more importantly to me, everyone in the firm will be also.”

“ At the end of the day, it all comes down to people and to the level of client service that they can provide on a daily basis. We have to do the work well... and exceed the client’s expectations at the same time.”

For more information please contact Chris at cross@jmckee.co.uk or call 028 9023 2303

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ON-SITE SHREDDING IS FOR YOUR EYES ONLY.

OUT-OF-SITE SHREDDING IS FOR THEIR EYES TOO!

Eye on Technology

A MATERIAL QUESTION...

MATRIX TAKES UP THE CHALLENGE

30

Eye on Technology It’s been quite a while since Matrix,the Northern Ireland Science Industry Panel, stepped up to the mark with a report on what is a key sector of the local economy.

B

ack in 2008, it took a closer look at advanced engineering and advanced materials in separate reports. One member of the panel back then was Dr. Rob Hardeman, Technologist at Seagate’s manufacturing facility in Derry.

Fast forward to 2015 and Rob Hardeman is an enthusiastic Chairman of the panel which is driving forward what is shaping up to be a comprehensive report on Northern Ireland’s AMME sector... with AMME being an acronym for Advanced Manufacturing, Materials & Engineering.

“It was important that we widened our scope and the AMME tag means that we can bring a lot of local businesses into the sector covered by our report,” says Dr. Hardeman. He’s a long-term supporter of the work of Matrix, the science industry group chaired by Dr. Bryan Keating.

Rob is expecting to have a draft report for consultation by the end of the calendar year, and the full report published not too long after that.

Central to it will be the gathered views of a wide range of local companies who might not always be given to completing run of the mill surveys... but who are keen to talk in detail to fellow technologists and scientists about the challenges facing them in day to day industry.

“With the benefit of hindsight, the reports we produced seven or eight years ago lacked a bit of depth. That certainly can’t be said this time around.”

The Matrix report will take statistics from the NI Statistics & Research Agency as well as other key sources as its starting point, and is starting to engage with the private sector here across a range of key areas, from current industry trends through to specific skills and training issues.

“In a nutshell, we want to know what concerns these companies have and what challenges they face, but we also want to come up with ideas around how we can help them, and how the public sector can help them going forward. We’d like to see actions developing from this report.”

Manufacturing, says Dr. Hardeman, still lies at the heart of business and

industry here in Northern Ireland.

“We’ve been manufacturing here for many years. We’ve got a strong manufacturing heritage, and that’s something that we have to keep in mind.

“In fact, there is still a higher percentage concentration of manufacturing businesses here than there is in the UK as a whole. During the downturn, manufacturing industry here kept on track better than other UK regions.

R&D didn’t fall away and exports, largely speaking, remained strong.

“So we have a big and vibrant sector and the signs are good.”

The Matrix study covers most areas of manufacturing, but leaves out agri-food (widely considered to be a sector in its own right) and, for similar reasons, life and health sciences.

But that leaves a total of 3,130 organisations of varying size and scale.

“That’s one of the fascinating aspects,” says Dr. Hardeman. “We have been engaging with companies of the scale of Wrightbus, Caterpillar and Bombardier, but also with much smaller manufacturers in every corner of Northern Ireland. And, across more than 3,000 organisations, we’re talking about a lot of jobs.”

He’s also talking about a lot of different products, some of them very specialised indeed.

“Oh yes, a lot of the products coming out of Northern Ireland companies aren’t very visible to the man in the street, as it were. A good example is the cluster of companies around County Tyrone producing quarrying machinery for international markets..... the sons and daughters of Powerscreen, as they have been called...

“More visible are the companies here producing for the international aerospace industry. Bombardier is

right at the forefront of that sector, but step onto an aircraft these days and there’s every chance that the aircraft seats, the safety equipment and the steps you use to get on board are made here in Northern Ireland.

“And most if not all of these companies are using advanced materials,” he says, moving on to his specialist subject. “We’ve a growing number of companies, for instance, who are operating right at the cutting edge of composite technology.

“Advanced materials play a part in almost everything we rely upon these days,” he says, picking up a mobile phone to illustrate the point he’s making.

Although he’s not being interviewed about his own company, there’s little doubt that Seagate’s Springtown plant is a ready-made example of how leading edge technology is researched and developed right here in Northern Ireland.

Dr. Hardeman quotes the pioneering scientific development carried out by Andor at its Belfast plant, and in the area of composites, by Bombardier’s Northern Ireland manufacturing operation.

“And, in areas like polymers, we’re producing everything from hair brushes to recycling bin components.

“There are even direct links back to the Northern Ireland manufacturing heritage. Think of composite materials that include fibres, and you have a link back to textiles....a real area of expertise here for many years.

“We also want to look, in the work that we’re doing, at how different manufacturing industries can work more effectively together, at collaborative research....even collaborative ventures.

“I’d be fairly confident that one conclusion will be that we need to work harder on the development of skills, from school leavers to PhDqualified engineers. Skills are going

to be vital to the continued growth of manufacturing here....and it will be right up there on our agenda.

“Thinking outside the box, there are also questions around how big data and data analytics can be put to best use in the manufacturing context.

And then there are the benefits of the circular economy in which we work to recover and regenerate products and materials at the end of each service life.

“With the wider economy on the up, there’s every chance that we could be publishing our report and our findings at just about the right time.

“But it’s important to us that it doesn’t end up as another book up on the shelf. We want to have key messages and stories as well as stats, we want to be current and we want it to lead to improvements and actions.

“Innovation, after all, is the source of good, long-term business. And our role is to support a thriving business community here.”

Dr. Rob Hardeman gained MA and PhD degrees in Metallurgy & Materials Science from Cambridge University and he is a Visiting Professor at the University of Ulster (NIBEC). His career includes periods in industry with British Steel and start-up disk manufacturer Eurodisk as well as spells with the Government Research Laboratory in Malvern and as a Senior Research Fellow at the University of Keele.

You can find out more about the current Advanced Manufacturing, Materials & Engineering Study on the Matrix website – www.matrixni.org You can contact them at info@ matrixni.org or call 028 9052 9628.

31

Eye on Mutuals

Progressive Building Society The Mutual Model At a time when so many have lost their faith in banks, customers are favouring building societies that are owned by and run for the benefit of their members. This month Michael Boyd from Progressive Building Society gives an overview of the mutual model and how it has withstood the test of time.

T

he main thing that sets Progressive and other building societies apart from banks is our mutual ownership model. Unlike banks we are not geared towards or driven by external shareholders – who may not be customers of the institution and may not have its long-term interests at heart. Building societies are run in the interest of their members. Anyone who has a mortgage loan or savings account is a member, giving them certain rights to vote and receive information, as well as to attend and speak at Annual General Meetings. Each member has one vote, regardless of how much money they have invested or borrowed or how many accounts they may have.

We can take into account much longer term issues when determining corporate strategy than institutions constantly under pressure to deliver rising dividends and a rising share price. This means building societies are solely focussed on delivering the best services and products to their members.

This is the time for mutuals, as consumers in Northern Ireland demand greater transparency and seek out socially responsible and financially viable organisations, the mutual core values of trust, mutual benefit and ownership ring true. In fact, mutuals present a refreshing alternative to business strategies that are being driven by shareholder demand - the prudent mutual

32

approach to lending has served its customers well, and the sector is continuing to grow.

It is unsurprising that when Move Your Money conducted a national survey focused on ethical banking, 7 out of the top 10 institutions were building societies. The survey compared over 70 UK and global banking providers on five key categories – honesty, customer service, culture, supporting the economy and ethics, Progressive Building Society achieved a score of 98%, coming joint second. Building societies as a group scored better in almost every category than banks did as a whole, so, whether you’re interested in great customer service, honesty and transparency, good banking culture or ethics, building societies offer you an alternative with real benefits for your savings and mortgage borrowings.

As Northern Ireland’s largest locally-owned financial institution, with almost 100,000 members, Progressive is fundamentally linked to the financial well-being of the people of Northern Ireland and the maintenance of the mutual model is a fundamental objective of the Society. The principal purpose of Progressive Building Society remains that of making loans to members who are based in Northern Ireland, secured on residential property which is funded substantially by its savings members. This is best achieved by providing a range of mortgage and savings

Michael Boyd, Progressive Building Society

products tailored to the needs of both new and existing members, by maintaining a strong capital base and by continuing the Society’s commitment to improve quality of service and value to its members. Our Directors and staff believe that an independent, locallyowned building society provides the right environment for the achievement of this objective. As a result of the outstanding commitment of our members and the dedication and excellence of our staff it is pleasing that the Society continues to perform well, maintaining a strong, well-structured balance sheet and achieving another profitable year.

Having recently celebrated our centenary, Progressive will continue to remain relevant in the years to come by keeping our Members at the heart of

our decision making. This is something that all our staff hold true. This is a people business – we know how people’s lives change, the opportunities as well as the challenges. As an organisation we also know how important it is to be flexible for those needs. For example our savings products provide a safe home for people to save for the future, be that small amounts of money when people can afford it, to savings for the bigger events in their lives such as a wedding, the birth of a child, university fees, retirement etc.

The lending side of the business is about matching people’s dreams of home ownership and turning it into a reality, a reality that is affordable.

Eye

onprofit 200

200 Sponsored by

Information supplied by the Business Information Division

Company Shop 33

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CONFIDENCE IS THE KEY TO FUTURE PROFITABILITY

By Kevin Kingston, Deputy CEO & MD - Business Banking, Danske Bank.

T

his year’s Business Eye Profit 200 features many familiar names in its upper echelons, as well as some rising stars who are new entrants to the list.

They are diverse businesses from a variety of sectors which have contrasting operating models, but what they have in common is that all are generating substantial turnover and making profits.

Given the global economy we have been operating in for the past seven years, all the companies featured deserve to be congratulated for their success.

Running a profitable business in what remains a very challenging and competitive business environment is no mean feat.

That said, it is Danske Bank’s view that the economy is really starting to take a turn for the better, with more consistent, albeit modest growth, local unemployment still falling and many of the other key indicators signalling renewed consumer confidence and business strength.

This brighter outlook is perhaps reflected in some of the strong performances registered by many

34

of the organisations included in the Profit 200 this year – although it is no surprise to see some of our market leading businesses on the list. Danske Bank customers such as Randox Laboratories, Almac Group, Norbrook Laboratories, Lissan Coal, Henderson Group, SHS Group and Montupet all have established pedigree.

Danske Bank too has benefited from the economy turning a corner. The bank finds itself topping this year’s Profit 200 list, primarily because this uptick in the economy has boosted the confidence of our customers.

Only last month in our own half-year results, Danske Bank posted pre-tax profit of £65m for the first six months of the year.

While part of this was the result of a write-back on provisions made for impaired property loans, most importantly, business lending was up strongly on last year.

In fact, Danske has lent twice as much to businesses in the first half of 2015 as we did in the whole of 2014, which in itself was considered a good year for business lending.

This has been achieved through a mix of lending to new-to-bank customers and existing customers who have needed additional facilities to advance growth plans.

One of the highest profile deals announced so far this year was Randox’s acquisition of the former Massereene Army Barracks site, which will be transformed into the Randox Science Park as part of a £161m investment that is being backed by Danske Bank.

We’ve continued to see business customers of all sizes switching to Danske, both through our regional Finance Centres and through our Corporate department, attracted by our approach to

supporting businesses.

The increase has also been partly driven by a recovery in the commercial property market, where I’m glad to say we have been able to support existing and new customers to progress investments in office and retail developments. In 2014, property deals worth around £500m were signed in Northern Ireland, but these deals mostly involved institutional investors.

We are expecting another good year in 2015 but the difference is that there is now also a lot of local interest, which is encouraging.

What is most encouraging in the rise in business lending is how much of the total is attributable to existing customers from trading businesses that require the facilities for new investments such as the purchase of new equipment, new premises or expansion into new markets. That they are prepared to make these decisions now shows confidence in the local and global economies.

We’ve seen a number of clients making acquisitions in the past year, most recently Westland Horticulture’s acquisition of the assets of English company William Sinclair in a multi-million pound deal backed by Danske.

We would expect an increase in corporate activity in the second half of this year as confidence feeds through to boardrooms around Northern Ireland.

While the business environment is undoubtedly improving it would be remiss of me not to note the significant risks and challenges that still exist – the greatest among them from an economic standpoint is the ongoing uncertainty around Greece and the impact that situation is having on the whole of the Eurozone.

Notwithstanding the overall

impact on the global economy, it is a situation that is of huge significance to the local business community. Around half of Northern Ireland’s manufacturing exports go into the Eurozone, so uncertainty there has huge potential to affect orders and knock confidence back very quickly.

Uncertainty in the Eurozone has also created an exchange rate disadvantage for the manufacturers here who sell in sterling but are paid in euros.

As recently as March 2014 the euro was worth 84p. As I write this it is now back to nearer 70p, an almost 20 per cent reduction in value which means Northern Ireland companies are taking a big hit on sales.

Thankfully, we are seeing an increasing number of Northern Ireland businesses looking further afield for customers in new exciting markets that offer huge potential. This focus on truly global markets is something that plays to Danske Bank’s strengths as a bank that is perfectly positioned to advise our customers on the complex international markets.

I believe Northern Ireland’s leading companies have learned from adversity to emerge fitter and leaner than they have ever been before. It is now incumbent on businesses to maintain those disciplines and to be role models, showing the way for the next generation of potentially world beating companies on the cusp of matching their achievements.

We at Danske Bank are confident you will continue to drive the recovery and growth of the Northern Ireland economy, bringing long term prosperity to this region and the people who live in it.

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Growing The NI Economy...

AN INVEST NI PERSPECTIVE export growth, and supporting small and medium enterprises to grow to scale are two ways to help rebalance our economy.

Alastair Hamilton, Chief Executive of Invest Northern Ireland

Alastair Hamilton, Chief Executive of Invest Northern Ireland, says that the private sector plays a key role in economic growth, generating wealth, improving incomes and creating employment.

H

istorically, the biggest challenge facing the Northern Ireland economy has been the ratio between public and private sector, and this remains the case today. In Northern Ireland, over a quarter (28 per centi) of the workforce is employed in the public sector, compared to 18 per centii in the UK as a whole. This, combined with the predominance of small, private sector, businesses means that our productivity and broader economic growth is slower than other parts of the UK. That said, over the last four years we have seen the level of investment by companies we are working with increase by 221 per cent, with 2014/15 the highest since Invest NI was formed in 2002.

Helping entrepreneurs to create new businesses with high growth potential that can achieve

Helping create new businesses Following Local Government Reform, the 11 councils now have enhanced responsibility for local economic development with some of the initiatives historically delivered by Invest NI now transferred to councils. The councils now have responsibility for encouraging social entrepreneurship, entrepreneurship in under-represented groups (such as women and young people) and locally focussed business start-ups.

Our regional office network, continues to identify and support export focussed business start-ups.

Growing to scale Companies with less than 50 employees account for 99 per cent of VAT/PAYE businesses in Northern Ireland iii. In fact, there are just 140 large (employing more than 250 people) businesses in the Northern Ireland private sector iv.

Helping companies grow to scale means they can deliver higher growth and economic input. One such company is Cookstown based TES NI. The company has achieved turnover growth of 83 per cent over the past three years, focusing on export sales and building a global presence. It has won numerous awards and accolades including being named as one of the UK’s fastest-growing private companies in the inaugural Investec Mid-Market 100 list.

It is also recognised that investment in innovation and skills are key to sustainable growth.

Companies, sectors, and economies with higher levels of innovation, are more competitive, grow faster,

Damian McAuley, Invest NI with Jacqui Walsh and Dr Brian O’Kane, Kitchenmaster.

have a higher propensity to export and create higher value jobs.

Whilst R&D is a crucial and central element of innovation, it equates to just 18 per cent of total investments in innovation. Stimulating business growth through true innovation embraces a much wider range of activities including, product and process development, marketing, exploitation of e-commerce, design, skills and leadership.

Companies which invest in skills are more able to fully realise the benefits resulting from innovation and R&D, support export success and increase profitability. A skilled workforce is therefore an essential component to every business’s growth strategy.

Selling outside of Northern Ireland Locally focussed growth in itself is not enough. It is well known that the Northern Ireland market is too small to support economic growth.

This is why it is essential that we help more companies look to markets outside of Northern Ireland, thus growing their business and delivering greater economic benefit.

Take Carryduff based Kitchenmaster as an example. The

company has been manufacturing high quality cleaning and hygiene products for over 30 years. It has invested significant time and effort over recent years to grow its market presence outside of Northern Ireland.

The company identified the United Arab Emirates as a potential new market, recognising that the rapid growth of its luxury hotels, eating establishments and thriving tourism industry offered valuable business opportunities. Kitchenmaster now employs five staff in Dubai and recently surpassed a notable milestone: achieving £1million worth of sales to the UAE. Future Focus The current and future public spending restraint and rationalisation of public sector employment only reinforces the importance of building a bigger and more competitive private sector In this macro-economic environment, where there will be increasing competition for funding, talent and contracts, the private sector will have to come forward and work in a much more strategic and collaborative style to deliver real sustainable change.

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PROFIT 200...

AN ECONOMIST’S PERSPECTIVE

By Angela McGowan, Chief Economist at Danske Bank

Angela McGowan, Chief Economist at Danske Bank, paints the economic picture that lies behind the 2015 Profit 200 figures... from Greece to commodity prices, and from inflation to interest rates.

I

nvestors are well aware that economic conditions are very rarely perfect and indeed most investments contain a certain degree of risk. So far this year the Greek crisis, the slump in world commodity prices and rumblings in emerging markets have all cast a bit of a shadow over global economic conditions;

36

yet many local companies have continued to invest and grow regardless. This is because firms do not need to know that the prevailing economic environment is absolutely perfect; rather they just need information on where things currently stand so that better decisions, forecasts and risk calculations can be made.

The Global Picture The US: The US economy grew by 2.3 per cent (annualised) during Q2 2015.

The Federal Reserve describes the economy as “expanding moderately” and has this summer upgraded its view of the labour market.

Policy makers in the US are also reasonably confident that inflation will move back to its 2 per cent objective over the medium term, so therefore an autumn interest rate hike looks extremely possible.

For companies and investors this signals the continuation of a strong dollar in the medium term.

Europe: Despite the headlines being very much focused on the Greek crisis earlier this year, it is important to note that the eurozone economy is actually growing and gaining strength. The latest quarter on quarter GDP figures show the eurozone growing at 0.4 per cent, although for countries like Ireland and Spain growth is accelerating at a much faster pace.

Importantly, bank lending and money supply have continued to improve as the European Central Bank’s (ECB) monetary policy easing has resulted in cheaper and more accessible bank lending.

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The ECB is aware that unemployment is still relatively high and the weak euro combined with the current QE programme are fueling this recovery. Thus policy makers will not be thinking about adjusting interest rates in Europe until mid-2017 at the earliest.

Markets have loose monetary policy in Europe built into their foreign exchange positions and unless some new catalyst emerges to move the euro from its current position against the dollar or the pound, it is unlikely that the euro will move from its current range in the short to medium term.

Growth in M3 money supply was at 5.0 per cent year on year in June and growth in M1 money supply continued to rise to 11.8 per cent (up from 11.2 per cent in May). Real M1 growth is a good leading indicator for GDP growth in the euro area (See diagram below) and it indicates that activity will strengthen and increase towards 0.8 per cent quarter on quarter growth towards the end of this year. Inflation remains low in Europe (at 0.2 per cent in June) which supports economic activity but it is expected to pick up later this year and indeed core inflation is now at 0.9 per cent, the highest level since April 2014.

Emerging Markets: Many local firms have been looking at emerging markets in recent years with a view to expanding foreign sales. However volatility in many emerging markets (EMs) has been a big theme in 2015. EM currencies have this summer fallen to the lowest level against the US Dollar since the Asian financial crisis in 1997/98. The commodity collapse has driven the foreign exchange fall and the next driver is likely to be higher US rates. Over the coming three months, US interest rate expectations and the oil collapse should weigh on many currencies in emerging markets. Hedging foreign risk will be fundamental to success in these markets in the short to medium term.

United Kingdom UK Growth: The Office of National Statistics has just released the first estimate of UK Q2 GDP growth (based on less than 50 per cent of the total information required for the final estimate). The

figures show that growth rebounded in Q2 to 0.7 per cent from 0.4 per cent in Q1. This implies GDP in Q2 15 was 2.6 per cent higher than in Q2 14 and now 5.2 per cent higher than the pre-crisis peak in Quarter 1 2008.

The service sector which accounts for 78.4 per cent of the UK’s GDP was still the main contributor to the good performance. Services increased by 0.7 per cent over the quarter and thus contributed 0.5 percentage points to the overall quarterly growth. Construction growth was flat. Total production increased by 1.0 per cent and thus contributed 0.1 percentage points to quarterly GDP growth. Total production increased mainly due to mining and quarrying (mostly oil production), which increased 7.8 per cent over the quarter - the largest since 1989. Manufacturing production on the other hand declined slightly by 0.3 per cent.

UK Interest Rates: During August we had our first taste of the so-called “Super Thursday” when the Bank of England (BoE) released its interest rate decision, the minutes of the Monetary Policy Committee (MPC) meeting and its inflation report. Normally we are drip fed this information over two weeks, however Mark Carney is revving things up a bit in the Bank of England – which is no bad thing.

It appears that in August the members of the Monetary Policy Committee (MPC) were divided on whether or not to raise interest rates immediately. The split vote was 8-1 as Ian McCafferty voted in favour of increasing the Bank Rate by 25bp. The MPC voted unanimously in favour of keeping

the stock of purchased assets unchanged at £375bn. Also the minutes were dovish. Greece was a material factor for the decision in July but was barely mentioned in the minutes from the August meeting. However, the minutes revealed that there are a ‘range of views among MPC members’ on important topics, likely reflecting that the data points in different directions.

The minutes revealed that ‘most members’ think the lower oil price and strong sterling imply that the increase in inflation will be ‘more gradual’ than previously anticipated. ‘Some members’ see ‘upside risks to the inflation forecasts’ as growth is solid, slack in the labour market is diminishing and pay growth has increased more than previously expected. If inflation surprises on the upside in the coming months more members could vote in favour of increasing the Bank Rate soon.

The projections for wage and GDP growth were revised upwards while the projection for the unemployment rate was more or less unchanged.

The projection for inflation was revised down in the short-term but inflation is still expected to reach 2 per cent in Q3 17.

To conclude, the MPC members are still not confident with respect to inflation. As illustrated in the table below, Danske Bank sees five pre-conditions for the BoE to increase interest rates. Hence, while unemployment is back to normal, wage growth is increasing and the growth outlook is solid, it still wants to see stabilising and higher Consumer Price Index (CPI) inflation before increasing rates.

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the Company Shop Business Information Division

Company Name Year End Pre-Tax Turnover

(£000) (£000)

38

Pre-Tax Profit previous year (£000)

Turnover No of previous year employees (£000)

1

Northern Bank Ltd (Danske)

31/12/2014

118,733

251,861

11,367

244,542

1,434

2

Glen Electric Ltd

31/03/2014

68,544

845,177

60,331

812,670

5,034

3

Northern Ireland Electricity Ltd

31/12/2014

61,500

243,800

70,000

258,000

547

4

Aes Kilroot Power Ltd

31/12/2013

59,555

187,568

39,968

160,695

117

5

Terex GB Ltd

31/12/2013

42,464

282,202

36,947

286,973

847

6

Moy Park Ltd

31/12/2013

33,780

1,201,148

24,410

1,089,570

8,449

7

Nicholls’(Fuel Oils) Ltd

31/05/2014

30,828

264,348

6,806

315,499

129

8

Caterpillar (NI) Ltd

31/12/2013

28,707

626,250

15,249

795,848

2,718

9

W.& R. Barnett, Ltd

31/07/2014

26,984

488,049

22,280

499,728

278

10 Eakin Healthcare Group Ltd

31/03/2014

25,570

60,388

26,682

56,216

202

11

Short Brothers Plc (Bombardier)

31/12/2014

23,587

657,262

17,958

585,432

5,014

12

Norbrook Holdings Ltd

01/08/2014

22,194

198,775

20,700

202,498

1,892

13

Schrader Electronics Ltd

31/12/2013

22,189

193,322

16,617

172,629

964

14

The Old Bushmills Distillery Co. Ltd

30/06/2014

22,052

69,050

20,128

59,582

103

15

Power NI Energy Ltd

31/03/2014

21,100

585,900

15,700

607,200

197

16

SHS Group Ltd

03/01/2014

19,415

393,273

18,364

391,229

688

17

Lissan Coal Co. Ltd

30/09/2014

19,330

528,203

14,048

576,646

156

18 John Henderson (Holdings) Ltd

31/12/2013

18,358

642,761

15,620

620,389

2,419

19 Hampden Group Ltd

01/03/2014

18,075

34,752

20,711

33,468

439

20 First Derivatives PLC

28/02/2015

17,476

83,216

7,947

69,902

999

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the Company Shop Business Information Division

Company Name Year End Pre-Tax Turnover

(£000) (£000)

21

UTV Media Plc

Pre-Tax Profit previous year (£000)

Turnover No of previous year employees (£000)

31/12/2014

17,245

116,043

16,951

107,222

994

22 Viridian Energy Supply Ltd

31/03/2014

15,972

242,120

11,129

186,442

110

23 Montupet (U.K.) Ltd

31/12/2014

15,520

88,114

14,180

93,924

582

24 Bank of Ireland (NI)

31/12/2014

14,000

-

-50,000

-

-

25 Dunnes Stores (Bangor) Ltd

01/02/2014

13,893

140,526

15,947

157,558

1,944

26 SSE Airtricity Energy Supply (NI) Ltd

31/12/2014

13,560

296,864

6,020

268,446

14

27 Randox Holdings Ltd

31/12/2014

12,743

92,017

12,923

90,929

989

28 Almac Group Ltd

30/09/2014

12,623

341,598

19,179

325,336

3,201

29 Progressive Building Society

31/12/2014

12,622

56,104

5,657

56,140

155

30 Howden UK Ltd

31/12/2013

12,535

93,315

10,825

69,194

299

31

N.I.I.B. Group Ltd

31/12/2014

12,064

43,400

8,346

38,658

86

32 Coolkeeragh ESB Ltd

31/12/2013

12,063

169,054

13,949

169,298

3

33 North West Bookmakers Ltd

31/12/2013

11,651

277,916

6,404

296,562

409

34 McAleer & Rushe Properties Ltd

30/09/2014

11,487

4,772

9,542

15,257

-

35 GE Grid Solutions (UK) Ltd

31/12/2013

11,380

42,964

5,616

43,693

147

36 Thompson Aero Seating Ltd

31/03/2015

10,643

51,868

6,112

26,935

119

37 Carnbane House Ltd

31/12/2013

10,578

37,289

4,035

38,374

105

38 Isaac Agnew (Holdings) Ltd

31/12/2013

10,504

1,402

24,966

1,278

29

39 F.P. McCann Ltd

31/01/2015

10,151

135,588

7,225

91,027

690

40 Bemis Healthcare Packaging Ltd

31/12/2013

9,707

41,418

4,395

39,377

262 39

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the Company Shop Business Information Division

Company Name Year End Pre-Tax Turnover

(£000) (£000)

40

Pre-Tax Profit previous year (£000)

Turnover No of previous year employees (£000)

41 Charles Hurst Ltd

31/12/2014

8,749

448,191

6,034

395,960

897

42 Cooneen By Design Ltd

29/11/2013

8,663

62,447

13,577

89,438

135

43 Kainos Software Ltd

31/03/2014

8,035

42,967

3,480

29,719

369

44 Premier Electrics Ltd

30/09/2014

7,829

44,983

1,952

21,442

41

45 Gardrum Holdings Ltd

31/12/2013

7,746

75,075

5,706

79,226

85

46 Galen Ltd

30/09/2014

7,097

55,391

5,707

47,861

24

47 Coca-Cola HBC Northern Ireland Ltd

31/12/2013

7,051

197,167

2,703

193,122

608

48 Elite Electronic Systems Ltd

31/12/2014

6,753

17,346

4,931

25,389

248

49 Fane Valley

30/09/2014

6,765

553,888

8,719

533,935

1,257

50 Westland Horticulture Ltd

29/12/2013

6,598

102,427

5,564

93,839

422

51

30/04/2014

6,583

25,299

3,522

23,020

104

52 Ulster Carpet Mills (Holdings) Ltd

31/03/2014

6,532

61,364

7,552

54,048

517

53 Andor Technology Ltd

30/09/2013

6,332

54,565

8,932

58,321

333

54 Retlan Manufacturing Ltd

31/03/2014

6,328

131,087

27,800

113,744

600

55 United Dairy Farmers

31/03/2014

6,112

442,155

4,609

418,424

884

56 Northstone (NI) Ltd

31/12/2013

6,093

239,445

7,960

298,755

992

57 Irish Salt Mining & Exploration Co. Ltd

30/11/2013

5,902

20,149

567

11,571

54

58 Regal Processors Ltd

31/12/2014

5,711

12,076

3,289

9,795

28

59 John Graham Holdings Ltd

31/03/2014

5,681

418,096

6,772

319,459

1,418

60 Whitemountain Quarries Ltd

31/12/2013

5,658

73,108

4,667

63,137

168

Kilwaughter Chemical Co. Ltd

7162 DB Business 210x20 Strip NN1.indd 4

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the Company Shop Business Information Division

Company Name Year End Pre-Tax Turnover

(£000) (£000)

Pre-Tax Profit previous year (£000)

Turnover No of previous year employees (£000)

61 Calor Gas Northern Ireland Ltd

31/12/2013

5,643

36,823

5,938

36,353

76

62 Tennent’s NI Ltd

28/02/2014

5,541

54,689

5,894

60,565

54

63 Liberty Information Technology Ltd

31/12/2013

5,387

30,231

7,215

29,274

326

64 Kingspan Environmental Ltd

31/12/2013

5,380

67,975

2,950

56,778

483

65 Delta Print And Packaging Ltd

30/06/2014

5,343

39,889

2,564

38,685

244

66 Golf Holdings Ltd

31/12/2013

5,307

-

241

-

50

67 BSG Civil Engineering Ltd

31/12/2013

5,010

28,618

6,222

31,668

44

68 Camlin Technologies Ltd

31/12/2013

4,992

16,268

-917

1,550

23

69 Lagan Construction Group Holdings Ltd 31/03/2014

4,834

157,907

2,799

174,288

411

70 Chain Reaction Cycles Ltd

31/12/2013

4,833

144,864

861

155,580

614

71

29/12/2013

4,776

302,232

5,179

271,447

494

72 O&S Holdings Ltd

31/12/2013

4,614

27,403

3,899

26,219

263

73 Dunbia Ltd

30/03/2014

4,611

764,242

7,360

722,425

3,039

74 O & S Doors Ltd

31/12/2013

4,166

26,904

-885

26,219

263

75 BI Electrical Services (NI) Ltd

31/12/2013

3,986

16,442

3,043

12,212

43

76 H & A Holdings (NI) Ltd

31/05/2014

3,812

29,288

4,441

29,073

366

77 Avondale Foods (Craigavon) Ltd

31/03/2014

3,757

41,127

2,205

36,695

358

78 Braidwater Ltd

30/09/1014

3,750

4,507

-1,388

7,198

21

79 O’Hare & McGovern Ltd

31/12/2014

3,649

68,157

3,159

34,487

97

80 Lynas Foodservice Ltd

31/10/2013

3,645

93,495

3,395

80,447

240

Hilton Foods UK Ltd

41

7162 DB Business 210x20 Strip NN1.indd 4

12/08/2015 11:26

Eye on Profit200 Information supplied by

the Company Shop Business Information Division

Company Name Year End Pre-Tax Turnover

(£000) (£000)

42

Pre-Tax Profit previous year (£000)

Turnover No of previous year employees (£000)

81 Tullymore House Ltd

31/10/2014

3,529

12,984

2,379

12,312

316

82 Cornerstone Group Ltd - The

30/09/2013

3,479

178,907

3,218

156,946

1,203

83 Diageo Northern Ireland Ltd

30/06/2014

3,473

128,140

15,054

134,127

127

84 Nicobrand Ltd

31/12/2013

3,448

7,597

2,303

6,292

24

85 Decora Blind Systems Ltd

31/12/2014

3,405

39,160

2,336

32,482

388

86 Controlled Elect Mgmt Systems Ltd

26/09/2014

3,353

12,785

3,413

12,630

200

87 Medwyn Holding Ltd

31/03/2015

3,311

47,571

2,409

44,368

288

88 Hill Engineering Ltd

31/12/2014

3,308

12,026

1,918

8,817

52

89 Huhtamaki (Lurgan) Ltd

31/12/2013

3,287

28,438

3,320

27,466

195

90 Ballyvesey Holdings

30/09/2014

3,283

561,170

4,261

493,688

2,344

91 Calvert Office Equipment Ltd

31/08/2014

3,231

8,754

2,656

8,381

47

92 Hagan Homes Ltd

30/06/2014

3,174

15,440

421

14,896

16

93 Concentrix Europe Ltd

30/11/2013

3,160

24,821

1,949

17,902

712

94 Camlin Ltd

31/12/2013

3,127

16,305

621

9,686

121

95 Highway Barrier Solutions Ltd

31/03/2014

3,106

16,901

1,291

10,408

46

96 Aes Ballylumford Ltd

31/12/2013

3,074

139,018

22,877

124,839

159

97 TMC Dairies (N.I.) Ltd

31/12/2013

3,068

136,370

-5,437

131,546

48

98 Brett Martin Holdings Ltd

31/12/2013

3,045

124,745

2,025

116,109

786

99 Tobermore Concrete Products Ltd

30/04/2014

3,003

22,745

1,022

19,739

135

100 First Trust Bank

31/12/2014

3,000

-

-8,000

-

-

7162 DB Business 210x20 Strip NN1.indd 4

12/08/2015 11:26

Eye on Profit200 Information supplied by

the Company Shop Business Information Division

Company Name Year End Pre-Tax Turnover

(£000) (£000)

Pre-Tax Profit previous year (£000)

Turnover No of previous year employees (£000)

101 Germinal Holdings Ltd

30/06/2014

2,974

31,907

2,108

27,983

107

102 Castlehill Enterprises Ltd

31/03/2014

2,973

17,476

1,198

10,911

61

103 Northland Developments Ltd

31/08/2014

2,965

9,963

2,089

9,174

15

104 Ballygarvey Eggs Ltd

30/09/2014

2,917

19,309

2,224

15,702

36

105 William Keys & Sons Ltd

31/12/2013

2,896

56,139

3,164

67,999

19

106 Heatons (N.I.) Ltd

30/04/2014

2,895

47,543

2,293

40,913

442

107 Four Seasons (No 10) Ltd

31/12/2013

2,879

19,378

1,949

13,537

447

108 A.& F.A. Dundee Ltd

31/08/2014

2,851

26,154

2,566

25,731

153

109 Trench Holdings Ltd

31/12/2013

2,825

174,185

1,478

164,271

483

110 Watchandtrade Ltd

31/12/2013

2,822

8,257

889

7,037

45

111 Relay Software Ltd

31/01/2014

2,778

6,779

2,412

5,558

64

112 Telestack Ltd

28/02/2014

2,778

16,188

2,582

16,644

84

113 ENCIRC Ltd

31/12/2013

2,768

236,769

3,347

236,594

1,096

114 Larne Harbour Ltd

31/12/2013

2,727

4,495

2,542

4,645

31

115 Mill Row Ltd

28/02/2014

2,688

16,188

2,458

16,314

84

116 Seopa Ltd

28/02/2014

2,648

9,914

2,415

8,905

25

117 Turkington Holdings Ltd

30/12/2013

2,635

16,037

27,493

13,231

92

118 CME Technology & Support Svs Ltd

31/12/2013

2,624

9,422

483

2,712

33

119 Andras House Ltd

30/04/2014

2,603

16,171

-2,068

14,675

282

120 Downtown Radio Ltd

31/12/2013

2,549

8,012

2,918

8,102

28 43

7162 DB Business 210x20 Strip NN1.indd 4

12/08/2015 11:26

Eye on Profit200 Information supplied by

the Company Shop Business Information Division

Company Name Year End Pre-Tax Turnover

(£000) (£000)

44

Pre-Tax Profit previous year (£000)

Turnover No of previous year employees (£000)

121 Copeland Ltd

30/09/2014

2,537

39,626

2,615

41,042

181

122 Lagan Technologies Ltd

31/12/2013

2,514

22,182

31,839

12,924

143

123 Webtech (N.I.) Ltd

31/12/2013

2,509

17,570

1,489

19,076

135

124 J. H. Turkington & Sons Ltd

30/12/2013

2,491

21,624

-19,119

10,874

92

125 Sisk Healthcare (UK) Ltd

31/12/2013

2,478

23,370

2,475

22,745

46

126 Natural World Products Ltd

31/12/2013

2,459

21,944

1,417

12,080

-

127 Tappaghan Wind Farm (N.I.) Ltd

31/12/2014

2,457

54,499

2,593

5,114

3

128 Warner Chilcott UK Ltd

31/12/2013

2,435

65,578

2,314

60,798

211

129 Brett Martin Ltd

31/12/2013

2,401

100,687

1,329

93,317

561

130 Dontaur Engineering Ltd

31/08/2014

2,371

9,612

248

8,083

97

131 B.P. McKeefry Ltd

30/09/2014

2,321

-

2,400

-

140

132 K Holdings (NI) Ltd

31/12/2014

2,318

8,926

7,513

10,033

76

133 Conexpo (NI) Ltd

31/12/2013

2,268

14,411

1,170

10,578

24

134 Lamex Foods Ireland Ltd

31/03/2014

2,264

162,622

2,078

171,226

7

135 Glenbeigh Ltd

30/04/2014

2,253

18,178

1,854

20,253

312

136 Drinks Inc. Ltd

31/03/2014

2,252

53,907

2,233

47,476

87

137 Westbank Business Park Ltd

31/08/2014

2,243

25,047

2,228

21,779

91

138 O’Hanlon & Farrell Holdings Ltd

04/12/2014

2,242

9,507

-5,230

14,989

105

139 Quinn Cement (NI) Ltd

31/12/2013

2,240

5,564

2,490

263

-

140 Interpress (NI) Ltd

31/12/2013

2,235

7,587

2,280

8,229

-

7162 DB Business 210x20 Strip NN1.indd 4

12/08/2015 11:26

Eye on Profit200 Information supplied by

the Company Shop Business Information Division

Company Name Year End Pre-Tax Turnover

(£000) (£000)

Pre-Tax Profit previous year (£000)

Turnover No of previous year employees (£000)

141 Equiniti ICS Ltd

31/12/2013

2,230

17,449

5,231

19,316

271

142 Clear Channel NI Ltd

31/12/2013

2,228

5,382

1,711

5,064

17

143 Lynn’s Country Foods Ltd

30/08/2014

2,201

30,179

1,543

20,205

175

144 Hastings Hotels Group Ltd

31/10/2014

2,197

32,515

2,024

32,057

1,100

145 DCC Energy Ltd

31/03/2014

2,180

254,121

1,723

276,590

186

146 Skea Egg Farms Ltd

31/12/2013

2,159

57,776

2,418

51,638

94

147 Jenkins Shipping Group Ltd

30/04/2014

2,155

18,433

583

16,130

168

148 Radius Plastics Ltd

31/12/2013

2,154

19,987

8,973

25,026

120

149 Braidwater Holdings Ltd

30/09/2014

2,148

5,509

-2,095

7,275

21

150 Western Building Systems Ltd

30/04/2014

2,115

33,192

1,917

37,114

50

151 Ryobi Aluminium Casting (UK), Ltd

31/12/2013

2,091

54,913

-3,570

38,190

231

152 Willstan Ltd

30/12/2014

2,091

11,873

4,005

12,944

-

153 A.J. Power Ltd

30/06/2014

2,088

28,794

1,358

24,774

78

154 Unilin Distribution Ltd

31/12/2013

2,086

41,229

-428

40,054

65

155 Multi Packaging Solutions Belfast Ltd

30/06/2014

2,079

11,807

4,685

25,911

170

156 KDM Hire Ltd

31/12/2014

2,078

8,857

825

7,734

76

157 Greiner Packaging Ltd

31/12/2013

2,066

33,295

1,362

30,273

254

158 Humax Electronics Co. Ltd

31/12/2014

2,042

93,083

1,583

129,676

25

159 Ulster Bank Commercial Svs (N.I.) Ltd

31/12/2013

2,038

3,486

1,042

2,470

4

160 Terumo BCT Ltd.

31/03/2014

2,012

27,226

1,922

22,686

230

7162 DB Business 210x20 Strip NN1.indd 4

12/08/2015 11:26

Eye on Profit200 Information supplied by

the Company Shop Business Information Division

Company Name Year End Pre-Tax Turnover

(£000) (£000)

46

Pre-Tax Profit previous year (£000)

Turnover No of previous year employees (£000)

161 Novosco Ltd

31/12/2014

1,948

19,489

1,892

16,225

78

162 Fiveways Shop & Service Station Ltd

30/04/2014

1,946

22,481

2,055

22,008

181

163 Bulrush Horticulture Ltd

30/09/2014

1,940

13,509

1,772

12,734

81

164 Charles Tennant And Co. (NI) Ltd

31/12/2013

1,928

38,988

1,059

39,379

63

165 Allstate Northern Ireland Ltd

31/12/2014

1,915

78,577

7,605

87,149

2,214

166 EM News Distribution (NI) Ltd

31/12/2013

1,911

59,821

1,651

60,964

190

167 Agnew Commercials Ltd

31/12/2013

1,905

70,760

2,280

67,309

148

168 Frylite Ltd

30/03/2014

1,869

30,492

1,655

31,234

178

169 Fortuna Enterprises Ltd

31/12/2013

1,836

7,270

1,253

7,093

168

170 Devenish (NI) Ltd

31/05/2014

1,823

102,673

3,009

95,093

176

171 Haldane, Shiells And Co., Ltd

31/12/2013

1,823

70,634

11,44

68,139

437

172 CDE Global Ltd

31/12/2014

1,814

32,321

1,646

32,159

97

173 Floorform Holdings Ltd

30/04/2014

1,797

674

-179

642

12

174 Metal Technology Ltd

31/12/2013

1,781

14,144

217

12,946

64

175 Moyola Precision Engineering Ltd

31/03/2014

1,753

14,155

1,217

10,412

90

176 Premier Transmission Ltd

31/03/2014

1,745

19,123

3,951

20,573

2

177 McAleer & Rushe Group Ltd

30/09/2014

1,735

68,458

-884

70,145

128

178 Delwyn Enterprises Ltd

31/08/2014

1,739

9,717

1,980

11,279

74

179 Jenkins Shipping Co. Ltd

30/04/2014

1,738

17,389

484

11,110

58

180 BA Kitchen Components Ltd

31/03/2014

1,719

22,091

1,626

21,602

222

Leading the way for local business Danske Bank is a trading name of Northern Bank Limited. Registered in Northern Ireland R568. Registered Office: Donegall Square West, Belfast BT1 6JS. Northern Bank Limited is a member of the Danske Bank Group. www.danskebank.co.uk COM2317 7162 DB Business 210x20 Strip NN1.indd 1

12/08/2015 09:30

Eye on Profit200 Information supplied by

the Company Shop Business Information Division

Company Name Year End Pre-Tax Turnover

(£000) (£000)

Pre-Tax Profit previous year (£000)

Turnover No of previous year employees (£000)

181 Mallaghan Engineering Ltd

31/12/2013

1,717

30,614

2,330

34,588

125

182 Munster Simms Engineering Ltd

31/12/2013

1,695

18,508

1,655

14,893

140

183 352 Medical Ltd

31/03/2014

1,686

40,371

1,668

33,220

228

184 Argento Contemporary Jewellery Ltd

30/06/2014

1,683

24,291

1,083

20,801

335

185 Springvale EPS Ltd

30/06/2014

1,652

23,731

1,580

18,689

85

186 John Hogg & Co, Ltd

30/04/2014

1,645

34,962

3,204

37,482

122

187 JMW Farms Ltd

30/09/2014

1,643

27,357

1,595

23,384

67

188 Advanced Sensors Ltd

31/12/2014

1,636

8,730

1,256

7,406

31

189 Ards Tyre Service Ltd

31/12/2013

1,624

17,383

1,034

11,179

75

190 J W Kane Precision Engineering Ltd

31/05/2014

1,623

9,617

838

6,598

63

191 Heron Bros. Ltd

28/02/2014

1,618

47,498

1,331

44,027

186

192 Hamilton Shipping (Port Services) Ltd

31/12/2013

1,553

1,607

1,666

1,844

12

193 Morrow Contracts Ltd

30/04/2014

1,601

13,228

12,792

1,729

87

194 Maxol Oil Ltd

31/12/2013

1,559

207,868

201,205

1,401

21

195 Bedeck Ltd

30/09/2014

1,595

31,899

289,935

3,316

350

196 Wrights Accident Repair Centres Ltd

31/10/2013

1,594

11,940

11,481

1,321

166

197 Direct Medics Ltd

31/01/2014

1,567

16,849

13,323

1,249

-

198 Fyfes Vehicle & Eng. Supplies Ltd

31/12/2013

1,549

13,564

14,720

1,729

161

199 Kilco (International) Ltd

31/12/2013

1,540

14,073

12,157

655

54

200 MMD Communications Ltd

30/01/2014

1,537

12,625

9,992

1,410

68

Eye on Outsourcing

Keeping it simple How outsourced business support services can help firms focus on what’s important

T

urn on your TV or computer and it’s almost certain that you’ll see an advertisement urging you to consolidate your bills or manage payments, whether it’s for your phone, broadband or insurance.

We’re encouraged to buy package bundles that bring all of our monthly outgoings into one payment, and the words ‘easy’ and ‘manageable’ are never far away.

We’re repeatedly told that simplicity is key and are reminded that by reducing our numerous services and outgoings into one, we’ll have more time for ourselves and much less to worry about on a daily basis.

Of course, while there may be a degree of exaggeration behind this notion, it highlights an important and interesting principle that we can also apply to business.

The Internet connections, TV subscriptions and utilities at home are in many ways similar to the catering, cleaning and security services in a business. They are fundamental amenities that we sometimes take for granted, but if consolidating our household bills will free your time for other things, why won’t it work in the same way for your business?

This approach has become one of the core principles at the Mount Charles Group, and it’s why over the last 25 years we’ve established ourselves as Ireland’s largest locally owned food service and business support solutions provider.

When the company was first launched, it focused solely on contract catering, but over time our offering has steadily diversified, so while catering remains a core part of the business, we can now provide a range of business support solutions including vending, retail catering and cleaning.

We also offer a number of integrated business support services including reception staff, maintenance, portering, waste management and a remote switchboard service.

As a business we are continually working to broaden our offering to clients and adapt to the evolving needs of businesses throughout Ireland and the UK.

Cathal Geoghegan, Managing Director, The Mount Charles Group

That’s why we recently launched our joint security venture with the RMS Group, investing over £250,000 in a brand new company to offer state of the art services that include manned guarding, key holding, response and patrol, high value property escorts, close protection and CCTV monitoring.

It was a response to the rapidly increasing demand from our clients for multi or ‘bundled’ service contracts and the one thing we couldn’t supply, until now, was security services.

Our ‘bundled’ service contracts can be tailored to suit the needs of almost any business and we have significant experience working with clients in healthcare, hospitality, public transport, education, retail, private businesses and other specialist areas.

Crucially, we don’t have a ’one size fits all’ approach, as we will adapt our offering to meet the company’s requirements, whatever the size of the contract. We pride ourselves on the quality of our service and our ability to create value for money business support packages.

Just as consolidating your phone, Internet and TV bills will simplify your monthly outgoings, so too can our business support services.

Our innovative turnkey packages equate to significant savings in both time and resources. By allowing us control of the basic

services in your business we can help ensure that you have more time to focus on your operations and driving your business forward.

Of course, there are unique challenges to each contract and every client will have different needs, but with an experienced team of over 1,800 people, we are well positioned to respond quickly and effectively.

It’s something we’ve been doing now for more than a quarter of a century and we’re passionate about the service we provide. We’re a local business with a local approach and we feel that sets us apart in a marketplace populated by multi-national providers.

Fundamentally, our services allow businesses to reduce their operating costs while improving quality, and that’s why outsourcing is such a valuable tool for Northern Ireland firms.

Basic services and amenities can function seamlessly in the background as part of one, cost effective package, leaving the client free to maximise the potential of their business.

And just as the broadband phone adverts often say, it couldn’t be easier, or more manageable.

For more information on the Mount Charles Group visit www.mountcharles.com

49

Eye on Accountancy

MHL CHARTERED ACCOUNTANTS ANNOUNCE THE INTRODUCTION OF THE VALUE BUILDER SYSTEM TM

McIlveen Howard Ltd is one of Northern Ireland’s most progressive small accountancy practices and the only one to have obtained approval to offer the Value Builder programme.

This International programme has been widely used around the world. David Logan is now a Certified Value BuilderTM provider and is one of only a handful of qualified advisors in the UK. A Blood Pressure Test for your business: When was the last time you had your blood pressure tested?

Taking your blood pressure is one of the first things most doctors do before treating you for just about anything. How much pressure your blood is under as it courses through your veins is a reliable indicator of your overall health; and it can be an early indicator of everything from heart disease to bad circulation.

Does it tell the doctor everything they need to know about your health? Of course not, but one powerful little ratio can give the doctor a pretty good sense of your overall well being.

Likewise, your Value Builder Score can be a handy indicator of your company’s wellbeing. Like your blood pressure reading, your company’s Value Builder Score is an amalgam of a number of different factors and can help a professional quickly diagnose your company’s overall health.

Predicting Good Outcomes Too When a doctor takes your blood pressure, they not only rule out possible nasty ailments; they can also use the pressure reading to forecast a healthy life ahead. Similarly, your Value Builder Score can predict good things for the future.

For example, based on more than 10,000 business owners who have completed their Value Builder Score questionnaire, we know the average multiple of pre-tax profit they are offered for their business when it is time to sell is 3.7. By contrast, those companies that have achieved a Value Builder Score of 80+ are getting offers of 6.6 time’s pre-tax profit.

In other words, and average performing business turning out £500,000 in pre-tax profit is likely worth around £1,850,000 (500,000 x 3.7). If the same company improved its Value Builder Score to 80+ while maintaining a profitability of £500,000, it

50

would be closer to £3,300,000 (500,000 x 6.6) Are you guaranteed to fetch 6.6 times pretax profit if you improve your Value Builder Score to 80? Of course not, but just like blood pressure, one little number can tell you and your advisor a whole lot about how well you are doing; and your advisor can then prescribe an action plan to start maximizing your company’s health – and its value down the road.

The first step on the road to health is to get tested. If you have a great score, you can sleep well at night knowing you have one less thing to worry about. If your score is not where it should be, then at least knowing your performance can get you started down the road to better health.

If you’re interested in getting your Value Builder Score, please contact David Logan via email at david@mhlca.co.uk

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Eye on Finance

ST. JAMES’S PLACE...

NORTHERN IRELAND MARKETPLACE GROWS If the world of financial services has changed radically over recent years, it’s a safe bet that there have been winners and losers.

Q

uality investment advice and a strong reputation can stand an organisation in good stead as the market continues to recover from the biggest financial crisis in living memory, and it’s this background that helps explain the growth of St. James’s Place Wealth Management which is based throughout the UK and has offices in Northern Ireland.

A FTSE 100 company and one

52

of the most respected names in personal financial services, St. James’s Place has £55.5 billion worth of funds under management. That’s a strong enough pedigree for many customers around the UK. But here in Northern Ireland, as most of us know, even the strongest of corporate reputations doesn’t count for everything.

Its people, and it’s the personal touch, that makes a difference.

“That’s why we operate an autonomous regional office here in Belfast, and it’s also why we work with an expanding number of St. James’s Place representatives, known as Partners, located in every county across Northern Ireland.

“Our Partners are qualified financial advisers who provide face-to-face personal advice to their clients on a daily basis,” explains Keith Willett, the new Head of Business at St. James’s Place Wealth Management’s Belfast office at Cromac Place in the city.

The number of St. James’s Place Partners based in Northern

Ireland has grown steadily over recent years to the stage where it now boasts 58 financial advisers working from 42 different Partner Practices around the region.

“And we’re still adding more advisers and firms. All of them are self-employed, often with extensive experience of providing financial advice to individuals in their local areas,” says Keith Willett. “We’re meticulous about who we work with, so becoming a Partner of St. James’s Place is by invitation only.”

St. James’s Place also has a dedicated management team at its Belfast office, including a team of four (soon to be seven)

Eye on Finance

managers, whose day-to-day role is to work closely with the Partners and their Practices in a crucial support role.

“Over the years, the regulatory burden within the industry has grown more and more onerous and complex. We support our Partners centrally to achieve high standards of quality and compliance. This not only helps provide the best possible outcomes for our clients based on their personal needs, but allows our Partners to spend more time with clients, helping them achieve their financial goals and aspirations.”

The changes to regulation in recent years is another reason for the continued growth of St. James’s Place. Many banks and financial institutions have moved away or reduced their advice-based services, leaving many of their customers uncertain of where to seek trusted advice.

A locally based St. James’s Place Partner, with testimony from existing clients and an advice guarantee* from a FTSE 100 company, has been the right choice for many new clients.

“For St. James’s Place as an organisation, clients are at the centre of everything we do in providing the right advice to help people to look after their wealth.

We have a distinctive investment management approach, working with some of the best fund managers across the globe.”

At a client level, not surprisingly, there has been an upsurge in advice needed around pensions following on from the Government’s announcement that cleared the way for over55s to be able to access their pension funds in a way that has never before been possible.

“Our Partners are here to offer advice on pensions as well as every aspect of wealth management. It’s what we do and it’s all that we do,” says Willett. “We concentrate on what we are good at, supporting our clients in achieving their financial goals – which is why as a company we continue to see year-on-year retention of client funds at over 95%.

St. James’s Place offers a wide range investment products, working with 30 global fund houses and offers products and services from other providers who they believe represent the ‘best of breed’ in their respective areas. It is a littleknown fact that St. James’s Place is the UK’s largest provider of Stocks & Shares ISAs (source: Investment Management

Association, November 2014), and also offers products ranging from pension plans through to whole of life cover and everything in-between.

“Our growth has been impressive by anyone’s standards. In the four years that I’ve been here, I’ve seen the total funds under management more than double from £27 billion to over £55 billion.”

They also continue to develop added value services, helping clients to manage their investments in the most efficient manner.

And it is aiming for continued growth in the marketplace here in Northern Ireland.

“We’ve enjoyed 15% growth on average year on year over recent years, so we’ll continue to look for and recruit new Partners,” adds Keith Willett.

“At the same time, we’ve physically increased the size of our main office here in Belfast and we’re adding to our central management team.

“But, when it comes to percentages, the one we like best is the one that says we have 92% client retention and a similar level of Partner retention. It means we must be doing something right...”

The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested. * St. James’s Place guarantees the suitability of the advice given by members of the St. James’s Place Partnership when recommending any of the wealth management products and services available from companies in the group.

The `St. James’s Place Partnership’ and the titles `Partner’ and `Partner Practice’ are marketing terms used to describe St. James’s Place representatives.

Members of the St. James’s Place Partnership in the UK represent St. James’s Place Wealth Management plc, which is are authorised and regulated by the Financial Conduct Authority. St. James’s Place Wealth Management plc Registered Office: St. James’s Place House, 1 Tetbury Road, Cirencester, Gloucestershire, GL7 1FP. Registered in England Number 4113955.

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Eye on Interiors

Designing The Agile Office Agile Workplaces are linked heavily with employee engagement and productivity, along with other key benefits. You achieve a more efficient and dynamic workplace if you design an environment around business goals, the activities people need to do to reach those goals, and by providing the tools they need.

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he Agile Workplace design concept has taken off dramatically in the past five years, thanks to shifts in corporate culture, mobile work styles and increasing use of technology in the workplace. Some of the major themes that recur in listing the benefits are; Choice Drives Performance In today’s working environment, the type of work being done is as varied as the staff are. When given a choice of when and where to work, employees view their employers as more innovative and in-turn have higher performance staff. Employers who offer choice report that workers are 12% more satisfied and effective in their jobs.

Chance Encounters Spontaneous creative brainstorming is promoted by giving staff more chance of

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having chance encounters through informal areas, soft seating and collaboration areas.

Innovative Technology Innovative technology and furniture stimulates mobility and learning. Companies that provide the right space and tools for their employees can create an environment that promotes autonomy and engagement.

69% of employees report that innovative technology enhances productivity on the job.

For more information on how you could implement an Agile Workplace, contact Innov8 Office Interiors on 028 9023 8180 or hello@innov8office.com

BENEFITS OF OFFICE DESIGN Introducing some good office design into work spaces can help to create an environment where offices are filled with engaged and inspired workers. One way of increasing innovation, performance, satisfaction and productivity is using Agile Office Design.

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Eye on News

LARGEST EVER TESCO TASTE FESTIVAL WILL SHOWCASE THE VERY BEST IN LOCAL FOOD AND DRINK FOR FREE! Belfast’s Custom House Square will once again be filled with mouth-watering aromas and the very best in local food and drink when ‘foodie’ fans attend this year’s Tesco Taste Festival from 18-20 September.

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ow in its seventh year the event is firmly established as the largest of its kind in the province with around 20,000 people expected to visit over the weekend.

As well as 60+ local exhibitors, many of whom are launching new products, the Festival boasts lots of delicious free-tosample food and drink plus entertainment, a petting zoo and a climbing wall. Much loved local favourites Mr Tayto and Mr Morelli will be in attendance and U105fm will be hosting an afternoon show

from the event on Friday advernoon. A number of well known local chefs will also be doing cookery demonstrations in conjunction with Food NI. And for the first time, the event will stay open until 8pm on Friday 18th in order to be part of Belfast’s Culture Night.

Tesco NI Marketing Manager Caoimhe Mannion said the event was the showpiece in the annual Tesco Taste NI campaign and it underlined the retailer’s credentials as a ‘force for good food’ in Northern Ireland.

“As the largest purchaser of NI food and drink we’re proud to say our commitment to local just gets bigger and better each year.

“All our Tesco fresh pork, chicken and beef, milk and eggs sold locally are sourced locally. Through our suppliers this benefits thousands of farming families across Northern Ireland.

“Each year we spend in excess of £550m on around 1200 lines from approximately 90 local suppliers.

This event is significant for the entire

agrifood sector and presents a genuine opportunity for local companies to get their brands and products in front of consumers of all ages.”

The opening hours for the Tesco Taste Festival are: • Friday 12 September (2pm-8pm) • Saturday 13 September (10am-6pm) • Sunday 14 September (10am-5pm) For updates on the spectacular event log on and keep checking facebook.com/tastenorthernireland

Inspiring Business Teams For Growth Ladies Business Lunch To Benefit Action Cancer Bank of Ireland UK and BDO Northern Ireland today launched its 3rd Annual Ladies Lunch event aimed at local high profile female business women.

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ith the support of high profile hosts at the Great Hall at Queens University Belfast on the 24th September the focus this year is on inspiring business teams.

Guest speaker and host David Meade will share his dynamic thinking, personal experiences and insights on how to overcome challenges and succeed in building successful business teams.

Very importantly the event will also see over 150 business women raise funds and awareness for Action Cancer’s unique breast screening service. The event will coincide with the launch of Breast Cancer Awareness Month.

David is a researcher and lecturer in international business with one of Ireland’s leading Universities.

By combining his professional and personal passions with his love of the

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performance of mentalism, he has become a sought after speaker with a reputation for an innovative style that forces audiences to think critically about the challenges around them.

Laura Jackson of BDO added, “We are delighted to support the Action Cancer Ladies Lunch. Being involved now for its 3rd year, we at BDO Northern Ireland understand the importance of teamwork working closely with Action Cancer and Bank of Ireland UK to host these successful events. We hope to bring out our experiences of this effective teamwork and learn more from the ladies who attend about their experiences.

Having David host and speak about his unique insights into this field will no doubt be something that each attendee takes away back to their working lives.”

Maria McAllister of Bank of Ireland UK said, “For me a common purpose and passion are central to successful teamwork and in delivering this event the common purpose shared by Action Cancer,

BDO and Bank of Ireland UK is saving lives through collaborating on a business event which engages business women whilst heightening breast cancer awareness.”

The total raised to date is over £26,000, enabling an additional 260 breast screenings and 270 counselling sessions for women in Northern Ireland.

Action Cancer is the only charity that provides breast screening in Northern Ireland and it provides the service for women aged 40-49 and 70+; last year 10,000 women were screened - most women receive peace of mind and reassurance. However, for every 1,000 women screened, an average of 6 breast cancers are detected which can be life-saving through earlier detection.

For more information on the lunch event and Action Cancer’s screening service please call 028 9080 3347

Eye on News

New Ulster Bank sponsorship deal a major boost for Balmoral Show The Balmoral Show will go from strength-to-strength with the help of a new sponsorship deal announced today with Ulster Bank, the Show’s organiser says.

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lster Bank, which has been the principal sponsor of the threeday agri-food and family event since 2009, has agreed a new threeyear deal that will see it remain the key sponsor of the Show until at least 2018.

As a result, the Show will continue to be called The Balmoral Show, in partnership with Ulster Bank.

Making the announcement this morning, RUAS Chief Executive, Colin McDonald, said that the agreement is a major boost for Balmoral Show as it seeks to continue to build on its successful move to its new location.

“Ulster Bank has been a fantastic sponsor of the Balmoral Show and its continued support will play a central role in helping us develop the event as a fitting showcase for the agri-food sector and a premier

family occasion,” Mr McDonald said.

“There is so much potential at Balmoral Park to expand and enhance the Show.

We are delighted to have Ulster Bank’s support, as a strategic partner and a passionate supporter of the local agri-food sector, to help us capitalise on the possibilities,” he added.

Richard Donnan, Ulster Bank’s Managing Director of Retail Banking and NI SME & CIB, said: “Balmoral Show is one of Northern Ireland’s most important and popular events.

Ulster Bank is proud to be so closely associated with and centrally involved in it. It’s an event that is important to our customers and our economy and therefore we are delighted to continue our support. As we seek to continue to grow our business in the agri-food sector, with £1.5billion available to lend

to businesses this year, continuing to be the principal sponsor of the Balmoral Show is a very important part of our strategy and a great fit for our business.”

Ulster Bank Senior Agriculture Manager, Cormac McKervey, says: “These are challenging times for many farmers, but the sector has proven itself to be resilient and its long-term prospects remain

strong. We see our principal sponsorship of the Balmoral Show as a symbol of our commitment to supporting farmers through the good times and the more difficult times. We also think the current challenges the sector is facing underline the importance of Balmoral Show as a place for farmers to meet, share their experiences, and plan for the year ahead.”

MANAGEMENT BUYOUT FOR BELFAST FIRM Five directors of locally-based Abbey Bond Lovis (ABL) have acquired the successful insurance brokerage and risk advisory firm in a management buyout (MBO), supported by London-based Global Risk Partners Limited (GRP) in a £multi-million deal.

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bbey Bond Lovis, which was established in Northern Ireland in 2006, provides private, commercial and corporate insurance to clients across a wide range of clients from the commercial, industrial, professional and charity sectors. The firm represents a significant number of substantial local businesses in addition to having many SME clients from a variety of industry sectors.

The MBO will see ABL’s fivestrong senior management team, who all have equity in the business, drive the business forward locally.

Maurice Boyd, managing director of ABL, comments: “Through this MBO, with the support from GRP, we plan to develop the business significantly while ensuring we maintain our solid reputation as a client focused organisation. Growth will be sustained organically as we focus on winning business

from more of Northern Ireland’s top companies and there is the added potential for strategic acquisitions of brokerages which share our values and ethos of client service being paramount.

“We have the largest on-theground workforce of any commercial insurance broker in Northern Ireland and we view our employees as our main asset, investing in them by ensuring that we provide bespoke, individual training plans in place for every member.”

“Through our regional presence, we offer customers right across

Northern Ireland the security and convenience of having their insurance broker closer to home.

ABL’s investment in our major Belfast headquarters and our regional hubs, with senior directors and highly skilled team members in situ, demonstrates our commitment to improving client service right across the province, offering a corporate and SME service but with local representation. “ The MBO team of Maurice Boyd, Stephen Carlisle, Gary Crabbe, Ken Alderdice and Patrick McMillen will continue to lead ABL.

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The business world on your doorstep...

Eye on Business Destinations

DESTINATION LIVERPOOL With years of regeneration under its belt, Liverpool is now undoubtedly the jewel of the north. As a port city, it’s historically one of the most diverse destinations in the UK, and its multitudes of influences make it a truly vibrant place to visit and in which to do business.

Business venues ACC Liverpool is the city’s largest venue, and since opening in 2008 has attracted many international conferences, winning title of ‘Best UK Conference Venue’ at the industry’s M&IT Awards for the past three years.

This year, it expands with the opening of Exhibition Centre Liverpool, which will offer conference organisers further choice and has already announced a programme of events for consumers alongside corporate events.

Key business contacts • Invest Liverpool, the agency working to bring inward investment to the city Ellen Cutler, director ecutler@invest-liverpool.com • Liverpool Chamber of Commerce Jenny Stewart, chief executive jenny.stewart@liverpoolchamber.org.uk • Liverpool Convention Bureau, the agency organising conferences in the city Kate Currie, manager kcurrie@marketingliverpool.co.uk • Visit Liverpool website: www.visitliverpool.com

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Where to stay There’s a wealth of options for business travellers staying the city. As part of the Exhibition Centre Liverpool development, a new 4* Pullman Hotel opens next door this winter. Further down the Waterfront is Malmaison, a sleek hotel with views of the River Mersey, perfectly placed for both the business district and nightlife.

And a mile north of the city centre, the new Titanic Hotel offers magnificent rooms in a converted warehouse on the Waterfront, and is particularly popular with delegates attending events at the attached Rum Warehouse venue.

Entertainment This is where Liverpool comes into its own. The famed nightlife was recently rated 3rd on Rough Guides ’50 things to do before you die’, sandwiched in between the Grand Canyon and the Great Wall of China. Between the haunts of Mathew Street, Bold Street and Seel Street there is something for every taste – a raft of traditional pubs, bars that push the boundaries and nightclubs to remember.

However, it’s not all about after dark.

With more museums and galleries than any UK city outside of London, it’s easy to see why Liverpool was the UK’s last European Capital of Culture, in 2008. Tate Liverpool has recently welcomed exhibitions from Picasso, Chagall and Warhol alongside its regular collection. The Museum of Liverpool

is the only national museum devoted to the history of a city, while Merseyside Maritime Museum tells the story of the sea.

And for those of a theatrical persuasion, Everyman won the RIBA Stirling Prize for the UK’s best new building in 2014.

Eating If you only have time to investigate one area for eating out, check out Hope Street, in the heart of the city’s impeccably preserved Georgian Quarter. Options range from fine dining at The Art School to exciting takes on traditional food at 60 Hope Street, the Pen Factory and the Asian specialties served up in HOST. For swanky surroundings, mouth-watering meals and stunning views of Albert Dock, the Pan Am Bar and Restaurant is an unbeatable choice.

Travel Flybe currently offers four flights daily from George Best Belfast City Airport to Liverpool John Lennon Airport. Due to the popularity of this route the total number of flights will increase to five from October 26th. Departing Belfast at 08.15 and with a last return flight leaving Liverpool at 20.35, business travellers can avail of a full day’s work. Lead-in fares for a single journey start at £27.99 including taxes and charges. For more information check out www.flybe.com. Liverpool airport is located 6.5 miles from the city centre and is easily accessible by a 20 minute taxi ride (approx £15) or by public transport.

BELFAST

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LONDON

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NEW YORK

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SILICON VALLEY

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Eye on Finance

HARBINSON MULHOLLAND...

KEEPING FAMILY BUSINESS AT THE TOP OF ITS GAME It’s a well-known fact that small businesses account for a huge proportion of Northern Ireland’s business community....but it’s a truism too that family businesses are here in bigger numbers than in other areas.

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he team at Harbinson Mulholland don’t need to be told. They’ve carved out a reputation for themselves advising and working with a wide range of family businesses all over Northern Ireland.

It’s no surprise that the accountancy and business advisory firm is behind an event in October specifically for family businesses alongside the Ulster University Business School, with whom they are patrons this year.

“The term ‘family business’ goes a lot deeper than some people imagine,” says Paul Mulholland, one of the nine partners at the Belfast-based firm, founded by Paul and Jeremy Harbinson back in 1998 and nowadays employing a team of 50 at its new offices in Belfast’s high-rise Centrepoint building.

“We think of ourselves as a family business because of our history and our ethos. I think there are a lot of firms like us around Northern Ireland.

“Family businesses operate across every economic sector here, and there’s no doubt that they do face some unique challenges. The sector has a pride and commitment that highlights solid values beyond the figures on a balance sheet.”

Core services for family businesses at Harbinson Mulholland include succession advice, tax planning, preparation of payroll and management accounts, as well as the normal audit, accounting and tax compliance services.

Patrick Leonard, another Partner at the firm, lists family-owned construction firms amongst others on his client list.

“They face a complex balancing act..... maximising financial performance while maintaining family control. Then, going

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forward, they will need to consider passing on the entrepreneurial mindset and commercial capabilities that helped them build their businesses.

“That’s one of the big challenges. Second and third generations very often need to have a different set of skills to manage established businesses, particularly when you consider the huge changes in technology, the need for an online presence, digital marketing etc.

“Every company should have an exit plan but it’s not always something that is on the minds of business owners when they’re working hard to keep the business where it should be.”

Darren McDowell, Partner in the Audit and Accounts Team, identifies another key challenge for family businesses across any sector.

“Growing a business almost inevitably means bringing in senior managers or nonexecutive directors from outside the family, and that’s a challenge that can be difficult for the families and for the individuals who are being brought in to the company.”

On top of all of that, there are tax issues to consider around succession, whether this involves selling to a third party, or in some cases, winding up the business.

“We’ve come across companies where there are clear tensions between the generations involved in the business. No one can claim that running a family business is plain sailing. Tensions can arise, around new technology perhaps, and that can often be the time to consider bringing outsiders into the mix. New blood can make a positive difference but it all takes careful planning.”

Patrick Leonard agrees. “We have seen

Pictured – Preparing the next generation are HM Partners Paul Mulholland and Darren McDowell, with Darren’s children, Luke (9) Josh (11) and Beth (7).

situations where an outsider has come into a senior role and the dynamics around this role fitting into the management structure need to be carefully managed. When it works well the benefits for all parties concerned are enormous “This kind of situation, amongst others, are the reasons why family businesses need to be able to turn to trusted professional advisers.

“I’ve worked with companies through the years and challenged them to think about succession when it is probably something they wouldn’t have done under their own steam. Sometimes it means taking them out of the business environment for this kind of discussion.”

“We have recently introduced a new service, The HM Advantage, which is perfect

Eye on Finance

for such scenarios. It is an interactive, computer based tool that takes clients through a series of simple questions, helping them to understand what’s most important in their business, where the priorities lie and how best to tackle them” Paul Mulholland highlights another key area for family businesses to think about, access to finance.

“Family businesses here tend to rely on the banks for their finance and not to look outside of that source. There has been an aversion to the prospect of equity finance, with the attendant fear of loss of control.

“However, in some cases equity finance can help smaller companies grow faster than they

would using more traditional finance sources and the investors can also bring additional business skills and contacts to the company.

“That said, the banks do have a much more positive attitude to lending these days, and we’re working with most of them on a day to day basis.”

All three of the Harbinson Mulholland partners have plenty of advice to pass on to family business owner/managers.

“If you’re planning to sell your business over the next number of years it’s vital to start planning to realise the value of the hard work that has gone into developing it,” says Darren McDowell.

“Then there are questions around whether the former owner stays on as a paid consultant for a set period, and issues around tax liability.”

“For us, family business is a speciality, with tailored approaches to fit the needs of individual businesses and families.”

For more information on our Family Business Event please contact Kirsty McManus at the Ulster University Business School - k.mcmanus@ulster.ac.uk If you would like to speak to our family business team or to find out more about the HM Advantage, please contact Paul Mulholland, Patrick Leonard or Darren McDowell on 028 9044 5100

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Eye on Manufacturing

JOHN DONNELLY & SDC...

GROWTH BELOW THE RADAR

John Donnelly (centre) and son Darren (right) launch SDC’s sponsorship of NI Cancer Fund for Children as the companies’ charity of the year.

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Eye on Manufacturing He sits quietly behind his desk in a rather unassuming office at the SDC Trailers’ Toomebridge headquarters, unflappable and considered throughout the interview.

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arlier this year, John Donnelly, owner of SDC Trailers and chairman of the Retlan Group, celebrated 50 years in business. He has much to be proud of, with close to a thousand employees churning out trailers of such high quality that SDC has enjoyed stellar success in recent years, becoming widely known as the UK’s leading trailer manufacturer, and one of Northern Ireland’s most successful businesses.

I’ve been asking him about any lessons he feels he can impart to budding entrepreneurs after his 50 years of experience, and after a moment or two’s thought, he offers up some very useful advice. “In business, things will always go wrong. The key is not to panic, remain calm and think your way through it.

Preparation and thought are the key to business success, and that’s the best lesson I can give”.

Born in 1947, John started out working for his father who was a blacksmith. When his father took ill John ran the forge at the tender age of 16 and from there he decided to branch out and head for Belfast. He took a job in Mallusk repairing Mixer barrels – dirty, loud and difficult work as he describes it. In October 1965 he went to work for Dennisons trailer manufacturers at Chimney Corner where he started out as a welder. Within a few years he was moving up the management chain within the company and by 1975 he was managing the plant.

It was at this point that he decided to take all of the manufacturing and business knowledge that he had accrued and make it work for himself.

He set up MDF (Metal Design and Fabrication) and based the company at the old Forge where

John (Centre left) and Darren (Centre right) welcome local MLAs to SDC.

“ In business, things will always go wrong. The key is not to panic, remain calm and think your way through it. Preparation and thought are the key to business success, and that’s the best lesson I can give.” he had worked for his father a decade earlier. He knocked the old building down and built a 4000 square foot factory making trailer chassis and within three years the new company was churning out 3,000 chassis a year. It was here that a valuable lesson was learnt which stood him in good stead when the world’s economy collapsed in 2008. Thirty years earlier, in 1978, MDF had a bumper year.

Rather than splash out on a new motor he put the money away and there it remained until the recession of 1980.

Despite the recession, MDF continued to expand and by 1984 he bought a 51,000 square feet factory building

with support from LEDU. In the beginning MDF were only using a small part of the 51,000 feet but by the early 1990’s he needed to expand again, adding a further 30,000 sq feet to the site.

In 1997 he bought SH Waterson Engineering in Magherafelt, which made farm machinery, and in 1998 he bought SDC Trailers. He says that he thought long and hard about the purchase, but reasoned that since SDC were a huge customer of his existing company, it made good logical sense to do so. The next ten years saw rapid growth in SDC’s output, but he now admits that the company was storing up a big problem which came home to roost in 2008.

“While we were very busy, we were dependent on too small a number of clients. When 2008 hit, many of those clients took a bad hit which left us limited in where we could go to replace the lost business. But I had an excellent management team around me, led by Executive Chairman Darren Donnelly, and Managing Director Mark Cuskeran, and we didn’t panic.

We put together a plan which involved cutting down the staff numbers, developing our LEAN Production capability, ensuring that quality didn’t suffer, and

getting out there to find new customers. The staff were fantastic in how they worked with us during this time and that has never been forgotten.

Everyone pulled together and we came through it.”

The company has replaced the 180 staff it had been forced to shed in 2008, and employed many more since then. SDC has recently opened its latest venture SDC Middle East to capitalise in the opportunities there and is also increasing its presence in northern Europe and Scandinavia.

So any final lessons gained after 50 years of experience?

“Make sure that you have the best people possible around you – I’ve been very lucky to have an excellent senior management team and workforce. That can be particularly true in terms of seeing potential in people and trusting them to develop, which I hope I’ve done throughout my career. That cannot be under estimated. Make sure that you know, and understand every aspect of your business, and plan well in advance what you want to do. Otherwise, don’t panic when things go wrong, and enjoy it. I still get excited when new customers land or new orders arrive”

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Eye on Finance

Ciaran McAreavey is no stranger to Northern Ireland’s banking community, or its business community for that matter. So he’s a relatively high profile choice as the man to take Close Brothers Commercial Finance’s presence on the island of Ireland forward.

CIARAN McAREAVEY...

EXPERIENCED BANKER TAKES THE HELM AT CLOSE BROTHERS A former business banker with Ulster Bank, he’s also well known south of the border having spent the last five years or so at IBRC (Irish Bank Resolution Corporation) in Dublin, most recently as Head of Recovery Management for Ireland as a whole.

In this role Ciaran oversaw the management of the distressed Irish commercial loan portfolios to achieve the best possible return for the Irish state. He ultimately disposed of those loan portfolios to a number of private equity funds which concluded in early 2015.

He says that the Managing Director’s role at Close Brothers Irish operation jumped out at him for his next career challenge for a number of reasons.

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“Close Brothers Group is a London FTSE250 listed merchant bank that employs around 2,900 people”, he says, “and which has a strong reputation that is untarnished by the banking crisis. The bank’s credit rating is one of the top three strongest of any UK based bank and its business has grown significantly here in Ireland because it has been able to continue to support the growth and development of Irish businesses when other banks could not.

“Secondly, I enjoyed my time working with SMEs and corporates at Ulster Bank and I liked the idea of getting back to building longterm sustainable relationships and

funding growth and employment for businesses in Ireland,” he adds.

Thirdly, he believes that the time is right in the Irish market in that the economy has improved significantly on both sides of the border and SMEs and growing business are still struggling to get access to the finance they need to fuel their growth and investment needs.

“Down in Dublin, I think we could see the tide starting to turn from around the middle of 2014,” McAreavey says. “Now it’s clear that the economic recovery is picking up pace and we can see the mainstream banks starting to get back into the game. But it is still difficult for businesses to get access

Eye on Finance

to credit, and that’s where organisations like this one come into their own.”

“So we’ve got a good reputation, we’re a very well capitalised and well managed institution, and we’re here to provide funding for businesses, whether they need a single piece of equipment or a full re-financing,” says Ciaran. “It’s a new form of merchant banking, in a way, in that we are here to support the ‘makers’ and the ‘doers’.”

Ciaran heads up a team of 60 working for Close Brothers Commercial Finance on the island. The firm’s Belfast office opened for business as an invoice finance provider back in 2007, and its Dublin operation opened its doors in 2010. It also has two smaller offices in Galway and Cork. The business introduced its asset finance offering, which offers funding directly for the purchase of capital equipment, in 2011 and that has seen very significant take-up from the market “Both jurisdictions in Ireland have been very successful for us,” he adds. “And, perhaps more importantly, we’re working with a really wide range of different business customers across the economic spectrum. While a number of internationally owned banks have exited the Irish market, we have expanded our footprint and have plans to continue to grow our business in Ireland and increase the support that we provide to the market here”.

Up until fairly recently, only Close Brothers and a couple of other specialist players were in the invoice and commercial finance marketplace in the wake of the devastation caused by the financial crisis.

“But we’re well aware that the main banks are getting their acts together, and we expect to see more competition in invoice and asset finance from the big names going forward.

We believe that we’ve proven ourselves to customers and to the marketplace during the difficult years for many organisations.”

“We fund assets and provide invoice finance.

It’s what we’re good at. And it’s where we can build partnerships with our customers. We know how businesses work, and understand the challenges faced on the financial front by the customers we work closely with.”

“One of the other benefits to our model is that we can fund a company alongside an existing bank, so that the business can preserve its existing clearing arrangements and funding lines but can also diversify their finance base by using us. Many borrowers suffered in the financial crisis from being overexposed to a single funder and there is clear evidence that companies here are diversifying the sources that they employ.”

Ireland was one of Close Brothers’ first ventures outside of its UK home base and the company has also set up an invoice and asset finance operation in Germany.

“ Both jurisdictions in Ireland have been very successful for us, and perhaps more importantly, we’re working with a really wide range of different business customers across the economic spectrum. While a number of internationally owned banks have exited the Irish market, we have expanded our footprint and have plans to continue to grow our business in Ireland and increase the support that we provide to the market here”.

Close Brothers is a leading merchant banking group, providing lending, deposit taking, wealth management services, and securities trading. We employ 2,800 people, principally in the UK, and are one of the largest 250 companies listed on the London Stock Exchange.

For more information on Close Brothers Commercial Finance and how we could help your business, please visit www.closecommercialfinance.com or call our local sales team on 028 9099 8957

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Eye on Leadership

“ For me, the fact that the Programme takes place in real time and with real business people and managers was the key. We discussed business news stories and case studies between ourselves as a group, we talked about live examples and we learnt from each other.”

EMERGING LEADERS PROGRAMME... A VIEW FROM THE CLASSROOM Louise McClelland has no doubts about the benefits of the Emerging Leaders Programme, one of the flagship programmes offered by the William J Clinton Leadership Institute at Queen’s University.

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inancial Controller at Glen Dimplex and a qualified accountant, Louise was actively considering pursuing a Masters degree before she heard about the Leadership Institute and its Emerging Leaders Programme.

“Academic qualifications are important and have their place, but they won’t always be attractive to people who’ve been working for a number of years in industry or elsewhere.

“The programme is unique and I could see this right from the start,” she says. “I was recommended the programme by other business associates outside of my own organisation and after meeting the

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people at the Leadership Institute I was fully on-board with the concept of the programme. When my employers agreed to the idea, it didn’t take me long to sign up.

“From an employer’s perspective, the programme is an ideal way to take a high performing individual from your organisation and make them into an even more positive asset.

“The Programme Directors who deliver the sessions are all Learning and Development professionals from both Industry & Public Sector.

I found that I was learning from them right from the start and was able to tap into their thinking.”

The Emerging Leaders Programme, says Louise, is centred around strategic planning and its importance to business success.

“Strategic planning is something we’ve all heard about but we don’t necessarily know what it really means and the difference it can make in our everyday business lives,” she adds. “The Programme taught me all about strategic planning,

not from a book, but from live case studies and classroom sessions.

More importantly, it taught me how to apply a strategic thought process.

“For me, the fact that the Programme takes place in real time and with real business people and managers was the key. We discussed business news stories and case studies between ourselves as a group; we talked about live examples and we learnt from each other.”

Louise pointed out that the Emerging Leaders participants are a mix of private sector managers – from companies at each end of the scale and public sector executives.

“Who you worked for wasn’t as relevant. The programme is focused on the individuals. We had a varied mix of people from both the private and public sectors, but it worked extremely well. There was always genuine engagement.

What did I get out of it? Looking back, the most unexpected, but positive element was learning to understand yourself and how you react to situations. Some of

our group sessions and one to one sessions were almost a form of therapy or counselling! The group sessions were always very productive, and the one-to-one sessions with the tutors were insightful and very beneficial... I’d pay for those in their own right!”

Then there is the unique Riddel Hall venue for the Emerging Leaders Programme.

“It’s a great place to spend time.

The building is beautiful, the grounds are lovely, the food is good and it’s easy to park. As venues go, it would be very hard to beat.

In essence, Louise McClelland describes the programme as highly professional, practical and geared to high-achieving business professionals.

“It’s not for everyone. Not everyone wants to drive themselves forward in their chosen careers. But it is for those who do want to go as far as they can go, and it’s also for their employers who can invest in a high-performing individual or individuals in their team.

“You definitely get out of it what you put in. You’re not expected to perform, but you are expected to take part. The programme is geared around you, but never feels like the spotlight is on you. I think it can help make the difference between being a boss and being a leader. I really believe that I’ve improved in a host of different ways as a result of taking part in the programme, and as a result maximised my contribution to my employer, Glen Dimplex.”

To book a place or for more information on the Autumn programmes…

T: 028 9097 4394 e: leadershipinstitute@qub.ac.uk www.leadershipinstitute.co.uk

Accelerate your business potential

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eade

Are you interested in thinking differently, challenging yourself and working with peers to increase your potential?

At the William J Clinton Leadership Institute we deliver world class experiential learning and executive education programmes that are designed to create immediate impact for you and your business.

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The Emerg ing Leader s programm e was every thing I was lookin g for. I wo uld highly reco mmend it fo r individuals in industry and public secto r who are lo oking to grow an d achieve b e tt er things, wh ilst having a b e tter insight help ed by strate gic focus, coac hing and a n excellent p eer group.

Louise McC lelland Financial C ontroller Glen Dim plex Heati ng

Empower yourself...

To find out more about our Autumn 2015 Programmes and to book your place: 028 9097 4394 leadershipinstitute@qub.ac.uk www.leadershipinstitute.co.uk

ONIAL

Eye on Accountancy

20 Top Years for ASM This month marks the twentieth anniversary of one of Northern Ireland’s leading accountancy firms, ASM Chartered Accountants.

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ince its launch in 1995, the firm has grown rapidly and today stands as one of the largest accounting and management consultancy firms in Ireland, with offices in Belfast, Dublin, Dundalk, Dungannon, Magherafelt and Newry, with a 160 strong team.

The firm specialises in a range of accountancy disciplines that include: corporate finance, audit and accounting, internal audit, consultancy services, taxation, hotels, tourism and leisure, insolvency and forensic accounting.

Norman Adams, Stephen Sproule and Michael McAllister were the founders of the business and are still very much part of the firm today.

Speaking at the recent anniversary event, founding director, Stephen Sproule said: “I am absolutely delighted to be here today with the entire team, many of whom have been here since the very beginning.

“From day one, myself, Norman [Adams] and Michael [McAllister] had a vision to be one of the leading accountancy firms in the country with the ability to work in both jurisdictions.

“The business grew quickly and we soon established a reputation as a provider of professional services around the Belfast area, and subsequently Magherafelt, which broadened our reach into new markets offering more specialist requirements to our clients.

“The acquisition of local firm, Robinson & Co gave us our base in Dungannon. Which, alongside Magherafelt gives us a very strong presence in mid-Ulster area.”

ASM made a definitive step into the Republic of Ireland in September 2009, with its merger with O’Hare Finnegan. With both directors, Michael O’Hare and Ian Finnegan remaining within the firm and heading up the Dundalk and Newry offices.

Today ASM’s local presence across Northern Ireland and the Republic of Ireland exceeds a number of its international rivals. The client base spans small, owner/managed and family businesses to large public bodies and corporates across Ireland.

Michael McAllister commented : “Our point of difference lies in our local market focus, our commercial approach and our desire to consistently use more senior and experienced staff than our competitors.

“This approach has enabled us to obtain a market leading reputation in our key disciplines.

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Founding directors of ASM Chartered Accountants, Michael McAllister, ASM Magherafelt, Stephen Sproule, ASM Belfast and Norman Adams, ASM Dungannon are pictured with Mentalist David Meade, who entertained the 160-strong team at the recent 20th Birthday celebrations.

“We are constantly looking for ways to innovate in order to improve our offering to clients.

“That, together with our strong local presence, means we can always match an advisor to the requirements of a particular job.

Norman Adams noted that “We stay ahead of our competitors by deploying the most senior and experienced people we can. That said, we also like to nurture and shape local graduates to give them the opportunity to learn in a fastpaced environment, taking in an average of 15

annually as part of our graduate programme.

Stephen concluded: “I would like to take this opportunity to thank our exceptional team and loyal client base for their support over the past two decades.”

For further information on ASM Chartered Accountant’s range of services, visit www.asmaccountants.com

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Eye on Innovation

Kestrel Flying ‘Streets Ahead’ Following Year Of Innovation With 2016 billed as Northern Ireland’s ‘year of food’, 2015 could be described as the ‘year of Street Food’ for dried fruit, nut and seed experts, Kestrel Foods.

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he Portadown based business, established by Lorraine and Michael Hall in 1996, has grown its turnover by 47% within the past three years and has witnessed particular success in 2015, taking a bigger ‘bite’ of domestic and international markets thanks to its targeted growth strategy and commitment to new product innovation.

A key development has been the launch and rollout of its Forest Feast Street Food range, which has quickly secured distribution across the UK and Ireland.

Investment and innovation A company which prides itself on premium quality products, Kestrel invested over £750,000 into its processing and packaging technology over the past year to drive export sales and increase its production and new product development capacity.

Having diversified into sports nutrition in 2014 with its gluten-free, nutritionally balanced Acti-Snack products, the company set about creating an innovative range of snacks inspired by two burgeoning consumer trends - street food and fusion flavours.

The result was five lines of exotic Forest Feast Street Food snack mixes, celebrating the world’s most exciting street food flavours, from the hickory smoked barbeques of Louisiana to the exotic spices of Thailand.

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Snapped up by Asda across its Northern Ireland network and over 150 of its stores in Great Britain, the range is soon to become available through other leading premium UK retailers. Street Food is also performing well in the RoI market, having been listed by leading c-store partners such as SPAR and major multiple retail partnerships in the pipeline. It also sells online through Amazon and Forest Feast’s own e-commerce site.

Sectoral focus Kestrel has firmly embedded its product portfolio within key sectors, namely foodservice, travel retail/airline, e-commerce and hospitality over the past year, and has considerably grown its private label customer base. This success is down to what National Account Manager – Foodservice Damien McCrory describes as a “mix

of innovation, quality and flexibility to meet specific customer needs.”

“We identified the sectors which represent core growth opportunities and targeted these accordingly.

Perhaps the most significant growth area has been the foodservice sector, an element of our business which has doubled since 2013,” Damien said.

This targeted, sectoral approach has led to several major partnerships for Kestrel Foods.

“Through our relationship with DHL Supply Chain, our Forest Feast Street Food ‘Koh Samui Thai Spice’ will feature on the menu of a major international airline this winter,” continues Damien.

“The product first featured on board the same airline 18 months ago. We created a completely original, bespoke snack mix with a real point of difference to reflect the premium inflight experience passengers enjoy on board.

“During that first period of flight for Koh Samui Thai Spice, the Forest Feast marketing team received the highest level of positive feedback in over 20

years, and we’re delighted that the product has been invited back onto the menu due to passenger demand.

This insight into consumer trends and our ability to meet the exact needs of individual customers is the heartbeat of our product development strategy.”

Kestrel’s products will also be ‘on the move’ this year thanks to other foodservice partnerships such as that with airline catering service provider EnRoute and a link with Scotrail’s supplier Skytrac, which will bring Forest Feast Snack International snack mixes onto Scotland’s train network.

Focus on the future Looking ahead, it is not surprising that Kestrel’s growth plans show no sign of slowing down: “We will continue to build on our success within the foodservice channel across the domestic and international markets.

“We will also seek to position ourselves firmly as a trusted provider to the hospitality sector. Our products have already been listed in boutique hotels in New York and London and we recently secured a valuable contract to supply over 900 UK and Ireland Costa Coffee outlets with our products,” Damien said.

With a range of snack products ranging from healthy to indulgent, value to premium and traditional to contemporary, Kestrel Foods is a prime example of the innovation and energy in Northern Ireland’s agri-food sector – and with a robust growth strategy top of the agenda, Kestrel looks set to soar towards 2016 with confidence.

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Take your tastebuds on a street food adventure Inspired by the sights, sounds and spices of the World’s Street Food hot spots, the Forest Feast Street Food range will transport you to far off countries, whether it’s the smokey barbeque pits of the American Deep South or the idyllic tropical beaches of Thailand.

Kestrel Foods Ltd., Unit 8 Carn Drive, Portadown, BT63 5WJ, T: +44(0)28 3835 0934, www.forestfeast.com Email: enquiries@forestfeast.com

Eye on News

Lisney Appoints New Director Of Investment A leading commercial property agency in Northern Ireland has strengthened its Investment team in response to continued growth within the sector which is expected to turnover in excess of £300 million locally in 2015.

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isney in Northern Ireland has appointed current Retail Director, Nicky Finnieston as Director of Investment and Retail as Andrew Marsden is set to leave the firm after 21 years to pursue interests beyond commercial property.

Declan Flynn, Managing Director of Lisney Northern Ireland which also specialises in office, retail, leisure and industrial property acquisition and disposal, commented: “Last year in Northern Ireland bank deleveraging contributed to the vast majority of property investment transactions circa £400 million.

“For 2015, we expected transaction levels to fall due to

the limited supply of investment properties. It is therefore encouraging that we are on course to achieve a transaction value in excess of £300 million, a figure much higher than first anticipated.

“Purchasers of the 2014 loan books are emerging as the key sellers in 2015, and the current appetite for property from local, UK and even international investors would suggest that this will continue into 2016.

“Andrew and Nicky have worked closely on more than £70 million of notable deals so far this year including the acquisition of Erneside Shopping Centre in Enniskillen, the sale of Boots on Belfast’s Royal Avenue and the acquisition of

Andrew Marsden (centre) and Nicky Finnieston (right) are pictured with Managing Director Declan Flynn

The Parkway Shopping Centre in Coulby, Newham in England.

“Now is the perfect time for us to combine the Retail and Investment division and utilise Nicky’s wealth of experience and relationships with key stakeholders, and the renewed energy and focus he brings to the team.

“Andrew has been instrumental in driving the Investment side of our business and will continue to work closely with Lisney going forward. On a personal note I would like to thank him for his hard work over many years and for his commitment to ensuring a seamless transition as he looks to move on to pastures new.”

Yellow Door goes Native Simon Dougan, founder of Yellow Door deli and outside catering, has teamed up with Phil Rodgers, a fellow chef and consultant with the Yellow Door Group, to open a new restaurant and bar, Native, in Belfast’s MAC. Phil Rodgers, General Manager, Native (right) and chef Barry Heaton celebrate the opening of the latest outlet for Yellow Door with Adam Kelly of Leggygowan Farm & Gertie the Goat.

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“T

he MAC has fantastic hire facilities, with a wide range of flexible options that include studios, theatre space, and a boardroom, all fully equipped with the latest technology,” said Phil Rodgers. “It’s ideal for the likes of press launches and networking events, and with the experience Yellow Door already has in outside catering, we intend to grow this side of our business here at the MAC too.”

Native is the latest venture for the family-run Yellow Door business, which has expanded from small beginnings as a restaurant in Gilford, Co Down, in 1992, to a multi-stranded operation employing 114 staff spread over six sites and with an annual turnover in excess of £5.5 million.

Based in Portadown, The Yellow Door Group now comprises delis in Portadown, Belfast and Lisburn; a restaurant at the Ulster Museum; the Native restaurant and bar at the MAC; an artisan bakery and patisserie division; and a kitchen garden supplying herbs and leaves.

The multi-award winning Yellow Door is also recognised as one of Northern Ireland’s premier catering companies and is the exclusive corporate caterer for Ulster Rugby at the Kingspan Stadium in Belfast.

Building on the Yellow Door’s tried and tested recipe for success, the new Native restaurant and bar champions artisan food and drink producers from across Northern Ireland, throwing the limelight on emerging stars such as Shawcross Gin, McGrath’s Premium Irish Ales, Leggygowan Farm goats’ cheese and Ewings home-cured salmon.

There’s also a firm focus on keeping menus at affordable prices – a strategy that is already paying dividends, with the 160-seater restaurant increasing its weekly turnover by 20% since opening in April.

“We chose the name ‘Native’ because it embodies our whole philosophy at Yellow Door - we have a passion for fabulous, locally produced food, and a desire to get the very best out of it,” said Phil.

Eye on Communications

Mobile leaps into the digital age Andrew Higgs, Digital Services Manager at Barclay Communications explains how the mobile workspace is changing and how his organisation is supporting businesses in the transition to a more digital way of working.

What changes are happening in the mobile industry and how are these impacting businesses today?

Recent research by Ofcom has revealed that in the UK smartphones have overtaken laptops as the most popular device for getting online, with record ownership and use transforming the way we communicate.

It’s no longer necessary to work from a desktop or laptop PC in the office; staff can now work remotely or on the move using just a mobile device. Mobile has become like a portable office and has transformed the way we work. With the new 4G data networks rolled out across the mobile platform, access to company data is quicker and easier than ever before. Workers can make conference calls, access email and connect to presentations and documents anywhere and whenever they need. Customers now expect almost immediate responses to critical business issues and with mobile devices connected to cloud solutions like 365 and Box this is becoming much easier to achieve.

What is Barclay Communications doing to support businesses in this move to a more digital way of working?

As a Direct Partner of O2, we are helping our customers to implement the right blend of cloud-based technologies to enable them to drive their businesses forwards. We are rolling out enterprise grade Microsoft products like 365 to our SMB customers, providing them with a more secure and always accessible email solution. With One drive and now Box we are enabling users to work collaboratively on documents outside

Andrew Higgs, Digital Services Manager at Barclay Communications

of the office in a secure way. Customers are also benefitting from products like Just Call Me, which offers hassle-free conference calling, using just a mobile phone. All the conversations that we are having with our customers are about how to use digital products and services to work smarter.

With mobile becoming more business critical than ever, is mobile security an issue?

Putting mobile security measures in place is a must for businesses today.

However, people tend to forget about the risks and vulnerabilities when it comes to mobile devices. Would you consider not putting an anti-virus programme on your laptop? No. So why leave your mobile devices unprotected? With cloud services now allowing access to all the same information on your mobile devices, connecting into open public Wifi presents even greater risks. Sensitive company data

is left exposed to any number of malicious applications if you do not have any security software in place. With Microsoft now aligning elements of their Intune mobile device management platform into 365, and McAfee bursting back into the scene with McAfee Multi-Access, security for mobile devices is getting stronger and we will see the market develop at a fast rate over the next 6 – 12 months.

For more information on Barclay Communications’ suite of digital services including: Office 365; Intune; McAfee Multi-Access; Box and Just Call Me contact digitalservices@barclaycomms.com or call 028 9096 0366

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Eye on Property

Belfast on the verge of something new

By Criona Collins, Retail Director, Lambert Smith Hampton

A number of previously successful brands vanished from our high streets and others cut back the number of stores they operated as consumers kept their wallets in their pockets during the downturn....

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owever, in the last two years the economy has steadily returned to health, with the most recent Ulster Bank PMI survey stating that a rise in new orders for retailers has been the driving force behind a third consecutive month of economic growth.

A long overdue rates revaluation has also helped make key zones in Belfast far more cost effective and, as a result, an attractive offering which has seen a host of new retail, food and beverage brands enter the market.

In the last few months alone we have seen brands such as Skechers and DW Sport open new stores on Donegall Place, Aldo reopened its shop, GAP has moved from its old site in CastleCourt Shopping Centre to a new larger premises and Zara has also undertaken an extensive refurbishment and expansion.

There is now talk of Zara Home arriving in Belfast and we know of a number of other retail companies which are considering the city as a prime location for the future.

To quantify the ongoing interest in the city, Lambert Smith Hampton’s Retail Department has 20,000 sq ft of lettings under offer and a

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further 10,000 sq ft in solicitor’s hands. We expect to be able to announce some well-known food and beverage brands in coming months that will add to the likes of Five Guys and Ed’s Diner, already reported in recent weeks.

Belfast’s Business Improvement District (BID) is set to launch soon and the hope is that this will give an added boost to shopper numbers through a range of marketing initiatives, paid for by a rates levy. The BID won’t be replicating council services but instead it will roll out new projects chosen by the city’s retailers themselves to encourage increased footfall and spend. Northern Ireland’s strong independent retail sector, which makes a unique and irreplaceable contribution to our overall offering will hopefully feel real benefits from the BID. There is a growing recognition of the importance of retail in creating a thriving city centre and this has been reflected by the cohesive approach being taken by Belfast City Council’s Chief Executive Suzanne Wylie.

Suzanne has brought the Council together with retailers, property agents, the main tourism bodies

and Invest NI to create a clear roadmap for city centre investment.

The way she has gone about pulling this group together so far inspires confidence that it could deliver on ideas and make positive actions happen for the sector.

Belfast City Council’s City Development Team recently commissioned a retail positioning study to help inform this approach.

Javelin Group, a retail consultancy owned by Accenture, found that there are 212 leading retail operators who are present in at least five major cities, or Dublin, which are not represented in Belfast.

I think that number is misleading and at best overstates the difference between Belfast and London. The recommendation that Belfast needs to attract more midto-upmarket retailers is something we’re already working on. Since it opened Victoria Square has brought in excess of 100 new brands to Northern Ireland, including House of Fraser concessions. Lambert Smith Hampton is currently negotiating with a number of new brands who are tentatively looking at Northern Ireland and, if we can keep up the positive momentum, I’m confident many will commit soon.

Our recent acquisition of Tushingham Moore in Manchester and Douglas Newman Good Commercial in Dublin means we have an expanded footprint in the sector and we will be drawing on their expertise and contact base to bring more retailers into Northern Ireland.

Previously Belfast didn’t have all the ingredients, but we now have a cohesive plan that gives retailer’s confidence in the city.

Large retailers no longer look at their businesses from a UK perspective, their strategies are Europe-wide. They are putting the same investment into a shop fit-out in Barcelona as Belfast and they need to make sure they get a return on that investment.

Of course the old risks to a thriving retail sector remain, not least the unrest due to political tensions which thankfully have been relatively muted

Eye on Property

“ If continued success is achieved and Belfast City Centre offers its potential regional shopping status then its achievements should permeate throughout the remainder of the province.”

in 2015. One negative story about Northern Ireland on Sky News can undo months of negotiations in one swoop.

Food and beverage retailing is a massive growth area and there is a resurgence in convenience food retail currently taking place.

In order for Belfast to take full advantage of this we require a more progressive strategy for our night time economy and also some clarity on the longstanding issue of Sunday opening. It wouldn’t hurt to see the streets a bit cleaner too.

At the height of our tourist season many parts of the city have offered

visitors a rather unwelcoming image.

Another issue is the acute need for more people to actually live in central Belfast. The new Ulster University campus will bring more than 12,500 students to the centre and hopefully many of them can be encouraged to stay when they become young professionals.

This will require additional accommodation. The Council is taking a sensitive approach to this and can learn from cities like Manchester, Glasgow and Leeds when it comes to creating a city centre with a good mixture of uses.

The Javelin report also advised

that Belfast City Centre needs an additional “anchor” store such as John Lewis to fully maximise its potential as Northern Ireland’s regional shopping destination and we agree with this sentiment.

Belfast City Centre must offer a tenant line up similar to their UK counterparts.

It should also be noted that the rates revaluation didn’t help everyone. Some businesses in the Cathedral Quarter in particular were hit hard and, given the damage already done by cuts to the funding of many arts and culture organisations,

it may make some nervous.

If continued success is achieved and Belfast City Centre offers its potential regional shopping status then its achievements should permeate throughout the remainder of the province.

It is my view that the positivity around the retail sector outweighs those negative risks and that retail in Belfast is very much heading in the right direction.

If all of us pull together we have a very attractive proposition that could see Belfast further cement its place as an up and coming retail destination.

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Eye on Travel

OPULENCE IN THE AIR Mukesh Sharma, Managing Director of Selective Travel Management, checks out how the other half fly.

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or those who enjoy high level success, the sky’s the limit when it comes to travel. For them, arriving at a destination fresh and ready to do business (or socialise) is the most basic of requirements: today the world’s real high fliers are also looking for true aviation opulence … and nobody does that better than Etihad Airways.

As the airline’s biggest agent in Northern Ireland, I was recently invited

by Etihad Airways to Abu Dhabi to get a taste of what it feels like to be livin’ the dream with familiarisation trips on board the newest aircraft in the Etihad fleet, the Airbus A380 double decker, and its newest Boeing 787 Dreamliner.

Having flown on both aircraft, I can honestly say they must be the quietest machines in the air and the most comfortable! Internal layout has been carefully considered with a view

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to creating elegant setting and privacy.

A new concept ofBusiness Studios on both the A380 and B787 provides an increase of 20% in personal space, with seating cleverly configured to offer aisle access as well as a fully flat-bed.

New Economy Smart Seats on both aircraft, offer a unique ergonomic fixed-wing headrest, extra personal space, lumbar support, and a larger 11 inch personal monitor screen.

The Etihad inflight service is legendary, with no detail overlooked.

The amenity kits on board for example are not only practical, but also have the uniquely stylish Etihad luxury touch, while the catering would put many a chic restaurant to shame … and I judge from the tough perspective of a hard-to-please strict vegetarian.

Let me give you just a taste of the on-board luxury …

The Residence by Etihad™, the world’s only private three-room cabin on a commercial aircraft, features a living room, separate ensuite shower room, double bedroom, and a dedicated Savoy-trained Butler. It features a large 32” LCD monitor in the living room and a separate 24” version in bedroom.

Measuring 125 square feet in total, The Residence by Etihad™ is located on the forward upper deck of the A380 and is available for single or double occupancy.

The A380 also offers nine First Apartments in First Class which are private living spaces featuring a reclining lounge chair and an ottoman, upholstered in Poltrona Frau leather, which opens up to become a separate 80.5 inch long fully flat bed. Each First Apartment offers a 74 per cent increase in space over the airline’s current awardwinning First Class Suites, a 24” LCD TV monitor and personal vanity unit. A fully equipped shower room is available for the exclusive use of First Class guests.

The Lobby, a luxurious lounge located

between the First and Business class cabins on the Airbus 380 providing a range of business and entertainment services.

The Etihad Airway’s Boeing 787-9 Dreamliner is quite simply the most customised aircraft of its kind in the sky today, with a mix of First Suites, Business Studios and Economy Smart Seats whose superior luxury and comfort are set to transform inflight experience. From décor and lighting inspired by contemporary Arabian design to unrivalled inflight connectivity, this truly is a dream aircraft.

Etihad Airways flies from Dublin to Abu Dhabi, connecting to over 100 destinations worldwide including Sydney, Melbourne, Hong Kong, Singapore and Delhi.

Mukesh Sharma MD World Travel Centre/ Selective Travel Management T: +44 (0) 28 9096 2000 Twitter: @selectivetm @mukeshji147

Whether it’s a gala dinner against a backdrop of grand Victorian architecture in the Ulster Hall, or a conference in Belfast Waterfront boasting the best views of the city, we guarantee our customers top notch service and unforgettable memories.

And with Belfast Waterfront’s exciting new 4,000m2 extension opening in 2016, we will continue to deliver the best conference experience for our clients.

So no matter which of our venues you choose – let our experience work for you.

To find out more contact our sales team today: t: 028 9033 4400 e: conference@waterfront.co.uk www.waterfont.co.uk www.ulsterhall.co.uk

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Eye on Retail

SMDI... LIDL’S KEY TO MANAGEMENT DEVELOPMENT People are crucial to the success of any business and Lidl have just launched a bespoke Training and Development initiative- SMDI.

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tore Management Development Initiative (SMDI) is a personnel investment programme for all of Lidl Northern Ireland’s 38 Store Managers and 70 Deputy Store Managers. The purpose of the program is to equip all members of our store management team with the competencies and behaviours necessary in order to operate as a high performing Store Manager. The initiative also aims to ensure the success of the company over the last 3 years continues and talent is harnessed and flourishes well into the future, in what is a tough and challenging grocery market.

Paul Moore, Regional Personnel and Administration Executive commented ‘The people agenda is, and continues to be, at the top of our priorities during what has been a period of rapid growth and expansion. With SMDI, we can ensure our store management team develops both personally and professionally’.

As a key facet of Lidl Northern Ireland’s talent management strategy, SMDI’s

principle purpose is designing a bespoke Personal Development Plan based on core competencies which will aim to align the core competencies of the Store Manager with the requirements of the role. This is derived through the manager’s annual appraisal, and day long competency-based ‘Development Day’.

The first phase of the Development Days are now complete and Store Managers have now received their bespoke Personal Development Plan. The training is conducted both in seminar/ classroom style and on the shop floor. Adam Wilson, Store Manager, Portrush said ‘SMDI has really benefited me insomuch that I was aware of the areas I needed to develop and work on and I now have a 9 month PDP which is purely based on my requirements. I can already see the investment paying dividends in respect of my KPIs alongside KBIs which, in my view, are equally important.’

Wilson continued, ‘The company has supported us as Store Managers in

Sean Gribben, Jan Petak, Daniel McLoone, Fergal McIntyre and Peter Nehila.

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developing a host of technology based operational efficiencies all to make life as a Store Manager easier. Some of these, include a paperless office, a Bluetooth communication device which allows us to communicate to all members of staff on the shopfloor, a suggested ordering concept to aid availability and the centralised remote logging of refrigeration temperatures.’

Eoin Doherty and Ross Madden.

Eye on Retail

Eoin Byrne.

Dan Hart.

It is refreshing and unusual, that within the retail grocery market, which has been dominated by cuts recently, that Lidl are ploughing so much financial backing and investment into a program which at the outset seems difficult to evaluate the quantifiable return on investment.

The benefits and perks to this innovative program don’t stop there; Store Managers who successfully navigate their way through their PDP can choose a company car. This is Lidl’s way of recognising their success which is in line with our values. It is clear to see that the attractiveness, from an employer branding perspective, will make Lidl Northern Ireland stand out from competitors.

Lidl’s recent growth has been well documented, and there has been an impact on employee numbers too. Moore continued, ‘Our employee numbers have significantly increased year on year by 20% for the last three consecutive years. Part of our commitment to Northern Ireland is to become an employer of choice, and whilst we’re not there yet, we’ve come a long way.’

“ It is refreshing and unusual, that within the retail grocery market, which has been dominated by cuts recently, that Lidl are ploughing so much financial backing and investment into a program which at the outset seems difficult to evaluate the quantifiable return on investment.”

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Eye on Fleet Management

The Ogilvie Advantage Ogilvie Fleet are your local contract hire company with unique advantages over our competition.

Our quest for industry leading customer service has led us to introduce unique solutions to everyday problems. Better still, we don’t consider these exceptions, these rules are standard with every fully maintained vehicle that you contract hire from Ogilvie, whether you run one vehicle or one hundred.

Rule #1 Contract Mileage Amendments: we know that predicting your mileage before entering into a long term agreement can be difficult. If you want to keep your car for longer (or shorter) or your driver is now driving more (or less) miles per year then let us know.

We will rewrite the contract and adjust the monthly cost to an appropriate amount.

Rule #2 Tyres : Accidents can happen and sometimes your driver will require a tyre to be repaired or replaced before it’s natural change. When this happens, many of our competitors will charge you a percentage of

the cost of the old ‘unused’ tyre but we thank that is unfair.

If the damage is accidental, Ogilvie won’t charge you. No need to ‘rubber stamp’ tyre re-charge invoices from Ogilvie.

Rule # 3 Puncture repair kits : All manufacturers are aiming for lower CO2’s so don’t be surprised if you have a tyre inflation kit instead of a full-size spare tyre. If you driver needs to use this kit, Ogilvie Fleet will pay to replace it – ask your current supplier if they would do the same. We consider this a part of our commitment to keeping your drivers mobile. At Ogilvie, we promise not to take advantage of unexpected situations.

Rule # 4 End of Contract : We have taken a revolutionary approach to end of contract damage recharges.

We go beyond the standard Fair Wear and Tear policy with a damage recharge matrix.

Instead of getting repair shop estimates to fix a small scratch we will simply charge you a set, predetermined figure which reflects the reduce sale price rather than the inflated costs of having the scratch fixed. In 98% of the cases where we have raised a charge to our customers, this has been accepted by our clients. We think it’s safe to say that 98% of our clients agree with our new matrix. We believe in the spirit of ‘trust and transparency’, it’s a fair way to do business.

www.ogilvie-fleet.co.uk Ogilvie Fleet, Quay Gate House, 15 Scrabo Street, Belfast BT5 4BD Tel: 028 9045 0800 Email: fleet-ni@ogilvie.co.uk 80

Rule # 5 Multi Site : Many organisations in Northern Ireland also have offices in other areas of the UK. We are like you. Established in 1953, the Ogilvie Group started life as a construction company in Stirling, Scotland. The last 60 years has seen our family run business successfully branch out into areas including Vehicle Contract Hire, Daily Rental, IT, Communications and House Building. Today, the Ogilvie Group has a turnover in excess of £200 million, employs over 400 people and has offices throughout the UK. We offer the best of both worlds, local knowledge here in Belfast, backed by a successful group in Scotland and England. #HappyDrivers in Ogilvie cars all over the UK.

Eye on Commercial Property

COMMERCIAL PROPERTY...

A Rising Tide Lifts All Boats A couple of years ago it would have been hard to imagine writing an article about the revival of the commercial property sector.

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ack then, the worst of the crash might have been and gone, but the commercial property sector had been left bloodies, battered and bruised and no one was paying it much attention, least of all the banks.

Wind forward to the summer of 2015 and things are looking decidedly up.

In the pages that follow, Business Eye has spoken to a selection of key players from the wider property industry.....agents, specialist bankers, planning experts and real estate lawyers amongst them.

And these is one clear consensus.

There is a clear and marked recovery in the sector. But, within that, there are a number of distinct trends.

First up is the headline-grabbing Grade A office space market. It’s been

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well documented for a while that Grade A office space is at a premium in Belfast, and that more of it is urgently needed to fuel demand.

There’s also increasing demand for hotel development opportunities to meet the needs of a burgeoning tourist industry, and other commentators point to significant growth in the student accommodation area.....nowadays considered a commercial rather than a residential property issue.

The clients, in this new day and age, are more likely to be based outside Northern Ireland rather than locally.

Recent months have been a further upsurge in Northern Ireland assets from GB-based investors, who have been attracted by the strong yields available here as opposed to other

UK regions. Add to that a number of strategic purchases by Government locally and you get a picture of a fairly vibrant wider marketplace.

While the banks talk up the prospects for the sector, the agents welcome to re-engagement of the banks, and the fact that – after a long absence – they are now funding commercial property once again.....albeit in a more conservative manner than they did several years ago.

But all of this overlooks the presence of one very big player indeed. Cerberus, the US investment firm, is expected to sell off the residue of its Project Eagle loan book in the near future. The presence of Cerberus in the marketplace looks set to have an effect for a few years yet.

Finally, on the retail front, the upturn is also at play. The difference these days is that retailers are very choosy – and can afford to be choosy – about where they’re going to locate. Victoria Square seems to be everyone’s first choice, but the whole of Belfast city centre seems to be faring well. The same can’t be said, though, of a number of out of town shopping centres.

Does Government do enough to encourage and drive the commercial property sector forward?

Probably not, our assembled experts would probably say. It’s a sector more often that not left to its own devices.

But a lower rate of corporation tax wouldn’t go amiss, would it?

Eye on Commercial Property

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The office market in Northern Ireland may have slowed in the first half of 2015 in comparison to H2 2014, but it is by no means struggling.

Companies and investors are still interested in prime space in Belfast in particular.

Whilst there was just 87,487 sq ft signed for in 22 transactions throughout the year, we are still seeing a high demand for office space.

Indeed, despite being slower than Q4 2014, highlights for the first half of 2015 include deals to Rapid7, PwC, Chain Reaction Cycles, Finepoint Films, Aviva, Loud Mouth Media and Brook Street.

All of these companies are creating jobs in their respective areas.

Brian Lavery Managing Director CBRE BELFAST

Grade A space still remains a problem.

Despite there being around 905,000 sq ft of accommodation available in Belfast at the end of H1 2015, only 220,000 sq ft was Grade A and even this is fragmented across multiple buildings – making it difficult to accommodate larger requirements.

However, there has been a noticeable pickup of interest from developers as we expect rents will achieve £18 per sq ft in the not too distant future. Local, national and foreign investors are also attracted by the high yields and affordable rents in Belfast.

There are also several high profile planning applications currently submitted. McAleer and Rushe have applied for approximately 200,000 sq ft in Bedford Square over two buildings and Stargime have submitted planning for a new building at Custom House Square.

There is a potential for an increase in available Grade A space also with refurbishment of several office buildings in Belfast. Notable buildings such as Arnott House on Bridge Street has been refurbished and let to Rapid7, or the former Ireland Brothers building on Adelaide Street is currently undergoing a transformation to Grade A space.

Ultimately, while the market is in a positive position and poised to have a successful H2 2015, the issue around corporation tax is a severely limiting one. Prolonged Stormont Executive issues to allow a tax cut are cooling investor interest in NI and going by our neighbours’ success in Dublin, a cut would be a huge boost to the Belfast office sector.

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Eye on Business Leaders Forum

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Shorter lease terms including rental incentives and breaks are likely to be the new norm After a number of years being overweight against commercial property, most banks, including First Trust Bank now have capacity to lend into the sector. In their absence, a range of new participants including private equity and institutional investors have entered the Northern Ireland commercial property market which has helped the market to develop. First Trust Bank views Commercial Property as an important part of a well-balanced, diversified and sustainable lending book. We’ve already supported a number of proposals in the sector this year and look forward to working with our existing and new customers as further opportunities arise.

However, it is important to point out that a Bank’s approach to lending into the sector will not simply be a return to the past. Policies with respect to covenant strength, asset cover and loan to value % remain important but there will also be an increased focus on debt service cover, amortising repayment, cash flow sweeps and average weighted lease term. Shorter lease terms including rental incentives and breaks are likely to be the new norm and Banks’ will stress test downside scenarios with regard to refinancing and re-letting risks taking account of vacant possession values and increased interest rates.

Brian Gillan Head of Business and Corporate Banking FIRST TRUST BANK

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Commercial property demand at the heart of Belfast city centre regeneration Planning consultancy is one of the key early economic indicators of property investment and confidence. If investors have confidence they will buy sites and back projects they can finance and which yield the most return. During the downturn, we saw significant capital investment away from property and into renewable energy projects, where there was certainty of return.

The downturn has now run its course and many of the key players are back in business. They are also joined by an array of UK, Irish, EU and international investors. The primary investor focus is on commercial property. In our business three areas stand out: Grade A office, student accommodation and hotel development.

David Kerr Director

STRATEGIC PLANNING

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The number one hot spot is the development of Grade A office space. There is an obvious connection between investor confidence in this sector and comparative higher rent costs across GB and ROI. We’re also in no doubt investors see the prospect of lower corporation tax as a massive bonus should it materialise in a few years.

One of our larger client schemes submitted for planning this year is the proposed £25m Grade A office scheme at 4 Queens Square by Paris

The well-publicised shortage in Belfast Grade A office space is creating new opportunities in the market alongside refinancing proposals in other sectors which introduce an appropriate level of senior debt in replacement of equity.

In Belfast retailing, the relocation of Gap, the arrival of Sketchers and the completion of Zara’s redevelopment on Donegall Place are to be welcomed, in what has been a very difficult period for our high streets. We are seeing larger retailers reconfiguring and integrating their online and shop presence whilst considering the importance of increased leisure offerings.

It seems that the expectations of where, when and how a discerning consumer ‘shops’ has become ever more complex and varied.

Northern Ireland has the right ingredients to attract increased levels of Foreign Direct Investment, which in turn will positively impact on the commercial property scene, but the need to resolve the current political impasse including a time and date for lower corporation tax can’t be overstated.

First Trust Bank views Commercial Property as an important part of having a well-balanced, diversified and sustainable lending book. We’ve already supported a number of proposals in the sector this year and look forward to working with our existing and new customers as further opportunities arise.

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based developer Stargime. A major end user within the financial services industry stands ready to occupy and create 350 additional jobs at an average salary of £30k. There are other equally ambitious plans waiting to be submitted for other sites in Belfast subject to funding.

The second area of significant activity is in the student accommodation sector where managed facilities operating elsewhere in GB are proving attractive to lenders and investors alike. There is some localised political concern about how these facilities may operate in practice, but from a City Planning perspective we need to encourage the provision of these buildings in the City centre and close to the places of higher education. We need to allow areas such as the Holylands to return to more normal residential communities.

The growth in tourism and visitor numbers to Belfast is also driving demand for hotel development and the purchase of Windsor House by the Hastings Group is yet another vote of confidence for Belfast. We have clients seeking permission for hotels in the Greater Belfast area and actively looking for sites for hotel and tourism accommodation.

A prosperous Belfast fuels economic confidence throughout Northern Ireland. The appetite for commercial property is a sure sign that demand will also return in earnest for residential accommodation in the city centre.

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Eye on Business Leaders Forum

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Bank of Ireland has undoubtedly seen increasing signs of recovery in the commercial property sector over the last 12 months, with overall increased transaction levels and requirements for debt finance.

With its funding commitment across the island, commercial property lending is an important part of our business, and Bank of Ireland is well positioned to meet the needs of the local commercial property sector.

Recent high profile loan sales and investment transactions have underpinned investor confidence in the NI commercial property sector, setting much needed benchmarks for asset values and NI commercial property appears relatively attractive in comparison with similar assets in GB and RoI and also against other possible investment classes.

Craig Logan

The recovery has been slower to take hold outside of Greater Belfast but for well-located assets in their respective catchments, let to strong tenants, the sector is probably now at its strongest point over the last 7 years.

Director, Property Finance Group BANK OF IRELAND CORPORATE BANKING

“ Martin McDowell WMW McDowell, FRICS, Managing Director OSBORNE KING

The commercial property sector is finally showing reasonably positive signs of recovery, albeit we remain the slowest recovering region of the UK. Recovery will always be dependant on the availability of finance and working capital so the re-emergence of our local banks is a key element of sustainable growth.

We still face a huge number of challenges and selling Northern Ireland as an inward investment opportunity is not made easier by our politicians failing to reach agreement on economic issues and delivering the anticipated Corporation Tax incentives that could give us a competitive edge.

Our biggest property challenge is to deliver the quality of accommodation that inward investment companies require since our development pipeline has not yet started rolling out actual Grade A options. We need our banks to recognise the opportunity and seriously consider releasing development finance. We also need our public sector occupiers/advisers to stop pretending that viability exists at rental levels of around £12-50 per sq ft when reality is that £18 to £20 per sq ft is needed to actually deliver a quality product.

Bank of Ireland is supporting the emerging recovery in the sector. Current opportunities, unsurprisingly, involve high levels of associated due diligence, with the Bank keen to do business with experienced property professionals with a proven track record in successful asset management and enhancing asset value. Whilst debt is available for these opportunities, an appropriate level of equity is also required to support any transaction.

Other specific deal characteristics, such as the requirement for loan on loan finance or the need to work with companies in administration are also a feature of the changing local commercial property market. Bank of Ireland has supported customers in these scenarios in other jurisdictions, and has also supported similar transactions in Northern Ireland.

Hopefully, the progress that has been made to date in the property sector will continue apace, and we look forward to generating a pipeline of transactions in the market place, and to helping to increase employment opportunities in the NI property and construction sectors.

”

We still face serious refinancing issues for many developer/investors who now have to deal with offshore equity funds who have acquired huge swathes of local debt. These funds are here to extract profit and have little genuine interest in working with borrowers to deliver viable projects. They simply want to see a quick return and then exit. This refinancing exercise may well be the biggest challenge to be overcome within the commercial property sector if we are to achieve growth. However, there are positive signs and I am substantially more optimistic that general levels of business are improving, clients are re-engaging after a period of hibernation and are keen to try and drive our sector forward. If only our politicians could deliver forward thinking policy instead of constantly appearing on the edge of being engulfed by scandal we could make actual progress.

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Eye on Business Leaders Forum

“ Geoff Sharpe DANSKE BANK

“ Relationship Director, Commercial Real Estate ULSTER BANK

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the most attractive markets for investors.

While Northern Ireland’s total return of 10.9% in the last year was lower than the UK and ROI (17.9% and 40.1% respectively), the Northern Ireland market benefited from exceptionally high income returns of 8.3%.

“Today’s commercial property market has a much more diverse investor base than in the past, with institutional, fund and private investors active in the market. The recovery has been largely equity driven, with debt levels and gearing generally at a lower level than previously.

“However office rents at £15 per square foot (psf) remain below the level of £18-£20 psf needed for the majority of development appraisals to be economically viable, particularly against the backdrop of rising construction costs. While the market is indicating a likely increased rental tone during the second half of the year, our view is that a deal flow is needed to deliver confidence. And there is not enough available product to meet underlying investor demand, particularly in the sub £10 million lot size.

“There is no doubt that Northern Ireland offers some of the best opportunities for FDI and office occupiers, which will only be truly maximised if ongoing uncertainty over welfare reform, the budget and devolution of corporation tax can be resolved.”

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“The yield differential in the Northern Ireland market relative to regional GB cities continues to be a core driver of activity levels, together with positive rental growth forecasts and asset management opportunities. Income returns, coupled with recovering capital values have made Northern Ireland one of

Corporate Banking Manager

Gary Barr

“Northern Ireland’s commercial property market has made significant strides on the road to recovery, albeit against the backdrop of a historically low base after the recession and market correction which followed. At Danske Bank we have seen a notable improvement in investor confidence and an increased level of activity from both institutional and private investors. Over the last 18 months, we have provided over £150 million in new lending to the commercial property sector.

We are seeing strong interest in Northern Ireland assets, including from investors based in Great Britain who have been attracted by the yield differential compared to UK regional cities and also by rental growth prospects, particularly in the office sector where there is a comparative lack of suitable Grade A accommodation A particular feature of the NI commercial investment market this year has been a number of purchases by government, most notably Belfast City Council’s acquisition of Clarendon House in Adelaide Street. There have also been positive signs in the retail rental sector with several recent store openings in Belfast city centre including Gap and DW Sports.

GB investors have also been active in seeking to acquire quality retail and office properties, both in Belfast and in provincial towns, including the acquisition of Erneside Shopping Centre in Enniskillen by London-based buyers. We expect to see a number of other significant local assets being brought to market in autumn.

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Eye on Business Leaders Forum

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Certain areas and types of property have enjoyed significant recovery.

Retailers are returning to Belfast encouraged by recent rates reductions. Voids in Donegall Place have been filled (DW Sports, Zara, Gap) and LSH report new lettings of 50,000 sq. ft. at Victoria Square in 2 years and 30,000 sq. ft. now under offer or in legals. Likewise office occupiers are coming into Belfast again with rents more competitive than Dublin and other UK locations.

However, the gap is widening between Belfast Zone A retail and high street shops and shopping centre units in regional towns where rents are still depressed and large numbers of unoccupied units remain. An equivalent gulf exists between Grade A offices in Belfast City Centre and Grade B or less elsewhere.

Investment activity has continued apace with CBRE reporting over £140 million transacted in 2015 first half and expectations of an even stronger second half. Local bank loan sales to US investment firms and NAMA’s disposal of remaining NI assets have released large numbers of properties into the market. These are attractive to buyers given the differential between prime yields available here and those in other UK regional cities, with potential for further rental growth. This has stimulated the return of London institutional and other

Gerard Small Partner

JOHN McKEE SOLICITORS

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The commercial property market in Northern Ireland has witnessed sustained growth over the past year.

As conditions improve, we are encouraged by the activity levels to the extent that we predict transaction volumes in excess of £300 million for this year, exceeding our initial expectations.

Last year’s elevated total of £400 million was somewhat unique as it was primarily driven by the high levels of bank deleveraging.

So far this year Lisney has acted in approximately £70 million of notable deals including the acquisition of Erneside Shopping Centre in Enniskillen and the sale of the Boots investment property on Belfast’s Donegall Place.

David McNellis Director LISNEY

A major player in our market is Cerberus which is expected to sell the residue of the Project Eagle loan book in the foreseeable future. We are sure their presence will remain for several more years as they trade the more granular assets of the recently acquired loan books of Projects Aran and Rathlin.

The well documented lack of Grade A office space in Belfast remains a concern for our economy, although the prospect of assistance in the form of Government mezzanine funding will be welcomed by developers as it aims to stimulate construction activity. However,

smaller investors and a wave of significant sales (Windsor House, The Linen Green).

In Belfast, existing offices (Causeway Exchange) and sites for redevelopment as hotels (Windsor House) or office space (Clarendon House) have attracted investment. Outside Belfast, shopping centres have been the focus of activity (most recently Erneside) but otherwise commercial property investment and development remain constrained.

Significant challenges lie ahead not least supply of Grade A office accommodation in Belfast City Centre, necessitating redevelopment of existing sites. Reduction of corporation tax would give a significant boost to the sector.

Planning uncertainty continues with judicial review of the Ministerial decision to adopt BMAP. This goes to the heart of future retail strategy - whether and where John Lewis or an equivalent locates here and how the competing interests of Belfast, regional town centres and out-of-town developments will be balanced.

Quality retail space in Belfast remains light (many high-end retailers not represented and insufficient spend from affluent consumers).

Royal Exchange may provide required capacity but the timing of this scheme is not clear. Other challenges to traditional retail property include increasing online shopping and the trend to more frequent, lowervolume convenience shopping.

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the delay in providing new stock along with a generally improving economic climate will result in rental levels rising to well above the current peak of £15/16 per square foot.

Still in its infancy the devolution of planning powers, as a result of the recent local government reform, aims to assist with the pace at which new development can be approved and actioned.

Activity in the retail sector has been driven by rising levels of consumer confidence attracting interest from a range of retailers including Massimo Dutti and Lifestyle Sports.

There has been a particular surge within the hospitality sector with popular food outlets such as Ed’s Easy Diners and Five Guys laying down roots in the province.

Whilst availability of finance is growing, we don’t envisage the traditional banks will be stretching the loan to value ratios in the foreseeable future thus creating opportunities for Mezzanine funders to fill the gaps. New funding market entrants include Jefferies Loan Core and Rhino.

Corporation tax remains the elephant in the room for all sectors in Northern Ireland and needs to remain at the forefront of lobbying by the business community if the wider economy is to thrive.

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Eye on Business Leaders Forum

“

More than ever, companies are struggling to secure new, top quality office space in Belfast.

More than ever, companies are struggling to secure new, top quality office space in Belfast.

The city has emerged as a leading location for foreign direct investment companies, meaning there are plenty of local and international businesses who are looking for office space at a time when supply is short after several years of limited development.

As of June 2015, there was around 900,000 sq. ft. of vacant office space in Belfast. Some 240,000 sq. ft. of this would be considered Grade A (new builds and/ or prime location), with the rest of the accommodation comprised of secondary accommodation (older refurbished buildings in good locations) and low quality stock (old buildings in secondary/tertiary locations).

Lambert Smith Hampton’s annual UK Office Market report showed prime rents in Belfast increased by 12 per cent in 2014 as a result of the constricted supply of Grade A office accommodation.

Stuart Draffin Director, Head of Agency

LAMBERT SMITH HAMPTON

We estimate there could be close to 400,000 sq. ft. of live requirements in the market – and this could be enough to kick start a new cycle of development, but we believe rents on prime

“ Mark Blair Partner

A&L GOODBODY

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office space will need to rise by a further 20 per cent to make new build developments viable for private property developers.

In Belfast, prime office rents are expected to achieve £16.00 sq. ft. by end of 2015. We also expect rental growth for good quality second hand space due to the lack of Grade A stock.

Foreign direct investment in Northern Ireland will continue to be crucial to the ongoing development of the economy and indeed the commercial property market, and most of the big national and international companies will not be deterred by what would still be a relatively cheap rent.

To secure these occupiers the market needs a good supply of Grade A office accommodation.

If rents increase as expected, it is much more likely that this supply will materialise and therefore this is another tool to aid inward investment. If rents rise by approximately 20 per cent, and all other things remain equal, Northern Ireland will continue to compare favourably to competing destinations.

Tech, media and the creative industries have become some of the fastest-growing sectors in the Belfast office market in recent years, and they are setting trends.

Conventional users are now influenced by tech occupiers’ tastes and demands.....

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The Northern Ireland property market has been transformed since the crash of 2008 and the high profile retail investment transactions, driven by continued banking deleveraging and associated property loan portfolio sales, have been widely publicised.

In the longer term, some of the above borrowings will continue to require refinancing and certain types of new buyer like the UK pension funds will need to continue to trade-on their assets as well, helping to facilitate a more normalised market.

We have seen several UK-based pension schemes and listed property companies either enter or re-enter the Northern Irish property market in the last 24 months. Initial speculation became a highly competitive race for shopping centres last year; and the larger single let stand alone retail units continued to sell quickly to similar buyers.

The property market is moving fast but there are still bargains to be had compared to the rest of the UK and Ireland.

Some of these buyers also added debt finance to their acquisitions and in all the initial deals that debt was provided principally by major UK-lending banks and run out of London. In the last 12 months, however, locally based banks’ appetites have definitely increased and – following the large loan portfolio sales – a secondary market has been driven by the refinancing of local borrowers, mainly by private equity providers of mezzanine finance.

We are still not seeing bank funding on spec commercial developments, within the office space in particular rents needing to continue to rise to make such schemes viable in the first place, but we are seeing the return of the banks in many other areas.

With RICS predicting that house prices in NI will increase more than any other region in the UK in 2015; more new office building starts occurring this year than for some time; and at least three significant student accommodation schemes on the cards in Belfast, there could be an increasing diverse range of investments available to those interested in our jurisdiction.

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New thinking about energy

www.electricireland.com LoCall 0845 309 8138

Eye on Electric Ireland Top Performer Of The Month

L-R Paddy McCarney of Electric Ireland’s Belfast office, David Boyd and Brenda Buckley of Business Eye.

DAVID BOYD...

MAKING BETTER HOMES What’s the secret of Betterhomes’ success?

Top Performer David Boyd cites ‘perpetual hard work’

D

avid Boyd has plenty of reasons to be cheerful. Betterhomes, the company he set up in 1998 with Gary Sinnerton, has grown into Northern Ireland’s largest locally owned home improvement business.

Ever modest, Mr. Boyd is keener to talk about the success of the company of which he is Joint Director than his own.

“Betterhomes is proof that perpetual hard work and effort pay off,” he says.

The Betterhomes story got started in 1998, when Boyd and Sinnerton were both working as joiners. Having taken the decision to launch their own small venture selling building materials, the pair decided to put their chief emphasis on customer service.

“We always went out of our way to treat our customers properly, no matter who they were,” says Mr. Boyd. “And

our policy of continual evolution across the product range meant that we could negotiate better prices from suppliers.

Passing on those savings soon made us the most competitively-priced home improvement firm in Northern Ireland.”

In fact, the Betterhomes store in the Duncrue industrial estate became something of a local icon, with its extensive ranges of low-maintenance, high-quality uPVC windows, doors, conservatories and roofline products.

Those same core values of low prices and excellent service equipped Betterhomes to bounce back quickly after the recession. As early as 2014, the company was reporting 16% year-on-year sales growth, and it recently made a high-profile entry onto the European markets coinciding with a diversification into kitchen, bedroom and bathroom supply.

“I’m proud that we were able to come bursting out of the slump in such great shape,” says Mr. Boyd. “Gary (Sinnerton) and I agreed that we needed to keep that momentum going, so we hired a marketing specialist. She has

massively increased our reach – to the extent that we’re looking at opening Betterhomes branches in the Republic of Ireland and on the UK mainland.”

Of course, the move onto the European stage means new challenges. Betterhomes will need to find ways to compete with larger national and international rivals while maintaining its core values. Boyd is convinced that the solution lies in staff training and development.

“Developing our in-house skills doesn’t just improve our customer service. Our on-the-job training and career-related study options help build staff loyalty, a quality which I value very highly. We just hired 15 new faces, and I expect to be seeing every single one of them five years from now!”

“We encourage openness throughout Betterhomes,” he says over his shoulder. “Besides making

sure that senior management are available at all times, we make sure that we hear from everyone during the weekly team meetings.”

With the impromptu discussion concluded, Mr. Boyd returns to the matter in hand – his own recognition as Performer of the Month. “We’ve always had a policy of recognizing staff achievement, of course,” he says. “But it was a bit of a shock to be named Top Performer myself! I think it may have something to do with my work for the Northern Ireland Hospice charity, which has helped with the rebuilding of the Somerton Hospice in North Belfast. It’s a pet project of mine which has generated plenty of enthusiasm within the company, and as the year rolls on we’re expecting every one of our 100 staff to get behind the campaign at a series of fundraising events taking in the wider community.”

So, does the Betterhomes’ ‘Performer of the Month’ have any parting thoughts? Characteristically, Mr. Boyd deflects attention back to the company.

“You know about Network VEKA, the trade body for home improvement companies? We just picked up their ‘Best in Ireland’ trophy for excellent service and customer satisfaction for the fourth year running... and we’re hoping to scoop National Award in 2015!”

Given Betterhomes’ track record, it seems to be a pretty safe bet that Mr. Boyd will get his wish.

Betterhomes is located at Duncrue Industrial Estate and is open to both residential and commercial customers. For more information, visit www.betterhomesgroup. com or call 0800 2545 222.

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Eye on Accountancy

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Eye on Accountancy

PATRICK GALLEN...

FLYING THE FLAG FOR ACCOUNTANTS Patrick Gallen should fare well in his year as Chairman of the Chartered Accountants Ulster Society. He’s got charisma (…something that can’t be said of all accountants), he communicates well and – perhaps most importantly – he’s passionate about his profession and the role that it can play in business and the economy.

S

ummer means that he’s in the relatively early days of his chairmanship. Come the autumn months and he’ll find himself in his dinner suit and black tie for the annual round of business functions.

But the lack of formal events doesn’t mean he hasn’t been busy. Our interview at the Chartered Accountants Ulster Society headquarters on Belfast’s Linenhall Street was wedged neatly in between a briefing meeting with DETI Minister Jonathan Bell and a head to head with Bell’s predecessor, Finance Minister Arlene Foster.

“It’s a very important part of the job,” says Gallen, “and it’s one that I enjoy.

What comes across from the politicians is that they’re working as hard as the rest of us to move things forward here.

But that’s not always the perception.”

Patrick Gallen is a ‘lifer’ with PricewaterhouseCoopers. He’s been with the firm for 25 years, initially in audit but for the past 15 years in consulting and PwC’s People & Change division in particular, specialising in change management and learning.

It’s a job that takes him across to London on a regular basis.

It’s not his first leadership role with Chartered Accountants Ireland.

Back in 1993, he chaired the organisation’s student body, and he’s also a past President of Belfast Junior Chamber of Commerce.

He’s keen to be forward looking in his approach to the role, and highlights his key priority area for the organisation and its 3,800 members here in Northern Ireland, spanning those in accountancy practice, those working

as FD’s and Financial Controllers in business and industry, and those working in the public and third sectors.

“We have to attract the brightest and the best into chartered accountancy here in Northern Ireland,” he says.

“That can be a challenge when young people are attracted by careers in technology as well as the traditional sectors of medicine and law.

“So our message is that a wide range of good degrees can lead to accountancy careers and a direct routes into the world of business.”

On the recruitment and training front, CAI Ulster Society has just completed a major pilot programme with two of the leading FE colleges here and looks set to extend this collaboration into the future with accounting apprenticeships through all the FE colleges.

But one of Patrick Gallen’s first tasks as the organisation’s new Chairman was to launch the fundings of a major survey by Chartered Accountants Ulster Society into Northern Ireland’s Economic Prospects.

The survey (published in June) gathered the views of an influential sample of more than 300 locally-based chartered accountants.....and that size of sample can’t be easily ignored.

It showed clearly that local accountants reckon that Northern Ireland is edging towards recovery, but that the outlook for growth remains uncertain.

Concerns around cuts in Government spending and the strength of sterling are seen as the main factors impacting on the performance of the local economy in the year ahead.

The percentages were picked up and highlighted by the

media earlier this summer.

The survey showed that 72% of respondents said that Northern Ireland is ‘some way’ towards recovery while 21% reckon that it is a ‘long way off’ recovery.

Worryingly, only 6% concluded that the region is ‘well on the way’ to recovery.

Previous surveys of Northern Ireland’s chartered accountants had seen a strong uplift of economic prospects between 2013 and 2014, but prospects are not believed to have improved in the last year. 38% viewed NI’s prospects as ‘good’; 43% viewed the prospects as ‘indifferent’ and 17% as ‘poor’.

“ We’re not here to criticise the politicians, We’re here to work alongside the politicians, to offer our professional advice and to provide our input as often as we can.”

“One factor that needs to be emphasised is that the survey was conducted before the General Election back in May, so there was a higher degree of uncertainty in the air,” adds Patrick Gallen.

And there are other brighter notes.

The survey concluded that a smaller number of businesses were close to insolvency than in previous years.

On the key question of corporation tax, and the setting of Northern Ireland’s own, lower rate, it’s no big surprise that 79% of the accountants surveyed supported the move. Half of them prefer an immediate lowering of the rate (or as immediate as is possible given the politics...) while 38% preferred the phasing in of a new rate.

With thoughts in Northern Ireland starting to turn towards a rate of 10% rather than the 12.5% which

would match the Republic, the survey indicated that 25% support the lower rate, with the majority (54%) opting for 12.5%. Interestingly, 16% of those surveyed said that the rate should remain static at the current UK level (20%, soon to drop to 18%).

“One way or the other, there’s no doubt that it needs to be sorted out,” says Gallen. “But it looks and sounds as though it is going to take a while from here until we have a lower rate in the bag.

“But, having said that, welfare reform also needs to be sorted out in the shorter term. And we have to look at how we can invest in infrastructure and in areas like workforce skills. To that end, it’s important that everyone engages in mature politics.

“We’re not here to criticise the politicians, We’re here to work alongside the politicians, to offer our professional advice and to provide our input as often as we can. Answers and solutions – not criticism – are what it is all about.

Chartered Accountants Ulster Society will be turning the spotlight on ‘Funding For The Future’ at a oneday conference on Tuesday, 10th November, at the Europa Hotel, Belfast.

The event will examine whether the supply of finance is keeping up with demand, at non-traditional sources and at how the property overhang is affecting the wider marketplace.

A panel of speakers is being led by Professor Russell Griggs, Independent Reviewer of the UK Banking Appeals Process and Chairman of the EAG Access To Finance Implementation Panel.

“We intend to look at the availability and suitability of various forms of finance, including private equity, crowd funding and government support initiatives,” adds the Chartered Accountants Ulster Society Chairman.

And Patrick Gallen isn’t the only local man at the help in the wider organisation. Tony Nicholl, a former Chairman of the Ulster Society, is currently President of Chartered Accountants Ireland.

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Eye on Events

NEW LOOK FOR ARENA STAFF

L

isa McAnally and Jordan King show off the new uniforms that will be worn by staff at the SSE Arena Belfast. This month marks the official name change of Northern Ireland’s largest and most famous entertainment venue from the Odyssey Arena to The SSE Arena, Belfast. All

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tickets, signs, uniforms, staff badges, stationery and merchandise at the site will now carry the SSE Arena brand as part of a 10 year naming rights deal with SSE Airtricity. The Arena is currently undergoing a £3m refurbishment and will reopen in September in time for the Belfast Tattoo.

ANGELA’S MEDIA MESSAGE

I

n the third of a series of business breakfasts this year, the Publicity Association of Northern Ireland (PANI) has welcomed Danske Bank UK’s Chief Economist Angela McGowan to present on the advertising and publicity industry’s economic prospects for 2015 and beyond.

The event, which took place earlier this summer in Belfast, was attended by over one hundred representatives

from the wider media and publicity industries, and saw Angela outline the top performing sectors of the industry here as well as those predicted to excel in the next five year period in what was a comprehensive overview and tour of the economic indicators that matter and how they affect the NI economy.

Angela is pictured (right) with Nuala Meenehan, Chair of PANI.

Eye on Events

GRAFTON KNOCKS IT OUT OF THE PARK

G

rafton Recruitment launched a campaign to fill the recently announced 289 jobs created by American company OneSource Virtual in Derry. The campaign which included an American themed event in Derry’s Foyleside has, so far, attracted over 200 candidates to apply for the roles in information technology, application

management and payroll services.

Pictured practising their pitch with Uncle Sam are (L-R) Julie Cordner, Claire Dooher, Anne Martin, Aaron Diver, Hayley Adamson and Clair Loughrey from Grafton Recruitment. For further information on how to apply for a position with OneSource Virtual please visit www.onesourcevirtualjobs.com

AN EYE FOR DETAIL

D

avid Hanna from car detailing company 50cal Detailing shows Neil Gilmore, Business Manager at Danske Bank, how his firm’s high end detailing product puts the shine on a brand new £250K customised Ferrari. Having spent eighteen months developing the brand, creating a state of the art website and investing in the manufacture of £300,000 of stock, the

company is now distributing its range of products from its base in Belfast.

The company only began trading in May 2014 but has already built strong distribution links across the world. It is due to begin exporting to countries such as Brazil, Korea, Australia, Sweden, Belgium, Denmark and Italy before the end of 2015, assisted by an invoice financing facility with Danske Bank.

CRAFT BREWERY WINS TOP INTERNATIONAL AWARD

A VERY SPECIAL BOTTLE

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ichael Patterson, Bar Manager, The Merchant Hotel, Belfast and David Kennedy, Dillon Bass receiving delivery of the first bottle of the coveted limited edition Hennessy 250 Collector Blend at The Merchant Hotel.

The arrival of the special bottle of cognac this week is part of the local celebrations to mark the 250th anniversary of the brand. The distinctive decanter style bottle is one of only 18 that will be available in Northern Ireland and 60,000 in the world.

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iall McMullan, international drinks industry veteran and creator of Yardsman lager celebrates as the small batch brew wins a Gold Medal at the 54th Monde Selection International quality awards.

The awards, which were designed to measure and assess with complete objectivity, the quality of products from 224 companies across the world, presented the accolade to Yardsman

lager at the recent awards in Lisbon.

One of only two companies in Ireland to receive the prestigious award, Yardsman lager is a unique offering in the craft beer market. With a brewing process that is a nod to its rich Belfast heritage, locally sourced products including Irish lager malt and Belfast water are filtered through Irish linen, allowing the lager to mature for a six week period and create its award winning taste.

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Eye on News

LIDL COMMUNITY WORKS ANNOUNCES 32 PROJECTS Lidl Northern Ireland has announced the 32 local community groups it will support through its ‘Community Works’ campaign.

T

he campaign, which launched in June this year, received over 2000 nominations for community groups and projects from right across the province which were deserving of a visit from the Lidl community crew.

The ‘Lidl Community Works’ initiative follows the success of the ‘Lidl Surprises’ campaign in 2014 which saw Lidl deliver random acts of kindness to community groups in Northern Ireland and this year proves

to be even bigger, with an investment from Lidl of over £200,000.

“We have been overwhelmed by the number of nominations we received as part of this campaign and are thrilled to be able to substantially back 32 of them to show our commitment to the community” explains Glen Cinnamon, Regional Director at Lidl Northern Ireland.

“It has opened our eyes to the hundreds of fantastic groups working tirelessly in our

communities, sometimes with very little support, and this is our way of giving something back to those who have supported us since we opened our first store in 1999.”

The judging panel comprised of well-known faces, including international rugby player Rory Best,

community worker and Spirit of NI winner Carol Doey, broadcaster Pamela Ballantine, chef and Lidl ambassador Ian Orr and TV presenter and model Zoe Salmon, who were responsible for selecting the final 32.

LONG LIVE THE PUBLISHERS...

Are magazine publishers a dying breed....?

N

ot according to the three married couples pictured above, all of them long-term players in the world of publishing here in Northern Ireland.

And clearly business rivalry isn’t something that gets in the way of a spot of camaraderie.

The six publishers in question were captured enjoying some Belfast summer sunshine on board the Sorlandet, a Norwegian classic sailing vessel and one of the Tall Ships visiting the city in early July. The vessel had been

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chartered by the event main sponsors, Lidl, for an evening media reception.

From left, the group is made up of Bill & Wyn Penton, the pair behind Penton Publications (publishers of Wedding Journal, Licenced & Catering News, Go & the NI Visitors Journal amongst others), James & Gladys Greer of Greer Publications (Ulster Business, Ulster Grocer, Specify, Northern Woman et al) and Business Eye’s very own Richard & Brenda Buckley.

What is it about married couples and magazine publishing.......??

A FAMILY OCCASION FOR GERRY MALLON

I

t was good to see that Danske Bank CEO Gerry Mallon turned his recent Honorary Doctorate presentation into a family affair.

Gerry is pictured with his wife and family outside the University

of Ulster where he received a Doctor of Science degree (D Sc) in recognition of his services to the university. He has served as Pro-Chancellor and Chairman of the Council of the University.

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Eye on Giving

CONOR HOUSTON LAWYER AND STEERING TEAM MEMBER OF YOUNG INFLUENCERS What are your thoughts, in general, to charitable giving?

I have always been a big supporter of charities - at home my parents always encouraged us from a young age to fundraise and give time for charities through school and youth clubs. My mother has been a campaigner and volunteer for charities throughout her life. In business, my dad always promoted doing good deeds in the local community.

Is your giving personal or corporate or both?

It has been both - often I have used my personal connection with a charity to persuade corporate giving.

How do you give to charity: monetarily, your own time as a volunteer or your own specialist skills?

It’s a mixture of all of these! I give a fixed amount each month to two charities based in Northern Ireland. I also support a number of events each year. As a young professional, I can give my time, energy and skills to charities and have done this by sitting on boards and providing pro bono advice to charities.

What type of causes do you favour and why?

I am interested in charities that transform childhoods. As a lawyer, I understand that providing every child with a safe childhood, in which they have opportunity, is an essential starting point in challenging many of the issues that exist within our society. Any charity which empowers

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young people or provides opportunity to young people interests me.

Are there any specific charities or causes that you give to regularly?

How do you choose which to support?

I support the work of the NSPCC in Northern Ireland as they are committed to transforming childhoods and offer cutting edge and bespoke services. For this reason, I also support HomeStart as my mother has been a volunteer with the charity for almost a decade and I have seen the positive impact it has in assisting families. I also give to my alma mater, Queen’s University Belfast and in particular the new School of Law - I am so fortunate to have had so many opportunities as a result of my time there, so it’s important to ensure others have the same chance.

Do you believe that companies and individuals have a duty to help others? If yes, why?

Absolutely. Not only from a moral point of view, but a compassionate society that provides assistance and opportunity to those less fortunate can make a huge impact in terms of creating upward social opportunity, which economically benefits us all.

What is your message to business people who may be thinking about becoming more involved in strategic philanthropy?

Go for it! People feel good from helping others. It encourages teamwork and the synergy that can flow from supporting a charity cannot be underestimated.

Giving NI was set up last year to champion Philanthropy. Why do you think it is important that there is an organisation that helps businesses and individuals think more strategically about giving?

Firstly, we need to understand philanthropy is not just for millionaires. Giving NI is redefining philanthropy and trying to foster a culture of giving in NI - this is a really great thing. Whether it is a monthly donation, giving your time to a volunteer or providing pro bono services to charity - this is all philanthropy. It’s good to have an organisation thinking about this strategically and hopefully creating NI as a model for philanthropy around the world!

For more info re Young Influencers please visit www.younginfluencers.org or follow us on Facebook & Twitter

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Eye on Communications

Jonathan Rose, Ofcom’s Northern Ireland Director.

Smartphones Are The Talk Of The Town, Says Ofcom You can’t walk down the street these days without bumping into someone staring into their smartphone. They’re everywhere, prompting Ofcom to declare that we are now living in a ‘smartphone society’.

A

ccording to Ofcom, smartphones are now in the pockets of nearly two thirds (63%) of Northern Ireland adults, up from 21% in 2011. Moreover, smartphones have now overtaken the laptop as the preferred way for internet users to get online.

The findings are revealed in Ofcom’s Communications Market Report for Northern Ireland The report has a wealth of information about the sectors Ofcom regulates - from TV and radio through to telecoms and post - but this year the strongest news angle revolves around the rapid growth in smartphone ownership and how this is changing not just how we go online, but what we do online.

Some 37% of Northern Ireland internet users say their

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smartphone is the most important device for staying connected, compared to 26% who are sticking with their laptop.

People are increasingly relying on their smartphones to get around, check the weather, update social media and capture memorable moments. In the process, they are racking up nearly two hours (1 hour and 54 minutes) on these devices every day.

Jonathan Rose, Ofcom Northern Ireland Director, said: “Northern Ireland is becoming a nation of smartphone users and the continued expansion of 4G services should mean further growth in the year ahead, as consumers take advantage of new features and apps that exploit the increased speed offered by this technology.

“But not everyone has access to good broadband and mobile coverage. Ofcom wants to see the widest possible availability of communications services and is considering what further options might be available to improve coverage, both mobile and fixedline broadband, as part of its Digital Communications Review.”

Elsewhere, Ofcom’s Communications Market Report reveals another rise in tablet ownership in Northern Ireland. Fifty-four per cent of households now have one of these, up from just 2% in 2011.

Linked to the rise in smartphone and tablet ownership, there has also been a marked increase in the amount of time people in Northern Ireland spend online, up from 13 hours

and 48 mins a week to 21 hours and 36 minutes a week. This is above the UK average and highest of the four UK nations.

Looking at the infrastructure used to deliver these services, the report shows that 77% of premises in Northern Ireland have access to superfast broadband services (>30Mbits/s), which is higher than Scotland but lower than Wales and England.

However, broadband take-up in Northern Ireland is below the UK average, with 72% of homes having a broadband connection (fixed and mobile) compared to 80% for the UK as a whole.

Meanwhile, latest figures show 4G mobile coverage from at least one operator was available to 91.1% of premises in Northern Ireland in May 2015. This was the second highest of the UK nations, behind England.

Continuing the online theme, Ofcom’s research highlights how technology is influencing how people communicate. Some 57% of internet users in Northern Ireland say that these new communications methods have made life easier, but 20% say they spend too much time online.

Facebook remains the most popular social networking website with 65% of adults saying they have used the site, followed by Whatsapp (40%) and Twitter (33%). Nearly a quarter of adults (23%) admit to being “hooked” on social media.

Despite the rise in online activity, traditional media remains popular. Ofcom’s research shows that TV is still by far the most important source of news in Northern Ireland, followed by radio and newspapers.

And while people are watching marginally less TV, demand for paid-for television services through satellite, cable and other platforms is still high.

More than 70% of households in Northern Ireland subscribe to a pay TV service, higher than every other UK nation.

Ofcom’s Communications Market Report can be found online at www.ofcom.org.uk

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Eye on Technology

Six Steps To Improving Your Business Efficiency I have the advantage of meeting many different SME’s in a variety of different industries. Unsurprisingly, the more SME’s I meet up with, the clearer the similarities in business operations become. Below are six suggestions I would propose to help improve business efficiency that everyone can put into practice: Re-evaluate your business process systems – have you outgrown your current business system?

Have you ever felt that you are outgrowing your current business systems, or are you still using spreadsheets to manage your reporting and business processes?

You may even find that your current processes are working for now, but have you considered what will happen as you grow? A spreadsheet might be fine for 2 or 3 people in a department but as you reach 5 to 10+ in the same accounts office it becomes inefficient. The ‘spreadsheet problem’ has had a lot of discussion amongst SME’s. Without a doubt the most common issues I hear are a result of bad quality, out of date, data. The manual updating of data in spreadsheets has often led to: duplicate copies stored on individual machines, inaccurate and doctored information (to boost activity figures) and reports built to paint a rosy (not accurate) picture. Plus most reports built on spreadsheet formulas have become stale, especially as current processes are outgrown.

Bring customer and business information sources into one place.

Storing all of your information in one place will help you to collate one piece of accurate information in

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seconds. For example, imagine trying to build a marketing list based on customers who purchased product X from you 12 months ago (you would need that from accounts), filtering your data to create a good list (information stored by marketing or sales), and then passing leads to your sales team (probably another list of active leads). That is a lot of running around for one task, that could be easily avoided if all stored in one centralised database.

Connect your accounts system with customer information to avoid re-keying and lessen the admin headache.

Undoubtedly the most up-to-date customer information you have is stored in your accounts system.

Plus it’s usually the most valuable.

Individual customer information such as, special pricing, credit limits and invoicing details will help you give your customers the personal experience they crave. This customer information (such as customer purchasing history) can then be used to increase sales and relevant communications. The time taken to rekey information into multiple systems is considerable and has room for human error. Linking your systems so they update each other will easily save you time and lessen the admin mistakes, altogether making you more efficient.

Trevor Bingham

Keep track of your potential customers.

Sales teams are known for avoiding as much admin as possible. They want the quickest and easiest way to hit target, which in truth is what management want too. However, without a simple way of monitoring your pipeline some potential opportunities may slip through unnoticed. It is important to keep track of your potential customers buying process and understand what information has been sent at each stage. This means informed decisions can be made at the point of close. Holding this all in one place will make it easy to update and keep track of potential business.

sales. To successfully sell online in the B2B world, you will need to provide customers with relevant information (such as special pricing, credit limits and stock availability) all of which is stored in your back office accounts.

Link your accounts information to your website and you can provide up-todate information online with orders confirmed straight into your accounts removing the need for rekeying.

Your current processes might be fine for now, but if you’re starting to notice any of the above, or it sounds familiar, fine is not going to be fine for much longer!

Enhance sales force professionalism by having relevant information to hand wherever they are.

Empowering your employees with key information will only enhance their performance and your company’s reputation. Accessing customer specific information while on site could be the difference between closing a sale, renewing a contract or losing the opportunity. More accessibility can even give employees the ability to process orders remotely, increasing productivity whilst on the road.

Look into the possibility of a fully integrated online sales channel.

The last 18 months has seen a massive increase in online activity, in particular “Business to Business” (B2B) online

Contact: Trevor Bingham, FUEL High Performance IT E: editorial@itfuel.com

Eye on Internet

Do We Really Believe In User Experience?

By Gareth Dunlop, Fathom.

The great chasm remains between the popularity of the term UX and the quality of websites we endure on a daily basis. How can it be that many agencies evangelize UX as part of their pitch yet the standard of websites remains so, well, so so? I wonder if we don’t believe in experience-design as much as we claim. Or perhaps we only believe in it to the point where it doesn’t suit us to believe in it any more.

C

harles Blondin was born in France in 1824 and after exhibiting an extraordinary skill for balance as an infant, was sent at the age of five to Lyon’s École de Gymnase to hone his acrobatic skills. After just six months training he made his acrobatic debut as “the boy wonder” specialising in acrobatics and tightrope walking and according to Encyclopedia Britannica he quickly become hugely popular in his native France.

Aged thirty he travelled to the States and quickly started to perform in New York, when the idea struck him to tightrope walk the 350m across the Niagara Falls. This became a feat he completed many times and with every conceivable permutation; blindfolded, in a sack, trundling a wheelbarrow, on stilts and eventually carrying his manager on his back and stopping halfway and eating a meal. The crowds would go wild for him and he repaid them richly by embarking on more and more dangerous variations on the already pretty treacherous theme.

His popularity was such that for a period of time he was to tightrope walking what Hoover is to vacuum cleaning; he owned to the word.

Anyone involved in the profession was simply referred to as a “Blondin”.

As he finished each crossing and got back onto terra firma, the crowd would go wild for him, chanting his name “Blondin, Blondin, Blondin!” Occasionally in response Chevalier Blondin would tease them by asking who in the crowd wanted to make the return trip on his back on in the wheelbarrow.

Blondin understood that there was a difference between the crowd believing he could do it and the crowd *believing* he could do it.

As a user experience professional I observe that there is a difference between businesses believing experience design can improve their bottom line and *believing* experience design can improve their bottom line.

It seems that it is easy to buy into it when the principles are conceptual.

Stakeholder engagement? Check.

User surveying and testing? Check.

Customer journey planning? Check.

Content strategy and desired outcomes?

Check. Wire-framing, creative design, interaction design? Check. Submitting to the resultant evidence to make informed user-driven design decisions? [ Sound of tyres screeching to a halt / needle scratching across the record / cartoon character looking down after running off the end of the cliff. ] It seems that the theory is straightforward, and research achievable with good project planning, but the implementation not-so-easy as it means not having our own way. We have to give up that little feature, or content, or page element that we liked.

It might be a focus on our division’s product or service, a beloved carousel, a design expectation, an embedded Twitter feed, adding “something that moves”, including unnecessary content that we like, or any number of completely arbitrary design decisions.

One of the reasons that we ask our clients to buy into process at the start

of our projects is because we can’t know where the evidence might lead us, and we must leave our expectations and biases at the door if we are to truly serve the user.

It feels counter-intuitive to cede control of our website experience to our users, but when you think about why they visit our website in the first place, it’s impossible to imagine designing it any other way.

So, who’s getting into the wheelbarrow?

Gareth Dunlop owns and runs Fathom, a user-experience consultancy which helps ambitious organisations get the most from their website and internet marketing by viewing the world from the perspective of their customers.

Specialist areas include user-testing, usability and customer journey planning, web accessibility and integrated online marketing. Clients include Three, Tesco Mobile, PSNI, Permanent TSB and PropertyNews.com.

Visit Fathom online at fathom.pro.

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Eye on Moving On

Hastings Hotels has made three key appointments. At the Culloden Estate & Spa, 1 Laura West becomes Senior Events Manager.

Laura has 19 years’ experience in the sales and marketing industry and previously held positions with The Old Inn Crawfordsburn and Park Plaza Belfast International Airport. Also 2 at the Culloden, Victoria Parks is appointed as Banquet Manager. She joins from sister establishment the Stormont Hotel where she was Conference & Banqueting Manager. At 3 the Slieve Donard Hotel, Niall Burns becomes Bar Manager. He joined Hastings Hotels in 2011 and has been Food and Beverage Manager of the Hastings Everglades Hotel.

1 Laura West

2 Victoria Parks

3 Niall Burns

4 Janet Fairlie-Vogt joins the Eakin Group as Commercial Director. Janet has held senior commercial leadership roles in multiple global locations for companies including Hasbro and Mood Media and most recently for Ansell Healthcare as Vice-President of EMEA, Sexual Wellness division.

5 Christine McClune has been appointed Accounts and Marketing Manager at Gauge NI (part of NOW Group). Christine has seven years marketing experience gained in both the private and voluntary sector. She will be responsible for Gauge NI’s marketing activity and working with clients to help them understand, measure and communicate their organisation’s social impact.

4 Janet Fairlie-Vogt

5 Christine McClune

6 Barry Carroll

6 Barry Carroll has been appointed as a non-executive director to the board of Pale Blue Dot, a creative agency based in Belfast. Barry has over 27 years’ industry experience, the last seven of which were as CEO of Augentius, the world’s largest independent Private Equity fund administration services company, the firm he founded.

7 Kirsty Scott has recently joined Cleaver Fulton Rankin as a paralegal in the Property Department.

Having completed her degree at Queen’s University Kirsty completed the Legal Practice Course with Commendation in Chester and has since worked in law firms in England and Northern Ireland for over 4 years. At Cleaver Fulton Rankin, she is responsible for facilitating the completion of both residential sales and purchases. Kirsty has experience of acting for the purchaser at auction and acting for both the mortgagor and lender simultaneously.

7 Kirsty Scott

8 Alan McVey

9 Gavin McEvoy

Ward Solutions, Ireland’s leading information 8 security provider, has appointed Alan McVey as business development manager, Northern Ireland. Alan brings with him more than 25 years’ experience in sales and account management across a number of industries. Before joining Ward Solutions, he held the position of business development manager at Northern Ireland-based Iron Mountain Records, a leading provider of storage and information management services.

Residential property specialist Move Made has announced four key appointments.

9 Gavin McEvoy has been appointed as a Director of Move Made. Gavin has over twelve years’ experience in residential sales and lettings, along with extensive experience in planning and development.

10 Dermot O Hanlon

11 Emma Greenaway

10 Joining him as a Director is Dermot O Hanlon.

He has extensive local market knowledge, having been actively involved in the residential sales market for twelve years and has significant experience in planning, as well as sales and letting.

11 Emma Greenaway has joined Move Made as a sales negotiator, with over five years of experience in sales and letting. She will be responsible for meeting new clients and conducting sales valuations and viewings for properties.

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Eye on Moving On

12 Laura Cairns has joined Move Made as a senior manager, with over five years’ experience from working at sister company Quicklet. Laura has seven years’ experience in the Northern Ireland residential property market and will be in charge of overseeing the day to day operations of the company.

12 Laura Cairns

13 Philip Murray

14 Paul Lemon

13 Philip Murray has been promoted to the position of director of technology for Equiniti in Northern Ireland. Philip joined Equiniti in 2001. In his new role he will be responsible for the delivery of all technology projects with the Belfast office.

He previously held the position of IT manager with Ulster Weavers for five years before his 14 appointment with Equiniti. Also at Equiniti, Paul Lemon has been promoted to the position of director of sales and business development. He previously worked with literacy software provider TextHelp and held the position of sales manager 15 for Ireland with Virgin Media Business. And Colin McMahon becomes director of operations. He has worked with Equiniti for five years. Colin previously managed a 200 employee-strong contact centre and complaints team for Barclays Wealth.

16 Ashleigh Baird joins the New Product Development team at Willowbrook Foods in Killinchy, Co., Down, as an NPD Technologist.

Having previously worked in the NPD department at TS Foods, Ashleigh brings an in-depth knowledge of product development, market trends and customer relations.

15 Colin McMahon

16 Ashleigh Baird

17 Alison Littley

Eakin Healthcare Group has announced the 17 appointment of Alison Littley as its new Chairman and Non-Executive Director. She has held executive director positions with a number of high profile companies including Diageo PLC as Marketing Procurement Director and Mars Ltd as Commercial Director. She is a former Chief Executive and Chairman of Buying Solutions, an executive agency of HM Treasury. Alison also currently holds a number of non-executive directorships across a range of enterprises including James Hardie Industry plc, a world leader in manufacturing fibre board cement building products and Weightmans LLP, a top 50 UK law firm.

18 David Fry joins the Construction Employers Federation in NI has Federation Manager.

He has a background in policy and public affairs, and was previously Senior Policy Adviser at CBI Northern Ireland.

18 David Fry

19 Sara Lyons

20 Roisin Gilmartin

19 Sara Lyons has been appointed to the role of Project and Client Relationship Manager with Core Systems. She will manage projects and key accounts to ensure customers’ expectations are met and to promote the growth of the business. Sara has 7 years export sales and account management experience in the private sector and a further 2 years’ experience in the public sector working on the implementation of large scale projects.

20 Roisin Gilmartin has been appointed as Project Manager with Core Systems. She will review the company’s internal processes, initially taking the lead in ongoing Innovation Projects amongst other internal projects. Roisin bring with her 10 years’ experience working in an IT environment, liaising between the Client Support, Development and Business Development Departments to deliver Software Solutions to private and public sector companies.

Eye on Food and Drink

Spirited Revival In Drinks World Sam Butler looks at the emergence of premium spirits in Northern Ireland from small batch distilleries and talked to some of the entrepreneurs behind them.

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orthern Ireland drinks industry has seen some spirited arrivals over the past year, the most recent being the launch of Ruby Blue Potato Vodka by Hughes Craft Distillery in Lisburn, a new spirit already on sale at Dublin International Airport and on the Ocado retail website.

Ruby Blue Vodka follows the equally successful launch last year of Shortcross Gin by Rademon Craft Distillery in Crossgar and the revival of the historic Dunville Irish Whiskey brand by Echlinville Distillery in the tiny village of Kircubbin, home of Shane Braniff, the entrepreneur behind the project.

Braniff, of course, has enjoyed success with the quirky Feckin’ brand using whiskey sourced from a supplier in the Republic. He’s currently maturing the first whiskey distilled on site and plans a single malt for export, The Echlinville. Braniff’s Dunville VR whiskey recently won endorsement in the shape of a major award in an international whiskey competition.

Dunville VR, once a market leader

Shane Braniff has successfully revived the old Dunville VR brand.

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in the early decades of the 20th century, was chosen as the Best Irish Single Malt under 12 and 15 years.

Dunville VR was acclaimed as having “fresh green apples on the nose, with some green grass and tropical chews. Softer and sweeter on the palate, with bubblegum, apple Jolly Ranchers and some spiced custard”.

The whiskey, relaunched earlier this year after over 80 years out of production, also had “complex citrus notes with a little confected sweetness. Sweet tropical fruit up front with a winey finish like a dry Riesling, leading to integrated wood”. Production ceased when the distillery producing it closed in 1936.

Braniff says: “We are delighted to have won this important award. It’s the first time we entered the awards.

The success will be immensely important as we seek to grow sales of Dunville VR. It re-establishes the pedigree of this historic whiskey.”

There was a time when Old Bushmills in Co Antrim was our only working distillery, a status held since the mid 1930s when drinks business such as the Royal Irish Distillery in Belfast closed in the wake of Prohibition in the US, once the biggest market for Irish whiskey. Today, in addition to Echlinville, three other whiskey distilleries are either already underway or being planned. Planning approval has also been agreed for a whiskey project in Portaferry.

Belfast Distillery Company (BDC) is converting a wing at the historic Crumlin Road gaol and is selling Danny Boy and Titanic brands using whiskey bought from another distiller. BDC is also planning to rejuvenate another old Belfast ‘sipping’ whiskey, McConnells.

In Londonderry, Niche Drinks, long a specialist in Irish cream liqueurs including St Brendan’s, aims to build a state-of-the art distllery at Campsie.

But much of the interest locally has been created in the white spirits category by Shortcross Gin and Ruby Blue Vodka. Both have been developed by husband and wife teams - David and Fiona Boyd-Armstrong at Rademon

Stuart and Barbara Hughes, the entrepreneurs behind the new RubyBlue premium vodka.

and Stuart and Barbara Hughes at Ruby Blue. There’s even talk of a rum business being planned in Co. Down.

Since overtaking whisky in 2007, vodka has been the No 1 spirit in the UK, with 108 million bottles a year sold and sales estimated at £2.2 billion in tough economic conditions. This market is being driven increasingly by premium vodkas like Ruby Blue.

The Hughes are better known as the couple behind Boozeberries, the unique blend of berries and grain spirit. What they’ve set out to do is the create a strong contender in the dynamic premium vodka market.

“We’ve used our longstanding experience in distilling our very successful range of RubyBlue berry liqueurs to create a distinctive potato vodka. It made sense to us to take potatoes, so long a dietary staple in Ireland, to handcraft small batch vodka that offers super-premium quality with a unique flavour,” Barbara Hughes says.

“We are leveraging the successful RubyBlue brand from our award winning range of existing spirits to create awareness of the new vodka and drive sales particularly outside Northern Ireland. Our liqueurs, previously known as Boozeberries,

are already selling in key markets such as Europe, Scandinavia, the Middle East, Turkey and Australia.

This provides a network to help in developing the vodka business.”

What RubyBlue Vodka and Shortcross Gin have in common is that both can be enjoyed ‘neat’ or with mixers or as the key ingredient in a range of cocktails.

The major challenge facing the local whiskey distilleries in the extent of competition currently developing on the island of Ireland. Over 20 small scale distilleries are planned in an industry dominated by Jameson. Another startup launched by John Teeling, once the owner of Cooley at Carlingford and popular brands like Kilbeggan is now making a significant impact in the US with his own whiskies.

The key factor in rise of new whiskey distilleries is the rapid growth of the category which is expected to continue. Between 2009-2014 Irish whiskey grew by 10 per cent and was driven by Jameson, which accounted for 70 per cent of all Irish whiskey growth globally, particularly among younger consumers in the US. The spirit, once virtually dormant here - apart from Bushmills - has become a vibrant and innovation-driven sector.

Eye on Agri Food

Buttering Up Britain’s Top Chefs Sam Butler talked to Will Abernethy at Abernethy Butter about the small dairy company’s growing success in Britain.

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romora’s Abernethy Butter has become one of the best-known artisan products in Britain especially among chef and restaurateurs.

Andy McFadden, head chef at Michelinstarred L’Autre Pied restaurant in London, most recently described the hand-churned butter as “amazing”.

McFadden joins Heston Blumenthal, Marcus Wareing and BBC Saturday Kitchen stalwart James Martin in endorsing the quality of the hand-washed, hand-churned, hand-patted and hand-rolled butter from husband and wife team Will and Allison Abernethy. It’s also listed by Fortnum and Mason, renowned as the ‘Queen’s grocer’ and dozens of delis across the UK. McFadden says the butter was recommended to him a couple of years ago by a chef working for Marcus Wareing who came to eat in the restaurant. “Our bread’s a big deal to us, and he said if we wanted to take it to the next level we had got to serve the best butter with it. I thought the butter we had was really good but this is totally different. It tastes amazing,” he adds.

The butter they craft from a grass-fed dairy herd in Lagan Valley has won widespread acclaim in Britain and attracted more media coverage than probably any other Northern Irish product in recent years. It’s been runnerup in the prestigious BBC Food and Farming Awards – the first Northern Ireland company to receive sufficient public nominations to reach the final - gained a clutch of Great Taste Awards from the influential UK Guild of Fine Food, graced the pages of high-end newspapers like The Guardian, Daily Telegraph, Times and Sunday Times, and been covered on BBC, ITV and Sky. In addition, the artisan business was selected last year as one of the top 50 ‘food stars’ from across the UK by the Department of the Environment, Food and Rural Affairs (DEFRA). It was the sole Northern Ireland

business selected by DEFRA for the special programme to encourage even faster growth.

Leading British food writer Anna Blewett recently praised the butter in Great British Food magazine, writing: “The very yellow rolls, speckled with salt crystals that slightly ooze moisture, are hard and brittle, the face crumpling as the knife shears off a slice. It tastes divine: a strong first hit of salt is followed by an incredibly creamy, sweet taste, and a clean finish.” It’s also won praise from other major food writers such as Sue Quinn in The Telegraph.

As a result of such support, the couple are now hot property on the UK food scene and are helping to raise the level of awareness in Britain about the innovation and quality underpinning artisan products in Northern Ireland. About 200 delis across the UK also stock the unique butter. It’s a really impressive track record of achievement for a business that started life as a hobby to revive a tradition of farm kitchen butter making techniques. It currently has three employees.

“It’s been a remarkable journey so far, says Allison, who gave up a post in nursing to work full time in the business with Will, a sheep farmer. “It’s hard work but we’ve enjoyed every minute of it and have plans to ensure the continued growth of the business at a time when the dairy industry is in such global turmoil.

”A key factor in our success is tight control over costs. Much of our marketing, for instance, is carried out using social media. We’ve used twitter very effectively to approach top chefs.”

Peter Hannan of Hannan Meats is a tremendous supporter and mentor who has also introduced the butter to chefs in Britain, France and Portugal.

“We’ve always endeavoured to do as much as possible ourselves and also to look at ways to expand our product range through innovation,” she adds. This approach has led to the development of a butter fudge; brandy sauce at Christmas; and the launch a hand-smoked smoked butter and a dulse and sea salt flavoured product.

“We have deliberately chosen unusual flavours to give our customers something different to the usual flavoured butters that they find on the supermarket shelves. We chose dulse because it’s another iconic Northern Ireland product and one which is being seen increasingly as having health benefits,” she says.

They have also expanded into bigger premises, which is enabled them to ramp up production to one and a half tonnes of butter a month, around 700 rolls of butter per day. The butter continues to be a natural product. They continue to produce it by hand with just a touch of salt.

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Eye on News

NEWRY BUSINESS AWARDS ENTRIES OPEN

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ewarding Excellence was the theme at the launch of the Greater Newry Area Business Awards 2015 on the 29th June in the Canal Court Hotel. This prestigious biennial business awards competition was officially launched by Cllr Naomi Bailie, Chairperson of Newry Mourne & Down District Council, President Deborah Loughran, Newry Chamber of

Commerce and joint principal sponsors Francis Kelly, B/E Aerospace and Eimear McArdle, Canal Court Hotel & Spa. With 19 award categories to choose from there is plenty of options open for all businesses within the greater Newry area to enter one or more categories.

Deadline for entry is 12noon, 7th August. Enter online: www.newrybusinessawards.com

WATERFRONT GEARS UP FOR THE FUTURE Belfast Waterfront has appointed five more staff to meet the increasing demand for its new world class conference facility opening in Spring 2016.

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oubling the venue’s event space to 7,000m2 and enhancing its technology capabilities has facilitated the return of many events as well as seen a significant increase of bookings from international associations. Even before Belfast Waterfront opens the doors to the new facility, it has already secured 50 conferences for 2016 to 2021, which will bring over 43,000 delegates to the city, generating a welcome 94,000 delegate days.

To ensure the growing demand for the new centre is met and additional opportunities are fully realised, its sales and marketing team has almost doubled in size.

Susie McCullough joins the team from Tourism Northern Ireland, bringing a wealth of experience and invaluable knowledge to her new role as Director of Sales and Marketing. Susie will oversee all commercial activities to drive business growth and increase market share. As part of this, she will lead a team of 15, who collectively boast over 150 years in the events industry and have a proven track record in managing and winning prestigious events.

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Susie McCullough (Director of Sales and Marketing at Belfast Waterfront Conference and Exhibition Centre) comments: `This is a very exciting time to be heading up the sales and marketing team at Belfast Waterfront, especially in the run up to the opening of its new world class conference facility in Spring 2016. Today Belfast is one of Europe`s dynamic business destinations, and with the addition of a 7,000m2 high tech conference centre, we will see many more associations and business leaders choose the venue to showcase their achievements on a world stage. Awe inspiring flexible spaces, stunning riverside views and delicious cuisine create the perfect event space for individuals to connect with like-minded colleagues plus share valuable experiences and knowledge with peers.”

Indeed the expansion programme will significantly increase the centre’s capability to host major national and international conferences. Going forward the team will focus on

(From left to right): Susie McCullough (Director of Sales and Marketing), Lisa Turkington (Digital Marketing Executive), Kim Keightley (Exhibition and Business Sales Executive), Peter McCartney and Aoife Glenn (GB and International Conference Sales Executives).

driving growth in these markets as well as corporate business.

The recruitment of Aoife Glenn and Peter McCartney, as GB and International Conference Sales Executives, will further strengthen relations with an expanding international clientele.

Whilst Kim Keightley, Exhibition and Business Sales Executive, is gearing up to sell 2,500m2 clear span space perfect for gala dinners and elaborate corporate events plus meeting rooms accommodating up to 200 delegates to local and national businesses.

Key to supporting the centres` overall goals will be Lisa Turkington, the newly appointed Digital Marketing Executive

responsible for devising multichannel marketing strategies that will amplify the brand on an international level.

The new recruits have hit the ground running, with Lisa pushing ahead with redesigning and reenergising the centre`s online presence. And out on the front line, Kim represented Belfast Waterfront recently at a UK Corporate Roadshow, revealing plans of the new conference centre to key customers during 3 days of nonstop events. Likewise Aoife is showcasing the latest 3d extension flythrough at the Meetings Show, this week.

Eye on Agri

Ballycastle Seaweed Skincare Company Opens New Retail Outlet Following a successful pitch on RTE’s Dragons’ Den last year, County Antrim company Caraderm Skincare continues to go from strength to strength.

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he company has increased its range of 100% natural and sustainably sourced seaweed skincare products and this week (ending Friday July 10) sees the opening of its new retail outlet in Ballycastle.

The main ingredient of the Caraderm range is Carrageen Moss, also known as Irish Moss, a seaweed which grows in great abundance along the rugged Atlantic coastline.

The natural moisturising properties of Caraderm’s seaweed based products soothe and cool summer stings, scratches and sunburn offering relief from itching and inflammation and a calming effect on the symptoms of acne, eczema and psoriasis.

Carrageen Moss is well known for its anti-inflammatory and anti-viral properties and is rich in nourishing vitamins and minerals.

Since Caraderm launched its original Seaweed Serum two years ago, the product range has grown steadily and today it includes a shampoo and body wash, bath soak, seaweed bath pouch and shaving foam.

The latest product to hit the shelves is Basalt Black, a soothing aftershave balm will be available from this week in the company’s new retail outlet in Ballycastle in the Rathlin Island ferry terminal building.

Caraderm Seaweed Skincare is the brainchild of Liam McBride who takes up the story.

“I was born and raised in Ballycastle so always had a great affinity with the sea. From a very early age, I always wanted to find a way to live and work locally off the shore.”

Like most pipe dreams though, Liam’s took a while to come to fruition. He emigrated and worked in Australia and New Zealand for a number of years before returning home to Ballycastle.

While ‘Down Under’ though, he acquired some new skills which he was able to put to good use on his return.

“When I came back, I built a brick pizza oven and started practicing firing out hot pizzas. It seemed to work well so I set up a pizza delivery business in the town.”

While the pizza business was getting established, Liam’s plans to live and work off the shore had to take a back seat.

Then, a few years ago, a friend of Liam’s mother introduced him to a Carrageen Moss drink which she had claimed had helped ‘clear’ a bad throat.

Having grown up with stories about all the health benefits of seaweed, he decided to it a go himself.

“I started taking the Carrageen Moss drink and it cleared my chest

after giving up cigarettes. This got me thinking and I started doing some research and read up on all the claims about its benefits.

“I used a traditional recipe that had been handed down through our family to develop a seaweed serum which is very easily absorbed and leaves the skin feeling silky and smooth.

When I trialed it locally, the response was very encouraging,” he said.

Thanks to support from Invest NI, Liam got in touch with Bath based Cosmetic Technologist Barbara Olioso who helped develop his idea into a sustainable product with a proper shelf life.

“With the addition of honeysuckle flower extract and a few other natural extracts, we developed a 100% natural product that is odourless, tasteless and which works on all sorts of skin irritations. Customers have come back to us saying that they have used it after waxing, shaving or for treating burns, scalp irritations and chapped skin.

“We now have an affordable range of natural products and, with today’s focus on sustainability and increased awareness of the need to protect the environment; I feel that Caraderm Seaweed Skincare ticks a lot of boxes.”

Liam continued: “Carrageen Moss grows naturally; is harvested by hand and our traditional recipe uses 100 per cent natural ingredients to capture all the goodness of the clear pure waters of the Atlantic.

Last year, Liam made a pitch to potential investors on RTÉ’s Dragons’ Den and the product range caught the imagination of one of the Dragons, Derry born Peter Casey who is now based in Atlanta, Georgia.

Peter’s late mother, Patsy was a great advocate of the health giving properties of Carrageen Moss but while his heart ruled his head initially when he agreed to back the fledging business, Peter was also very impressed with Liam’s business acumen and success to date.

“There was a personal element in my decision. When we were growing up my mother had always proclaimed the benefits of Carrageen to us but I could also see great potential in the business.

The main ingredient grows naturally; it is available in great abundance; and is harvested sustainably. I felt Liam was passionate about the business and had shown tremendous initiative to get it to the stage it was at. Straight away we hit it off and I was ‘in’.”

Caraderm Seaweed Skincare products are stocked by pharmacies across Northern Ireland. They are available in Gordons, Medicare and McKeever’s, as well as in many independents. Caraderm Seaweed Skincare new retail outlet in the Rathlin Island Ferry Terminal Building opened on Wednesday July 8. The Caraderm range is listed by United Drug Sangers and the products are also available online at www.caradermskincare.com/shop

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Eye on Events

Go Power Stages Kingspan Launch Event Newly rebranded Go Power, formerly LCC Energy, has celebrated its sponsorship of Ulster Rugby by holding a reception for key clients and friends at the Kingspan Stadium for Ulster’s first home match of the season against Leinster.

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o Power, now part of the LCC Group, has built up a 30% share of the Northern Ireland business marketplace over recent months.

Long established as one of Northern Ireland’s most successful companies, LCC is at No. 17 in the latest Business Eye Profit 200 survey.

The Cookstown-based business has its roots in the solid and liquid fuel import industry, but is now active in gas and electricity provision as well as petrol forecourts all over the island of Ireland. The wider group now employs 250 people following the opening of a dedicated office in Belfast.

L-R: Michael Loughran, Shauna Forbes, Dermot Beattie, Laura Loughran, Daniel Loughran (All of Go Power)

L-R: Eugene Carson (Ardboe Coldstore), Sean Carson (Ardboe Coldstore), Lynn Barker (Go Power), Peter Robinson (Granville Food Care), John Robinson (Granville Food Care)Loughran (All of Go Power).

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L-R: George Cuthbert (Londonderry Port), Kenny Bradley (Kenny’s Spar Group), Michael Loughran (Go Power), Harry Harper, Brian McGrath (Londonderry Port).

Eye on Events

L-R: Michael Loughran (Go Power) and Kenny Bradley (Kenny’s Spar Group).

Daniel Loughran and Shauna Forbes of Go Power with Ulster & Ireland star Chris Henry.

L-R: Garry Quinn (Go Power) with Conleth McConville & Felicity McNiece (MJM).

Shauna Forbes & Lynn Barker (Go Power) with Ian Anderson (Anderson Cost Management).

L-R: Michael Loughran (Go Power), Chris O’Reilly (Musgrave Group), John McDade (McDade Foodstores).

L-R: Leo Strawbridge (Derry & Strabane District Council), Gary Sims (Fathom Energy & Environment), Denise Taggart (LCC Group), Michael Guerin (Medicare Pharmacy Group).

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AUTUMN at WWW.CASTLEKNOCKHOTEL.C O M

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Eye on Motoring

LESS SAVES MORE ON REVISED HONDA CR-V DIESEL Honda has honed its compact SUV’s business appeal with a new look, a fresh 1.6-litre diesel engine and sharper handling. This offers 120PS for the ‘cooking models’ with two-wheel drive and a solid 160PS for the all-wheel drive model.

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y test car had the higher output coupled to a new NINE-speed automatic gearbox. This combination gives useful if not exciting performance with 0-62mph in ten seconds and strong pulling power from low revs. With economy potential of 55mpg, emissions of 134g/ km and a 22% company car tax rate, it is more attractive than the previous 2.2-litre diesel auto.

Mind you this EX all-wheel drive model was at the high end of the price list at circa

£34k. This included full leather, a panoramic glass roof, keyless entry, electric driver seat adjustment and a power tailgate… Compare that to an Audi Q3 or a BMW X3 with similar spec and the tag seems less excessive!

For everyday business use you should check out the £23K starter diesel model with its six-speed manual gearbox and two-wheel drive. Okay, there is less kit and less power but the bottom line is impressive with 64mpg combined and

115g/km putting it in band c for company car tax.

The CR-V is more about practicality than glamour.

There is decent room for four adults and a useful boot which can be extended by folding the rear seat backs down flat. Chassis changes make it more responsive to the steering and it handles

well for a vehicle of this size.

There’s a seven-inch touchscreen and Garmin sat nav is an option on lower grade models. I found that pairing my phone with Bluetooth was fast and simple compared to other cars. A lot of technology is available including adaptive cruise control, active city braking and rear view camera.

as well as on. The X-mode all-wheel drive system, developed from rally technology, spreads the power in sticky conditions and includes hill descent control as on SUVs. The Outback comes in SE and Premium trims, both generously equipped, but the latter runs to sunroof, keyless entry, leather seats and that powered tailgate.

Prices start from £27,995.

Top automatic versions come with ‘EyeSight’, a system that stops the car if the driver seems to be ignoring an obstacle ahead.

Twin cameras mounted at the top of the windscreen monitor the road ahead and warn if you are getting too close to the vehicle in front or are drifting out of lane. Rival systems use radar to a similar effect but Subaru reckons that the cameras have an edge.

SUBARU OUTBACK RIDES TALL AND HAS GREAT ‘EYESIGHT’!

Doing things differently is a Subaru trademark.

They use low-slung ‘boxer’ engines that make for better handling as demonstrated by the rally success of their Impreza.

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his is the fifth generation of their flagship - the Outback is the estate version of their Legacy saloon.

It carries on the tradition of the grand estate car but with the bonus of off-road ability when you need it. Combining space with pace and practicality, this is impressive transport .

Two boxer engines are available - a 2.5-litre petrol with 175PS and a 2.0-litre turbo diesel with 150PS. The diesels come with six-speed manual or Lineartronic (CVT) two-pedal

transmission while the petrol comes with the latter automatic transmission for easy driving.

The diesel option will broaden the Outback’s appeal in these parts. It is quiet and refined and can move this big machine from rest to 62mph in a useful 9.4 seconds. Fuel consumption has been improved to 50.4mpg on the Combined Cycle and emissions have been reduced to 145g/km for the manual version.

With better ground clearance than most cars, the Outback can do justice to itself off-road

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For used VAT qualifying vehicles visit our website...

dfcbelfast.co.uk

Eye on Motoring

DFC: A Holistic Approach to Vehicle Management “ Over the past few months we at DFC have worked extremely hard in trying to cement our place as Northern Irelands leading vehicle Management Company. This has included new partnerships with experts in the motoring industry such as the RAC and TRACKER UK as well as the appointment of new staff members and enhanced funding from our business partners. With all these extra benefits in place we are now in the position to offer all our customers with a holistic approach and provide them with the total vehicle solution.”

Uel Butler, CEO

Added Benefits from DFC Industry experience and expertise: With over 25 years industry experience we are experts in providing motoring knowledge. All customers will be allocated a specialised Account Manager, ensuring your account is managed smoothly, efficiently and professionally.

Your Account Manager will provide you with honest, impartial advice, ensuring that you choose the right vehicle and the funding option that best meets your personal or business needs.

Purchasing/Funding Power: DFC and their business partners purchase over 50000 vehicles every year and as a result can offer some of the most competitive rates in the marketplace. Through major European Banking Partners DFC has access to competitive finance rates and the provision for unlimited funding. This gives companies the opportunity to use credit lines outside local business banking.

Dedicated Operations and Customer Care Department: • One call Operations Department We are unique in our industry by providing a one call operations department, 24 hours a day, 365 days a year. Our operations department is run by a highly experienced team, who are dedicated in providing

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the highest standard of service.

One number and more importantly one call is all you will ever need.

• Vehicle Maintenance Programme DFC can provide a maintenance programme as part of the deal where all aspects of maintenance is covered including; routine servicing, tyre and brake replacement, warranty issues, manufacture recalls and breakdowns.

We can also facilitate the provision of courtesy vehicles for routine servicing and breakdowns, to ensure that you are never off the road.

• Fleet Management Allow DFC to take away the hassle of managing your fleet, leaving you 100% to focus on running your core business. No matter what size of fleet you have we can take care of it. We will remove the risks associated with vehicle investment, improve efficiency, productivity and reduce the overall transportation and staff costs.

Holistic Approach: RAC Telematics, Breakdown Cover & Accident Management: Our recent partnership with the RAC allows all customers to avail of RAC Breakdown Cover, Accident Management and Telematics Premium Package as standard in all DFC vehicles.

This entails a fitment of DFC/RAC smart box unit and software set up, breakdown cover (fault and non-fault,) live diagnostics, accident management, GPS location and mileage recordings on all vehicles which is administered by DFC. Customers also have the ability to upgrade to the Premium Plus Package which includes full access to a customisable portal allowing vehicles to be monitored 24/7; illustrating routes taken, time on site, timesheets, mileage, driver behaviour and risk scoring, fuel efficiencies, geo-fencing and exceptional reporting – idling, speeding in speeding zones, braking and acceleration. A full suite of reports that gives Fleet Managers the data they require to make informed decisions.

TRACKER Stolen Vehicle Recovery: As a value added reseller DFC can now offer customers TRACKER, the market leader in stolen vehicle recovery. With over £11m worth of stolen vehicles recovered in Northern Ireland and nearly £500m in the UK, TRACKER’s proven technology is the only choice.

Insurance companies recognise TRACKER and its range of products and can offer discounts on premiums for having TRACKER fitted. Pauline Nelmes is our dedicated NI Sales Manager for TRACKER and has worked with their products for over 23 years.

Rental/Mini lease: DFC Rental provides a cost effective solution to keep you or your business moving. Delivering a wide choice of vehicle groups including light commercial vehicles you can choose a rental period anywhere between 1 to 12 months. This is a flexible, reliable and cost effective solution perfect for; new staff waiting on their company vehicle, covering a period in which a company car or van is off the road and offering a safer alternative to asking employees to make business trips in their own vehicles.

Vehicle Disposal & Used Vehicles: Through our remarketing department we can dispose of your old vehicle and release your capital. As well as assisting in the disposal of vehicles for companies and individuals we can also offer a variety of vat qualifying ex contract vehicles which can be purchased outright or on a variety of funding options to suit your business or personal needs.

For more information please call us on 028 9073 4222 or visit our website at www.dfcbelfast.co.uk

Supplying cars and vans to the business community

call us on 02890 734222

Example of Fully Maintained Vehicles at DFC ALL PRICES INCLUDE: • Fully maintained, including - routine servicing - 1 set of replacement tyre - road tax for contract duration - metallic paint - RAC Telematics - Breakdown Cover - Accident Management

BMW 3 Series Diesel Saloon 320d M Sport 4 door

BMW 3 Series Diesel Touring 320d M Sport 5 door

£299 + vat/month

£339 + vat/month

(6+23, 8k pa)

(6+23, 8k pa)

All makes and models to suit your individual and business driving needs. To find out about these or any more special offers please call us on 028 9073 4222 or email sales@dfcbelfast.co.uk

visit our website... dfcbelfast.co.uk

Local Company Local People Local Service

DFC is Northern Ireland’s only major independent locally owned Vehicle management company.

For 25 years DFC have supplied, funded and managed cars and vans.

We are confident we can provide a cost effective solution for your business or individual needs.

Call us today for more information on our car and van offers on 028 9073 4222 or email sales@dfcbelfast.co.uk

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Eye on Motoring

‘BABY’ JEEP IS A SURPRISING PACKAGE - AND FUN WITH IT! This eye-catcher is the new compact SUV from Jeep - based on the Fiat 500X but with some serious modifications. It comes with petrol or diesel engines and with or without all-wheel drive.

test and has electronic helpers such as lane departure warning and ‘trailer sway damping’!

The Renegade is all about looks and its image is sheer fun.

Just how practical it would be as business transport is debatable.

The 1.6 turbo diesel Limited model is pricey enough at almost £23k.

Whole Life Costs – 3 years / 60,000 miles1 C

B

A

New Corsa 1.3CDTi 95PS Design 5dr

B

Fiesta 1.6 TDCi 95PS Style ECOnetic 5dr

C

Polo 1.4 TDI 75PS SE 5dr

A

£21,032

Love to beat the competition Love the tiny whole life costs Love the huge spec Love award-winning New Corsa

roads. Keep a tight grip on the wheel if you are in a hurry but don’t expect much feedback.

The interior is fairly plain but has a functional appeal for this kind of vehicle. There is a touchscreen, heated seats, climate control and parking sensors.

It scored five stars on the crash

£21,009

friendly 120g/km putting it in the 20% company car tax band.

I took this unlikely machine on a 100-mile road trip and was pleasantly surprised at how well it coped both on motorway cruising and around the country bends. The engine was fairly subdued, though wind noise was noticeable at higher speeds.

Now it is not the most refined car to drive but then it is more of a work horse than anything else. It can wander a bit but is generally stable on bumpy

£19,319

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he top Trailhawk version has a 2.0-litre turbodiesel engine and permanent four-wheel drive with hill descent control for off road use. Or you can get a cheaper Limited model with a 1.6 diesel and two-wheel drive for road use.

If the looks fit your company image and you are staying on the tarmac this is the one to go for. It has a 1.6-litre turbo diesel engine said to return 61mpg on the combined cycle and with emissions of a reasonably tax

New Corsa Design vs Ford Fiesta Style vs VW Polo SE Specification

New Corsa

Fiesta

Polo

Heated windscreen





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Cruise control







Bluetooth







Digital radio







Touch-screen audio system







Front fog lights







LED daytime running lights







®

VAUXHALL FLEET

Call 0870 010 0651 | visit www.vauxhall.co.uk/fleet Official Government Test Environmental Data. Fuel consumption figures mpg (litres/100km) and CO2 emissions (g/km). New Corsa range: Urban 35.3(8.0)-83.1(3.4), Extra-urban 57.6 (4.9) – 94.2 (3.0), Combined 47.1 (6.0) – 91.1(3.1). CO2 emissions 139-82g/km.

Official EU-regulated test data are provided for comparison purposes and actual performance will depend on driving style, road conditions and other non-technical factors. 1 = Whole Life Costs (3 years/60,000 miles) based on independently supplied data by CAP (June 2015). All figures quoted correct at time of publication (July 2015). Images shown for illustrative purposes only and may feature options at extra cost.

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The new Caddy and new Transporter.

Coming soon.

Take a look at the sharper, more distinctive lines and you will see how we’ve perfected our vehicles over generations. Improved technology designed to enhance your driving experience, includes infotainment system with a 5-inch touchscreen, DAB radio and Bluetooth.Ž Added to that BlueMotion technology including start/stop now comes as standard, reducing your CO2 emissions and fuel costs.

For more information contact us or pop into our showroom.

r. e b m e t p n Se Arriving i Isaac Agnew Van Centre 2 Mallusk Way, Newtownabbey, Co Antrim.

Telephone: 028 9508 4006.

Find us on your sat-nav using BT36 4AA. www.agnewvans.com

Images are for illustrative purposes only. Vehicles shown may not be UK specification. Images may show options or features that are not available in the UK.