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FTSE 100

CHRISTINE SMITH Catering to the stars

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MARK WEEKS All hot and bothered Column - Page 4

An EXAMINER publication

KIRKLEES BUSINESS NEWS The business NEWSpaper for Kirklees

Expansion plan to create more jobs A VALVE company has embarked on an ambitious expansion plan which could see it double its workforce. Wentworth Valve Components Ltd, based at Lockwood, is purchasi n g a dd i t i o n a l p ro p e r t y, n ew machinery and equipment and increasing employment – including offering apprenticeships to school leavers. It follows the success of the firm – a specialist engineering sub-contract machinist – in landing a £100,000 grant from the Regional Growth Fund via Leeds City Region Local Enterprise Partnership to help implement its plans. The company aims to capitalise on a major upturn in the world valve industry, which is being fed by increased demand from the oil and gas sectors. The firm has acquired a disused building next to its existing Albert Works premises, which it is now busy refurbishing. In due course, it will move new equipment into the building. Wentworth also expects to double its workforce from 10 to about 20 over the next few years as it gears up to meet demand for its components. Martin Adams, managing director at Wentworth, said: “We are delighted to have secured this funding, which will undoubtedly help our business

in a range of sectors, including manufacturers across the city region and covers up to 20% of an individual capital investment in premises, relocation and purchase of new equipment and machinery. Mr Adams urged other Kirklees firms to seek funding under the scheme, saying: “We found the entire grant application a relatively straight forward process and would encourage other Kirklees based businesses to give it a go.” He also praised the support of individuals who backed the bid, including Colne Valley MP Jason McCartney, LLoyds Bank relationship director David Moore – who will continue to support the firm’s plans – Kirklees Council chief executive Adrian Lythgo, the council’s senior business development officer Ramesh Bains and Clr Peter McBride, ■ COMPONENT PARTS: Pictured in the building which is being Kirklees cabinet member for place. refurbished for Wentworth Valve Components Ltd are (from left) Malcolm Greenhalgh, of Wentworth; Colne Valley MP Jason McCartney; Wentworth Wentworth, based at Albert Street, managing director Martin Adams; Kirklees Council chief executive Adrian provides a complete machining serLythgo; Kirklees cabinet member Clr Peter McBride; council senior vice for the valve industry and supdevelopment manager Ramesh Bains; Phil Cole, of Leeds City Region LEP; plies precision-engineered and Dave Moore, of Lloyds TSB components for a range of leading manufacturers. Its products are used by clients in grow, enabling us to take on more assist business to invest and grow.” sectors including power generation, The Regional Growth Fund offers chemical and petrochemicals as well staff and create apprenticeships.” Phil Cole, head of business support grants starting at £10,000 rising to as by breweries, hospitals, heating and ventilation and industrial comat the LEP, said: “Wentworth is an £1m for larger projects. Support is available to companies plexes of all kinds. excellent example of how we can

Personal trainers disoover what’s in a name A PERSONAL training company in Huddersfield has changed its name – after clashing with a corporate a heavyweight. Pro-Fit has dropped its original name of Easy-Fit Personal Training after being a run-in with international giants the Easy Group. Easty-Fit, which been established for over 10 years offering personal training to the people of Huddersfield both in their homes and at Total Fitness, was approached by the Easy Group earlier this year with a request to drop the “Easy” from the title of the company as Easy Group own the rights to the word. Easy-Fit co-owners Steve But-

ters and Graham Webb took legal advice and were told that they stood a good chance of winning their case because of the length of time that Easy-Fit has been established. “Our solicitors were confident that we would be able to keep the Easy-Fit name even against such as large company as the Easy Group,” said Steve. “Unfortunately, the likely costs of fighting to keep our name in court has meant that we have had to reconsider our options and we are renaming the company to Pro-Fit.” Graham said: “It still amazes me that a company is entitled to trademark a word that is used in

every day language such as Easy and enforce this even when they are not offering a competing service. “We know that Easy Gym has been created by the company, but it was established long after Easy-Fit and they are certainly not competing for the same customers that we have here in Huddersfield.” Mr Butters said that at a time when the Government was trying to encourage more entrepreneurs and business start-ups, Pro-Fit’s experiences demonstrated the kind of pitfalls that a business can face even when they have been well established for many years.

■ NAME CALLING: Steve Butters and Graham Webb, of Pro-Fit, who changed their company name from Easy-Fit to avoid a potential legal row with the Easy Group – owners of easyJet

INSIDE Vision for expansion A WEST Yorkshire optometrist is set to take on more staff to cater for higher footfall as part of a three-year growth strategy. Darren Aveyard has seen a 10% rise in footfall at his practice in Huddersfield Road, Mirfield, since he acquired it three years ago. Now he plans to extend the Mirfield practice to incorporate an additional examination room and offer extended opening hours, which would mean taking on two more staff – a dispensing optician and a clinical optician.

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Team building A CONSTRUCTION company is building on its links with Huddersfield Town. Radcliffe Construction, based at Leeds Road, Deighton, has signed a new long-term partnership agreement with the club. The company first came on board with Town as a partner in 2012, but has now committed to a four year extension after a successful opening 12 months together.

● Full story - Page 7


KIRKLEES BUSINESS NEWS

national

Rise in profits fails to wow investors BANKING giant HSBC said first-half profits grew by 10% on a year earlier to £9.2bn on lower bad debts and shrinking costs. But shares in the bank closed down 33p to 721.7p or 4$ lower yesterday as the figures disappointed City hopes for pre-tax profits of about £9.5bn. Revenues fell by 7% to £22.4bn amid shrinking income in North America and Latin America. The banking group makes an estimated 90% of its money outside Britain and has benefited from its exposure to emerging markets in Asia. The lender, the last of the major UK high street banks to report on first-half trading, swung back into the black in the UK with first-half profits of £1.4bn. But HSBC set aside another £239m to compensate customers mis-sold payment protection insurance. That takes HSBC’s total bill for the mis-selling scandal – where customers

were sold loan insurance they did not need or could not claim on – to £1.8bn. The bank reported pre-tax losses of £2.3bn in the UK a year earlier, weighed down by the cost of mis-selling claims and a money-laundering scandal in the US. Profits in its UK retail banking arm soared by 58% to £524m and the bank said it lent £7.1bn of new mortgages to 68,000 homebuyers during the first six months of the year. Profits in its UK business banking arm almst quadrupled to £582m. Chief executive Stuart Gulliver shrugged off “muted” global growth including output slowing to 7.5% in China in the second quarter. He said the bank is well-placed to benefit from long-term trends in the global economy. He said: “Despite slower growth in the short term, the long-term economic

trends remain intact. “The global economy will continue to rebalance towards the faster-growing markets and trade and capital flows will continue to expand.” HSBC has been slashing costs under Mr Gulliver’s watch, including selling or closing 54 businesses since he was appointed in 2011 and axing more than 40,000 jobs. The bank expects total staff numbers to fall eventually to 254,000. The bank said first-half underlying operating costs were down by 8% to £11.9bn year-on-year. Provisions for bad debts also fell by 29% to £2bn. Investec Securities analyst Ian Gordon said: “For all the worthy progress in terms of strategic repositioning, with a major de-risking of the group and a welcome improvement in cost discipline, weak revenues driven by anaemic loan growth constrain financial progress and returns.’’

■ REBALANCE: HSBC group chief Stuart Gulliver said long-term global growth trends remained intact

Lloyds aims for dividend boost

RBS cash injection call

LLOYDS Banking Group has whetted investor appetites by reportedly telling shareholders it aims to pay out up to 70% of profits in dividends within three years. Chief executive Antonio Horta-Osorio disclosed the high dividend target during a recent round of investor road shows, which would give it the highest pay-out ratio of its peers, according to newspaper reports. The bank has not paid a dividend since its 2008 taxpayer bailout, but last week said it is ready to discuss with regulators a timetable for resuming dividends. Mr Horta-Osorio also said it aims

THE Treasury is reportedly considering injecting another £1.5bn into Royal Bank of Scotland – if a report recommends that the lender should be carved up. Investment bank Rothschild has been given the task of reviewing whether or not the 81% state-owned lender should be split into a “good” and “bad” bank. If it calls for a split, RBS will reportedly need more capital, according to newspaper reports. However, Chancellor George Osborne has said he is not prepared to put more taxpayer capital into the bank, so the Treasury is reportedly

to become a high dividend-paying bank, but did not set a public target. Shares in the bank closed 2p up at 75.7p yesterday, continuing a strong run which has lifted it above the 61p level the Government says it would break even on its £21bn bailout and above the 73.6p price paid by the state. While pay-outs are expected to start at a low level. Mr Horta-Osorio reportedly expects to be able to increase dividends to 60% to 70% of earnings by about 2015. The bank last week posted half-year profits of more than £2bn.

considering recycling funds from its so-called “dividend access share” – w h i c h p r e v e n t s R B S p ay i n g dividends to normal shareholders. Mr Osborne triggered the review into a break-up of the bank in June, and Rothschild is expected to report back in the autumn. The Government hopes to boost the economy and revitalise RBS by refocusing it on UK corporate and retail banking, and believes splitting off its toxic assets could assist with this. Mr Osborne said at the time: “We’re not prepared to put more taxpayer capital into RBS as part of this process.”

Page 2 Economy to pick up BRITAIN’S manufacturers have upgraded their forecasts for economic growth this year – but warned of significant risks should investment fail to make up ground lost in the last five years. The latest half-yearly Economic Prospects from the EEF manufacturers’ group said the UK economy was set to gain momentum this year as increased consumer spending remains a key driver of growth and improved confidence supports a recovery in business investment. The EEF is now forecasting GDP growth of 1.1% this year – up from 0.9%. Growth is expected to steadily increase through 2014 to 1.8%. While manufacturing is expected to contract this year by 0.7% due to a poor end to last year, output is expected to pick up in the second half of the year and expand by 1.9% next year. Continuing growth in exports, especially to non-EU markets which have grown by 45% in the last four years, will be a source of growth for the sector along with recovering domestic demand. Despite the improved picture for economic growth in the UK, the EEF said the successive postponement of a recovery in investment has been a feature of forecasts since 2010, with investment this year forecast to be almost 10% down on 2012. Business investment is currently a third below levels seen in early 2008.

SHARE PRICES NORTH AMERICAN American Express £49.40 +0.09 Gannett 1690.01 -21.50 Hess Corp £48.62 -0.45 Microsoft £20.65 -0.12 Motors Liquidation 48.86 Wal-Mart Stores £51.30 -0.01 AEROSPACE & DEFENCE Avon Rbbr 4811/4 +221/4 BAE Systems 4553/8 +31/4 Rolls-Royce 1185 -4 AIM Brady Plc 751/2 AUTOMOBILES & PARTS GKN 354 +21/2 BANKS Barclays 2851/2 HSBC 7213/4 -33 Lloyds Banking Gp 753/4 +2 3 Ryl Scotland 317 /8 -51/8 Stan Chart 1524 -201/2 BEVERAGES Diageo £21 +1/4 SABMiller £325/8 CHEMICALS Croda £253/8 +1/8 Elementis 98 2597/8 +21/4 7 Johnsn Mat £28 /8 CONSTRUCTION & MATERIALS Balfour Beatty 2513/8 -3/8 Costain 2861/2 -2 ELECTRICITY

Drax Gp 6721/2 +19 SSE 1572 -3 ELECTRONIC & ELECTRICAL EQUIPMENT Laird 2081/4 +41/4 EQUITY INVESTMENT INSTRUMENTS Alliance Trust 4453/8 -15/8 FIXED LINE TELECOM SERVICES BT Grp 3387/8 -3/4 Cable & Wireless 401/2 Comm Colt Group 1023/8 KCOM 861/8 +11/8 Talktalk Telecom 2507/8 +13/4 FOOD & DRUG RETAILERS Morrison W 2871/2 -27/8 Sainsbury 3931/4 -1/4 1 Tesco 368 /8 -31/8 FOOD PRODUCERS AB Food 1962 +3 -21/2 Tate Lyle 8301/2 Unilever £27 GAS, WATER & MULTIUTILITIES Centrica 3891/4 -3/4 National Grid 780 -31/2 Pennon Grp 705 +12 Severn 1791 +4 United Utils 7261/2 +11/2 GENERAL FINANCIAL 3i Group 3823/4 +13/4 ICAP 4013/4 +31/2 London StockExch 1620 +34 7 Man Group 94 /8 +33/8 Provident Financial 1734 +12

Schroders £251/4 +1/8 Schroders NV 1985 +19 GENERAL INDUSTRIALS REXAM 515 Smiths Grp 1314 -6 GENERAL RETAILERS Ashley L 257/8 -3/8 Carphone Whse 2471/2 +1/2 Dixons Retail 463/8 +3/4 Home Retail 1571/4 +25/8 Inchcape 633 -12 Kingfisher 4031/4 -1 M&S 4833/8 -53/8 Mothercare 435 +2 Next £501/4 WH Smith 8291/2 +281/2 HEALTH CARE EQUIPMENT & SERVICES Smith Nph 7961/2 -31/2 HOUSEHOLD GOODS Aga Rangemaster 961/2 +3 Barrat Dev 3521/4 +61/8 Persimmon 1273 +13 Reckitt Benckiser £465/8 +1/4 Taylor Wimpey 1133/4 +3 INDUSTRIAL ENGINEERING IMI 1424 +16 INDUSTRIAL METALS Ferrexpo 1743/4 +25/8 INDUSTRIAL TRANSPORTATION BBA Aviation 3001/2 LIFE INSURANCE Aviva 3733/8 -27/8

1973/8 +11/2 1943/4 -1/2 1190 -1 3353/4 +45/8 390 +31/2 MEDIA BSkyB 8291/2 -71/2 D Mail Tst 828 +121/2 1 /8 HIBU ITV 166 Johnston Press 16 -1/4 Pearson 1334 -2 Reed Elsevier 852 +81/2 1 STV Group 157 /2 Trinity Mirror 1141/2 -1 Utd Business 725 -151/2 1 UTV 155 /2 +1/2 WPP 1193 -4 MINING Anglo American 14751/2 +181/2 Antofagasta 8931/2 -71/2 BHP Billiton 19011/2 +7 7 +1/4 Eurasian Natural 224 /8 Res Fresnillo 1037 -4 Kazakhmys 2653/4 +31/4 Lonmin 322 +71/2 Rio Tinto £301/2 +1/8 VEDANTA 1240 +39 RESOURCES MOBILE TELECOM SERVICES Inmarsat 722 +2 Vodafone Group 198 -13/8 NONLIFE INSURANCE Admiral Grp 1330 -34 Lgl & Gen Old Mutual Prudential Resolution Standard Life

Local shares Carclo Marshalls National Grid Weir Gp

364 150 780 £221/8

-41/4 -31/2 -1/4

FTSE closed at

6610.58 Down 28.24

RSA Insurance Gp 1227/8 OIL & GAS PRODUCERS BG 11951/2 BP 4553/4 Cairn Energy 2705/8 Royal Dutch Shell £21 A Royal Dutch Shell £213/4 B Total £35 Tullow Oil 1052 OIL EQUIPMENT & SERVICES AMEC 1095 Petrofac 1273 Wood Gp(J) 8831/2

+11/4 +2 +3/8 +1/8 -1/8 -1/8 -16 +5 -17 -91/2

PERSONAL GOODS Burberry Gp 1555 +2 PHARMACEUTICALS & BIOTECHNOLOGY Astrazeneca £33 -3/8 GlaxoSmithK 71/2 Shire £24 -3/8 REAL ESTATE Brit Land 596 -11/2 Hamrsn 5311/2 -4 7 Intu Properties 330 /8 -21/4 Land Secs 9511/2 +21/2 SEGRO 3115/8 -13/4 SOFTWARE ETC SERVICES Invensys 5031/2 +1 Sage Group 3533/4 +11/4 SUPPORT SERVICES Berendsen 8361/2 +191/2 Bunzl 1360 -19 Capita 1034 -9 De La Rue 997 +4 5 Electrocomp 251 /8 +11/2 Experian 1226 -7 G4S 2285/8 +11/4 Hays 1053/8 +1 Homeserve 2651/2 -43/4 Menzies J 7621/2 +14 Rentokil 977/8 -1/8 Smiths News 1813/4 +13/4 3 Wolseley £32 /8 +1/4 IT HARDWARE ARM Hldgs 872 -9 Spirent Comms 1543/4 -1/4 TOBACCO

Br Am Tob £351/4 Imperial Tobacco £221/8 LEISURE & HOTELS Bwin.Party Digital 139 Carnival £253/4 Compass Grp 899 easyJet 1441 Enterprise Inns 147 FirstGroup 1031/4 Go-Ahead Gp 1550 Greene King 890 Intercontl Htls 1908 Intl Cons Airl 3263/4 Ladbrokes 2091/8 Mitchells & Butlers 414 Natl Express 2551/2 Rank Org 161 Stagecoach Group 3317/8 TUI Travel 392 Whitbread £323/4

-1/8 -1/8 -13/4 -2 -7 +5/8 -13/8 -15 +61/2 +9 +93/4 -51/8 -27/8 -5/8 +7/8 -17/8 +41/4 +1/8

FTSE 100

INDEX 6619.58

-28.29

FTSE 250

INDEX 15197.18

+65.21

TOURIST RATES Tourists going abroad can expect the following rates for sterling: Australia..................... 1.63 dollars Bangladesh................ 111.99 taka Brazil............................ 3.13 reals Canada...................... 1.51 dollars China ........................... 8.37 yuan Czech Republic .... 27.34 korunas Denmark..................... 8.17 krone Euro.............................. 1.10 euro Hong Kong............... 11.25 dollars Hungary................. 308.01 forints India........................ 81.90 rupees Japan......................... 143.20 yen Mexico ...................... 17.22 pesos New Zealand ............. 1.83 dollars Norway ....................... 8.65 krone Pakistan................ 146.87 rupees Philippines ................ 56.91 pesos South Africa................ 14.12 rand South Korea............. 1483.00 won Sri Lanka .............. 189.90 rupees Sweden....................... 9.63 krona Switzerland................ 1.35 francs Taiwan ..................... 39.96 dollars Turkey...................... 2.78 new lira USA ........................... 1.46 dollars


KIRKLEES BUSINESS NEWS

profile

Meeting royalty and rock stars KEEPING the customer happy is all in a day’s work for Christine Smith. Providing an efficient, professional service is second nature to the Moldgreen woman who worked at the John Smith’s Stadium for 17 years before taking on her current role of conference centre co-ordinator at Junction 25 in Brighouse last November. The former nursery nurse switched to the hectic world of hospitality when she took up a job as waitress at the stadium in 1995 – just a year after it opened. She rose to become deputy general manager, before deciding to move on after 17 years of overseeing the catering and hospitality at banquets, conferences, weddings, rock concerts and sporting dinners. She admits to being a little star-struck by some of the celebrities she has come across during her time in the industry. Christine has rubbed shoulders with footballers, rock stars and actors. Oh, and she’s met the Queen –.twice. She says: “I annoy my family when we’re watching TV by pointing and saying ‘I’ve met him...I’ve met her’. I had charge of the key to Bryan Adams’ dressing room when he performed at the stadium. I can say that I touched Bryan Adams’ jeans – but he wasn’t in them at the time!” Mirfield-born actor Patrick Stewart is among the celebrities she most admires, but confides: “Alistair McGowan is someone I really respect. A waitress spilt soup all down his jacket and trousers at a dinner where he was speaking. She was mortified, but he asked me if he could speak to the waitress to reassure her because he knew she would be really upset by what had happened.” But she says: “The Queen is the most famous person I’ve looked after. That was the

biggest perk of the job. “I was presented to the Queen before one of the Royal garden parties when the company I worked for was in charge of catering. I was among employees from around the company who were invited to meet her. “Then, during my time at the stadium I was responsible for looking after the Queen’s refreshment room when she opened a new sports college in Leigh, Lancashire. I was called in to assist by the catering company and had to make sure her refreshments were ready during a break in proceedings.” Meeting the Queen was the biggest thrill for Christine – but being involved in the 2012 London Olympics and Paralyympics proved another exciting experience. After leaving the stadium and before taking up her role at Junction 25, she was responsible for six food and drink outlets dotted about the Olympic Park to serve beer, pizza, hot dogs and the like to members of the public. “Coming from a football stadium background where you’re serving tea, coffee and Bovril it was much more demanding,” she says. “I met people from all over the world and people from different cultures.” There was the odd culture clash, however. “One lady was queuing at the pizza bar and

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Christine Smith Role: Conference centre co-ordinator Age: 48 Family: Married to David with son Alistair, 21, and daughter Abigail, 19 Car: Peugeot 207 Convertible Holidays: Northern France and UK city breaks First job: Nursery nurse Best thing about job: Meeting a wide variety of people Worst thing about job: Nothing! Business tip: Aim high to win

Junction 25

ordered a Margarita,” says Christine. “We made the pizzas on site, but when hers arrived she demanded her money back because she had wanted a cocktail.” The hours were long, Christine recalls. “My shift was 9am to 7pm, but I was staying in student accommodation at Luton University, which added two hours’ travelling time to the start and the end of the day. I did get to share the railway station platform with Jon Snow, of Channel 4, on my way back every evening, though! “I thought I’d done most things in catering – working on a lot of sporting events, rock concerts and the like, but the Olympics was like nothing else I have ever done. I doubt I will experience anything like it again.” Junction 25 is the conference and events arm of Kirkdale Industrial Training Services (KITS) at Armytage Road in Brighouse. KITS is best known for its training and apprenticeship operations. Christine’s role includes marketing and promoting the facilities at Junction 25. The centre has 10 rooms of varying sizes, including a conference room capable of accommodating 100 people. It is used for one-to-one meetings, off-site confidential interviews, leadership programmes, management and team away-days and bespoke ■ STAR VENUE: Christine Smith, conference centre co-ordinator at Junction 25 has met celebrities from the world of sport and stage – as well as the Queen

training as well as small exhibitions. Facilities available to centre users include KITS’ workshops and IT suite. At the stadium, Christine was part of a 100-strong team – when taking casual staff into account. At Junction 25, she takes sole responsibility for marketing the venue, selling and servicing events. She says: “I’m involved from the moment the client picks up the phone to book to the moment the client packs up to leave. “I pride myself on attention to detail, getting to know the clients and making sure we are catering to their event – making it a bespoke service. I enjoy working with people on a day-to-day basis, meeting last minute challenges and exceeding expectations.” And Christine is used to getting some odd requests from clients. “Someone staging a corporate ‘away day’ once asked if I could get hold of 12 tap washers,” she says. “Having a workshop on the premises, the answer wasn’t just ‘yes’ but ‘what size?’” She says: “I try to be as organised as possible and think far enough ahead to foresee the issues that might crop up. It’s a bit of a ‘swan’ thing – keeping cool and calm on the surface while paddling like mad!” Christine is “cautiously optimistic” that the economy is turning the corner, which would mean an upturn in business for the centre after a period when companies’ budgets for staff training and outside activities have been under pressure. “Everyone who walks through the door is surprised by the quality of the equipment and facilities,” she says. “The centre provides a good working environment without the

Work: Conference and meeting venue Site: Brighouse Phone: 01484 728525 Email: info@jct25.co.uk Web: www.jct25.co.uk distractions you might get at a hotel, for instance. You feel that you are here to get some work done. There’s no flimflam.” The centre’s location near the M62 means it is well-placed to attract businesses from all over West Yorkshire. Clients using the centre include multi-national manufacturers, banks, training companies and health sector bodies. Providing corporate hospitality could be likened to putting on a show – in which case Christine is well-qualified. Away from work, she’s a member of Huddersfield Thespians and had the distinction of having been its youngest

ever president. While she’s strictly behind the scenes as part of the stage staff with the Thespians, she has also taken to performing with Emley Drama Group. “The group puts on murder mysteries at charity events,” says Christine. “I always get cast as the police officer, which basically means announcing that a murder has taken place and wrapping things up at the end. The rest of the cast have to arrive at the event in character and stay in character all evening while the real guests try to solve the crime.”

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Page 4

Quantum leap for exhibitions firm A COMPANY is helping to promote the UK’s exhibition and trade show venues with the launch of a new multi-lingual website. Hipperholme-based Quantum Exhibitions & Displays Ltd aims to expand its international presence in the exhibition stand design and build industry with the website, which in languages including German, French, Italian, Dutch and Chinese. Linda Softley (pictured), marketing manager at the firm, based at Brow Mills Industrial Estate, said the website would give businesses overseas a clearer opportunity for exhibiting in the UK – and emphasise the cost benefits of them using a UK-based business with experience of UK venues and trade shows. She said: “The UK is a dynamic trading nation with hundreds of exhibition shows across the country. The UK business markets have a historic reputation built upon centuries of developing trade routes, foreign investment and building business opportunities. “We share a language with a third of the world’s population which makes the UK the perfect choice to grow your business presence and highlight your products and services. “By exhibiting in the UK companies can expect to ‘internationalise’ their services and target market by looking beyond their domestic markets and exploiting new opportunities.”

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KIRKLEES BUSIN

Bank bosses set the tone HE pronouncements of CentT ral Banks have continued to dominate the headlines in recent

months. They are maintaining the emphasis from last summer when Messrs Bernanke and Draghi (respectively the heads of the US and European Central Banks) pushed aside the utterances of politicians as the most important factor deter mining investors’ thoughts. To borrow and adapt an old phrase, and with all due respect to any mathematically-minded readers, the past quarter has been one of two halves. The first part up until May 22 was a period in which equity indices experienced another surge of optimism as investors pushed money into markets, partly via a rotation from fixed interest assets and partly from cash. Their logic for this action was firstly that the prospective returns from these latter asset classes looked to be very poor and secondly that policy actions from the authorities would avert global recession that could damage corporate profitability and hence equity markets. After the May meeting of the Federal Reserve, in which its chairman Ben Bernanke first raised the idea that Quantitative Easing (QE) would at some stage have to end, investors reacted by pushing down the prices of both bond and equity markets. Whilst initial reactions were understandable, because significant recent liquidity injections that had supported all markets might no longer be forthcoming, the economic implication of such a cessation was not

CITY TALK Nick Gartland

necessarily quite as serious as implied by the movements in asset prices. Over the quarter as a whole, bond markets performed poorly, as both less QE and better US growth are negative for sentiment. Equity markets did better, around break even including dividends. Within equities the strongest performance by some margin emanated from Japan and the most dismal from the emerging markets. Throughout this period of market volatility, forecasts for economic growth have provided a beacon of relative stability. Although short term upward momentum in the US may slow, due to the sequestration measures, the underlying position is sufficiently encouraging for Mr Bernanke to believe he can mention removing the “punchbowl” of QE. Elsewhere Japan is intent on expanding its own version of QE, which has been positive for both confidence and forward projections for economic growth. In Europe there has been some improvement, especially in the periphery, and the UK shows signs, albeit muted, of light at the end of the tunnel. The only negative factor has been a

reduction in forecasts for growth in emerging economies, as China has revealed rather more of an iron fist in its approach to its shadow banking system. Nevertheless expectations are still for world growth of slightly more than 3% in 2013 (which should be sufficient to maintain current levels of corporate profitability) and a more encouraging level of growth in 2014. Long term equity market analysis shows that as long as liquidity continues to run about 3% or more ahead of global economic growth, it will be positive for share ratings. Currently it is about 6% ahead but will narrow next year once both economic growth improves and the Fed begins to taper. In the meantime it should be supportive for equities. Within equity portfolios, there is some temptation to increase the cyclical bias, since those stocks should benefit from the more harmonised nature of growth once we reach 2014. This would indicate greater potential for Europe, Japan and Emerging Markets. To finish with an axiom from Ancient Greece, nothing is permanent except change!

Nick Gartland, Senior Financial Planning Director, Investec Wealth & Investment

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the workplace gets too hot. As Britain basked in a heatwave, an early-day motion tabled by Labour MP Linda Riordan suggested that many Britons are working in hot environments which can damage health. The motion has called for a law which would see employers sending staff home if workplaces reach 30C. The proposal has now attracted the signatures of 17 other MPs. It warns that workplaces ranging from industrial bakeries to school classrooms can get so hot they can “impact seriously on their health and well-being”. Ms Riordan said that hot offices and factories can cause “discomfort, stress, irritability and headaches... extra strain on the heart and lungs,

RISKY BUSINESS Mark Weeks

dizziness and fainting and heat cramps due to loss of water and salt”. She added that this could lead to a reduction in alertness, which in turn can increase the chances of an accident. The Workplace (Health, Safety and Welfare) Regulations 1992 give a lower temperature of 16C, or 13C if the work involves severe physical effort, but no upper limit.

The motion, which suggests an upper limit of 27C for those doing strenuous work, has attracted the backing of the TUC. Ms Riordan, who represents Halifax, said ministers should “resolve uncertainty for employers about their duty to combat excessive heat in the workplace by introducing a maximum working workplace temperature of 30C (86F) and of 27C (81F) for those doing strenuous work”.

Mark Weeks is a risk management consultant at Wilby Ltd

Avoid a pay he

KIRKLEES businesses hav been urged to ta note of a new ru on holiday pay. Paul Booth (pictured), a par and employmen expert at Huddersfield law firm Baxter Caulfield, said t exclude overtim calculating the pay. But he said be reviewed. An employment Neal v Freightlin British Airways ECJ – that a fre entitled to have counted toward Mr Neal was con basic 35 hours overtime when overtime work w therefore overti into account wh pay. Mr Booth said: tribunal and jus importance of h contractual agr in place, just in taken to an une tribunal, as Frei “This won’t be a employers who overtime or for optional. Howev effectively oblig then the daily ra holiday pay will Mr Booth said: recommend tha particularly tho starting-up or a on new staff, sh when drawing u contracts, so th obligations are this will prevent

Smalle remain

OPTIMISM amo risen for the firs year, according The CBI’s lates showed confide business situat medium-sized f first time since weak activity ov Total new order the three month orders were sta orders were par disappointing – quarter in a row during the quar margins eased, to run ahead of Prospects for th were a little bet expected to sta expected to con However, manu expectations fo the lowest in a expect staffing Anna Leach, CB analysis, said: “ general busines for the first time year.”


INESS NEWS

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Demand low for business finance

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nt tribunal has held in ner Ltd – following s plc v Williams 2012 eight worker was e overtime payments ds his holiday pay. ontracted to work a per week plus necessary. In practice, was not voluntary and ime should be taken hen calculating holiday

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ong smaller firms has rst time in more than a g to a survey. st trends survey ence about the general tion among small and firms had risen for the e April, 2012 – despite ver the past quarter. rs continued to fall in hs to July. Domestic atic, while export articularly – falling for the fifth w. Output fell slightly rter. Pressure on , but costs continued f output price inflation. the coming quarter tter – with output abilise and new orders ntract at a slower pace. ufacturers’ or output growth are year and employers g levels to fall slightly. BI head of economic “Optimism about the ess situation has risen me since spring last

Page 5

■ SMART MOVE: Pictured are (from left) John Dobson and Martin Cheek, of SmartSearch; James Scarr and Richard Jones, of Fantastic Media; James Dobson, of SmartSearch; and Gary Pattison, of Fantastic Media

New client for agency A LEADING online provider of anti-money laundering services has selected a Kirklees company to handle its marketing. SmartSearch has teamed up with Birstall-based Fantastic Media to increase its use of different marketing channels – and ensure their activity is fully integrated and reaches new potential customers. SmartSearch, which is based at Guiseley, Leeds, provides services to help businesses comply with anti-money laundering regulations. It was launched in 2011 by John Dobson and Martin Cheek and delivers services to firms including banks, estate agents and e-commerce businesses.

Fantastic Media produced a 12-month marketing plan following a complete strategic review of SmartSearch. The agency has now been given the job of delivering a complete brand refresh, new website, increased mobile presence, improved social media activity and event management. Richard Jones, head of Fantastic Media's mobile division, said: “We’re delighted that SmartSearch have chosen to work with Fantastic Media to develop their unique anti-money laundering solutions. “The company has huge potential given the growing importance of anti-money laundering and fraud prevention

Legal alert AN increasing number of law firms will be forced into selling their books of personal injury work over the next 12 months in order to meet working capital requirements and secure their financial future, it is claimed. Chris Jones, a partner at national law firm, Irwin Mitchell, believes that the combination of tough economic conditions, new civil litigation rules and lenders tightening up their available credit facilities for legal firms, will trigger a considerable rise in the number of transactions of this type in the short term. “The current economic climate is making it extremely tough for some law firms in the UK and this is being exacerbated by many lenders which are reviewing their exposure to the sector,” he said. “The issues are magnified for some firms involved in personal injury work due to wide-ranging legal reform which came into force from April which has meant that it is no longer possible to recover success fees or ATE insurance premiums from defendants. “There has also been the ban on referral fees which was introduced as part of the Legal Aid, Sentencing and Punishment of Offenders Act 2012.” Mr Jones said: “There are a surprising number of firms which have not taken the appropriate steps to deal with this loss of income and credit tightening. “This in turn has meant that in addition to many of these businesses now struggling to meet their working capital requirements, a significant proportion are finding it increasingly difficult to take on and fund new cases. For these firms, it has become a vicious cycle. “As you would expect, many practices are assessing their strategic options in order to deal with the situation. Some of them are looking to raise working capital by selling part or all of their personal injury business. Others are looking to diversify out of the PI market, whilst others want to close down the whole of their business. As the financial position for many firms becomes increasingly unstable, I expect to see a considerable rise in the number of transactions within the PI sector driven by the larger firms.”

in key business sectors. We look forward to helping deliver considerable growth for the company over the next 24 months.” SmartSearch chief executive John Dobson said: “Many companies would have helped us to design a new logo, but we wanted much more than that which is why we have chosen to work with Fantastic Media. “SmartSearch has always recognised the importance of letting the right people know about our innovative anti-money laundering solutions and this partnership will ensure we have the right strategy to do that and grow the business.”

DEMAND for business finance remains low – with only one in five companies in Yorkshire and Humber planning to raise finance in the next 12 months, according to a report. The latest Close Brothers Business Barometer also revealed that of the firms who plan to raise finance, 30% will utilise bank funding, while the majority will rely on private equity, government grants or turn to family to finance their business. Lee Hayes, regional sales director for Close Brothers Invoice Finance, said: “Our findings seem to suggest that many firms are holding back from investment in the present climate, adopting a rather cautious approach to growth. “While we can understand a conservative approach, it may mean that businesses are missing out on opportunities for increased commercial activity, thus impeding the pace of recovery. Technology and business processes progress so rapidly that SMEs may find themselves struggling to keep up with the competition if they do not proactively invest in their business.” Almost half of businesses surveyed in Yorkshire and Humberside admitted that their economic situation has not improved during the last 12 months while 14% claimed that trading conditions have deteriorated in the last year. Mr Hayes said: “If their economic outlook is to improve, it’s important that businesses raise their ambitions and reconsider their financial strategy. “Our figures suggest that many are unsure of the funding options available to them. “In fact, more than half of firms in Yorkshire and Humberside remain unaware of the benefits of invoice finance and asset based lending. “These are fast growing products that allow a business to raise cash instantly against the value of its unpaid invoices or assets such as property and stock, and can therefore help a business overcome what is often its greatest impediment to growth – weak cash flow.”

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KIRKLEES BUSINESS NEWS RICS reports steady demand DEMAND for shops, offices and industrial units in Yorkshire remained steady during the second quarter of the year as a number of would-be tenants registered their interest for available business property, according to a survey. The latest quarterly commercial property survey by the Royal Institution of Chartered Surveyors said that while the lion’s share of growth across the UK was in London, most commercial property markets across the country saw an uplift. The amount of available retail property across Yorkshire rose by 3% while a net balance of 11% more surveyors reported an increase in the amount of available offices on the market. However, the amount of available industrial units dipped slightly. Surveyors remain cautious about rents – with predictions that rents will remain flat. They also reported that the amount of new retail, industrial and office developments being built across the region remains static. Chartered surveyor Adam Osborne said: “Sentiment has certainly improved during 2013 and market activity is increasing across many sectors. “However, the region still faces challenges, especially on the high street. Empty property rates also remain a burden – the government certainly needs to do more to help alleviate some of the financial pressures being faced by businesses across the region.” RICS chief economist Simon Rubinsohn said: “It has been well-publicised that the commercial property sector across much of the country has been struggling since the onset of the credit crunch. “London has been something of an exception, but at long last, there are some green shoots beginning to sprout in other parts of the UK. “It is still early days and the rental outlook looks challenging both in some localities and some sub-sectors. However, the generally better numbers on tenant demand are an encouraging pointer to the future.”

property

Page 6

Gold award for housing staff A HOUSING association in Huddersfield has joined an exclusive club for top-notch employers – as it prepares to celebrate its silver anniversary. Sadeh Lok, which owns and manages more than 1,200 homes in Kirklees and Wakefield, has been awarded the Gold Investors in People status just 18 months after signing up to the initiative. And assessors were so impressed with the Edgerton-based group’s performance, they have asked it to become an Investors in People Champion to help promote investment in staff training and development in both private and public sector organisations. It marks a major transformation for the group, which just a few years ago was staring financial disaster in the face. In 2010, Sadeh Lok was looking at a £2m loss and was under close scrutiny by the housing regulator. However, a comprehensive business improvement programme developed by a new management team and board has seen the organisation dramatically turn around its financial position, performance and reputation across the housing sector. A report by the Investors in People assessors said that “the pace and extent of progress and change cannot be underestimated”. It said: “The turnaround and improvements in operational performance and – more significantly – organisational cul-

■ GOLD STANDARD: Paul Dolan (back, left) chief executive of Sadeh Lok with employees of the Edgerton-based housing association which has attained Gold Investors in People status

ture within a relatively short timeframe are highly commendable and testament to the commitment, dedication, perseverance and positive ‘can do’ approach of all involved.” It said: “The organisation has through its people demonstrated itself to be very resourceful and highly sophisticated for its size, ‘punching well above its weight’ and a formidable force within the

housing sector”. Sadeh Lok chief executive Paul Dolan said: “The Investors in People Gold Award is an amazing achievement for everyone associated with our business. “We have now become members of a very exclusive club as nationally, only 3.5% of businesses hold the gold level, with only a handful being housing associations. The gold standard

is about excellence in people and culture, the two key ingredients for any successful business. I am lucky to have such a fantastic employee team determined to provide excellence across our business.” He said: “This year will see Sadeh Lok celebrate 25 years as a housing association and there is no doubt this recognition is the most significant success story in those 25 years.”

Mayor opens bottling plant

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■ WATER WORLD: Kirklees Mayor Clr Martyn Bolt cuts the ribbon to officially open the Shepley Spring site at Kirkburton watched by operations director Charles Smith, technical director Jason Barlow, managing director James Smith and employees

A BOTTLED water business welcomed a VIP to officially open refurbished premises. Kirklees Mayor Clr Martyn Bolt joined directors of Shepley Spring for the official opening of the firm’s state-of the-art bottling facility at Spring Grove, Kirkburton. Clr Bolt cut the ribbon before taking the driver’s seat in a forklift at the Brookfield site to load up one of the company’s liveried trucks. Shepley Spring, established in 1996, is the UK’s only fully integrated independent own-label and contract water bottler – with its own creative in-house label design team. In February last year, the company sold its beer bottle labelling business Selpack Ltd, trading as S&C Labels to Leeds-based Print-Leeds. Shepley Spring managing director James Smith said: “Following on from our sale of S&C Labels we have been extensively renovating and improving our Brookfield site. “This process has taken over a year to complete and we now have a state-of-the-art bottling facility. The mayor visited and formally opened the factory and was shown the investment we have made in new equipment and infrastructure.”


KIRKLEES BUSINESS NEWS

property

Family firm builds on sporting links

A CONSTRUCTION company is building on its links with Huddersfield Town. Radcliffe Construction, based at Leeds Road, Deighton, has signed a new long-term partnership agreement with the club. The company first came on board with Town as a partner in 2012, but has now committed to a four year extension after a successful opening 12 months together. The firm already sponsors the Radcliffe Suite, a refurbished function room that holds up to 150 guests, at the club’s Canalside complex. It has also been heavily involved in the development works at Canalside, such as the renovated kitchen and current reconstruction of the entrance. Town commercial manager Ajin Abraham said: ““To have Radcliffe Construction renew its partnership with Huddersfield Town for four years is testament to Radcliffe’s commitment to working with us and the local community. They are a proud

local business renowned for their quality of work. “We are delighted to have a quality addition to our partnership roster who has committed to the long term with Town. Radcliffe Construction has been heavily involved in creating Canalside into a state-of-the-art training complex. We eagerly look forward to continuing to build our partnership off-the-pitch.” Paul Radcliffe, of Radcliffe Construction, said: “Having joined Huddersfield Town’s family of partners last year, we have seen our business profile and relationships grow during that period. “We see Huddersfield Town as a team on the rise and there are a lot of exciting developments happening both on and off the pitch. “The Canalside Sports Complex, particularly, is a big investment that the club has made. We have been fortunate to be involved in the work to make Canalside a state-of-the-art training com-

■ TEAM BUILDING: Ajin Abraham (left) and Sean Jarvis (second right), of Huddersfield Town with Paul Radcliffe (second left), of Radcliffe Construction and Canalside operations manager Stuart Leach in the Radcliffe Suite

plex. “It only felt right to add our name to the function room because of the work we have done. The facility is coming along nicely and we are excited by the prospects of working with Town for the long-term future.”

Many historic buildings in Huddersfield were built in the last 200 years by Radcliffe. The family business has now evolved into a specialist construction and project management firm tackling projects of all sizes.

Page 7

Recruiters go back to school A SPECIALIST property recruitment company has teamed up with a Holme Valley school to introduce students to the world of work. Huddersfield-based AMR regional director Nicola Davis and colleagues Robin Tossell, Christine Stroyan and Guy Davis ran workshop sessions for year 10 students at Honley High School. Each workshop covered a wide variety of topics, including how to write a good CV, how to prepare for a job interview and dressing appropriately for the workplace. Students were then asked to write individual CVs as part of their homework. AMR teamed up with the school in order to help give students an accurate experience of what life is like at work. Nicola said: “When the students came into class to be met by four strangers, there were feelings of nervousness, trepidation and intrigue as to what was to ensue. “The students each took part in a mini-interview, with the rest of the class judging their performance, which of course was a daunting experience, but helped to create a sense of what happens in a real job interview. Although students were nervous at first, their personalities shone through in the tasks. “We hope the school and its students enjoyed the experience as much as we enjoyed leading the sessions, and hopefully the workshops will help prepare them for their future careers.”

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KIRKLEES BUSINESS NEWS

Movers and shakers

Page 8

Award hopeful puts focus on expansion Lesley Gulliver

Engine Room THE Engine Room Design in Huddersfield has appointed Lesley Gulliver as brand strategy director. Ms Gulliver, pictured with Engine Room founder and design director Darren Evans, has an extensive background in the sector and is one of the Design Council’s national network of design associates. The Engine Room has doubled in size in the past 18 months – along with the winning of a highly-accredited Design Effectiveness Award in 2013. The company, based at The Creative Lofts at Northumberland Street, has landed a series of client wins and is working on a number of Yorkshire-based brand projects, which will be revealed later this year. It already has clients across the UK, Europe and the USA. Mr Evans said the firm’s investment in new design thinking for its clients had enabled the Engine Room to stand out. He said: “Design agencies can’t stand still and can no longer just focus on logos, brochures and websites. We have to apply our design skills strategically to absolutely guarantee competitive advantage for our clients. “We’re delighted to have Lesley Gulliver on board who truly bolsters our strategic approach to brand and service design. We’ve worked together previously and we know it’s a winning team.” Ms Gulliver is a former director of Onbrand and head of client management at ZOO plc. She has also worked with some major brands and household names. Independently, she’s advised many design and non-design companies on business and design strategy and is one of a small number of design associates working on the Design Council's Design Leadership Programme, the country's only design-led business support programme.

Joanne Walker

Faith PR JOANNE Walker has joined Brighouse-based Faith PR to work on both PR and social media for a variety of clients in the beauty, retail and food and drink sectors. Ms Walker (pictured) brings with her experience of working on the PR and social strategy for Leeds Golf Centre and Physique Physiotherapy. A former international netball player for England and a regular on Sky Sports when captaining Yorkshire’s Superleague netball franchise, she can also offer Faith’s clients her experience of being in the media spotlight herself. Faith PR founder and director Stefanie Hopkins said: “We are thrilled to have someone as talented as Joanne join our expanding team and believe her experience, skills and enthusiasm will add significant value for our clients.” Joanne, who gained a Master’s degree in Public Relations and Communications from Leeds Metropolitan University, said: “Faith PR is a fantastic opportunity to work in a fast growing agency and on a great range of clients.”

A WEST Yorkshire optometrist is set to take on more staff to cater for increased footfall as part of a three-year growth strategy. Darren Aveyard, who has successfully run D Aveyard Opticians in Beeston, Leeds, for 20 years, has seen a 10% rise in footfall at his second practice in Huddersfield Road, Mirfield, since he acquired it three years ago. Now he plans to extend the Mirfield practice to incorporate an additional examination room and offer extended opening hours, which would mean taking on two more staff – a dispensing optician and a clinical optician. And the ambitious expansion plan comes as Darren waits to find out if he’s one of the winners in a national port eight staff and three freelance opticians and Mr Aveyard industry awards. The practices currently sup- is hoping to extend the Mirfield

practice within the next 18 months. It follows a recent £50,000 investment in an ocular coherence tomography machine at his Beeston practice, which spots degenerative conditions at the back of the eye and is more commonly found in hospitals. Said Darren: “We’re looking to target the 25 to 40 age group over the next few years with an increased range and longer opening hours to give people greater flexibility when it comes to their appointments. “As independent opticians, we really get to know our customers and we find they’re incredibly loyal and come back time and time again once they’re through the door.” Customer loyalty has been demonstrated by Darren being nominated recently for Optician of the Year in The Macular

The search is on KIRKLEES businesswomen have been urged to enter a national competition to find the 2013 Women of the Future. The awards aim to recognise talented women aged 35 and under who are role models for the next generation. Now in their seventh year, the awards recognise women across nine industries as well as mentors and organisations that promote their own younger women. Nominations can be made until September 11, 2013, at awards.womenofthefuture.co.uk. The awards are backed by Shell UK and patrons include Cherie Blair and Princess Badiya Bint El Hassan, as well as Master of the Royal Household Sir David Walker, BBC “Dragon” James Caan and double Olympic gold medal-winner Dame Kelly Holmes.

Winners last year included Lindsay Goldsbrough, the Middlesbrough-based checkout girl who became manager at Asda’s top-performing store worldwide; doctor-turned entrepreneur Kate Hersov, who founded the world’s first medical education company for children, Medikidz; and pioneering businesswoman Nicola Elliott, who built fragrance and body care brand Neom Organics. Awards organiser Pinky Lilani said: “In a changing economy and society in which many institutions suffer from a lack of trust, our most talented younger women are taking the responsibility for inspiring and supporting the next generation. The awards will be presented on November 13 in London. For information, go to awards.womenofthefuture.co.uk

Double for Natalie A SOLICITOR in Huddersfield has been admitted to two prestigious panels in relation to family law. Natalie Gibson (pictured), of law firm Makin Dixon, which has its offices at Queen Street, is now a member of the Law Society’s Children Panel – allowing her to undertake the specialist work of representing children in care proceedings. She has also become a Resolution Accredited

Specialist in the two areas of domestic abuse and children matters. Natalie, a former Greenhead College

student who gained a law degree at Huddersfield University, is now one of only a handful of members specialising in each of these subjects in the Huddersfield area. Makin Dixon are a niche practice undertaking all aspects of family law work. The accreditations give clients the confidence that the sensitive work undertaken is being carried out by a specialist in that work.

Society’s Awards for Excellence after he spotted the early signs of the degenerative eye condition, macular disease, in one of his customers. Peter Wallis, of Mirfield, nominated Darren for the award after he initially diagnosed the pensioner with the condition during a routine eye test at his Mirfield practice. The winners will be presented with their awards on September 28 at the Macular Society’s annual conference at the Park Plaza Hotel, in London. Darren said: “It was a really nice surprise to get the nomination. It gives me great satisfaction that the job we do has a real impact on people’s lives. “The investment we’re looking to make in the Mirfield practice means we’ll be able to grow as a business and reach even more people.”

Gary Smith & Michael Airey

CKMA THE Calderdale and Kirklees Manufacturing Alliance has appointed Gary Smith as chairman and Michael Airey as vice-chairman of the group, which supports and promotes manufacturers in the Calderdale and Kirklees areas. Mr Smith is a director of Huddersfield glass bending and processor Novaglaze Ltd while Mr Airey is managing director of Brighouse-based speciality yarn manufacturer North Vale Doubling Co Ltd. Mr Smith, who has worked at Novaglaze for more than 10 year, said: “Finding orders which can create some profit; getting paid on-time, sourcing both skilled staff and also quality suppliers are all challenges regularly faced by all businesses. “Luckily, there are solutions to these problems and thanks to manufacturers supporting each other in the alliance most members have managed to survive the recession and are starting to feel the benefit of buying and selling locally, especially with transport costs rising at an alarming rate!” Commenting on his role with CKMA, he said: “It’s also good to know you are supporting and securing jobs in companies where friends, relatives and local young people are striving to earn a living too.” Mr Airey joined North Vale in 1972 – 100 years after the original mill was built and from where the family business still operates. The company, now in its sixth generation, specialises in commission processing yarns from fine yarns for suiting; apparel and furnishing yarns; to thick yarns for industrial use. Mr Airey said: “We have recently withstood some testing times, but being part of the CKMA has certainly helped with sharing knowledge, gaining skills and feeling part of a team.”


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