Ulster Business Top 100 2022 by Ulster Business

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AUGUST 2022

E X P E R I E N C E B E YO N D E X P E C TAT I O N

A LUXURY SHOPPING EXPERIENCE IN THE HEART OF BELFAST

ECLECTIC CHARM Located in the heart of Belfast city centre’s shopping district, Queen’s Arcade is a unique and luxuriant shopping experience. It is home to global watch, jewellery and accessory boutiques alongside an array of high quality, independent retailers.

Q U E E N ’S A R C A D E , B E L FAST, B T 1 5 F E Q U E E N S A R C A D E B E L FAST. C O M

A LUXURY SHOPPING EXPERIENCE IN THE HEART OF BELFAST

Q U E E N ’S A R C A D E , B E L FAST, B T 1 5 F E Q U E E N S A R C A D E B E L FAST. C O M

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Contents 10 News

60 Interview

142 Review

A host of the latest news and exclusives from across the world of Northern Ireland business

Martin Property Group on revamping a Derry retail stalwart and an asset sweep in Belfast

John Mulgrew gets hands on with some of the new Patek Philippe collection

30 In Focus

69 Top 50 Employers

155 Motoring

John Mulgrew speaks to Jans Group about huge growth ambitions and creating 500 jobs

A showcase of the largest employers based across Northern Ireland

Pat Burns takes on a new hybrid SUV and a luxury Bentley convertible

32 Top 100 analysis

98 Interview

164 Photocall

Jonathan Cushley breaks down all the key numbers from this year’s Top 100

John Mulgrew speaks to Steve Berry about Angoka’s plans for huge job creation here

A look at what’s been happening across Northern Ireland this summer

37 Top 100

120 Travel

176 Technology

The definitive list of Northern Ireland’s biggest businesses from across the sectors

Ulster Business pays an overnight visit to Titanic Hotel Belfast

Adrian Weckler looks at the latest releases from tech giant Apple

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EDITOR’S COMMENTS

Top 100 performance truly impressive

t’s truly impressive just how many companies of all shapes and sizes have dealt with the last two and a bit years with an amazing degree of resolve and resilience.

are showing the strongest performances and showcasing both the stalwarts of industry here, many still family-owned, and the newcomers to the list which, one day, may end up making their way close to the top.

Welcome to the Ulster Business Top 100 Northern Ireland Companies 2022, with A&L Goodbody.

There is a lot packed into this edition, including the Top 100 list itself, detailed insight from our analyst Jonathan Cushley, forensic proﬁles of some of the companies making the list alongside fresh and vibrant photography, commentary from the leading voices of both our private and public sectors, exclusive interviews, news, features, reviews, proﬁles and considerably more.

This is our double summer edition and it’s always been a special magazine which takes a huge amount of work from the entire team, alongside all of our contributors and those who have supported us along the way, in particular our sponsor, A&L Goodbody, which has been with us for seven years. It’s a snapshot of our how our biggest businesses are performing in terms of sales and proﬁt, highlighting the sectors which

We’ll go into the details throughout this edition, but needless to say many of our Top 100 companies this year have shown some of the strongest performances in their history. However, we all know that our

economy is facing another challenge, this one not as the result of a global propertyled ﬁnancial crisis or pandemic, but a series of international issues inducing soaring input costs, energy prices and double-digit inﬂationary pressures. But we’re well-placed to deal with the issues and challenges which lie ahead. On that note, thanks again for supporting the magazine this year and in years gone by. It helps us do what we do best. You may notice a few tweaks in this edition in terms of the magazine’s appearance. Thanks to our top designer Susan for helping Ulster Business look as fresh and clean as it does. Please enjoy this edition, and we’ll catch up soon. ■ John Mulgrew

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Editor John Mulgrew

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AUGUST 2022

TOP 100

Celebrating success with the Top 100 By Michael Neill, head of Belfast Office, A&L Goodbody

ur sponsorship of the Ulster Business Top 100 edition over the past seven years is one of which A&L Goodbody (ALG) is immensely proud and which we value greatly. As an international law firm with offices in Belfast, Dublin, London and the US, it is our privilege to work closely with many of Northern Ireland’s Top 100 companies, advising on both domestic and international matters. Once again, we are encouraged by the continued strong performance of the companies ranked, with pre-tax profits up 46% year-on-year across the Top 100. As leading employers, exporters and innovators, their performance is often a good barometer of the health of the local economy and emerging trends across key business sectors in Northern Ireland.

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As well as recognising those companies maintaining the top positions and those scaling up the rankings each year, it is particularly positive to welcome 11 new firms for 2022. Many businesses are aware of the persisting challenges posed by Covid-19, Brexit and an uncertain domestic and global economy. The Top 100 continue to take every measure to mitigate against those. Our heightened focus at ALG is on the future and on supporting our clients in realising every opportunity for sustainable recovery and growth, alongside navigating continued market challenges. We are encouraged to see investment and transactional activity has not been subdued by the pandemic. In fact, we have seen the opposite. We are, once again, ranked as Northern Ireland’s leading legal advisor on deals, having advised on £1.2bn of transactions across 2021. This trend looks set to continue in the months ahead and into 2023, with deal flow remaining really encouraging.

In the coming months we anticipate continued growth in demand for our expertise around the many legal considerations associated with ESG (environmental, social and governance) for all companies, large and small – from employment to contractual and procurement matters. We also expect to continue advising on a range of Brexit-related legal matters, alongside the many wider challenges that will emerge out of any looming economic downturn. Whatever the challenge or opportunity, our 120-strong team of lawyers and business support professionals at ALG in Belfast, and indeed our 1,000 colleagues across the wider firm, remains poised and committed to supporting our domestic and international clients across every aspect of their business success. On behalf of all at ALG in Belfast, congratulations to each of the Ulster Business Top 100 Companies. We wish you every success in the coming year. ■

NEWS

A summer in numbers

100

The number of companies on this year’s Ulster Business Top 100 Northern Ireland Companies list, with A&L Goodbody.

£1.4bn The combined pre-tax profits of our Top 100 firms. That’s a huge increase of 46% on the same period a year earlier.

The position held by Moy Park on the Top 100 list for 2022.

2.6%

The percentage increase in combined turnover of our Top 100 firms, rising to £27.7bn.

Top 100 companies see profits soar 46%

Peter Stafford, partner A&L Goodbody, John Mulgrew, editor of Ulster Business and Justin Coleman, director, Moy Park

orthern Ireland biggest businesses have seen profits soaring by almost 50% year-on-year, Ulster Business can reveal. The Ulster Business Top 100 Northern Ireland Companies 2022 list, with A&L Goodbody, shows pre-tax profits among our biggest firms rose by 46% to £1.367bn up from £936.8m, based on previous accounts. Meanwhile, sales among our Top 100 companies rose by just 2.6% during the same period, from £26.1bn to £27.7bn. This 2.6% growth is down from the 10.4% growth recorded in the Top 100 a year previous. The list has showcased the performance of the biggest firms from right across NI, ranked by turnover, for more than 30 years. It uses data from Dun & Bradstreet and the latest accounts filed to Companies House in the UK, with data including more recent filings for many firms covering the period since the start of the Covid-19 pandemic. Moy Park has topped the list once again, as it has for a decade, posting turnover of £1.46bn and pre-tax profits of £82.7m for its latest filed accounts. There are also a host of new companies making this year’s list, with around a dozen businesses joining in 2022. That includes firms such as T.W. Scott & Sons (Fuels) Ltd and Budget Energy Ltd which have made their way up from our Next 200 list

of SMEs. And other firms making the list this year include Fourds Ltd – the Magherafelt-based business which counts Bloc Blinds among some of its arms. Ulster Business has partnered with corporate law firm A&L Goodbody for the last seven years with the Top 100. “While the last two years have been some of the trickiest periods for business and wider society in a generation, the performance of many of our biggest businesses is testament to the hard work which goes in to running a Top 100 company,” John Mulgrew, editor of Ulster Business, said. “Although the next 12 months will present yet another set of challenges for companies amid double-digit inflation and energy costs, this year’s Top 100 is a clear indication of the resilience and buoyancy of our largest firms.” Michael Neill, head of Belfast office, A&L Goodbody (ALG), said: “Many businesses are aware of the persisting challenges posed by Covid-19, Brexit and an uncertain domestic and global economy. “The Top 100 continue to take every measure to mitigate against those. Our heightened focus at ALG is on the future and on supporting our clients in realising every opportunity for sustainable recovery and growth, alongside navigating continued market challenges.”

NEWS

Jans Group to ‘grow headcount to 500 staff’

Ronan Hamill

By John Mulgrew

Co Antrim manufacturer says it wants to increase its workforce to 500 staff as it heads towards sales of £50m, Ulster Business can reveal. Jans Group now comprises of three arms – ETRUX, which specialises in electric vehicles, Jans Lifestyle, focusing on high-end campervan conversions, and Jans Offsite Solutions, building high-end lodges and modular housing. The company started with just two dozen people at the start of last year. But it’s since gone on to crack the 200 staff mark, little over a year later. “We would like the business grow to 500 people,” boss Ronan Hamill says. “It would be a number which is feasible within our current levels. “We are getting on a run rate which would see us achieving £50m

AUGUST 2022

next year. We are around £35m to £40m this year.” Mr Hamill says sales within the lodge business are approaching £20m but that’s set to double by next year. “That’s really driving us to drive our site and being able to double our floorspace from 10,000 sq m to 20,000 sq m.” Jans Group has expanded from just a couple of dozen workers last year, to a three-company group with a workforce of more than 200. It’s planning to double its already expansive 10,000 sq m Antrim base, grow its headcount to 500 and expand sales to £50m. Read the full interview on page 30-31

NEWS

Science and tech ‘key to NI’s future’

Commission downgrades Ireland’s economic prospects amid Protocol Bill

he next decade will “be unlike everything before” and utilising science and technology will be key to develop our economy, the head of the Northern Ireland Civil Service has said. Writing in this special Top 100 edition of Ulster Business, Jayne Brady says “in the face of major societal, economic and environmental challenges, we have the opportunity to ensure that this decade is remembered, first and foremost, for delivery”. “Challenges will continue to come our way, but I am optimistic that we in the Northern Ireland Civil Service can deliver, because I am very proud of what we have already achieved.” Ms Brady says, however, that “the lack of a functioning Executive also brings its own unique challenge, and while challenges are inevitable, how we respond and transform will always be conscious decisions”. “The importance of science and technology as an enabler of a proactive public service cannot be underestimated. “Through collaboration and co-design with delivery partners, we will utilise innovation, science and technology to deliver solutions, ensuring our response is effective. It is critical that these are at the heart of policy making and I’m delighted that a recruitment Jayne competition to Brady appoint an NICS chief technology and scientific officer is at an advanced stage. “In order to support the organisation so that we can lead the public sector during this time of transformative change, a Civil Service Renewal Programme is underway.”

Quotes of the summer

“Let’s put our shoulders to the wheel this summer by building confidence and doing all we can to back investment.” Adrian Doran, outgoing chair of the CBI NI, writing in this edition of the magazine.

he European Commission has downgraded its forecast for Ireland’s economic growth, with the NI Protocol Bill among factors bringing “high uncertainty”. The commission said its expectation for Ireland’s real GDP growth for 2022 was down slightly to 5.3%, from 5.4% in its spring forecast. Its 2023 annual growth projection is down to 4% from 4.4%. The Summer 2022 Economic Forecast said the gloomier projections reflected “the deteriorating global outlook, weakening sentiment, and persisting inflationary pressures”. “The outlook for the Irish economy is surrounded by high uncertainty also due to factors which are specific to Ireland, such as recent developments regarding the disapplication by the UK of the Protocol on Ireland/Northern Ireland under the EU-UK Withdrawal Agreement,” it said. The bill aims to override aspects of the protocol, which the UK and EU agreed in 2019. MPs this summer voted down changes to the legislation, prompting DUP leader Sir Jeffrey Donaldson to say that if the bill is passed, his party will return to the Executive with Sir Jeffrey taking on the role of Deputy First Minister. The European Commission forecast that inflation in Ireland would rise to 7.3% in 2022 before declining to 3.3% in 2023. While it has downgraded its forecast for Ireland, its rate of growth is still twice the predicted EU average, and almost three times as fast as EU growth next year.

“The nature of unavoidable price hikes has seen UK real disposable income fall in the last four consecutive quarters, a trend not seen since records began.”

“I would urge anyone who owns or runs a business in Northern Ireland to keep a keen eye on their finances over the next few months and seek advice if they are worried.”

Ulster University economist Marguerite Shannon writing in this edition of Ulster Business.

James Neill, R3 chair for Northern Ireland, speaking as the number of overdue invoices in Northern Ireland is growing.

NEWS

Major Belfast and Derry retail sites ‘to be revamped’ By John Mulgrew

Ross’s Court in Belfast

wo major city retail sites in Northern Ireland could be revamped as part of multi-million pound schemes to include leisure and other forms of entertainment, Ulster Business can reveal. Paul Martin of the Martin Property Group says Ross’s Court in Belfast, formerly home to Argos, could include a new leisure scheme on its upper floors, and retail on the ground. “The other option is a national retailer looking at the whole space,” he says. Mr Martin says the group has significant experience in redeveloping similar listed buildings. And he says major plans are underway to revamp Derry’s Richmond Centre which would include new retailers, children’s play areas, more food and beverage offerings, laser tag, a residential element as well as potentially being extended upwards. He says the firm wants to bring the 100,000 sq ft centre “back to life”. “[There’s] opportunity for the city centre. The goal is to bring alternative uses to the building. The trend in retail is shrinking. That’s to do with the internet and Covid – these centres are generally too big and there are a lot of vacancies. There needs to be alternative uses.” The Martin Property Group has bought a series of major Belfast

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buildings over the last few months and is investing millions of pounds in revamping schemes in the city, in Derry, and across the UK and Ireland. Read the full interview on page 60-61

NEWS

Harland & Wolff lands £55m Royal Navy deal

arland & Wolff has landed a major £55m contract to refurbish a Royal Navy mine-hunting ship. The parent company, which owns the iconic Belfast shipyard will undertake the work for the Ministry of Defence on HMS Quorn. The “regeneration” is said to support 100 jobs, with work being carried out at Harland & Wolff’s Appledore shipyard in North Devon. “This contract has provided the breakthrough that we needed to activate the fifth and final element of our business strategy – the key market of defence,” John Wood, group chief executive of Harland & Wolff, said. “Our strategy has been well and truly validated and we intend to capitalise on this win through bidding on and securing further

government contracts. “The extended process to win the M55 Contract enabled us to showcase the technical and commercial capabilities of the entire group and has now provided the MOD with a credible alternative to the existing industry base. “This contract is validation that the

Northern Ireland house prices rising despite cooling demand 14

Government can go elsewhere, recognising the investment and progress made over the last two years to put Harland & Wolff in a position to execute on such programmes. Our eyes are now set on delivering this contract and executing on our pipeline as we continue to build momentum, credibility and a highperforming, experienced workforce.”

ouse prices are continuing to rise in Northern Ireland despite cooling demand for homes, a new survey has shown. A majority of surveyors said house prices increased in Northern Ireland during June, but there are also indications the market has “slowed slightly”. That’s according to the latest RICS (Royal Institution of Chartered Surveyors) and Ulster Bank Residential Market Survey for June. A small proportion of those surveyed said new buyer enquiries were up during the month – the lowest the figure has been in the past two years. “Despite this cooling demand, house prices continued to rise firmly, in part linked to a lack of supply in the market,” the report says. “House prices are expected to rise throughout the next quarter of the year too, according to a net balance of +42% of respondents. “And despite the cooler demand in June, respondents expect sales to increase over the next three months as well.” According to the report one of the biggest factors impacting the market “continues to be the lack of properties, although there is perhaps an indication in the latest report that this is easing”. “June’s survey was the first time in 12 months that the instructions to sell balance was in positive territory.” Samuel Dickey, RICS Northern Ireland residential property spokesman, says: “Demand in the local housing market has slowed slightly and more vendors are coming to the market, but we’re still seeing prices moving upwards.”

NEWS

Moy Park demand strong but ‘headwinds’ remain

oy Park says it’s continuing to see strong demand for its products but “headwinds” such as inflation and global challenges are likely to impact its top line, Ulster Business can reveal. The poultry giant came in at the number one spot in the Ulster Business Top 100 Northern Ireland Companies 2022 list, with A&L Goodbody. Moy Park posted turnover of £1.46m for the accounting period ending December 2020. However it’s likely to see a drop in sales for the next accounting period, covering 2021, “on the back of headwinds” during the second half of the year. While Moy Park remains firmly at the top of this year’s list once again, it’s facing wider industry and economic headwinds with rising input costs, according to director Justin Coleman. Mr Coleman, agri-business and live production services director, says “it’s been another strong year” however inflation started to kick in and have an impact towards the second half of the year. Speaking about the last 12 months, he said: “During the second half of the year inflation started to creep into feed, fuel and fertiliser. Demand for poultry products is still strong as is demand for QSR products across nine different categories in retail. “Demand for nutritious, healthy and great value products is still out

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there but definitely headwinds in the second half of the year.” Looking at the next set of accounts, he said: “The top line view is that they wouldn’t be as strong as the previous year’s on the back of those headwinds during the second half of the year.” Read the full interview on page 46-47

NEWS

FinTrU adding 300 jobs at new EU hub in Letterkenny B

elfast’s FinTrU is creating a new EU hub in Letterkenny and adding 300 jobs, it has been revealed. The firm, which provides outsourcing for some of the world’s biggest investment banks, now employs more than 1,000 staff across its sites, the majority of which are in Belfast and Derry. Founder and boss Darragh McCarthy says the “highly educated and ambitious talent based here in Donegal was a major motivating factor in FinTrU choosing Letterkenny as the next EU base”. “This new location will further support FinTrU as we continue to work with the largest International investment banks across the world,” he says. FinTrU specialises in a range of roles for tier one investment banks. That includes areas such as legal, compliance and KYC (know your customer). The expansion is being supported by the Irish Government through IDA Ireland. “We are extremely excited to announce the news of our north west regional expansion with the establishment of our Letterkenny site,” Darragh McCarthy says. “FinTrU has enjoyed a great relationship with the north west region, having set up our Derry office in October 2018, with over 300 employees presently working at this site. “We already employ several people from Letterkenny and the wider county of Donegal, so it was a natural step for us to open an EU delivery office right here in Letterkenny. “FinTrU has forged a great partnership with IDA Ireland, Donegal County Council, Donegal Education & Training Board (ETB) and the Atlantic Technological University over the years and we are delighted to be working with them in delivering this project over the years to come.” Taoiseach Micheál Martin said: “FinTrU’s announcement that it’s creating 300 jobs, providing new opportunities in Letterkenny, Donegal and the north west is wonderful news. Ireland has established itself as a leading

Darragh McCarthy

global financial services centre and we are committed to building on this success. “The new positions announced by FinTrU are testament to the company’s growth and achievements, as it invests in, and benefits from, skills and talent from across the whole island. I wish FinTrU many more years of

continued success in their operations here.” At the end of 2020 the firm expanded its reach further with a new office in New York. The firm, which has grown substantially including hiring dozens of workers through the pandemic, said it grew by 75% in 2020 “driven by operational excellence”.

ECONOMY

Price and inflation pressures cause NI private sector contraction

orthern Ireland’s private sector has suffered a contraction amid fresh price and inflation pressures.

Richard Ramsey

There was a reduction in output and new orders for businesses here during June, with falling activity was seen across all four broad sectors, according to the latest purchasing managers’ index with Ulster Bank. The sharpest decline was felt by manufacturing. It suffered the most marked contraction since the first Covid-19 lockdown. Northern Ireland was the worst-performing region in the UK, according to the survey. “June’s survey saw May’s drop in demand broaden out to encompass all four sectors,” Richard Ramsey, chief economist Northern Ireland, Ulster Bank, said. “Meanwhile the slump in new orders deepened across three of the four sectors with services’ performance the best among a bad bunch. “Demand conditions in June deteriorated more significantly in Northern Ireland than elsewhere, with local firms reporting the steepest declines in out-put and orders of the 12 UK regions. “Northern Ireland firms reported a significant loss of momentum at the end of the first-half of the year.” The rate of inflation of both input costs and prices remained among the fastest on record, despite increasing at a wear pace than previous months. Higher costs for energy, fuel, shipping and wages were all widely reported, while supplychain disruption continued, although lead times lengthened to a lesser extent amid weaker demand. “The cost-of-living crisis had already become

increasingly evident in May with a slump in retail demand with this trend continuing in June,” Mr Ramsey said. “But the sudden reversal in fortunes of the local manufacturing sector has been particularly stark. Outside of periods of lockdown, Northern Ireland manufacturers recorded their biggest month-on-month fall in the output index since the PMI series began almost 20 years ago. “The U-turn in new orders has been significant too with a drop of over 20 points between April and June. In June, local manufacturers saw orders slump at their fastest pace (outside of lockdowns) since April 2009. “Despite a notable deterioration in demand conditions, all four sectors increased their

staffing levels at a faster rate in June. This highlights that skills shortages remain a capacity constraint for local firms. The cost-ofliving crisis coupled with competition for staff has fuelled pay pressures and added to the cost-of-doing business crisis. “In June, input cost inflation remained close to its recent highs with services firms reporting a record rise in their cost base. Outside of employment, positive news remains in short supply in the latest survey though there are some signs that supply chain disruption could be easing.” Mr Ramsey said while many manufacturers have benefited from the NI Protocol “the current political impasse be-tween the UK Government and the EU raises concerns over the durability of these benefits and therefore how the trade agreement will evolve”. ■

BUSINESS SHOWCASE WITH ULSTER BANK

Paving the way for a multigenerational family firm Gibson Paving saw a surge in business during Covid-19 and demand has continued post-lockdown. Fred Gibson and daughter Sharon are continuing to grow their successful high-end paving and outdoor living business, and maintaining a relationship with Ulster Bank which has spanned four decades Alan Gibson, Gibson Paving, Martin Convery, Ulster Bank and Sharon Gibson, Gibson Paving

ibson Paving’s long relationship with Ulster Bank started out four decades ago when a young budding entrepreneur wanted £500 to start a business, but found little success elsewhere. The Ballymena-based business was set up by Fred and Ruth Gibson in 1985, with the next generation now taking starting to take the reins, which includes daughter Sharon. “The business today is around outdoor living for the homeowner,” Fred says. “The pandemic has helped that to happen – but it was also the determination from ourselves and the vision of the workforce.”

Gibson Paving, which has a workforce of around 20 staff, specialises in high-end paving packages for its customers, with the majority of its business now geared towards the home and domestic market. “Our niche is the complete supply, fit and install – from start to finish,” Sharon Gibson says. “I’ve been in the business for 15 years and at the start we were very commercially driven. Within the last 15 years we have flipped that on its head and we are very domestically driven now. “When we hit Covid-19, our teams were off on furlough for seven weeks. It’s something you have to navigate yourself as a boss and as a

family, to figure things out. “Everyone then came back to work… in terms of the business as a whole and with people starting to filter back, the business just spiralled as people weren’t going on holiday [and were staying at home], for example. Two years down the line and we are probably as busy as we were then.” And Fred says the firm continues to be in a strong position, with a good order book ahead. “We are in a very strong position… if it wasn’t a family business we wouldn’t be in as strong a position,” he says.

Martin Convery

BUSINESS SHOWCASE WITH ULSTER BANK

collaboration is crucial. A big part of my role is supporting SMEs and business owners to fulfil their growth ambitions, and, in my view, this can only be achieved when we work together. Whether we are supporting a customer to update software or facilities, or even backing them to refurbish existing premises, projects have a greater success rate when all parties have a clear understanding of objectives, deliverables, and everything in between.

Tapping into support key in challenging times By Martin Convery, business development manager, Ulster Bank

aving the way to success can mean different things to different business owners. Each individual or organisation will have their own idea of what success looks like to them and an understanding of where they want their journey to go. While there may not be a formulaic method to growing a business, you often see entrepreneurs share many of the same traits and characteristics. After a visit to the Balmoral Show back in the springtime, I was struck by the importance of partnership. Indeed, the show is delivered in partnership with Ulster Bank and walking around visiting the various exhibitors and trade stands, it is clear that this collaborative approach has brought significant growth and enhancement to the event. One company which had an especially successful time at the show is Gibson Paving. The north Antrim-based paving experts and long-time Ulster Bank customer picked up the coveted title of Best Overall Stand at the show and it’s no surprise. Key to Gibson’s success this year was their ability to reach out, forge links with other companies, and find ways to complement their own offering to capture the judges’ attention. As a relationship manager with Ulster Bank, this same level of

“The result of that is you knuckle down, you work hard together, motivate staff to keep them committed, you fill your yard with stock.” And the company’s relationship with Ulster Bank is something Fred says has been key to its success in its four decades in business. “Without Ulster Bank I wouldn’t be in business,” he says. “The journey has got really

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The current business climate is undoubtedly a challenging one and many SMEs will be feeling the pressure of rising costs, inflationary highs and labour shortages, to name but a few. It’s at times like these our teams are encouraging our business customers to tap into the support we can offer and learn more about the practical, positive things we can offer which may make a difference. Last month we introduced a package of support for our farming and agri-food customers to help this sector with cost challenges. Measures include capital repayment holidays and increased overdraft limits as many farmers face inflation of over 30% and price hikes in the region of 200% for fertiliser, gas and fuel. We have updated our online business hub which offers a wide range of useful tips and advice for all business owners, covering things like ways to prepare your business for the future and suggestions for becoming more resilient. But it also has more detailed information on how rising energy costs might impact your business and tools to help you anticipate costs so that you can better manage your cashflow. It is proving to be a useful resource and well worth taking the time to explore. Of course, even with the current challenges, there are also a lot of opportunities out there and at Ulster Bank, we believe this area will be led by green growth. Previous research carried out by our parent company NatWest found that just 10% of SMEs view climate action as a source of future growth and our teams are working hard to try and increase this figure through our green loan offering. A green economy brings new and exciting prospects for us all but as ever, the key to unlocking this growth is working in partnership with all the various stakeholders and taking a collaborative approach to realise the potential of this opportunity. Our teams are certainly up for this challenge and will continue to support SMEs as the heartbeat of our local economy.

good, bad and really positive.” Fred says his first conversation with the then manager was that he needed £500 to start his business, but says all he had was “a sow and a litter of pigs”. “If it hadn’t been for that man, Brian Gilbert in the Maghera branch, you wouldn’t be talking to someone who is going to be successful.”

Sharon says: “We want to keep doing what we are doing. The next couple of years we just need to get through this, whatever we are in right now, with the costs of things. “We are definitely seeing [rising costs]. We saw that early on in the pandemic. We’ve had to navigate that… we’ll take a bit, pass on a bit but sometimes your profit margins just have to drop that little bit.” ■

TITLE INSURANCE

Is inflation affecting your business? It may be time to review your insurance protection

ith labour costs increasing and ongoing supply chain issues, Northern Irish Businesses are navigating through one of the most unpredictable and challenging periods on record. Businesses are becoming increasingly concerned about continued rising inflation, which is not only a challenge to the day to day running of the business but it may also impact the level of insurance cover that needs to be in place. Making sure that your business has the right cover to suit your needs should be a serious consideration for your business. Depending on the type of business you own, the insurance cover you need to have in place should be specific to you and your businesses risks. Whether you are selling products online from your home office or you own a large enterprise there are risks associated with every

type of business therefore it is important to have the right protection in place. Business insurance protects you from an array of risks such as: loss, theft and damage to equipment, property damage, business interruption, employee sickness or injury in the workplace, public injury or property damage caused by your business, third party business or financial loss caused by your work. AbbeyAutoline’s dedicated team of experts take the time to understand your needs. We appreciate that business insurance can be a minefield so we don’t expect you to be an insurance expert, our business team will keep you right when it comes to the details of your policies, explaining all the insurance jargon and what additional benefits might be suitable to boost your cover. We have a team of commercial experts who are dedicated to helping you to put in place the right types of cover you will need. They

help advise and guide you through the various insurance options to consider and help you arrive at a suitable level of insurance cover specific to your business and individual needs. They will also guide you through the many industry specific legal regulations and obligations you may also need to consider. Your broker will help you assess any additional elements of cover you may need, so you have a tailored package that safeguards you against a wide range of risks to your business. Our brokers work with some of the largest insurance companies across the UK and Europe and we are constantly working hard to negotiate the best possible prices and cover for our business clients. ■ At AbbeyAutoline our team of dedicated experts are ready to help. To find out how we can assist your business visit www. abbeyautoline.co.uk

PROFILE

Morgan Document Security: Family-run firm going strong after more than a century

organ Document Security is a family-run business with a century-long lineage and a strong reputation. It’s one of the leading document storage businesses here – working with clients from small business to industry and public sector giants. “We are a local family business which understands the Northern Ireland market,” David Dunlop, director, says. “We have been trading since 1915 when my great grandfather established a haulage company in Belfast. “He ran the company along with other members of the family, although it was his son William and, in turn, his grandson Raymond who developed the company into what was known as Morgan Removals. It became one of the best-known removal firms in Northern Ireland.” In the course of doing commercial removals, a gap in the market was identified to provide professional archive and document management services – such as storing commercial files and business records. “This has been our main focus for the past 20plus years,” David says. “We have customers from small SMEs who store 10 boxes and then there are the much larger clients, accountancy firms and solicitors for example, who might have tens of thousands of boxes. “Each customer is different, so we don’t have a ‘once size fits all’ approach, we work with customers to come up with arrangements that suit them and their specific needs.”

David Dunlop

Morgan Document Security offers secure document storage and retrieval, vault storage for media and deeds, along with secure shredding and scanning in its 40,000 sq ft depository in east Belfast, where the company has been trading for the last 30 years. “When people think of secure document storage they tend to have an impression of dead storage, for example, boxes of files or records which sit there and don’t move. “Actually, the opposite is the case,” he says. “Of course, there will still be customers who store their records with us and will not need regular access to them; however, many of our customers deposit their ‘live’ records with us and require regular daily retrieval of files, boxes and media. “They can get what they want on a daily basis and free up the office space they need to run their business efficiently.

“Our facility is a busy one, and we have a great experienced team who help make everything run smoothly. “The day-to-day operation involves deliveries and collections of various types of records from and to customers’ offices. “All records leaving or coming to our secure facility are barcoded for traceability, so we can tell (at any time) where an individual item is, who it was delivered to and when. This gives the customer complete peace of mind. “The last few years have been challenging for most business sectors and ours has been no exception. As a key business we remained open the whole way through the recent pandemic, which was certainly very challenging, however it is a testament to the dedicated team we have here that we have continued to grow and been able to adapt to the changing economic landscape.” ■

NEWS

Nick Whelan

Dale Farm posts record £591m turnover D

airy giant Dale Farm has reported its highest ever turnover and profit, but warned the business was facing “unprecedented market inflation”. Dale Farm is owned by more than 1,300 dairy farmers who supply the co-operative with milk. The business owns some of our most famous consumer brands, including Dromona butter, Spelga yoghurt and Mullin’s ice-cream. In the financial year ending March 2022, the average amount of milk produced for each farm increased by almost 4%. Overall group turnover at the co-operative was £591m, up from £524m. Group operating profit was reported at £25.6m, up from £14m. Net profit before tax was £22.1m – more than three times the

previous year’s level of £8.2m. Dale Farm said it had also been paying its farmers the highest-ever price for milk at 33.88p per litre, up nearly 6p on the year before. “I am pleased to see this strong performance by our cooperative and the talented people within it,” Nick Whelan, group chief executive, said. “Our focus is ensuring that our business is as efficient and profitable as possible so that we can pay the most competitive milk price, while also building a stable future for Dale Farm and the farmers who own our cooperative. “In recent years turnover has grown by 60% and profits have almost tripled. Achieving that means constantly adapting to change and taking difficult decisions, reviewing those areas

that can no longer deliver for us, and investing strongly in those that do. “This year’s results are evidence that this approach is working.” But he said challenging business conditions meant adapting to change and taking difficult decisions was more important than ever. “The current level of unprecedented cost inflation will require focused management. At the same time, we need to proactively ensure we have a suitable asset replacement programme in place that maintains and builds processing capacity for future growth.” The agriculture sector has been badly hit by rising prices of raw materials such as fertiliser. The price of grain and wheat has also been affected by Russia’s invasion of Ukraine. Together, they export more than a quarter of the world’s wheat.

PROFILE

Noel Brady: non-executive directors key to public and private sectors

oel Brady’s some 45 years of experience in both the public and private sectors have seen him working with a host of major organisations and businesses right across industry and government. He has just been appointed by caretaker Economy Minister Gordon Lyons as chairman of the Construction Industry Training Board (CITB NI) – the organisation which trains and aims to imrpove the skills of those working across our construction sector. And Noel says the role of a non-executive director (NED) continues to be a key strand and resource for organisations across Northern Ireland and in all sectors. “I’ve been an executive director, non-executive director and chief executive in my years working across both the public and private sectors,” Noel says. “The role of non-executive directors is of great importance to organisations and businesses across the sectors, working as an independent arm in the organisation. “It’s a key responsibility to help steer and mentor the company directors, focusing the company on its strategy. You are working to help keep the boards operating efficiently. That includes areas such as law, strategic guidance and providing assistance through your experience. “The independence and mentoring in terms of helping the executives is important – forging strong relationships between the chairman and the chief executive, and the rest of the executive team.

“Public sector roles have to abide by the Nolan principles. That’s a focus on integrity, selflessness, objectivity, accountability, openness honesty and leadership. “Meanwhile, private sector roles tend to

Noel Brady

be more business oriented. Companies are looking for people who can understand strategic investment, build relationships and have specialist knowledge to assist the board when issues arrive.” Noel’s own company Nb1 was formed in July 2004 to meet a developing need in the UK public and private sector marketplace for expert and experienced executive support services. Some of his other current roles include finance non-executive director with the South Eastern Health & Social Services Trust, chairman of Continu Group Ltd, as well as his key work as an experienced public sector tender writer. In his newly appointed role with the CITB NI, Noel says his job is to chair the board of directors for the organisation and look at a range of key areas such as its budget, monthly

accounts, new schemes and programmes and liaise with other sections of construction. As an industry training board and sector skills council the role of the CITB is to encourage the adequate training of those employed, or to be employed in the construction industry, and improve their skills. Noel says he’s also continuing to help bring in and grow existing businesses here. “There really is a great interest in NI and a substantial number of companies looking at the market here, across all sectors.” “The other side of my business is writing public sector tenders on behalf of clients. That continues to be one of my favourite things to do – I look at it as an art form.” ■ Find out more at www.nb1.co.uk or email noel@nb1.co.uk

IN FOCUS

‘We want to grow to 500 people and hit £50m in sales next year’ Jans Group is a business not much older than the Covid-19 pandemic itself, but in that short time its expanded into three arms, grown its workforce from just a handful of staff to more than 200, has plans increase that to 500, hit a target of £50m in sales and double the size of its Antrim base. Its chief executive Ronan Hamill speaks to John Mulgrew

utting the foot down and growing the arms of an already very fresh business during a global pandemic may not immediately seem like the right move. But Ronan Hamill’s Jans Group has expanded from just a couple of dozen workers last year, to a three-company group with a workforce of more than 200. And he’s planning to double its already expansive 10,000 sq m Antrim base, grow its headcount to 500 and expand sales to £50m. Jans Group now comprises of three arms – ETRUX, which specialises in electric vehicles, Jans Lifestyle, focusing on high-end campervan conversions, and Jans Offsite Solutions, building high-end lodges and modular housing. The strand linking these businesses is a specialism in composites and similar skills, an element of the business which carried over from boss Ronan Hamill’s former employer, and sparked the seed for the already booming business.

Ronan spent a good chunk, almost 20 years, at Caterpillar, with global responsibility for one arm of the business. “I then worked in Wrightbus as managing director of parts of the business, followed by a

stint at processing manufacturer Terex.” Jans Group started out with a small composite business out of Wrightbus, after the then company went into administration and before the overall buyout by Jo Bamford. It then secured its Caulside Drive site a year later – a huge 10,000 sq m development which Ronan and his team then had to figure out how to fill. “The idea for the companies really came as a by-product of setting up a 10,000 sq m factory and filling it with something which is tangible and meaningful. “Peter [Drayne] had that spark to buy the site and something of a decent scale. “We have used a broad range of talent… people with serious background in industry. We put that all together and developed a road map. “Each of the businesses all needed to have some use of advanced materials, so we are building on the composites. Electric vehicles for example, have lightweight composites, and the leisure, and we have developed bathroom pods, for example.” The electric vehicle business sells and leases commercial vehicles between 3.5 and 12 tonnes.

“We set up a rental business in England. They are so expensive to buy in their own right so we realised if people were going to transition it would be a rental, not an outright acquisition.” The firm has since set up a similar model working with leisure vehicles. “That is going well. We build the vehicles, finance them and put them onto a rental fleet and provide that service on the rental side. “We also have a decent sales arm through that. They are traditional Volkswagen camper vans… we kit out the whole camper conversion. It’s typically about 60% of the value.” Turning to the Jans Offsite Solutions business, Ronan says they are high-end products, typically in excess of £100,000. “We have signed up customers across Scotland and England,” he says. The company started with just two dozen people at the beginning of last year. But it’s since gone on to crack the 200 staff mark, little over a year later. “We would like the business to grow to 500 people,” Ronan says. “It would be a number which is feasible within our current levels. “We are getting on a run rate which would see us achieving £50m next year. We are around £35m to £40m this year.”

IN FOCUS

Ronan Hamill

Ronan says sales within the lodge business are approaching £20m but that’s set to double by next year. “That’s really driving us to drive our site and being able to double our floorspace from 10,000 sq m to 20,000 sq m. “We are trying to shake off some of the historic elements of Wrightbus and we had to develop our own brand and we have our own cultural feeling in this site. We are not a corporation or family business, we are basically a few entrepreneurs trying to make a go of it.” Turning to the impact of Brexit and the NI Protocol, Ronan says the latter hasn’t hindered much in terms of trade, but also has the potential advantage of making Northern Ireland a more attractive place to do business. “I’d say the NI Protocol hasn’t really gotten in the way of our particular products,” he says. “The only one area has been the war in Ukraine. A lot of our initial purchases for wood were coming through Russian agents… that all ceased.

AUGUST 2022

“The general drive on increasing costs of materials – commodity pricing. For example, bath building components. The wood we buy and vehicles are problematic [with] the supply chain challenges in Europe caused by the knock-on effect of the war. “The NI Protocol has been a potential advantage as [people] are seeing Northern Ireland as a friendly place to do business. “When we talk to our customers, they know it will be a friendly place and long-term it could be a potentially a very good opportunity for our types of products.” And he said one of the main impacts of Brexit on the business is losing EU nationals from its workforce. “[At one stage] we probably had three or four families that had to move back out of Northern Ireland because of visa structures. “A family might have been mum and dad, and

two kids, and their partners. Six people in a tight knit group who all worked here. When you lost one you were losing six people.” He says he continues to struggle to get skilled tradespeople and workers for specialisms within his sector, as well as those in less-skilled roles. The majority of the group’s trade happens outside of Northern Ireland, with the bulk taking place elsewhere in the UK. And while it has little trade with the Republic, Ronan says that’s a market it’s now looking to break into. “One of the major challenges is finding the people,” Ronan says. “We have moved up from 24 to 200, so we have been successful and have built up steadily. If we can continue that we should be in a good position with the new site and the ability to take on that additional capacity of work and get towards that number of 500 people.” ■

TOP 100

Profits soar by 46% across Northern Ireland’s Top 100 The Ulster Business Top 100 Northern Ireland Companies 2022, with A&L Goodbody, highlights extremely strong performances across the sectors, with sales up and pre-tax profits soaring, based on last year’s figures. It’s been brought together using data from Dun and Bradstreet and Companies House. Our analyst Jonathan Cushley breaks down the key numbers and trends

he Ulster Business Top 100 Northern Ireland Companies 2022, with A&L Goodbody, shows that exceptional profit results have been posted by our top businesses. The performance of the Top 100 Northern Ireland companies shows growth across sales, and pre-tax profit and shareholder value – with year-on-year pre-tax profit for the companies showing 46% growth. The Ulster Business Top 100 listing incorporates the results of Northern Ireland-based companies, either Northern Ireland-registered or when a significant portion of their business is driven and transacted through Northern Ireland. In the vast majority of cases the figures utilised in compiling the listing correspond to either early 2022, 2021 or late 2020 financial year ends Jonathan Cushley

Since the inception of the Top 100 listing in 1989, turnover has been used as the key identifier of performance, however, we also review pre-tax profit and shareholder value (tangible net worth) providing a stronger, more succinct rounded view on individual company and Top 100 performance. SUMMARY The Top 100 companies continue to perform well in extremely trying economic circumstances. The impact and in a few cases the benefit of the Covid pandemic can be seen within the listing with a large proportion of companies struggling to maintain turnover levels.

As a result, sales have grown by a relatively modest 2.6% to £27.7bn from £26.1bn (yearon-year comparison). This 2.6% growth is down from the 10.4% growth recorded in the 2021 Top 100 listing.

TURNOVER Sales generated by the companies listed in the 2022 Top 100 increased modestly by 2.6% to £26.7bn from £26.1bn.

It is however, the generation of pre-tax profits where the companies have excelled this year with results posted of £1.367bn against a prior year figure of £936.8m. This represents pre-tax profit growth of 45.9% and a pre-tax profit margin of 5.1%, up from 3.7%.

Companies within the 2022 Top 100 have seen some exceptional sales performance, W&R Barnett Ltd, the international commodity trading, storage and agri-business based in Belfast, continued its strong sales performance and is closing the gap on the perennial number one placed company Moy Park.

Tangible net worth of the Top 100 remains high sitting at an all-time peak of £8.6bn.

John Henderson (Holdings) Ltd ranked third in the listing are closing in on breaking the £1bn

TOP 100 barrier with continued year-on-year sales growth. Almac Group saw turnover rise by 8.6%, Power NI Energy Ltd by 8.4% and SHS Group Ltd by 15%. Randox Holdings Ltd, the largest diagnostics company within the UK and Ireland, has risen up the listing significantly to number 11 and posted 283% sales growth. Sales rose from £218.4m for the 18 months to 30/06/2020 to £619.2m (30/06/2021). McAleer & Rushe Contracts (UK) Ltd, the Cookstown-based construction company saw turnover grow to £400.5m, a 38.1% year-on-year growth, and a mention of Top 100 new entrant – Fourds Ltd (Bloc Blinds), the Magherafelt-based blind and personal protection equipment manufacturer which entered the listing at 77 with turnover of £101.9m, increased from a prior year of £13.7m.

Justin Coleman

Top 100 sales (£b)

While the sales growth is positive it should be noted that some 38 of the Top 100 posted reduced year-on-year turnover figures, an indication of the difficult global market conditions our largest businesses are continuing to experience.

30 25 20 15 10 5 0 2014

2015

2016

2017

2018

2019

2020

2021

TOP 10 MOST PROFITABLE COMPANIES Company

Profits (£m)

Profit margin (%)

Top 100 rank

Randox Holdings

225.5

36.4

Schrader Electronics

97.0

42.4

NI Electricity Networks

87.1

29.3

Moy Park Ltd

82.7

5.7

Almac Group Ltd

80.8

11.0

Power NI

80.5

11.2

Encirc Ltd

58.6

17.5

Northern Ireland Water

58.3

13.9

W&R Barnett Ltd

51.3

4.0

Kainos Group plc

50.3

21.4

AUGUST 2022

PROFITABILITY As headlined the pre-tax profit of the Ulster Business Top 100 increased by an impressive 45.9%, with strong performances from a number of companies. Pre-tax profit now sits at £1.367bn up from £936.8m. This performance represents an overall increase in profit margin (sales/pre tax profit) across the listing of 5.1% compared to prior year of 3.7%. In simple terms, for every £100 in sales the companies will generate nearly £5.10 in profit before tax. Of the 100 companies only eight declared losses for their last financial year. The biggest impact on the Top 100 performance came from Short Brothers plc which posted losses of £299.5m (after currency adjustment), and Thompson Aero Seating Ltd, which posted losses of £57m. In total the eight companies lost a combined £416.3m. Randox Holdings Ltd is now the most

TOP 100

equates to profit/tangible net worth as a percentage –15.9%. As a benchmark a shareholders return of 15-20% is considered good, however this measure can be industry specific. Sales-to-equity ratio defined as turnover/ tangible net worth, indicates how many pounds are generated with each pound of investment – for the latest filed results this equates to 3.11. EMPLOYEES A total of 101,302 people were employed by Northern Ireland’s largest companies, a figure reduced from the prior year’s number of 104,210. Each employee within the listing accounted for £264,018 of sales (sales/employee) and £13,496 profit (pre-tax profit/employee). The Top 10 companies employ over 31% of the total Top 100 workforce.

Claudine Heron

profitable business in NI, posting profits of £225.5m against sales of £619.2m, with a margin of 36.4%. A number of companies posted strong yearon-year pre-tax profit growth – Huhtamaki Foodservice Delta Ltd (521.8%) Kainos (220.6%), Schrader Electronics (265.5%) to name a few. Northern Ireland Transport Holding Company, turned a £65.4m loss posted in 2020 into a £49m profit.

Top 100 profit (£m) 1600 1400 1200 1000 800 600 400 200 0 2014

TANGIBLE NET WORTH (SHAREHOLDER VALUE) The final measure of a company’s success that we review its value to its shareholders. In its simplest form this is calculated as the shareholders funds (issued capital) and retained earnings – intangible assets. The value of this year’s Top 100 Northern Ireland Companies to their shareholders sits at £8.6bn. Eight of the companies showed a negative tangible net worth, a condition in which a company’s liabilities exceed its assets.

2015

2016

2017

2018

2019

2020

2021

Top 100 shareholder value (£m) 9000 8000 7000 6000 5000 4000 3000 2000 1000 0

The shareholder return for the 100 companies

2014

2015

2016

2017

2018

2019

2020

2021

TOP 100

TOP 10 MOST VALUABLE COMPANIES

TOP 10 LARGEST EMPLOYERS

Company

Tangible net worth (£m)

Top 100 rank

Number of employees

Top 100 rank

NI Water

1,057.9

Moy Park Ltd

9,620

Queen’s University

772.8

Almac

4,558

NI Electricity Networks

471.9

Queen’s University

4,359

Almac

439.4

John Henderson Holdings Ltd

4,171

Moy Park Ltd

372.5

Northern Ireland Transport Holding Co

4,087

Encirc Ltd

355.3

Glen Electric Ltd

3,799

Glen Electric Ltd

322.1

Short Brothers plc

3,222

Ulster University

310.0

FD Technologies plc

2,766

Seagate Technology (Ireland)

296.0

Ulster University

2,399

W&R Barnett Ltd

271.1

Allstate Northern Ireland

2,298

Company

TOP 100 BUSINESSES BY LOCATION

GEOGRAPHY Since the inception of the Top 100, some 34 years ago, we have periodically reviewed the geographic locations of the included companies.

14 17 10 3

When looking at geography, the address of a company’s registered ofﬁce is used as a primary source of location.

31 n Co Antrim

n Belfast

n Co Fermanagh

n Co Armagh

n Co Down

n Co L’derry

NOTES A date of 28/06/2022 has been used as a cut of the inclusion of accounts within this compilation of the Top 100 Listing. Data has been compiled through an amalgamation of information from Dun & Bradstreet and Companies House. 1 Short Brothers plc, Schrader Electronics Ltd and Seagate Technology (Ireland) all file annual accounts in US dollars, Lakeland Dairies (NI) Ltd files annual accounts in euro. To allow for fair comparison the companies figures have been converted to sterling at the currency conversion rate applicable at their fiscal year end.

AUGUST 2022

Currently 62 companies are located in the east of the province, with 38% companies located in the rest of the region.

n Co Tyrone

2 Golf Holdings Ltd owns both James E McCabe Ltd and Philip Russell Ltd. Golf Holdings does not file consolidated accounts and therefore both subsidiary companies are included in the listing providing a fair reflection of their standing. 3 Musgrave Distribution ltd and Musgrave Retail Partners (NI) Ltd are separate legal entities filing individual accounts in Northern Ireland. 4 Randox Holdings Ltd – prior year results relate to an 18-month period.

AVERAGE Based on the Ulster Business Top 100 listing, the average of NI’s largest companies would have a turnover of £267.5m, generate pre-tax proﬁts of £13.7m, have a tangible value of £85.8m and employ 1,013 people.

5 Mac-Group Holdings Ltd, Creagh Concrete Products Ltd, Heron Bros Ltd and Budget Energy Ltd have all filed annual accounts relating to an 18-month period. 6 John Hogg & Co Ltd has filed annual accounts relating to a 17-month period. For benchmarking purposes comparisons have been made with previous Top 100 editions. These comparisons will include results for companies that are no longer included in the current Top 100 listing, this is due to the fluidity of financial performance.

Proﬁles by John Mulgrew Photography by Elaine Hill

Sponsored by

1-20 Rank

Rank

Company

2022

2021

Activity

Moy Park Ltd

W&R Barnett Ltd

John Henderson (Holdings) Ltd

John Graham

Almac Group Ltd

LCC Group Holdings Ltd

Power NI Energy Ltd

Ballyvesey Industries Ltd

Glen Electric Ltd

SHS Group Ltd

Randox Holdings Ltd

Charles Hurst Ltd

McLaughlin & Harvey Holdings Ltd

Dale Farm Ltd

Short Brothers (Spirit AeroSystems)

P&O Ferrymasters Ltd

Isaac Agnew Ltd

Northern Ireland Water Ltd

McAleer & Rushe Contracts UK Ltd

Poultry processor

Grain importer

Food wholesale and retail

Construction

Pharmaceutical manufacturer

Fuel wholesaler

Electricity supplier

Commercial vehicles

Electrical manufacturer

Wholesaler

Medical testing

Motor retailer

Construction

Dairy processor

Aerospace

Freight transporters

Caterpillar (NI) Ltd Generator manufacturer Motor retailer

Utility

Construction

Year ending

Turnover £000s

Profit/loss Prev profit Net worth

Latest sales

Previous sales

£000s

31/12/2020

1,458,445

1,580,444

82,656

70,033

372,505

31/07/2021

1,274,825

1,135,843

51,289

43,742

271,177

31/12/2020

956,647

918,062

28,495

32,340

221,434

31/03/2021

808,097

853,257

12,133

11,293

77,805

30/09/2021

735,071

677,254

80,782

63,550

439,413

30/09/2020

717,842

924,104

28,765

32,107

242,996

31/03/2021

717,700

662,200

80,500

24,600

118,300

30/09/2021

667,727

613,113

19,298

538

89,850

30/09/2020

659,439

742,074

-36,160

-14,594

322,132

01/01/2021

655,568

569,981

23,140

19,566

53,958

30/06/2021

619,229

218,406

225,462

-15,144

242,627

31/12/2020

550,506

660,537

2,329

5,434

67,994

31/12/2020

480,345

513,445

5,875

11,486

57,112

31/03/2021

459,005

446,038

4,920

9,724

65,446

31/12/2020

453,819

651,135

-299,495

-22,434

-392,259

31/12/2020

446,024

458,257

3,808

5,101

12,435

31/12/2020

439,472

488,053

7,081

-13,615

140,562

31/12/2020

437,168

496,236

15,359

13,042

46,270

31/03/2021

418,906

429,114

58,272

84,466

1,057,875

31/12/2021

400,534

290,054

15,020

8,685

54,172

Data provided by Dun & Bradstreet T: 0800 001 234

21-40 Rank

Rank

Company

2022

2021

Activity

Queen's University

Foyle Food Group Holdings Ltd

Northstone (NI) Ltd

Lidl Northern Ireland Ltd

FP McCann Group Ltd

Encirc Ltd

Terex GB Ltd

Lakeland Dairies (NI) Ltd

Musgrave Retail Partners NI Ltd

Northern Ireland Electricity Networks Ltd

Northern Ireland Transport Holding Co

Nicholls' (Fuel Oils) Ltd

Donnelly Bros Garages (Dungannon) Ltd

FD Technologies plc

Westland Horticulture Ltd

Kainos Group plc

Norbrook Holdings Ltd

Schrader Electronics Ltd

SSE Airtricity Energy Supply (NI) Ltd

University

Meat processor

Building materials

Retailer

Concrete engineering

Glass manufacturer

Engineering

Dairy processor

Food wholesaler

Electricity generator

Public transport

Fuel distributor

Motor retailer

Financial services software

Horticulture

Ulster University

University

Digital services

Pharmaceutical manufacturer

Tyre pressure gauge manufacturer

Electricity supplier

Year ending

Turnover £000s

Profit/loss Prev profit Net worth

Latest sales

Previous sales

£000s

31/07/2021

397,469

376,997

24,694

54,838

772,844

01/01/2021

381,860

370,737

9,229

5,179

34,194

31/12/2020

362,514

383,506

-6,866

10,643

43,116

28/02/2021

345,380

278,194

8,627

2,077

42,703

31/12/2021

342,104

259,320

34,041

20,617

202,287

31/12/2020

335,667

326,959

58,564

39,602

355,297

31/12/2020

318,381

429,490

33,442

59,232

50,126

26/12/2020

316,220

247,712

216

217

-7,462

02/01/2021

308,025

277,105

3,399

1,100

19,295

31/12/2021

297,000

302,200

87,100

92,700

471,900

28/03/2021

292,577

225,851

48,982

-65,426

-91,340

31/05/2020

278,633

348,996

6,087

2,307

79,638

31/12/2021

264,399

252,364

5,910

1,458

23,036

28/02/2022

263,463

237,867

8,999

11,147

36,932

29/08/2021

254,035

208,034

25,612

14,531

75,211

31/07/2021

239,215

214,619

18,227

16,577

310,014

31/03/2021

234,694

178,778

50,341

22,843

81,199

30/07/2021

231,351

211,716

27,348

4,232

156,838

31/12/2020

228,680

285,909

97,035

36,549

201,073

31/03/2021

220,937

226,395

28,608

10,677

66,621

Data provided by Dun & Bradstreet T: 0800 001 234 AUGUST 2022

41-60 Rank

Rank

Company

2022

2021

Activity

Devenish (NI) Ltd

Linden Foods

Coca-Cola HBC Northern Ireland Ltd

Lacpatrick Dairies (NI) Ltd

Greenfields Ireland Holdings Ltd

Lamex Foods Europe (NI) Ltd

Fane Valley Co-operative Society Ltd

Tayto Group Ltd

Mac-Group Holdings Ltd

Severfield (NI) Ltd

Gilbert-Ash Holdings Ltd

Brett Martin Ltd

Maxol Oil Ltd

Creagh Concrete Products Ltd

Gardrum Holdings Ltd

Musgrave Distribution Ltd

R&H Hall Trading Ltd

Seagate Technology (Ireland)

Animal nutrition

Food processor

Drinks manufacturer

Dairy processor

Dairy producer wholesaler

Food distributor

Dairy processor

Snack manufacturer

Office fit-out

Engineering

Construction

Construction supplier

Fuel distributor

Concrete manufacturer

Auctions

Grocery wholesaler

Animal feed

Hard drive manufacturer

Haldane Group Ltd Building producer distributor

Thompson Aero Seating Ltd Aircraft seat manufacturer

Year ending

Turnover £000s

Profit/loss Prev profit Net worth

Latest sales

Previous sales

£000s

31/05/2021

216,416

226,425

1,567

757

1,209

26/09/2020

208,958

200,684

2,282

1,653

21,730

31/12/2020

204,739

232,100

33,235

16,397

99,830

26/12/2020

200,010

219,132

-2,147

-5,534

6,483

31/12/2020

193,578

201,662

622

613

6,857

31/03/2021

192,083

178,151

2,304

1,697

7,736

30/09/2020

190,612

155,429

14,275

7,204

98,050

26/06/2021

186,761

207,157

-1,349

1,523

56,651

30/06/2021

183,474

161,550

-5,107

-4,568

9,389

31/03/2021

181,990

139,263

17,516

16,488

26,711

31/12/2020

176,156

163,089

10,963

5,602

21,370

31/12/2020

165,059

136,236

8,386

5,539

37,457

31/12/2020

162,505

209,442

3,999

4,016

22,874

30/09/2020

157,384

95,570

155

15,537

31/12/2020

145,619

143,741

28,439

25,177

128,687

02/01/2021

140,566

100,741

320

-125

31/07/2021

137,703

107,647

842

521

8,849

02/07/2021

136,244

120,609

10,449

10,258

295,982

31/12/2020

132,254

130,643

7,127

4,821

36,033

31/12/2020

132,240

180,993

-57,002

-144,487

-158,685

Data provided by Dun & Bradstreet T: 0800 001 234

61-80 Rank

Rank

Company

2022

2021

Activity

Allstate Northern Ireland Ltd

Heron Bros Ltd

SDC Trailers Ltd

Coolkeeragh ESB Ltd

Diageo Northern Ireland Ltd

Savage & Whitten Holdings Ltd

A H Fuel Oils Ltd

Lynn's Country Foods Ltd

Cranswick Country Foods (Ballymena)

SONI Ltd

McCloskey International Ltd

EP Kilroot Ltd

Stena Line Irish Sea Ferries Ltd

Balcas Timber Ltd

Mzuri Group Ltd (Decora)

Fourds Ltd (Bloc Blinds)

Dunnes Stores (Bangor)

Huhtamaki Foodservice Delta Ltd

John Hogg & Co Ltd

Software development

Construction

Manufacturer

Power generator

Drinks manufacturing

Wholesaler

Fuel distributor

Food manufacturer

Meat processor

Electricity distributor

Engineering

Power generator

Freight and passenger ferries

Timber manufacturer

Manufacturer

Eakin Healthcare Group Ltd Medical manufacturer

Manufacturer

Retailer

Manufacturer

Head office activities

Year ending

Turnover £000s

Profit/loss Prev profit Net worth

Latest sales

Previous sales

£000s

31/12/2020

128,431

125,519

8,750

10,716

57,059

31/08/2020

128,379

106,851

14,535

5,433

120,143

31/12/2020

128,063

176,228

1,661

2,683

47,607

31/12/2020

126,678

137,419

17,048

26,470

33,590

30/06/2021

126,618

134,030

2,854

2,536

13,538

31/12/2020

125,955

103,410

5,001

2,919

9,057

31/12/2021

125,509

107,749

1,032

1,871

6,158

27/02/2021

120,080

141,978

6,122

42,343

67,590

27/03/2021

116,915

115,458

7,613

9,857

21,088

30/09/2021

114,286

106,006

5,984

-617

28,102

31/12/2020

114,222

121,576

7,601

5,417

36,641

31/12/2020

111,887

105,092

12,781

-1,122

54,561

31/12/2020

110,322

112,005

10,566

22,149

28,376

31/12/2020

109,994

108,671

7,221

7,790

23,964

31/12/2020

109,367

87,795

6,416

6,644

14,144

31/03/2021

102,119

88,761

22,262

22,749

32,098

30/04/2021

101,899

13,675

27,374

1,972

11,514

26/12/2020

101,756

113,611

-8,131

-661

37,198

31/12/2020

100,391

62,282

18,055

3,460

49,734

30/09/2020

100,295

60,620

3,285

2,588

41,726

Data provided by Dun & Bradstreet T: 0800 001 234 AUGUST 2022

81-100 Rank

Rank

Company

2022

2021

Activity

T.W. Scott & Sons (Fuels) Ltd

Lagan Homes Group Ltd

Strathroy Dairy Ltd

N&R Gordon Ltd

McBurney Transport Group Ltd

Kingspan Water & Energy Ltd

Firmus Energy (Supply) Ltd

Philip Russell Ltd

Seatruck Ferries Ltd

The Sycamore Avenue Company Ltd

Mutual Energy Ltd

Magir Ltd

Budget Energy Ltd

100

James E McCabe Ltd Drinks distributor

Fuel distributor

Construction

Dairy processor

Pharmacy

Freight

Building manufacturer

Energy supplier

Drinks distributor

Staffline Recruitment (NI) Ltd Recruitment

MRP Land Ltd Activities of holding company

Dartan Hall Holdings Ltd Pork production

Ferries

Activities of holding company

Choice Housing Ireland Ltd Social housing

Unilin Distribution Ltd Flooring retailer

Energy

Pharmacy

Energy supplier

Capita Managed IT Solutions Ltd IT systems

Year ending

Turnover £000s

Profit/loss Prev profit Net worth

Latest sales

Previous sales

£000s

31/12/2020

97,254

96,685

3,885

2,753

56,378

31/12/2021

95,525

77,883

1,254

1,965

5,254

31/12/2020

95,414

77,465

6,158

3,182

45,375

31/07/2021

94,765

81,037

482

584

8,131

30/04/2021

94,217

92,639

7,529

6,235

28,135

31/12/2020

92,131

92,048

7,723

3,777

29,935

31/12/2020

91,515

95,742

4,763

4,528

63,955

31/12/2020

90,108

99,474

4,065

4,277

-23,283

31/12/2020

85,101

81,924

2,392

2,056

21,875

02/01/2022

83,468

89,892

1,271

171

4,913

30/09/2021

83,394

96,410

26,940

28,182

183,666

30/09/2020

83,353

64,032

14,532

2,977

75,193

31/12/2020

82,282

87,582

3,075

973

14,761

31/12/2020

81,924

83,729

7,435

6,213

40,231

31/03/2021

81,676

75,288

12,840

11,739

138,106

31/12/2020

80,096

84,843

1,592

1,956

16,327

31/03/2021

80,041

72,044

13,169

11,160

-147,455

31/08/2021

79,418

77,725

391

-387

-27,170

31/03/2021

78,856

39,232

7,733

3,076

6,853

31/12/2020

78,595

82,510

6,257

6,971

73,092

Data provided by Dun & Bradstreet T: 0800 001 234

NEWS

Half a dozen new tenants set to move into City Quays 3 Belfast Harbour has seen a return to strong operating profits and turnover, is continuing to push on with the next phase in its City Quays scheme, Belfast Harbour Studios and is understood to be in the process of securing around half a dozen tenants for its flagship City Quays 3 office development, writes John Mulgrew

ore than a dozen new tenants look set to take up home at Belfast Harbour’s flagship £50m City Quay 3 office development with the focus on financial and legal services, it can be revealed.

Ships docked at Belfast Harbour

It’s understood a number of high-profile firms are at advanced discussions with the harbour. Joe O’Neill, Belfast Harbour chief executive, said: “The interest we have got at the moment broadly aligns with the profiles of customers in City Quays 1 and 2, and the areas you’d expect – predominantly legal services and financial services type companies. He said discussions were at “various stages” but are “all very positive”. Aflac will be among the building’s first tenants, taking on two floors at the high-end grand 16-storey building. Mr O’Neill was speaking as the harbour unveiled its annual report for 2021. The headline figures show a return to more buoyant numbers, with operating profits up 13% to £34m, while the harbour saw turnover increase by 17% in 2021, rising to £73.3m on the prior year. And in the latest report it says strong trading levels have “benefitted from the respective grace periods associated with the implementation of the NI Protocol” along with some diverted traffic from Dublin. Trade reached record levels during the year, with 25.6 million tonnes of cargo passing through the port, a 9% increase on the 23.5 million tonnes a year earlier and 5% above the previous record levels recorded in 2019.

But while Mr O’Neill said the harbour is on the whole not impacted directly by the NI Protocol “it is more our customers who are having to deal with the Protocol”. “We are removed from the NI Protocol substantially because we are an infrastructure provider… we are not and importer or exporter, nor do we do regulatory checks. To some degree we are removed and it is more our customers who are having to deal with the Protocol. “For us the most important thing is smooth flowing of trade through our terminals and wharfs. We have seen that because the regulatory checks to the extent that they are required today under the Protocol are taking place outside the boundaries of the port, so we have had smooth flowing trade and we would like that to continue. “That is our primary objective and (we would) wish (that to continue) as part of any outcome here.” In terms of its wider developments, it’s pushing on with the next phase in its City Quays

development, is wrapping up a tender for the huge expansion of the Belfast Harbour Studios, and is eyeing additional schemes. Joe O’Neill says plans for a 260-apartment build-to-rent scheme – City Quays 4 – are likely to be submitted before the end of the year. And City Quays 5 – a mixed-use scheme – could then follow, although remains at a much earlier stage of development. Mr O’Neill says the major expansion of the Belfast Harbour Studios could be done in two or three phases as demand increases. There are also plans for a new footbridge which would connect close to the SSE Arena on the other side of the lough. And longer-term plans for a new speedy zero-emission ferry service to Bangor, being developed by a consortium led by Artemis Technologies, could dock close to Donegall Quay when it finally gets out of the water – bringing visitors as close to the city centre as possible. ■

Justin Coleman

Moy Park

hile poultry giant Moy Park remains firmly at the top of this year’s list once again, it’s facing wider industry and economic headwinds with rising input costs, according to director Justin Coleman. Moy Park posted turnover of £1.46m for the accounting period ending December 2020, down from £1.58m a year earlier. However during the same period it saw its profits rising by around 18% to £82.7m. The company has topped the Ulster Business Top 100 Northern Ireland Companies list with A&L Goodbody, for the 11th year in a row. The company, which continues to be headed by Chris Kirke, has been owned by US giant Pilgrim’s Pride since 2017, and was formerly

under the Brazilian group JBS before that. Speaking about the last 12 months, Justin Coleman, agri-business and live production services director, says “it’s been another strong year” however inflation started to kick in and have an impact towards the second half of the year. “During the second half of the year inflation started to creep into feed, fuel and fertiliser,” he told Ulster Business. “Demand for poultry products is still strong as is demand for QSR products across nine different categories in retail. “Demand for nutritious, healthy and great value products is still out there but [there were] definitely headwinds in the second half of the year.” Looking at the next set of accounts, he said: “The top line view is that they wouldn’t be as strong as the previous year’s on the back of those headwinds during the second half of the year. “If you talk about a headline inflation figure, say it’s 9.1%, food inflation would probably be double that. “Obviously with our partners we have to work on getting those costs passed through. I don’t think we have topped out yet but that’s more of a 2022 problem as opposed to a 2021 challenge. “That will continue into 2022… the [war in Ukraine] happened in February and that drove a series of challenges around energy, fuel and fertiliser which has driven the cost of production up considerably.” And on the NI Protocol, something major

AUGUST 2022

agri-firms have said has helped business, Justin said: “We haven’t been impacted. Yes, there’s work and steps you need to step through but we are now cautiously [looking at] what’s the outcome over the next couple of months. “Up until now we have been operating within the parameters of the Protocol. “There are more administrative processes to go through but I wouldn’t say it has slowed our business down, you just have to deal with it and get on with it, and absolutely watch the opportunities that it creates on the back of that. “We will wait and see what transpires on the back of that.” Looking ahead, he said the business’s core remains here in Northern Ireland and it’s working to improve staff retention as companies across the region struggle with recruiting staff. “It’s business as usual. We remain headquartered in Northern Ireland and proudly Northern Irish, but spread across three geographies,” he said. “The big focus is people and creating opportunities for growth for people to join and stay in the business – pivoting away from recruiting to retaining people and continuing to grow peoples’ careers within the sector.” He says it remains “challenging” to recruit workers, like many other sectors across Northern Ireland. And on the Top 100 he said: “All recognition is nice. We hold ourselves to a standard about being the best in our sector… the recognition around scale, turnover and profitability are all nice indicators that we are doing a good job and striving to be the best in our industry.” ■

NEWS

Kainos could share Belfast headquarters site with student accommodation

new flagship Belfast headquarters for Kainos could sit next door to a large student accommodation building amid fresh plans by the IT service giant, it can be revealed.

Brendan Mooney of Kainos

Kainos had wanted to develop a 250,000 sq ft 12-storey building at the former Movie House cinema cite on the Dublin Road. But it has since said it is now planning a smaller scheme of around 100,000 sq ft. But the firm is now planning to divide the site and use the smaller section for its offices while the larger area could be developed into 400plus room student accommodation, another office building or apartments. The site is currently being used a social enterprise food market, which is now open to the public. Kainos, alongside commercial property firm Lambert Smith Hampton, is seeking a developer to build its office, and also a developer to buy out the remaining larger section for a separate scheme. Todd Architects have prepared indicative concept plans for a potential investor which include a student scheme of between 391 and 409 rooms, or alternatively office accommodation or residential apartments. Last year Brendan Mooney confirmed that the company will soon submit its own planning application for an office complex of around half that size. On the site which will become the Kainos head office it says “the primary objective in providing this development opportunity is for Kainos to achieve a landmark headquarters office building on part of the site, while the remainder portion of the site to be developed

out by the preferred developer for an appropriate use or uses.” “This new landmark building represents an exciting opportunity for Kainos to promote a work environment that will incubate new ideas for the business and faster collaboration among the work force,” it says. A spokesman for Kainos said: “Kainos has submitted a development brief outlining plans for its future headquarters at Bankmore Square. “The company has a requirement for office accommodation of approximately 100,000 sq ft to provide facilities for Kainos’ staff. In addition to inviting proposals for a single, dedicated office development, the development brief also invites proposals for shared use on the site. “Kainos is aiming for development to be completed and to move into its new

headquarters by mid-2026. In the meantime, the company has agreed to lease the former Bank of Ireland building situated next door to its current headquarters at Upper Crescent. “Kainos is seeking planning permission to refurbish the building to create additional social and collaboration spaces, as it continues to enhance and adapt its offices to support hybrid working. “Until the development of Bankmore starts, the site will be home to an ethical pop-up street food venture from the Belfast-based social entrepreneur, William Neill. ‘Trademarket’ is set to open for business in summer 2022, offering a place for the community to come together and playing host to the best of local food and independent retail vendors. The temporary lease also ensures the Bankmore Square site is utilised in a positive way now that Kainos have finalised its future office plans.” ■

PROFILE

Deloitte partners Marie Doyle and Kerrie Irvine pictured at Deloitte’s Technology Studio at the Gasworks in Belfast

Two new partners appointed at Deloitte in Belfast As Deloitte looks to drive further growth at its business in Northern Ireland and add to its team of more than 1,000 people in Belfast, it has promoted two of its most experienced directors to partner

at Bedford Square, a scheme centred on the regeneration and refurbishment of the historic Ewart Building.

Marie becomes a partner in Deloitte’s Northern Ireland Public Sector practice, while Kerrie has been made a partner in the firm’s Human Capital consulting business in Belfast.

In Northern Ireland, Deloitte announced a total of 297 promotions across the firm in June, with almost 100 people promoted to manager, 32 who have been made a senior manager, six who have been promoted to director level and two new senior directors.

eloitte has announced the appointment of Marie Doyle and Kerrie Irvine as new partners in its Belfast office.

Deloitte currently has a team of over 1,000 people in Belfast, around 800 of whom are part of its Consulting practice, and next year the firm will move into bespoke new offices

NEW PARTNERS Kerrie Irvine joined Deloitte’s consulting team as a graduate in 2005 and has worked with

clients in a range of sectors to deliver complex transformation programmes. In 2015 she began to build the firm’s Human Capital team in Belfast, a team supporting clients in the UK, Europe and globally, to successfully transform their businesses, growing the team to more than 200 people. Kerrie also leads Deloitte’s inclusion and wellbeing programme in Belfast, which ensures team members can be themselves at work and helps them thrive. Commenting on her appointment, Kerrie

Jackie Henry was awarded an honorary doctorate by Ulster University

PROFILE

success of the firm and the confidence it has in its next generation of leaders. “I have worked closely with Marie and Kerrie throughout their careers. Both are leaders in their field and bring extensive experience and expertise that will be invaluable as we continue to grow Deloitte’s presence in Northern Ireland,” she said. Jackie recently received an honorary doctorate from Ulster University, in recognition of the key role she has played in the economic prosperity and growth of Northern Ireland, and also for her advocacy of diversity, inclusion and social mobility, particularly in building skills and providing access to education.

said: “Our Human Capital team has become well known across the Deloitte network for providing high quality consulting services to our clients. Having joined as a graduate myself, I am proud to have been able to create professional career opportunities for people, including graduates and school leavers, here in Northern Ireland, to deliver local capability and talent to clients across the world. “I am committed to further scaling the team in Northern Ireland, working with our clients to help them deliver complex change ambitions and supporting our people to grow and develop their own careers.” Marie Doyle joined Deloitte in 2004 and has worked with a wide variety of public and private sector clients. An economist by background, Marie specialises in large scale technology enabled public sector transformation. Marie has led the development and implementation of transformed operating models for public sector organisations in

AUGUST 2022

policing, health, education and social security. She is a member of the CBI Northern Ireland Regional Council and is also on the board of directors of the British Irish Chamber of Commerce. Looking ahead at what she hopes to achieve as a partner, Marie said: “I am looking forward to continuing to grow the breadth of client work we do in the Belfast consulting practice and bringing the wider capabilities we have in Deloitte – such as robotics, cyber security, finance transformation and large-scale programme management and delivery – to clients in the Northern Ireland market. “Transformation of the public sector is a longterm challenge not only in Northern Ireland but across the world and Deloitte’s team in Belfast is well equipped to help clients manage that process.” FOCUS ON DIVERSITY Jackie Henry, office senior partner in Belfast and UK managing partner for people and purpose, said the promotions reflect the

Speaking about the level of diversity among the new partners appointed by Deloitte across the UK in June, Jackie said: “I am pleased to see progress in the representation of women and people from ethnic minority backgrounds at partner level across our UK firm. We are continuing to prioritise creating an inclusive and diverse workplace where there is equity of opportunity for everyone. “To ensure we continue to build on this progress, we have introduced a new Future Leaders programme to further support our efforts to improve the representation of women and underrepresented ethnic groups in our leadership team. “We’ve achieved a lot in this past year in terms of our talent priorities. In addition to increasing the diversity of our senior leaders, we’ve accelerated the promotion and reward processes across all grades and introduced overseas working. “We’ve also adapted to hybrid to allow our people to choose where, when and how they do their best work and continued our investment in the UK regions to create new workplaces specifically designed for the future of work.” ■

Kingsbridge unveils private cardiac surgery service

Kingsbridge Private Hospital

ndependent healthcare company Kingsbridge Healthcare Group has officially unveiled its private cardiac surgery service.

In the first of its kind in Northern Ireland the £3m investment includes a high-end operating theatre, intensive care unit and a host of highlyspecialist cardiac equipment. In the process, 12 new clinical and administrative jobs were created to facilitate the treatment of major life saving cardiac surgery as well as other specialist surgeries at Kingsbridge’s flagship hospital in Belfast. Essential to the cardiac surgery service was the creation of NI’s first private ICU. It has been named the ‘Jim Dornan ICU,’ after Professor Jim Dornan. The cardiac service will initially include treatment of the five most common cardiac surgeries performed namely cardiac bypass surgery for blockage of arteries, mitral and aortic valve repair and replacement surgery and atrial septal defect closure in adults. The surgery service was officially launched by its first cardiac patient Brendan Doyle who had a lifesaving mitral valve repair surgery in January

2022, an operation he had been waiting on since 2016. Dr Suresh Tharma, co-founder, Kingsbridge Healthcare Group, said it was the culmination of many years of meticulous planning to implement a comprehensive private cardiac surgery service in Northern Ireland. “We know how much pressure there is on cardiac surgery delivery in Northern Ireland, and until now patients like Brendan, have had to travel to Dublin or Great Britain to have life-saving surgery. It is hopeful that the cardiac surgery service in Kingsbridge will assist the NHS in providing a solution much closer to home, which would benefit the patients and their respective families.”

W&R Barnett

&R Barnett ﬁrmly remains one of Northern Ireland’s most successful and biggest familyowned and run businesses. The group was formed in 1896 and is currently headed by William Barnett. It’s a business with several strands, including the international trade in grains and derivatives, molasses trading, animal feed and packaging.

for W&R Barnett Ltd, while it posted pre-tax proﬁt of £51.3m. It was performance in the Logson part of the business, which specialises in packaging, that helped the overall group see strong results, accounting for around half of the proﬁtability. The overall business now boasts a workforce of around 1,600 staff.

And like other ﬁrms it’s had to pivot and deal with the challenges of Covid-19 and the ongoing war in Ukraine.

In the middle of that storm the ﬁrm also had to deal with a ﬁre at one of its grain storage facilities in Cork Harbour.

Claudine Heron is chief executive of the commodity trading arms of the company, and oversees businesses such as United Mollases, Barnett Hall, Precision Liquids and Biosearch.

“...but we were delighted as we had a decent business interruption and continuity plan and we were able to roll that out with good effect to minimise the impact to customers,” Claudine says.

“Like all businesses Covid posed its challenges for us,” Claudine told Ulster Business. “There have been some unexpected opportunities that have come out of it as well. “The agri-business felt the real lack of demand drag as a result of lockdown and the related bounce as the world opened up again. “The packaging sector experienced unparalleled demand arising from that surge in online retail and we were delighted that some investments we had made in Logson [business] were made at the right time to service our customers’ needs as best we could. There were still challenges.

“The overriding aspect across the group has been agility that the team was able to employ to best cope with that volatility that arose because of Covid. “Whether that was the challenges in actually coping with staff shortages that arose… at the operational facilities which were key because of their supply into key industries.” And like others in the sector and wider economy, the ongoing war in Ukraine has also played its part in impacting business.

“We did suffer from the supply chain challenges that were felt globally, across the group.”

“We are feeling that impact signiﬁcantly but in different ways,” she says. “You have that bite of the energy cost increases and we have had that added layer of market volatility in terms of global commodities.

W&R Barnett is arguably Northern Ireland’s biggest family-owned ﬁrm, with turnover of £1.27bn according to its latest set of accounts

“We have had to react very quickly at short notice, both in terms of managing supply chains and the price impact of that volatility.

W&R Barnett remains a giant of industry here, but one which is still family-led and now in its fourth generation. “In the early part of my career I worked in the oil industry and the FMCG (fast-moving consumer goods) business, so to come to a family ﬁrm was quite a big change for me,” Claudine says. “The things you do see are the personal touches, it’s the connectivity they have to the wider team across the business. It’s the investment they are prepared to make for the long-term. “As a business we are continuing to invest in the assets, in the people, and also with a real ESG (environmental, social and governance) lens on what we are doing.” On the NI Protocol and the impact of Brexit, Claudine says as a business focused in international trading it was wellplaced to try and deal with changes and challenges. “We spent four years preparing in readiness, scenario planning. A lot of investment went into that to make sure we were ready,” she says. “You would also expect that as international traders we should be best placed to navigate around the various protocols because that is what we have to do anyway as we trade globally. “On a positive note the NI Protocol at least gave us certainty to know what we had to deal with. That said we do recognise that there are some challenges for many businesses, and particularly in the agri-food sector that have to be dealt with.” ■

Claudine Heron

AUGUST 2022

NEWS

Protocol Bill ‘risks making rural areas poorer by cutting off annual milk trade’

he NI Protocol Bill risks impoverishing rural communities here as it could cut off the annual £600m trade in milk from Northern Ireland farms into the Republic and EU, it’s been claimed. In written evidence to the House of Common’s Northern Ireland Affairs Committee, the Dairy Council for Northern Ireland warned that the bill could result in “serious consequences” for farming in NI. The bill’s proposal of a dual regulatory regime so that goods in NI can be compliant with EU or GB standards could mean that movement of milk from NI to the Republic would cease, the council said. It made the dramatic intervention days after MPs voted against amendments to the bill, which aims to override parts of the NI Protocol. The bill has been championed by the DUP as a pre-condition for its return to power-sharing at Stormont. The Dairy Council said milk from NI farmers had to cross the border into the Republic for

processing because more milk was produced here than could be processed. Of 2.5bn litres of milk produced in NI every year, one-third had to be processed in the Republic.

It said that the NI Protocol was working for the dairy sector because it permitted trade to continue across the border, as it did before Brexit.

There are more than 3,200 dairy farms in NI and the industry is worth over £1.5bn a year.

While adding that improvements could be made to make the protocol work even better, “what we currently have must not be damaged”.

The organisation said trade in milk to the EU, including the Republic, from Northern Ireland was worth £600m, while the trade in milk to Great Britain was worth £400m. Large numbers of dairy farmers in border counties of Northern Ireland sell their milk to co-ops that are based in the Republic, such as Lakeland Dairies. In its evidence, the Dairy Council said: “The potential of this bill is to significantly disrupt current trade flows for NI dairy companies, and, if this happens, the prices paid to NI dairy farmers will be negatively impacted and their sustainability will be jeopardised. “If this happens then rural communities will suffer negative economic impact. In effect, this bill would remove NI’s unfettered access to the EU, which is a core element of the EU-UK Trade and Co-operation Agreement and protocol; it would be contrary to the intent of the Good Friday Agreement; and it would create a commercial border on the island of Ireland.”

Access to the Great Britain dairy market was worth £400m a year in sales. However, the council said having unfettered access to the EU was worth an additional £200m, totalling £600m, including the ability to move raw milk from NI to the Republic for processing. The council, which is led by Mike Johnston, said the dairy value chain had evolved over 25 years and was “the best example of the outworkings of the Good Friday Agreement, with benefits flowing to dairy farming businesses and rural communities throughout the island of Ireland”. “NI does not have sufficient processing capacity to process all the milk produced in NI, so anything that damages or limits the dairy value chain would have serious consequences for the NI dairy sector.”

INTERVIEW

Ross’s Court in Belfast

From revamping a Derry retail stalwart to a major asset sweep in Belfast The Martin Property Group has bought a series of major Belfast buildings over the last few months and is investing millions of pounds in revamping schemes in the city, in Derry, and across the UK and Ireland. Director Paul Martin speaks to John Mulgrew about a quiet business with a huge portfolio, ambition and why it’s always on the acquisition trail

hether it’s buying a host of major Belfast assets, the revamp of a £15m office stalwart or developing the Richmond Centre in Derry, the last few months have certainly been busy for one of the most active property businesses here.

and impressive property portfolio across the UK and Ireland

“We are a family business and a one stop shop for all things property,” Paul Martin, director, The Martin Property Group, tells me.

Some of its other schemes include a mixture of residential and development, with 1,300 to 1,400 units currently underway, along with city centre schemes and four or five shopping centres.

The Martin Property Group has an expansive

The company buys land, property and developments with long-term investment and “adding value” on the agenda in terms of its business plan.

The firm was founded by Paul Martin senior, with his three sons as directors – Paul, Gary and Mike. It now has a team of around 55 office staff along with a dedicated construction team, with bases in Derry, Belfast, Dublin and Manchester. “We are originally from the north west and that’s the back yard. During the last 24 months we have done lot of investment in Belfast and see the city as up-and-coming. It’s

The Richmond Centre in Derry

INTERVIEW

“We have been particularly interested in shopping centres. That market is changing,” Paul says. “[There’s] opportunity for the city centre. The goal is to bring alternative uses to the building. The trend in retail is shrinking. That’s to do with the internet and Covid – these centres are generally too big and there are a lot of vacancies. There needs to be alternative uses. “Jungle gyms, food and beverage, other entertainment. It’s a huge drive of ours to bring more [people] into the city.” Paul says the firm wants to bring the 100,000 sq ft centre “back to life”. A new Starbucks has just opened and Paul says one or two additional large national retailers are on the cards. Future plans could also include partial residential use. got some great points compared to some other parts of the UK.” Paul’s certainly correct in the business being active in Belfast over the last few months. It bought the Danesfort building in Stranmillis after it was vacated by Ulster Bank, which had called it home since 2002. The property group is now investing around £15m in a major refurbishment plan for the development. “We are doing a refurbishment programme and have a couple of tenants. [It will be] £15m across the block.” It’s also just purchased Ross’s Court – formerly home to Argos – in the city centre, Marlborough House – a 25,000 sq ft scheme home to law firm Tughans until later this year when it moves to the Ewart – and 37-41 High Street.

“We have 37-41 High Street now. That will be a redevelopment of the existing listed building and bringing it back to life.”

“[We are] looking at the option of additional height. A number of units in the upper floors could be converted.

Turning to the large Ross’s Court scheme, Paul says the group will look towards two different ideas. That could include a leisure scheme in the upper levels and retail on the ground floor.

“It’s not a pretty building and our goal is to change that and the perception of that. It has always been the second centre in city but we want to do things like render the facades.”

“The other option is a national retailer looking at the whole space,” Paul says. He says the group has significant experience in redeveloping similar listed buildings.

Some of the other schemes include 131 apartments at the former historic Tillie and Henderson shirt factory site in Derry.

“We have shirt factories and we like the listed structures. We have a track record and design team with lots of experience. We may [also] try and add additional accommodation there.” The 57,000 sq ft site is still under lease to Argos, but has been closed since the start of last year and Paul says discussions are ongoing about its surrender.

Paul says Marlborough House could see a number of different options in order to hedge its bets, including a new office scheme or residential.

Closer to its native north west the Martin Property Group is now eyeing up its next ambitious plans to revitalise and redevelop Derry’s Richmond Centre.

“Once Tughans leave, while we are getting planning, we may find some short term tenants,” he says. That’s a key location and redevelopment opportunity.

That could see a number of options for the centre, including children’s play areas, more food and beverage offerings, laser tag and other leisure uses.

AUGUST 2022

Back in Belfast the firm had put in a proposal to take on the unfinished George Best Hotel hotel in the city centre, which is currently in administration. It had partnered with some of the investors in the development but earlier this summer a High Court judge granted an order for sale of the building to administrators appointed to the city centre project. Paul says the firm has also been involved in a number of other residential, office and mixeduse schemes elsewhere in the city. And he says the group is “always on the acquisition trail. “You might have to look at 1,000 deals to get one. We scour the length and breadth of the country… [we have a] good growth pattern over the next few years.” ■

PROFILE

Titanic Belfast: your event is our business B usiness events are back. In recent months, Titanic Belfast has seen a marked increase in corporate events as people welcome the return of face-toface gatherings. Since the beginning of 2022, the world-class venue has hosted an extensive number of high-profile events including BelTech and The Irish News Workplace & Employment Awards, as well as multiple national and international association and corporate events. As a unique destination, it boasts a diverse and versatile selection of options across multiple venues offering something for every event organiser. The iconic building offers conference and banqueting facilities in an array architecturally distinct space. From intimate meetings to gala dinner for up to 600 people – Titanic Belfast promises to exceed all expectations. With an impeccable record of providing high-quality food and service for all events the highly experienced team guarantees a seamless and truly five-star service. The expert chefs create seasonal menus tailored to each event with stunning courses expertly prepared

using the very best of local and sustainable ingredients ensuring all guests enjoy a dining experience to remember.

Located on the top floors of Titanic Belfast with stunning views of the Slipways and Belfast Lough, where the world-famous liner was designed, built and launched, the Titanic Suites offer clients enormous flexibility. With capacity for intimate dinner parties of 20 to large scale takeovers for up to 1,500 – the possibilities for a conference, banquet, exhibition or reception are endless. The opulent decor in the Titanic Suites is themed on the interiors of Titanic and features a stunning replica of the liner’s famous Grand Staircase. White Star Line crockery and a host of sumptuous menus all created with the finest local produce, guarantees all the ingredients to make a Titanic Belfast experience truly memorable. Whilst overlooking Belfast Lough, SS Nomadic brings together Belfast’s strong industrial and maritime heritage to provide one of the city’s most unique event spaces. With exclusive access for up to 180 guests who can enjoy the White Star experience from the moment they arrive on the dockside

and marvel at the ship’s design and luxurious décor, including same the original interiors that greeted first and second-class passengers on board RMS Titanic. The historic Slipways, where RMS Titanic was built and launched, are the perfect location for an unforgettable outdoor event. With the famous Harland & Wolff Drawing Offices and the iconic Titanic Belfast building providing a stunning backdrop it is no surprise to have been the venue for choice for hundreds of world-class events including the Giro d’Italia Big Start, BBC’s Biggest Weekend and Carl Frampton’s world title fight. Close by, and beneath the iconic cranes at Harland & Wolff, TEC Belfast offers a blank canvas for large scale event organisers. With 5,000 sq m of clear span exhibition space to play with, the venue has successfully hosted HBO’s Game of Thrones: The Touring Exhibition, IFEX Culinary Salon as well as large gala events for up to 1,500 people. ■

For further information on the wide range of events packages at Titanic Belfast, go to titanicbelfast.com/venuehire, email enquiries@ titanicbelfast.com or call 028 9076 6454.

PROFILE

Henderson Group’s fresh and local agenda propels sales through £1bn

enderson Group, the grocer and retailer which owns the SPAR, EUROSPAR and ViVO franchises in Northern Ireland started 2022 with a pledge to bring at least 26 significant store projects to communities across Northern Ireland. The group posted sales of £1.07bn for the year 2021, experiencing an 11.4% rise on the previous year, which places the firm in the number three spot in Ulster Business Top 100 Northern Ireland Companies 2022. Paddy Doody, sales and marketing director, says investment in infrastructure and enhanced adoption of in-store technologies has helped continue their growth while navigating external complexities.

“In the past decade, we have invested over £28.5m back into the business to expand our operations,” he says. “Our most recently upgraded facility, the new fresh foods and foodservice warehouse in Mallusk, allows for an even greater volume of goods to be distributed from local suppliers to retailers, schools, and hospitality venues across NI. “The pandemic years also accelerated the adoption of new and innovative store tech, with Henderson Technology installing an increased number of self-service checkouts and handleless cash systems throughout stores, while also developing grocery and food-togo delivery apps for retailers, keeping them competitive through challenging times.”

Paddy Doody

localised demands of the communities they operate in. In 2021, the company invested £19.4m in community retailing, opening its 101st store, EUROSPAR Kircubbin at the end of the year, which followed the company’s strategy of building stores informed by local data to directly meet the needs of the local shoppers’ missions.

Henderson Foodservice performed well in 2021 as hospitality and schools reopened post-lockdown, with managing director Cathal Geoghegan announcing a turnover of £134.1m in 2021 at their recent conference, a growth of 21% on 2020’s figures which saw many of their customers close for long periods due to the pandemic.

“EUROSPAR is proving a mighty challenger for the multiples, as we’re opening highly accessible supermarkets within the heart of local communities, which provide a long roster of locally sourced products, with continuous deal driven campaigns by the week,” Paddy says.

Henderson Retail now operates over 100 SPAR, EUROSPAR and ViVOXTRA stores in Northern Ireland, building and renovating to meet the

“EUROSPAR Hillcrest has just opened in Portrush and is one of the biggest in Northern Ireland, providing an accessible supermarket

for locals and holiday makers alike. It’s also an extremely attractive brand for our thriving independent retailers across NI.” With the rising cost of living, value remains a key focus for Henderson. SPAR’s new Joy of Living Locally strategy with its key brand pillars of Value on your Doorstep, Nurture Our Neighbourhood and Passionate About Local enables the team to deliver on value, investing in local sourcing and in shopper campaigns to drive the cost of essentials down even further. “Value on your Doorstep and Mega Deals are campaigns that are new for 2022, and alongside EUROSPAR’s Smart Shopper and Tesco Price Match, plus SPAR, EUROSPAR and ViVO’s seasonal 12 Deals of Christmas campaign, we are giving our branded stores a huge advantage over the multiples when it comes to value and locality all year round,” Paddy says. ■

COMMERCIAL PROPERTY

Does occupier and investor confidence mean office market is finding a ‘new normal’?

By Richard McCaig, director, Osborne King

he first half of 2022 has made it clear that the office is far from a thing of the past. We are now seeing a much more ‘normal’ level of activity in terms of enquiries, viewings and leases being agreed. Office take-up in Belfast city centre for the first half of 2022 was just over 100,000 sq ft. By way of comparison, before the Covid-19 pandemic, a typical half year would have shown around. 200,000 sq ft of deals. While this is 50% of the take-up we would have expected by the end of the first half of the year, there is a significant backlog of deals that are now progressing. The main challenge facing the office market in the past 12 months has been speed of decision making by occupiers. Unsurprisingly, it was often easier to do nothing when faced by ever changing protocols, not to mention assessing how individual organisations would utilise their space as hybrid working models evolved. Quite simply those decisions are now being made and tenants are actively acquiring space. We estimate that there is somewhere in the region of 150,000-175,000 sq ft of lettings agreed and in legals and these should be completed throughout quarter three.

The completion of these transactions will not only move take-up figures towards ‘normalised’ levels but should further increase confidence in the office sector. The numbers might not be terribly exciting, but there is an interesting story behind each of the transactions with notable occupiers across the legal, tech and financial sectors due to make significant announcements regarding investment, job creation and importantly their commitment to Northern Ireland. The quality and skill set of our workforce has long been publicised as a key factor in attracting leading global companies to establish a base here, equally the talent available to local companies has allowed them to compete at a global level. As occupiers now get to grips with how to use their office space there are some consistent messages across all sectors which cannot be fully realised through remote working: • Collaboration and sharing of ideas is vital • Encouraging and sharing knowledge with younger staff is key to their development • Recruiting the best talent is made easier when you have a presence and have a space that allows the ethos and goals of your organization to be shared.

These are the key factors now driving occupier decision making and there is undoubtedly a move to high quality space that creates an opportunity for all of the above to happen. It is not just occupiers showing confidence in the office sector. Investors are actively acquiring office buildings and see them as a secure longterm investment. Imperial House on Donegall Square East was recently sold above its asking price of £6.9m with the yield reflecting sub 6%. Additionally, a significant office and retail investment on Donegall Place/Fountain Street has come to the market at £13.3m showing a net initial yield of 6.5%. We are aware of other significant office buildings that are likely to come to the market shortly and it is extremely positive to see investors regarding commercial property and the office sector in particular as a good place for their money. After a turbulent couple of years the office market is finding its ‘new normal’ with the level of take-up, job creation and investment all at very encouraging levels. ■ Richard McCaig, director, Osborne King, richard. mccaig@osborneking.com

TITLE

INSURANCE

M.I.S partners with Willis Insurance & Risk Management

.I.S has partnered with Willis Insurance and Risk Management to offer up a breakdown service.

The partnership provides private, commercial and motor fleet clients of Willis Insurance & Risk Management the chance to purchase the M.I.S Breakdown Assistance product. Part of WF Risk Group, Willis Insurance and Risk Management is an independent, familyrun business that has been providing its service for over 40 years. Its motor clients, who opt to buy the service, will now have 24/7 access to the M.I.S Breakdown Assistance 365 days a year meaning they will always have someone to answer their call at their time of need, further enhancing the insurance services that Willis provides. Clients will be able to avail of local tow, homestart assistance, puncture assistance, fuelshortage/mis-fuel, mainland European cash benefit and more, which will give them peace of mind when out and about on their travels. “We are very pleased to enter into this partnership with Willis which will see their clients being given the opportunity to avail of the Breakdown Service provided by M.I.S Group,” Stuart McClean, director, M.I.S Group, said. “It is great to be working with Willis which has a renowned name not only in the local Insurance market but beyond as well. “This is yet another indication of the direction M.I.S Group continue to grow and evolve in, as we look to expand our business partners portfolio further in the coming months.” Richard Willis, managing director of WF Risk Group, said: “Willis Insurance & Risk Management is delighted to be partnering with M.I.S Group on their Breakdown Service

Stuart McClean, M.I.S Group and Michael O’Kane, Willis Insurance and Risk Management

offering. M.I.S has been among the leading providers of breakdown cover for many years and this new partnership signifies the Group’s ongoing efforts to create beneficial addedvalue service options for our clients’’ M.I.S says it has benefited from numerous opportunities that have presented themselves following the pandemic. After a difficult two years of unease and uncertainty for all businesses, M.I.S says it’s

delighted to be in such a positive position of growth as the portfolio of commercial partnerships in Northern Ireland, Republic of Ireland and UK continues to enhance. “Having had relationships with other partners for over 20 years, we hope this is the start of a flourishing and lengthy relationship with Willis Insurance and Risk Management too and we look forward to working with them to provide the best possible service to their clients,” the company says. ■

EMPLOYERS

Sponsored by

LARGEST EMPLOYERS Position

Company

Sector

Tesco

Retailing

9,625

Moy Park

Poultry processor

5,091

Queen's University

University

5,002

Henderson Group

Retailing

3,933

Asda

Retailing

3,673

Spirit AeroSystems

Aerospce

3,310

Sainsbury's

Retailing

2,953

Telecoms

2,926

Marks and Spencer

Retailing

2,830

Almac

Pharmaceuticals

2,797

Teleperformance

Call centres

2,641

Ulster University

University

2,585

Boots

Retailing

2,418

Citi

Financial services

2,411

Allstate NI

2,339

Golf Holdings

Drinks distributor

2,298

PwC

Financial services

2,245

Lloyds Banking Group

Banking

1,950

G4S

Support services

1,898

Musgrave

Retailing

1,866

Bidvest Noonan

Support services

1,758

Terex

Engineering

1,725

Ulster Bank

Banking

1,672

TJ Morris

Distribution

1,619

Firstsource

Call centres

1,613

Information based on the latest Equality Commission Monitoring report for 2020

1-25 Number of employees

26-50 Position

Company

Sector

Norbrook

Pharmaceuticals

1,532

Seagate

IT equipment

1,518

Danske Bank

Banking

1,494

Caterpillar (NI)

Engineering

1,339

Santander

Banking

1,339

Thompson Aero Seating

Aerospace seating

1,268

NIE Networks

Electricity supply

1,209

Iceland

Retailing

1,186

Robinson Services

Support services

1,176

Graham Group

Construction

1,169

B&M

Retailing

1,163

Primark

Retailing

1,113

Charles Hurst

Motoring

1,078

Dunnes Stores

Retailing

1,050

Sensata Technologies

Manufacturing

1,038

Karro Food Group

Meat processor

1,032

Argos

Retailing

1,013

Mount Charles

Services

1,008

Linden Foods

Food production

1,006

Dale Farm

Dairy co-operative

1,004

Runwood Homes

Care homes

1,003

Dunbia

Meat processor

997

Northstone (NI)

Construction

956

Retailing

941

Deloitte

Financial services

939

AUGUST 2022

Number of employees

TOP 50 EMPLOYERS

Employers have strong hiring intentions but still face talent challenges By John Moore, managing director, Hays NI

past couple of years and, as I’ve said many times, employers need to focus more than ever on their overall offer to candidates, not just the salary they can offer.

s we come into the second half of 2022, it’s undeniable that there is a lot of uncertainty both in the economy and in the world at large.

Of course, salary is still the first thing most candidates look at and, with the cost of living crisis starting to squeeze, it was perhaps no surprise that our latest survey found 43% of employers (41% in NI) have increased staff pay in the last three months, and 23% (25% in NI) say they intend to bring a pay rise in over the next three months.

Since writing this column for the special Top 100 Companies edition of Ulster Business last year, we have seen war break out in Ukraine, energy costs surging, inflation sparking a cost of living crisis that is squeezing consumer spending and political turbulence that has led to a change of Prime Minister in London and the absence of a Northern Ireland Executive at Stormont. In the face of all of this, employers in every sector of the economy have been getting on with business and despite the headwinds, the labour market has remained very strong, with demand in many industries well above where it was before the Covid-19 pandemic arrived in early 2020. Roles across most areas in technology, construction, engineering, and marketing are in high demand and the topic of skills shortages has never been too far from the headlines over the past 12 months. It’s really encouraging to see the range of professions and roles represented by the companies in the Top 50 Employers list this year, and those companies are to be commended for the important role they play in Northern Ireland’s economy. But as we look at what might lie ahead for the recruitment market for the rest of this year, and into 2023, there are a number of challenges on the horizon. HIRING INTENTIONS Hays runs a quarterly insights survey which

receives over 8,000 responses from employers and professionals across the UK, including Northern Ireland. In the latest snapshot, taken from a survey in the last two weeks in June, 71% of employers told us they are currently hiring staff – and that rose to 77% among respondents in Northern Ireland. While confidence in the UK’s current economic and general employment outlook was more mixed, 53% of companies still rated the prospects for their own organisation as positive, rising to 55% in NI. However, only 22% of employers in the UK and NI told us they currently have access to the right skills to meet their organisation’s objectives, with 63% (66% in NI) saying the biggest barrier is competition from other employers in their sector and 58% (64% in NI) saying there is simply a shortage of suitable applicants out there. It’s a challenge we’ve heard a lot about in the

But employers who want to both attract and retain talent also need to make sure they can clearly articulate and demonstrate their policies on other desirable criteria, such as flexible working, training opportunities and work-life balance. WHAT WORKERS WANT The results of Hays’ surveys through the pandemic showed that the importance of flexible and hybrid working increased dramatically as people in different sectors realised they could do their jobs without being in a central office every day. Our latest survey indicates that over twothirds of employers are offering hybrid working in their organisations with 20% saying they aren’t and the rest unable to offer it due to the type of business they are in. Interestingly 80% of employers in London are now offering hybrid working, but only 52% of those we surveyed in Northern Ireland. And compared with the overall average of 60% of employers who trust their staff to work effectively and productively in a hybrid arrangement, only 50% in NI agreed.

TOP 50 EMPLOYERS

Of the employers who are offering hybrid working, a quarter (20% in NI) said their offering is flexible and staff can choose how often they come into the office, 21% (28%) said staff must attend the office three days a week, while 19% (17% in NI) say staff must be in the office two days a week minimum. Over the next 12 months, 65% (57% in NI) of organisations who are offering hybrid working don’t expect their offer to change – however over a quarter (35% in NI) indicated they will require staff to be in the office more often If employers start to change their policy on hybrid working and insist people start coming back to an office more often, there will likely be some consequences. Around half of those we surveyed said hybrid is their preference with about a quarter of respondents saying they either preferred to be fully remote or fully in the workplace. Hybrid working has undoubtedly worked for a lot of people, with just over 80% of professionals saying us their work-life balance

AUGUST 2022

is better when working in a hybrid way, even though 40% (32% in NI) say they typically work longer hours when working remotely. Over a third (38%) of employers say it is now less important that the staff they are hiring are close to the workplace than it was before the pandemic. This is slightly lower in NI at 31% and while 35% of employers are conducting first stage interviews virtually, this figure is only 17% in NI. OUTLOOK There was a lot of talk about the great resignation during the height of the pandemic, although I prefer to think of it more as a reshuffle, driven by people thinking more deeply about what they want from a job than ever before. We can’t deny that the competition for talent in some sectors is still intense, and I expect this to be the case throughout the rest of this year, based on our survey results, which indicated 13% of employers are offering a sign-on bonus to attract talent, 27% of employers

saying are more likely to offer counter offers in the last six months and 40% being prepared to offer flexible working outside their normal hybrid arrangements. We’re seeing more organisations considering offering four-day working weeks, providing enhanced parental leave and allowing people to take bank holidays at other times in the year, all in order to get that slight advantage on the competition. Of those we surveyed in June, 58% (62% in NI) said they had an interview for a job within the last six months and 46% of them (53% in NI) said that was prompted by desire for a higher salary and 19% (21%) for career progression opportunities. Similarly, 58% (53%) of professionals say they plan to move jobs within the next 12 months. These are very high numbers, so the onus is firmly on employers to be really clear about what they can offer both existing and potential staff if they want to make sure they have the talent they need to succeed. ■

TOP 100

ike business and industry, the Northern Ireland Civil Service is emerging from the past two years with newly honed agility and postpandemic skills. We have embraced new ways of working, taking a radical approach where necessary. We have learned much and we are doing things better than before in order to navigate emerging challenges.

As business leaders, the impacts resulting from the war in Ukraine will be top of your mind; energy price hikes and the cost of living crisis have compounded residual pressures from the pandemic leaving little room for a hiatus. For us in Northern Ireland, the lack of a functioning Executive also brings its own unique challenge, and while challenges are inevitable, how we respond and transform will always be conscious decisions. In the last 27 years of my career, 25 have been in the private sector, either developing hightech solutions or financing them. A common thread within all of these roles was capitalising on moments of disruption as catalysts for change. It was in this context that I applied for the role as chief policy advisor to the Executive and head of the Northern Ireland Civil Service. The best time to grow differentially is when aggregate growth is low. Like many organisations, the Civil Service’s response to the pandemic clearly demonstrated our ability to deliver proactively and at pace. As the postCovid world continues to evolve, we have a once-in-a-generation opportunity to set a new direction for our society and economy. We have long-standing systemic challenges in terms of productivity, health inequalities and achieving net zero carbon emissions. The pandemic and the war in Ukraine have exacerbated these issues, particularly for women, people with disabilities and those with low incomes. We must take pre-emptive action now to avoid long-term scarring that will be multi-generational.

Jayne Brady: The next decade will be unlike everything before As a society we are resilient, practical and determined; we can rise to this challenge, with the public sector as a pivotal and proactive force, shaping and driving the change so that this time of immense transformation delivers for all. Within the Civil Service, we are preparing to lead the public sector in this way. There is a well-established school of thought that government and the public sector should be restricted to intervening only to regulate or correct market failures. Recognising that policy is for ministers to decide, not civil servants, there is also strong, reliable evidence that the public sector works best when it is proactive, thinking and behaving as an entrepreneur and investing to secure outcomes. The importance of science and technology as an enabler of a proactive public service cannot be underestimated. Through collaboration

and co-design with delivery partners, we will utilise innovation, science and technology to deliver solutions, ensuring our response is effective. It is critical that these are at the heart of policy making and I’m delighted that a recruitment competition to appoint an NICS chief technology and scientific officer is at an advanced stage The economic impacts of the pandemic and the war in Ukraine have resulted in marginalised and disadvantaged groups being hardest hit. We know that the economic recovery model must take account of that as we keep our policy priorities under close review, noting the need to reach beyond traditional GDP growth. Economic recovery not only has a rate, it also has a direction and we have an opportunity to embed structural changes to develop a more sustainable, dynamic and inclusive region.

TOP 100

Since the Assembly election, I have been engaging with the four political parties who are entitled to form the new Executive to discuss the priorities they will pursue when they return. While we cannot do everything, the Northern Ireland Civil Service will bring our commitment and expertise to several key areas of focus.

including business and industry. The businesses featured in this publication represent firms at the cutting-edge of their respective industries. In many areas, they are setting an example from which other organisations, including the Civil Service, can learn. This will help us add value and enhance delivery.

These will be our missions: cross-cutting, innovative and focussed programmes of work to tackle some of the most challenging issues we face, increased employability and productivity, green growth, and improving life opportunities. Preparations have begun in these areas as we await the formation of a new Executive, laying the groundwork where we can, for ministers to decide on the way forward.

It has been a fast-paced 10 months since I took up the role of head of the Civil Service. I was, and remain, determined to bring energies and new ideas to the role, building upon our strengths in order to deliver better public services. Since my first day I have been impressed by the expertise across all departments. Together, we have overcome challenges and seized opportunities and we must continue our proactive and agile response.

Completing our missions will require collaboration and we are committed to enhanced engagement with delivery partners

AUGUST 2022

In order to support the organisation so that we

can lead the public sector during this time of transformative change, a Civil Service Renewal Programme is underway. This will improve our effectiveness in serving the Executive and the citizens of Northern Ireland. I believe that we should reflect the society we serve. That means a modern, innovative and diverse civil service, equipped to meet the challenges of the future. The next decade will be unlike everything before. In the face of major societal, economic and environmental challenges, we have the opportunity to ensure that this decade is remembered, first and foremost, for delivery. Challenges will continue to come our way, but I am optimistic that we in the Northern Ireland Civil Service can deliver, because I am very proud of what we have already achieved. ■ Jayne Brady is head of the Northern Ireland Civil Service

RECRUITMENT

Putting your employer brand front and centre in the battle for top talent Businesses and organisations, from the big to the small, must evolve and turn their attention to key, focused recruitment marketing strategies including employer branding in order to attract the right talent in such a challenging market, according to Emma Murray, deputy chief executive of ASG & Partners. She and her team are working with public and private sector clients across the UK and Ireland and helping them bring in and retain the best talent

orthern Ireland’s recruitment market is now firmly in a candidatefocused landscape.

And in such a competitive market and with global macro challenges, the way in which a company, large or small, attracts the top talent needs to change, adapt and evolve, according to Emma Murray, deputy chief executive of ASG & Partners. “An employer brand and focused recruitment marketing is key – organisations have to be increasingly more sophisticated in order to reach both the active and passive job seeker,” Emma says.

ASG & Partners is a firm with more than 40 years working across the advertising, marketing and communications sector, here in Northern Ireland, the Republic and across the UK. And as part of that burgeoning team, Emma Murray heads up its recruitment marketing division – helping some of our biggest and bestknown organisations find and hire the correct people and develop their employer brands, especially amid such a challenging recruitment marketplace. “What attraction methods organisations may have used in the last few years might not be enough in today’s market,” Emma says.

“Candidates need to feel you have really thought about them and that their values and goals align with the company. A consistent employer brand message throughout all communication touchpoints – from the advertising through to corporate website and application process, is key in achieving this.” ASG & Partners has a range of specialised departments, including advertising and marketing, brand and design, research, PR, recruitment marketing, digital, media planning and buying and content. On the Recruitment Marketing division, Emma says: “Our dedicated team of professionals

Emma Murray

RECRUITMENT

Emma says. “And it’s right across the sectors now – many are finding difficulty in getting the right people in a post-Brexit and Covid-19 environment. “For example, technology firms and others are increasingly using outdoor campaigns as well as radio in addition to digital channels to raise brand awareness when recruiting at volume – getting attention and the message out there at each media touch point.” ASG & Partners works with major private and public sector clients across the UK and Ireland. Emma started her career with the firm in 2010, joining as general manager within recruitment, before being made deputy chief executive in 2018. “Employer branding is a service that we are being asked for increasingly. We have our specialist media planners and buyers, deciding on where to place advertising and on which channels, but we also have a full employer branding service as well. It’s about getting the consistent tone and voice of a company and an employer brand is something which organisations, both big and small, need to invest in to compete and attract, and retain, the right talent.” are working with our clients to get their key recruitment marketing messages out in front of audiences wherever they are, locally, nationally or internationally.” “We work with a client to distil their employee value proposition – addressing their core values and attributes.” We do this by utilising customised research, specialist media planning and buying, design and production of advertising assets, careers fair assets, digital applicant packs and video content to name a few, all while developing a strong overarching employer brand.” ASG & Partners utilises a range of avenues and advertising mediums along the way to reach prospective talent and their influencers, from news press and specialist publications, to social media, outdoor and radio. “Covering the full spectrum of the employer brand and understanding the correct media channels to best reach a candidate audience is extremely important as many organisations are really struggling to get the right talent,”

AUGUST 2022

Emma says the firm undertakes research and brand audits in order to best establish what a client needs. “It’s not just a press advertisement and a job listing, it’s about all types of content – the employer brand must stretch across the business and all its communication channels, such as its website. It should be across all touch points. Our team continues to keep up-to-date with the recruitment market and looks to see what the trends are.” And the need for evolving recruitment marketing and a strong employer brand has never been more important amid a competitive jobs market in which the candidate is king. “Organisations simply cannot continue to do the same sort of recruitment marketing as before,” Emma says. “It’s becoming more and more of a challenge – we are in a different marketplace, with a perfect storm of Brexit, Covid and what is now being referred to as ‘The Great Resignation’.

“A strong recruitment marketing strategy was always important. In the last two years, in a candidate led market, it’s more important than ever. You don’t want a reactive approach for each recruitment competition you have – it’s about doing it right from the start and making sure there is a holistic approach, and that the employer brand is weaved through every element of communication.” Emma says in the current marketplace, employee demands have shifted, especially among a younger generation, where salary expectations only play a part of what a potential member of staff wants. “Salary is still a very important factor, but not the only factor,” Emma says. “Especially with younger people, salary is in the top five, but what they want to see is training and development, opportunities, career progression and flexibility – that work/life balance. “When organisations are recruiting, there is no one-size-fits-all approach, it all depends on each client and the individual roles they are recruiting for. At present there are so many vacancies, and not enough people for the roles. Organisations need to look at recruitment strategies and see where the opportunities are.” Emma says diversity and inclusion are now extremely important areas for companies to address in their recruitment marketing communications, as well as attracting future talent from school-leaver level up and reaching out to wider sections of the community. And the same attitude applies to ASG & Partners itself – a firm which has continued to expand over the last 12 months due to new business growth locally and in GB. “What makes my job interesting is that each day can be so different,” Emma says. “In the last year, ASG has continued to grow across our teams, including digital marketing, PR, media, and client services as well as recruitment marketing. “We also recognise the need to grow our own people, recruiting graduates as well as taking on interns. We are continuing to grow right across the business.” ■

Simon Muldrew, Collins Aerospace, Johnny Hanna, KPMG in Northern Ireland, councillor Michael Savage, chair of Newry, Mourne and Down District Council, Marie Ward, chief executive of Newry, Mourne and Down District Council, Finance Minister Conor Murphy and Liam Nagle, Norbrook Laboratories

PROFILE

Empowering Newry, Mourne and Down’s potential How a bold vision, the Belfast Region City Deal and a strategic location set Newry, Mourne and Down District Council on track for a prosperous future

ecades of growth are on the cards for the Newry, Mourne and Down district (NMD).

That was the message delivered at an event attended by public and private sector stakeholders in Newcastle, Co Down, in June which heard that the impressive growth posted across NMD since 2002 has provided the “foundations which will form the basis for a prosperous future for all”. Empowering NMD heard how the twin benefits of the Belfast Region City Deal and the district’s strategic location on the Dublin-to-Belfast economic corridor are just two of the drivers which will build on the success of the last 20 years and propel the local economy’s global reach. Held in the Slieve Donard Hotel, the event also

discussed how NMD will be able to leverage international recognition and investment through its key role as secretariate of the Dublin-Belfast Economic Corridor (DBEC). Empowering NMD was designed to communicate and highlight the council’s bold vision for the next 20 years, one which garners support from stakeholders throughout the district and across the island, north and south, and builds on the social and economic progress made since 2002. “We are privileged to have been gifted a district which has been primed for success,” Michael Savage, chair of Newry, Mourne and Down District Council, said. “The leaders who advocated for Newry to be designated a city 20 years ago paved the way for these far-reaching initiatives and put us

in prime position to take advantage of global opportunities. “It is incumbent on all of us to make every effort to ensure these once-in-a-lifetime initiatives allow this district to reach its full potential, to flourish and further its attraction as a place to live, work and visit. “Funding levers such as the Belfast Region City Deal will be used to develop the skills base across Newry, Mourne and Down to meet the needs of industry, they will help to attract R&D funding to keep our companies at the cutting edge, they will develop our infrastructure at critical junctures to smooth the movement of people, goods and tourists, and they will help us to open up the natural beauty of this region to an eager and growing tourist economy. We stand quite literally at the foothills of our tourism opportunity.

PROFILE councils and industry can be transformative and bring greater prosperity and opportunities for local people,” Mr Murphy said.

Patrick Kielty pictured speaking at the Empowering NMD event

“Most critically, we must make the most of our strategic position midway between Belfast and Dublin, one which allows us to take advantage of the economic might of the collective regions along the corridor as well as the unique position the region finds itself in in the wake of Brexit. Through collaboration between the private, public and third sectors, we can ensure an incredibly exciting future for all and cement an even more prosperous future for the next generation.” Also speaking at the event was Finance Minister Conor Murphy who said the Belfast Region City Deal (BRCD) funding will be a key driver for the district. The £1bn Belfast Region City Deal will deliver a bespoke package of funding to Newry, Mourne and Down District and help develop key infrastructure projects, such as the Southern Relief Road and regeneration of the city centre including public realm, theatre, conference and innovation space and the signature Mourne Mountain Gateway. Meanwhile, the Albert Basin Park will reclaim a rundown area in the centre of the city, developing it into a modern city centre park with funding of £16.2m from the Complimentary Fund. The BRCD will generate up to 20,000 jobs as it is delivered over the next 10 years - an exciting, once-in-a-generation opportunity to accelerate economic growth for the region in an inclusive and sustainable way. For Newry, Mourne and Down, the deal is the key to unlocking the district’s potential. It will be transformational and act as the catalyst for sustained economic growth, helping create thousands of new and better jobs and put pathways in place to make those jobs accessible to people from all communities.

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BRCD will deliver projects for Newry city which are designed to attract business and visitor investment, and create new economic opportunity which can begin to address the challenges of high economic inactivity and low levels of productivity. The ambition includes delivering modern, fit-for-purpose infrastructure such as the Southern Relief Road as well as developing new grade A offices in the city, new health facilities, an enhanced night-time economy with new conferencing and event space and a range of other projects. From an economic point of view, the planned interventions will put in place the support Newry’s entrepreneurs need to continue to scale their businesses and will create an environment that investors, both from the locality and globally, want to invest. The Mourne Mountain Gateway, a signature project not just for the local community, but for the wider region and indeed entire island, is supported by investment through the BRCD. It will deliver a world class visitor experience for upwards of 500,000 domestic and out-of-state visitors each year. Importantly, the project will sensitively regenerate the old disused quarry on the side of Slieve Donard and make the Mournes more accessible to people who would otherwise never have been able to experience the beauty, the views and the natural environment on the district’s doorstep. This project will be transformative for Newry Mourne and Down and appeal to a whole new plethora of international tourists as well as local visitors. “This £200m investment shows how collaboration between government, local

“The inclusion of social value criteria in contracts for projects delivered under the City and Growth Deals will benefit everyone in the local community, helping to address regional imbalance. “This investment will create jobs, enhance tourism and build on the strong economic foundations developed in the Newry, Mourne and Down District.” Marie Ward, chief executive of Newry, Mourne and Down District Council closed the event and said that both the BRCD and district’s geographic position prime it for growth. “We would have been lucky to have had one of these two economic levers – the Dublin-Belfast Economic Corridor or the Belfast Region City Deal,” she said. “Standing here today with both in play, it gives us a huge opportunity to reap the rewards of those visionaries from 20 years ago by setting Newry, Mourne and Down on route to further decades of success and progress. “So, let’s work in partnership, for the good of future generations across this district. Let’s put our combined collective efforts towards ensuring that by 2042 the next generation of leaders can look back at our efforts and achievements with such reverence, confident in the knowledge that we left a legacy upon which they too could build their future in the district.” Dundrum-born Patrick Kielty also addressed the audience, relating his love for the district and his confidence in its future success. Hosted by former business editor Dearbhail McDonald, the event also heard from Johnny Hanna and Marie Farrell from KPMG, Liam Nagle from Norbrook Laboratories, Simon Muldrew from Collins Aerospace in Kilkeel, Julie Gibbons from AbbeyAutoline, Rozyln Sheridan and Joanne Quigley, Tina O’Dwyer from The Tourism Space, Julie O’Brien from Runda Hospitality & Tourism Services, John McGrillen, Tourism NI, Alex Greene, head chef at Deanes Eipic and owner of Fish & Farm, Newcastle and Michael Weston from The Slieve Donard. ■

trade settling down and demand continuing. “Demand was eventually restored to a normal level, in some cases increasing,” she says. “Overall, we retained turnover but with a different mixture and demand pattern.” She says that was possible due to the company’s wide portfolio and range of products. But the main challenges facing the business now are increased costs and ongoing inflation. “There’s a wall of commodity price inflation that no one could have legislated for. It’s unprecedented. I’ve never seen anything quite like the pace and disruption when it comes to inflation and availability.” Elaine says that includes crop failures, insufficient staff to pick crops and a shortage of drivers in some countries and markets. SHS Group also distributes other well-known brands, including Jordans, Ryvita, Pot Noodle, Finish, Mars Drinks and Colgate. Elaine Birchall

10 SHS Group A

s with many giants of industry here and particularly those involved in manufacturing, rising input costs are having an impact.

But SHS Group remains one of Northern Ireland’s biggest businesses, and it’s just unveiled a new strategy – Vision 25 – which will focus on further growth for the business over the next five years. Since its inception in 1975, SHS Group has evolved from being a traditional family-run sales firm into a multi-national operation spanning a host of sectors and boasting turnover of more than £600m. The company counts a wide range of brands within its portfolio, including WKD, Shloer, bottlegreen, Merrydown Cider, Meridian

nut butters, Sunny Jim, Zip and Maguire & Patterson. “The drinks business is doing well thanks to the pace of innovation,” Elaine Birchall, SHS Group, chief executive, says. “They have really started to deliver at pace into the market, with new products such as WKD Berry Blast and WKD X. We are also sponsoring Love Island. “There have also been some nice line extensions with Lime and Mint bottlegreen, landing products in time for the season. There is good activity in Meridian and the Crucials sauce brands, the Zip firelighter business – getting new innovations into the market, such as eco-friendly charcoal.” Elaine says overall the business pushed through the initial challenges posed by Covid-19, with

“Looking at 2021 versus 2020, we traded pretty well and hung on to demand. We are trying to reset some ways of working post-Covid and working to climb back up the efficiency ladder,” Elaine says. In terms of dealing with costs, Elaine says while there is a degree of passing it on, the business also must be extremely prudent on costs as well as seeking out new opportunities. “We have a very devolved structure and independent value chains which are accountable and can work to recover from situations, with support from the wider SHS Group as required.” And looking ahead Elaine says SHS Group will continue to eye new opportunities and growth strategies in line with its new Vision 25 plan. “There will be seasonal spikes but it’s really going to be down to what consumers are able to afford,” she says. “We are cash generative business and have a robust outlook on our global supply chain and markets despite the pressure on margins. The future will be looking at how we secure our business, preserve cash and look at further growth opportunities.” ■

Adrian Curry

26 Encirc I

f you’re drinking a drop of vino from one of the big brands or global giants, there’s a decent chance the bottle was made in a small Co Fermanagh village.

But, like many other power-intensive manufacturers, soaring energy bills are continuing to be a huge issue in terms of costs.

In the seven or so years since Encirc’s takeover by Vidrala it’s fair to say business has been good for the Derrylin-based glass making giant.

Adrian says its energy bills have increased from around £50m in 2020, to a shocking £200m this year.

The firm comes in at the number 26 spot in this year’s Top 100, with rising turnover of £335.7m for the year ending 2020. And during that same period pre-tax profits soared by almost £20m to £58.6m – up 47%.

“It’s huge. In 2020 we spent £50m in energy [now it’s] more than £200m – four or five times. We don’t get any support or protection. We have contracts in place and some hedging. We are turning over more than £500m (across the wider business) but energy is a big cost to our business.

What started as a spin-off from one of Northern Ireland’s largest empires, Encirc has grown into a business still with a major NI base, employing 1,600 staff and become a trailblazer in the global glass industry.

“We have had challenges with energy. It is very relevant [for us] as an energy intensive user.

“Business is good,” Adrian Curry, Encirc managing director tells Ulster Business. “We are expanding and growing all the time. We were bought over by Vidrala around seven years ago and we have had five to six years of an investment programme since then.” The business produces glass bottles for some of the big drinks names, including Bushmills, C&C and Diageo. It’s also one of the world’s only firms to both produce bottles for the wine industry, and fill them, before distributing across the globe.

“The ability to pass prices on to retailers and consumers is limited.” It now has its main plant in Cheshire, as well as having its existing major site in Fermanagh, along with an Italian operation, after it was bought over by Spanish giant Vidrala. “We have three fully-invested plants and have grown our filling business as well. We make glass and then fill it. We have seen that area growing by more than 100% in the last five years.

“We never expected our business model to be producing wine bottles in Fermanagh,” Adrian says.

“Today as we look at capacity and… [we are looking at] growth with the opportunity for acquisitions or investing further in the existing footprint of the business.”

Adrian says the firm is eyeing further acquisition and investment in a bid to expand further still.

Adrian says the firm has had to put extra people in place to manage the NI Protocol arrangements but has largely been immune to

AUGUST 2022

any impact, positive or negative. However, like other manufacturers, skills and getting staff remains an ongoing post-Brexit issue. “One of the biggest effects from Brexit is the ability to bring in foreign labour,” he says. “That has really been tough, and is tough. We are 24-hour manufacturing operation… we have had to increase our wage bill quite significantly and bring in initiatives to attract people.” The company is however turning its attention to going green, including an ambitious decarbonisation plan. It’s currently working to develop and introduce biomethane to fuel its plant here. “Northern Ireland has a fairly big agriculture industry – there is a lot of grass and animal waste. We are early in that journey with Queen’s University.” It’s also working alongside body Glass Futures to look at the use of hydrogen power in the near future. “There are significant announcements coming up soon,” Adrian says. “We think there is a path if we get support from government. It’s not an easy switchover, but we could get to a point to [be able to] decarbonise operations and the rest of the industry.” And looking towards its continued strong profit growth, Adrian says with a long history – almost 25 years – alongside innovation and investment, the company has maintained a good margin, and put money back into the business. ■

TAX

Tax and business planning key amid turbulent economic environment

ffective tax planning and advice has never been more important for businesses in Northern Ireland.

RB Chartered Accountants is now a team of 15, based in the heart of Belfast and headed by founder Ross Boyd – specialising in accountancy services for owner-managed businesses and the not-for-profit sector. It’s a firm which is also ensuring it moves with the times, and embraces the latest in cloud computing, automation and digitisation when it comes to dealing with its clients. And given the current economic conditions ahead, Ross Boyd says it’s never been a more important time for companies to assess their business model and ensure they plan for the future. “Not long ago, we were seeing bookkeepers and businesses using ledger books and calculators,” Ross says. “Over the last few years, RB Chartered Accountants has moved towards the use of sophisticated cloud-based products. “We have a strong team based in James Street South. In the last 12 years we’ve developed specialist skills by working with a variety of sectors including solicitors, pensions, ownermanaged businesses and not-for-profit organisations.” Ross says the company is continuing to expand its reach, and its team. “We are keen to grow and attract the best local people,” Ross says. “We are seeing growth in the not-for-profit audit work, servicing Northern Ireland clients. We are among those leading the market with our owner-managed business solutions by embracing cloud technology to transform accountancy.” And Ross says with the current economic climate, soaring inflation and input costs, getting the right advice and assistance has never been more important for firms.

Ross Boyd, founder of RB Chartered Accountants

“We have been predicting this inflation rise since last November and have been working with our clients in preparation,” Ross says. “What we find is many people running businesses aren’t familiar with inflation – you have to go back to the 90s to remember an inflationary economy. “Tax planning is key and whenever there is a major change in the economy, it should be a signal to review your business model and priorities. “Things are changing all the time, and costs can be saved relatively easily – but as a business you must invest to achieve those savings. “Pricing, for example, is critical and a tough thing for many businesses. some find it hard to say to customers, that things have changed. In many cases businesses may have only a few percent in terms of their net margins. They may be able to change their operational model, buy differently or adjust their price points appropriately.” Ross says businesses have had to face a wave of different pressures over the last few years. Recently there has been a rise in the cost of energy along with increased pressure on wages, but options exist to mitigate these.

“In reviewing a business and its plans we see some clients in the current environment which are thriving, generally in sectors which are in demand and have high margins. Assessing the future demand is key to growth. “So, where some competitors are performing better than others. It’s key to understand how to structure a business correctly, to maximise each entities performance. “And if we look ahead, businesses are set to face significant tax rises with the introduction of higher corporation tax rates from April. “It’s another costs, like rent, which businesses have to pay and this can be a big figure. I would always advocate looking at it early and ensure you are planning ahead. That’s key to a business’s success in tax planning.” And while the UK political situation goes through yet more uncertainty and turmoil following the resignation of Prime Minister Boris Johnson, Ross says some form of tax relief may be on the cards for the Autumn Budget. ■

TOP 100

Adrian Doran: It’s time to build confidence and back investment

his year marks another tough period for firms right across Northern Ireland. The challenges well reported and are keenly felt by many both personally and professionally. Yet our top 100 companies are weathering the storm. As custodians of the NI economy, they’re working hard to reduce the detrimental cost of living impacts for their employees and customers right now, while keeping their minds focused on the future. Here too at the CBI, we have been providing insight and information to help the economy, alongside our efforts to influence policymakers to create the conditions for NI companies to prosper. Top of that list is urging politicians to get past peak politics and focus on the measures that secure economic confidence and competitiveness in these uncertain times. Because if we can get our economy thriving once again, we can build back better, reduce inequality, make the transition to lower carbon quicker and create green jobs. Immediate action can stave off recession risks From furlough to recovery loans, business grants to the Super Deduction, Government and Executive measures insulated some of the worst-hit sectors during Covid and helped pave the way towards economic recovery.

Yet no-one expected the pandemic to be followed by war in Europe, nor did they wish for a collapsed Executive. Ongoing political grandstanding on the Protocol is unwelcome too among the vast majority of NI firms who continue to trade well. Rising inflation, energy price pressures, skills shortages and supply chain challenges have also rocked the economy.

As you can imagine, this is reflected in the latest CBI Economic Forecast, which has downgraded GDP growth expectations significantly to 3.7% in 2022 and just 1% in 2023 – compared to previous predictions of 5.1% and 3% respectively. It’s well known that the NI economy was hit harder than other parts of the UK during the pandemic. But it has been very encouraging to see more optimistic GDP data now being reported here in Northern Ireland. Urgent action is needed to keep this momentum up. It is time to do what we can to grip the situation and make bold decisions to mitigate the impact on our economy. Reasons to be optimistic There remains one big reason for optimism. Despite real household incomes are falling at the fastest rate since the 1950s, and consumers are reining in their spending accordingly, business investment remains one bright spot. The confidence driving that investment is undoubtedly beginning to wane – but if we act now to shore up business belief, and bolster ambition, then private sector spending can help keep the risks of recession at bay.

It’s also clear that the UK Government must not wait until the Autumn Budget. Alongside measures to help households, companies need to see a full commitment from them to establish a permanent successor to the Super Deduction – which ends next year – to ensure firms continue to see investment rewarded. Local recognition of concerns around infrastructure, energy reforms and labour shortages each play an important role in rebuilding business confidence too. Let’s take each in turn. Cutting approval times for major infrastructure projects and delivering the path to net zero strategy would show Northern Ireland is serious about both improving energy security and meeting its net zero goals. Industry also needs to see signs that policymakers are getting real on companies’ concerns around labour shortages. Getting on and delivering Skills for a 10X Economy, while also creating a new UK-wide shortage occupation list can address headaches in sectors like hospitality and agri-food with obvious staffing gaps.

We need to take steps now to maintain business momentum – and there’s a variety of ways in which to overcome the challenges we face alongside seizing the opportunities available to us.

Together these are the main levers that must be pulled to put us back on a path to prosperity and secure a brighter outlook for long-term. They can reassure businesses that the pressures they are feeling will ease, that there are brighter days ahead for them, their employees and customers. And that they do not have to – and should not – scale down their ambitions, because their current concerns have been recognised and being remedied.

Action that’s needed now Top of that list is a functioning Executive and smoothed Protocol, as they are our strongest sources of competitive economic advantage. The Executive can then get on with implementing the 10x Economic Strategy.

So, let’s put our shoulders to the wheel this summer by building confidence and doing all we can to back investment. In the ultimate pursuit of creating a competitive, dynamic, future-focused NI economy for the decade ahead.

TOP 100

It has been an honour and a privilege to serve as CBI NI chair for the last two and a half years. I very much look forward to continuing to speak up on behalf of the business community, supporting Elaine Birchall, CBI NI’s fantastic new chair and CBI NI director Angela McGowan. Together, we will remain vocal so the NI economy can be kept on the route to better living standards and sustainable growth for everyone. ■ Adrian Doran is CBI Northern Ireland vice chair

Adrian Doran

AUGUST 2022

PROFILE

The future of workspaces T he working world has changed, ‘hybrid’ working seems to be the norm and employees expect more than ever before. The workplace environment is important for employee mood, health and wellbeing, work ethic, collaboration and concentration. Spaces for individual concentrated work alongside spaces for collaboration and socialising are both essential to employee satisfaction and overall productivity. “Providing spaces where people have control over their environment, access to natural daylight, spaces to relax and take breaks will result in enhanced performance, happiness and satisfaction. When people perform at their best individually, they feed into the collective more effectively” - Hannah Nardini, 2022.

What will the workplace look like in 2030? ⬤ A huge rise in self-employment and freelance ⬤ Office-less companies and more working from home ⬤ Collaborative based teams rather than management based ⬤ Employee empowerment will become a priority ⬤ Smart ‘home tech’ will come into the office ⬤ Virtual reality meeting spaces for an ‘inoffice’ experience. Complete flexibility to suit individual employee needs. We can see big changes within the workplace environment ⬤ The UK is currently trialling a four-day work week ⬤ Employee turnover has risen as people search for most flexible and benefit

centred employers ⬤ Managerial tasks are becoming more automated to allow management to spend more face-to-face time with employees ⬤ Employees and job searchers are expecting higher salaries and more benefits ⬤ Employers are finding it difficult to encourage people back to the office ⬤ Airbnb’s work-from-anywhere policy. “We are seeing signs of a shift within the Generation Z demographic since the pandemic. For some, being in the office and around experienced people to learn from is going to be vitally important. We are likely to see them want to be in the office for their professional development but the office needs to support this and not drive isolated working” - Hannah Nardini, 2022.

PROFILE

Gen Z entering the workforce Gen Z are here and ready to join the workforce. Are you ready to meet their expectations? ⬤ This generation expects a lot from the moment they begin their careers ⬤ This generation is the most likely generation to job-hop to find the company which suits them best ⬤ Flexible working to work around their lifestyle ⬤ Workplaces to allow them to have a personal brand showcasing their talents ⬤ A hybrid work environment with the option to work from the office to learn off older generations and build professional relationships ⬤ Workplaces which support personal growth and will put them through qualifications ⬤ A salary which meets their needs with rising costs and is accurate to their job responsibilities ⬤ Quick promotion opportunities.

AUGUST 2022

Businesses need to adapt The past two years have shown us that life can be unpredictable and change at a moments notice. That we need to adapt and change with the circumstances. Therefore there is no way to predict exactly what the future holds, however, from the expectations of the new generation of workers and an aging population, it is clear that businesses need to change and adapt to keep top talent. Innov8 Workspace Solutions are here to help. We can offer an office transformation to prepare you for the future. Innov8 are experts in creating innovative office spaces with industry trends and stats in mind. Get in contact to take your first step in preparing for the future.

Innov8 Head Office and Design Centre Innov8 Workspace Solutions Ltd, 384 Donegal Road, Belfast, BT12 6FY hello@innov8office.com 028 9023 8180 www.innov8office.com

Michael Hanley

28 Lakeland Dairies

akeland Dairies remains one of Ireland’s largest dairy cooperatives which counts more than 3,000 suppliers and farmers among its members. The Co Cavan-headquartered company, which collects approximately two billion litres of milk from 3,200 farms across 16 counties on both sides of the border, generated £1.1bn according to its latest all-island accounts, an increase in real terms of 20%. It comes in at the number 26 position on this year’s Top 100 Northern Ireland Companies 2022 list with A&L Goodbody, according to accounts for Lakeland Dairies (NI). Lakeland’s business here according to accounts ending in December 2022, show turnover sitting at £316.2m, up from £247.7m a year earlier. The company posted pre-tax proﬁts of £216,000 during the same period according to accounts for Lakeland Dairies (NI). In Northern Ireland, Lakeland has food ingredients, foodservice and consumer dairy processing centres at Artigarvan close to Strabane, Ballyrashane outside Coleraine, Banbridge and a global logistics centre in Newtownards. Across the whole business, operating proﬁt was £23.6m, an increase of 8% from 2020 and closing the year with a shareholders’ funds balance of £193.4m.

AUGUST 2022

Speaking about its latest full results, Lakeland Dairies group chief executive Michael Hanley has said they reﬂect prudent management amid a competitive and increasingly volatile trading environment.

market conditions through 2022 albeit there are signiﬁcant challenges in our operating environment, including inﬂationary pressure on all costs, as economic uncertainty in light of the pandemic and geopolitical issues persist.”

“The ﬁnancial results and accounts for the year are both prudent and satisfactory,” he said. This is particularly so in the context of an intensely competitive trading environment, when the achievement and maintenance of strength, sustainability and resilience have never been more important for globally focused businesses.

And Lakeland Dairies’ chairman, Niall Matthews, said the business “operates in a complex global environment and marketplace where the pace of our innovation, and our operational and business performance, must constantly adapt to meet a very wide range of trends and imperatives for the short, medium and longer terms”.

“This enabled Lakeland to pay a competitive milk price, also reﬂective of overall market conditions, throughout the year.

“The two billion litres of milk produced by our dairy farmers is manufactured into the highest quality, natural and wholesome dairy products, creating long-term value for our dairy farmers and our customers throughout the world. The economies of scale we have achieved and the robust performance of our business will continue to support our progress, building further on our strengths as a large scale, farmer owned dairy cooperative.”

“The world needs high quality food. This demand is growing and dairy provides the solution. We are therefore concentrating on our long-term global contribution and valuegrowth through the strength of our market presence and the robust quality of our supply chain. “We will continue to innovate in everything we do to ensure the future sustainability and success of our business in the interests of the milk producers and customers who we serve.” “We are focused on a sustainable future and the creation of further value for our dairy farmers. We expect relatively stable dairy

The farmer-owned business has a portfolio of 240 different dairy products across four divisions, food ingredients, food service, consumer foods and agribusiness, produced at eight sites. It exports to over 80 countries. Its food ingredients division reported revenues of £696.6m after producing 280,00 tonnes of enriched powders, proteins and dairy fats throughout the year. ■

TRANSPORT

Translink – Better. Connected A modern and successful public transport system remains key for Northern Ireland as we head towards a cleaner and greener economy, writes Translink group chief executive Chris Conway

n effective and successful public transport network is vital for the economic, social, and environmental wellbeing of our society. That’s why we are committed to continuing the transformation of transport in Northern Ireland, not just to drive a growth in bus and rail passenger numbers but to encourage a shift towards other sustainable active travel modes, such as walking and cycling. Our focus for the next decade will be on the theme Better. Connected. Better means that we will strive for excellence in all that we do, improving services and accelerating climate action. Connected is what we want for our people and communities, including the development of a fully integrated transport network and enabling of wider Northern Ireland Executive policy objectives. Our buses and trains are vital for communities

in Northern Ireland, with over 12,500 services provided every day, helping to get people to where they need to be, reducing traffic congestion and improving air quality. In recent years, more and more people have been discovering the benefits of a modal shift away from the private car; in 2019, we recorded over 84.5 million passenger journeys, the highest such figure in 20 years, helping to remove over 70m car journeys from our roads and saving 100,000 tonnes of CO2 from our atmosphere. Since the peak of the pandemic, passengers have been returning to our services, a pattern that we expect to continue going forward. The pandemic has made us all realise what is truly important, including health, wellbeing and the environment; it is also clear that we can no longer ignore the climate crisis and that the time to act is now. The lockdowns gave a vision of what a cleaner, healthier and less congested Northern Ireland might be like, and the global improvement in air quality during

the 2020 lockdowns, at a time when public transport continued to operate regardless, speaks for itself. There is no doubt that climate and air quality together present some of the biggest challenges facing the world today; however, public transport is well placed to address this, driving the change towards a healthier, more active and better quality of life for future generations. Translink’s climate ambitions are to deliver a fully zero emission Metro fleet in Belfast by 2030, with approximately a third of the fleet already operating on battery electric or hydrogen technology. Next year, Derry~Londonderry is on course to become the first city in these islands to operate a 100% zero emission urban fleet, and a bus procurement strategy will ensure that our entire fleet operates on zero emission technology by 2040.

TRANSPORT

track and signalling infrastructure between Derry~Londonderry and Belfast, which has the potential to improve frequency and journey times along that vital inter-city link. We await the publication of the findings of the All-Island Strategic Rail Review, with potential impacts on greater all-island connectivity and expansion of the network, as well as potential additional usage of the network, and we continue to assess the possibilities of the UK Government’s Union Connectivity Review.

Translink’s Chris Conway

Similar progress is underway on our railway network, which will transition from diesel to zero emission technology in the same timescale. This will include the enhancement of the flagship Enterprise service, and we are working to deliver both a faster, more frequent service and an enhanced fleet on the cross-border rail service, jointly operated with Irish Rail. By the end of this decade, we will be transitioning to zero emission rail fleet. This is in line with our ambitions to achieve net zero by 2040 and climate positive by 2050. The reliability and improvement of the North-West rail corridor is a priority for Translink, and we are working with the Department for Infrastructure to enhance the

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Delivering better services means delivering better facilities, and we have plans to provide enhanced bus stations across our network, as well as improved train stations at Ballymena, Lurgan and York Street, sitting comfortably alongside the multi-award winning North-West Transport Hub in Derry~Londonderry, as well as growing the number of Park and Ride spaces. However, the centrepiece of our facility investment in the years ahead will undoubtedly be Belfast Grand Central Station, which will not only enhance connections and capacity but act as a catalyst for regeneration and deliver a new city neighbourhood. Scheduled to be operational in 2024, Belfast Grand Central will replace existing facilities at Europa and Great Victoria Street and will anchor the proposed Weavers Cross city district. While climate change is a clear driver in all that Translink does, there are very clear economic, health and social considerations. Public transport can help to reduce pollution and is key to decongesting our town and city centres,

making them more attractive places to live, work, shop, study, visit and socialise. An effective bus and rail network is key to growing our economy and expansion of the retail and commercial sector. Pre-pandemic research conducted by Grant Thornton revealed that per-head spend when public transport is used for shopping is £46, rising to £50 when it is used for socialising. In respect of public health, it is estimated that approximately 800 deaths every year in Northern Ireland are attributable to air pollution, at great cost to our health service. A shift to public and other sustainable forms of transport can help to reduce the risk posed by air pollution in our environment, driving a change towards a healthier lifestyle for many and busier, more attractive urban centres, as well as connecting communities, benefitting our environment, our economy and our health. Public transport is truly cross-cutting, and will impact on all aspects of the draft Programme for Government. Translink’s vision to be your first choice for travel, today for tomorrow, will play a key role in building a Northern Ireland that is environmentally sound, economically competitive and socially inclusive. ■ More information is available online at www.translink.co.uk/betterconnected

IT & TECHNOLOGY

Vyta: leading the way and with further growth on the horizon

IT recycling business Vyta has become one of the largest firms of its kind across the UK and Ireland, working with major public and private sector organisations and businesses as well as ramping up growth and expansion, while further acquisitions could also be on the cards, according to chief executive Philip McMichael

hat started off life as a small computer shop in south Belfast has blossomed into a burgeoning IT recycling business with further expansion on the horizon.

120 staff and is heading towards turnover of around £20m a year. Philip McMichael, chief executive of Vyta, has spent more than 20 years in the industry, and spotted a gap in the market a few years back.

Vyta has expanded into one of the largest IT asset disposal companies in Ireland and the UK, working with giants of industry. It’s also just completed a major £11m acquisition of a firm in Essex as part of its expansion plans.

Vyta counts a wide range of both public and private sector businesses and organisations among its clients in Northern Ireland, the Republic and across the UK.

Vyta is a business which employs around

“We provide services to some of the biggest

names. Firms working across finance and accounting, pharma, IT and software for example,” he says. Vyta specialises in IT recycling, equipment collection and disposal, ensuring total data security and protection along the way. Philip says the firm’s strength and successes lie across a range of areas, including a high level of service, with much of its work coming through recommendations and word of mouth.

Philip McMichael

IT & TECHNOLOGY

“We work with a wide range of staff, from those in an office environment to lorry drivers to tech and asset processors,” Philip says. “We have to provide an interesting and challenging environment for those staff and we are looking towards putting in place a new more structured training programme. It’s about bringing people in and showing them the business, developing the staff and giving them the opportunity to grow as the company does.”

“Clients know that when they hand over data to us it will be processed in a secure manner,” Philip says. “We also take the environmental side of business seriously, too. “We have a big focus on reusing the equipment where possible. It’s a much more sustainable way of doing things. “We are good at what we do. From a data security perspective we score well in audits and have one of the highest levels in compliance.” After spending several years selling refurbished IT equipment, Philip and his business partner John spotted a gap in the market for secure data destruction and co-founded Vyta. And the company’s ethos and outlook is key to how its approaches business.

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plans for slowing down. Philip says with a move towards increased cloud computing and the use of technology in general, accelerated by the pandemic, there are now more opportunities for the firm in the near future. “There have been more opportunities presented to us, more assets are being moved and with clients moving to the cloud we are providing services there too,” he says. “Disk shredding on site, for example, we are continuing to work in those markets.

Vyta estimates the market for its services in Ireland and the UK is in excess of £300m, with further opportunities in Europe.

“There’s been a move away from desktops while demand for laptops and servers has increased.”

And the company has seen a boom in business over the last few months as a result of the Northern Ireland Protocol.

Philip says further acquisition could be on the cards to continue the firm’s growth plans, with recruitment also continuing across each of its sites, including Belfast, Dublin and Essex.

“It’s been a boost to us and the Northern Ireland economy,” he says. “The opportunities it has provided have been fantastic and are helping to grow our business.” Vyta’s latest rapid expansion came about as a result of the takeover of Essex-based IT disposal company FGD, following an £11m investment from MML Growth Capital Partners Ireland (MML). That’s seen the firm’s overall workforce grow to more than 120 across the business as a whole. Looking towards the future and Vyta has no

“We are fortunate to be in an industry with lots of growth. There’s a continual growth in the use of devices, whether it’s personal or work. “There are also lots of changes within infrastructure and larger data centres. Going forward we would look at further acquisitions. “Following our acquisition in England we have that opportunity again, and into Europe. The focus on the next 12-24 months will be a couple of acquisitions into the UK and mainland Europe.” ■

INTERVIEW

‘We’re ready to create hundreds of jobs for Belfast’ In a short space of time specialist cyber-security business Angoka has expanded its main base in Belfast. Its executive chairman Steve Berry tells John Mulgrew about its world-leading tech, creating hundreds of jobs here, political uncertainty, skills shortages and why we need to have a new approach to attracting talent here

teve Berry says his specialist cybersecurity firm Angoka could create hundreds of jobs for Northern Ireland over the next few years. And he says the firm plans to double overall staff numbers to 50 in the coming months, while its wider plans include hundreds of topend jobs for Belfast. But he warns there remains a hiring crisis for the wider IT sector, both here, and across the globe. He says organisations need to attract people to relocate to Northern Ireland as there are not sufficient staff here to carry out many of the roles as the sector grows. “We are just finishing our next funding round which takes us to 50 people. We would very much like to maintain the ratio of half in Belfast, but ideally more,” he said. “After that, the businesses that we are in would lead to several hundred people in Belfast as we grow here and internationally.” The company has its main base in Belfast, along with offices in London and The Hague in the Netherlands, while Steve says it has plans for future sites in Germany, Singapore and Detroit. And on Northern Ireland’s current political stasis, he says he’s left “bemused”. “It doesn’t send the right message to people looking to relocate,” he said. “People just want to get on with their lives. The politics seems incredibly juvenile.”

Steve has more than 35 years of experience in the industry and his firm is working on leading technologies around the internet of things (IoT).

But he says there are not enough people in Northern Ireland to fill many leading IT jobs as the sector expands, and more must be done to attract people from elsewhere to these shores.

The company is one of just a few firms specialised in next-generation security, protecting machine-to-machine communications.

In terms of attracting business to Northern Ireland, and creating roles here, Steve says the model must change.

That includes working across autonomous vehicles and drones, alongside some giants of industry.

“Northern Ireland needs to move away from just subsidising job creation,” he says. “... we need to get away from that.

“The technology behind Angoka started around five years ago as a result of receiving an Innovate UK grant… that was for research to look at the next generation security for connected vehicles,” Steve says.

“There are not enough people and it creates an environment in which companies are stealing staff from each other. Take that money and give it to firms who get people to relocate.

“I had read a lot about connected and autonomy vehicles. Then we found out about The Centre for Secure Information Technologies (CSIT). It specialises in the same type of security which Angoka is focused on, such as hardware encryption. “We got selected to be in the CSIT labs programme and helped verify the technology. As a result we got to know the ecosystem and got to know Catalyst. “When we realised we had built something, technology with intellectual property which could be turned into a business, we decided to spin it out of another cyber security business. We decided on Northern Ireland. “Belfast is very good for engineers. We don’t need to have this business in London at all, that’s no advantage at all.”

“One of the big tasks is ‘how do you attract people from outside the country to relocate to settle in Belfast’? You can’t just hire graduates as we need people with three to seven years’ experience. “There’s a six month runway. Everyone wants very skilled individuals.” Steve says the firm’s grand plans for expansion, and most importantly job creation here, are dependent on its ability to find enough of the right people. “Whether we can keep that up depends on access to talent,” he says “There’s a huge shortage of quality people in general. “Northern Ireland is particularly difficult because it’s not a traditional relocation environment here. Belfast is a great place to live. The city itself is superb and within 20

INTERVIEW

minutes you are in nature, there are beaches.” And on the current situation with the NI Protocol – retaining Northern Ireland’s access to the EU single market – Steve says we “should be taking advantage as it’s the best of both worlds”.

Steve Berry

“Belfast is very good for engineers,” he says. “We don’t need to have this business in London at all, there’s no advantage. We have proximity to Queen’s University and The Centre for Secure Information Technologies (CSIT) and have very good relationships with firms such as Spirit AeroSystems and Thales.” Speaking about the technology which Angoka employs, Steve says the “secret sauce” is the way in which it integrates it. “We are decentralised. Our sector is focused on the device, not on the network,” he says. “It’s very different. Most IoT security is software-based on a network or on a central exchange. “We have a number of projects in the UK concentrating on passenger shuttles. It’s starting to move to first stage operational and we are expecting Belfast to be a beneficiary of that. “As the market expands in terms of connected devices, the use of the technology will grow.” ■

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38 Norbrook N

orbrook’s legacy as a one of the stalwarts of Northern Ireland’s modern industrial giants shows no sign of abating. The pharma firm, founded by the late Lord Ballyedmond in 1969, has shot into the number 38 spot on this year’s Ulster Business Top 100 Northern Ireland Companies list with A&L Goodbody, up from 41 a year earlier. And according to Liam Nagle, who has been chief executive with the firm since 2015, the company’s planning to hire another 200 staff this year and invest up to £20m into the business each year. He told Ulster Business that the NI Protocol has been “positive” for the firm and its removal would see its costs soaring. The industry giant has seen its turnover rise to £231.4m for the period ending July 2021, up more than 9% from £211.7m a year earlier.

And during that same period it posted substantial pre-tax profits of £27.3m. That’s up considerably from £4.2m a year earlier. Norbrook is a world-leading provider of veterinary pharmaceuticals for the health of farm and companion animals. Headquartered in Newry, Norbrook has a presence in more than 100 countries, with facilities in the UK and Ireland, Europe, the US, Africa and Australia. The company was formed by Lord Ballyedmond, a business he grew into one of Northern Ireland’s largest and most successful businesses. During the pandemic the firm, like most others,

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faced challenges, according to Liam Nagle. “We had previously dealt with a number issues, as well as supply chain issues in terms of delivering from manufacturing facilities here,” he told Ulster Business. The business adapted and dealt with the Covid-19 pandemic, with essential manufacturing and development continuing, with face-to-face meetings and customer visits now back. Like the majority of other companies there remain some supply chain issues, primarily around costs, including freight, along with the impact of inflation on input costs. “The veterinary pharmaceutical sector continues to be strong and buoyant,” Liam says. And with that the markets are also changing and evolving, with sales to the US rising from around 30% to 40%. “We launched a number of new products which performed well, and companion products. That’s a market which has grown.

“Without the NI Protocol we would be heading into a hard Brexit environment and we could have a permanent cost duplication.” Norbrook continuing to expand, both here and across its global footprint. It boasts around 1,600 staff in Ireland, with 2,000 internationally. And Liam says the company has added 200 staff since January, with plans for a further 200 throughout this year. Those roles will be in production – quality control and labs – as well as other functions. Nobrook is also a business which continues to invest significantly. “We continue to invest in terms of capital,” Liam says. “In the last six years it’s been in excess of £100m in capital expenditure. That has gone into new labs, upgrading utilities and services, investment in health and safety, and environmental work.” And in terms of its key place in the private sector landscape and position on the Top 100, Liam says being a locally and family-owned firm has significant strengths and advantages.

“We are in a sector which is cautiously optimistic but concerned about inflation and other pressures the economy will have.”

“I have worked almost 20 years in family businesses. They give an organisation some advantage that plcs don’t have around a long-term view on investments. There are close personal relationships.”

Liam says the NI Protocol has been “positive” for the company, and without it would mean having to double-up testing arrangements and seeing costs surge as a result.

That also includes a workforce which tends to stay with the company for a long period of time. Liam says more than 600 staff have been with Norbrook for more than a decade.

“It is positive for us. It means we can test and release our products… if we didn’t have it we’d have to test in Newry and then elsewhere in Europe… (there would be) a permanent cost disadvantage.

Heading towards the future, he says it will continue to invest between £15m-20m over the next few years. But while it wants to expand its workforce Liam says recruitment remains a challenge for all employers. ■

Liam Nagle

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TOP 100

Seamus Leheny: Confidence returns to logistics but time to end setbacks

suspension of P&O Ferries’ services at Larne for several weeks. However, despite some fears of supply chains collapsing, the industry kept the wheels of the economy moving.

However modern supply chains continue to evolve at a fast pace and with ‘just in time’ deliveries becoming the norm and the growth of online retail, logistics is continually exposed to risks that can impact time sensitive supply chains.

Today, overall business confidence has exceeded pre-pandemic levels in the logistics sector. Looking at this year’s Top 100 list we can some of the key companies in the industry and the strength with which they have performed over such a challenging time in business.

ogistics is a problem-solving industry, operators agree to move someone else’s goods that they’ve either made or selling and get it from A to B.

The disruptive forces and demands facing our sector today are placing an extraordinary requirement on businesses moving freight to adapt, cut costs and increase efficiency at an astonishing pace. The height of the Covid-19 pandemic brought its own challenges, especially of business resilience in the face of the economic dislocation brought on by the public health crisis. Seemingly without a pause the logistics sector has needed to adapt yet again to the reopening of society, rapidly escalating energy costs, rising inflation and a cost-of-living crisis. All this while addressing the seismic shift in individuals’ purchasing habits and the move to online shopping. As a result, there is significant disruption to the global supply chain with increasing demand for freight, as well as a tightening labour market which has led to critical shortages of those with core skills. In the just the past year in Northern Ireland, we have experienced several significant impacts on the logistics industry that individually would be deemed hugely significant on their own. The industry has faced the consequences of Covid, ongoing impacts of Brexit, labour shortages, escalating fuel costs and the

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Business investment, competitiveness, revenues and profits were up as of January 1, 2022 compared with the past two years, as was decarbonisation progress and the use of new alternative fuels. Fuel prices rocketed in the beginning of 2022 and recruitment has worsened in the face of record vacancies and skills shortages in the industry. The logistics industry is a significant contributor to the UK economy, with 226,000 enterprises employing over two million individuals unequally distributed across the UK. Locally here in Northern Ireland there is just over 5,000 enterprises involved in some form of logistics employing 2% of the total UK logistics workforce, that’s approximately 40,000 people locally involved in keeping our supply chains moving. Moreover, according to the latest data, the industry added £139bn of value to the UK economy in 2019. Additionally, there are positive signs for logistics in 2022. The economy is expected to perform better or the same as 2021 with 39% of road freight firms who responded to the Logistics UK Industry Survey 2021/22, planning to increase the size of their fleets. Nevertheless, there should be some caution as there were 118

insolvencies in the logistics sector in 2021: 86 in road freight, 29 in warehousing, and one in water freight. On competitiveness, in 2021, the cost of shipping to the UK was 24% higher compared with mainland Europe, as a result of the supply chain crisis. Air freight rates increased by 70% on some routes in 2021 as competition for belly hold space intensified with many passenger planes grounded during the year. Brent crude, the internationally recognised benchmark for crude oil, rose 52% in the year the December 2021 to $76 per barrel. The current supply chain disruption began at the onset of the Covid-19 pandemic in March 2020, when lockdown restrictions were implemented globally. The end of the Brexit transition fed into labour shortages, in particular, of HGV drivers as haulage firms struggled to hire drivers even with record hikes in wages. Strain on the supply chain will last well into 2022 and beyond. Ongoing political instability will be a main driver in maintaining high fuel prices, as markets adapt as they look to other sources of fuel supply. On sustainability, the sustained growth in online retail has seen congestion levels return to pre-pandemic levels. While fleet operators are seeking an 80% reduction in emissions by 2050, decarbonisation targets pose serious challenges. Government objectives propose diesel and petrol engines of vehicles between 3.5 and 26 tonnes be phased out by 2035 and by 2040 for vehicles over 26 tonnes. Logistics UK member feedback suggests 87% of logistics firms are considering decarbonising their fleet. Locally in Northern Ireland, we need

TOP 100

Seamus Leheny

to see progress on the availability of alterative fuelling infrastructure and charging points if operators are to be encouraged to start using electric, gas and hydrogen on alterative fuel sources. On electric charging devices, we only have 348 in Northern Ireland (that’s 28 for every 100,000 vehicles) which is a lot less than all the other UK regions such as Scotland that has 2,953 (96 per 100,000 vehicles). For now, the future of electric vehicles in logistics is firmly with vans but it’s clear we need investment in our charging infrastructure and our electric grid. While 26% of logistics jobs are considered low-skilled, this is greater than the national average, where they represent only 9.4% of all jobs in the economy. In quarter four 2021 the number of HGV drivers in employment fell by 49,000 to 265,000 from quarter four

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2019, making the workforce 15.6% smaller than it was before the pandemic. As consumers have moved to more online shopping, demand for logistics jobs has grown. Last year saw an acute shortage in many roles across the logistics industry underscored by an unprecedented driver shortage. Logistics staff shortages are expected to continue in 2022 and there is likely to be an increase in staff gross pay. Many of our local authorities have recently invested in HGV driving apprenticeships that have often been over subscribed and benefited many logistics operators within those boroughs. This is welcome but we still need to see the stalled Department for the Economy scheme from 2021 that proposed an all-age apprenticeships for HGV driving get funded and delivered across Northern Ireland.

As I stated earlier, logistics is a problemsolving industry and recently it has faced many different problems head on and has overcome all while not letting down the economy it services. This year’s Top 100 list shows just how resilient many of our largest businesses are, and how strongly they have performed amid a myriad of challenges. Moving forward, it’s time that the industry stopped continually facing problems and instead gets the assistance from government that it deserves to help it tackle skills shortages, the energy transition and a sensible agreed outcome to the Brexit and Protocol negotiations. ■ Seamus Leheny is policy manager, Northern Ireland, for Logistics UK

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Ian Haldane

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59 Haldane Group I

t’s a brand many of those working in construction and beyond will certainly recognise, and it’s a business which has also continued to witness steady growth and expansion. Haldane Group has its base in Newry but boasts almost 20 branches across Ireland, the Isle of Man and England with its Haldane Fisher brand, and is a leading supplier to the construction industry in the UK and Ireland comprising of timber importers, builders and plumbers merchants.

Along with Haldane Fisher, the group also includes importer GE Robinson, ironmongery specialist Key Hardware and specialist timber importer Prowood. The group saw its turnover rising to £132.3m and pre-tax profit increasing to £7.1m, according to accounts for Haldane Group Ltd ending December 2020. That puts it in the 59 spot in this year’s Ulster Business Top 100 Northern Ireland Companies, with A&L Goodbody. Operating across 21 branches with over 700 employees, the business serves trade customers and the public offering a large range of products from timber and building materials to plumbing and heating, landscaping products, specialist timber products and home improvement products to internal finish such as bathrooms, kitchens and doors. The company has grown organically and through acquisition since it was founded over 75 years ago in 1946, and remains a familyrun business. “Our group performance in 2021 showed significant growth as we supported strong levels of activity across the construction and home improvement sectors, as well as growing our presence across a range of target markets,” Ian Haldane, group managing director, said. “We are immensely proud of how colleagues have pulled together at a challenging time for all businesses and we recognise the impact of our team’s approach to great client service. “Ongoing areas of focus include the health and wellbeing of our workforce and enhanced communication. We continue to support and invest in our people through training programmes and improved systems of work.

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“Our dedication to providing high levels of customer service is reflected in recent investments across our branch network and our commitment to ensure we provide a tailored experience based on our understanding of our diverse client base.” The group says it has continued to grow its business in Ireland, the Isle of Man and the north west of England. Following a significant investment in 2021, the company acquired Wigan-based firm Prowood, which specialises in the importing, saw-milling and distribution of softwoods and hardwoods. And in 2020, the company began trading online through Haldane Fisher Northern Ireland and in 2021 through Key Hardware. “We’ve made it easier to do business with us through the enhancement of our online trading platforms and this has presented us with an opportunity to serve the needs of a wider customer base,” Ian said. “Services such as roof truss manufacturing, timber treatment, timber machining and timber laminations provide differentiation from our competitors and help to drive better client service with great attention to detail. “We believe we are improving our business as a whole at present, with a number of significant projects taking place to improve the efficiency of our processes through the increased use of technology. “Continued growth across our key sectors is supported by improved efficiency and development of key policies around branch management, sales coordination and internal processes. “The post-pandemic economy presents both challenges and opportunities and we continue to look to the future with optimism.” ■

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TOP 100

Marguerite Shannon: The past, the present and the future

he pandemic has undoubtably altered how we do business, from how we shop to how we work, consumer behaviours and working patterns have shifted. Although not all changes will remain permanent, many will either fully or partially form part of our ‘new normal’ at home, in work and beyond. Consider how we shop, there was a monumental shift to online sales during 2020, businesses scrambled to develop websites and online sales platforms to continue trade. At their peak, internet sales accounted for over almost two-fifths (38%) of total retail sales and whilst this has since come down to around one-quarter (26%), business are likely to want to hold on to their online platforms as a higher proportion of online sales is a trend set to stay – the rate of internet sales has not fallen below 25% since March 2020.

How we work (for many) has also changed. The proportion of people who (complete or regularly) worked remotely in Northern Ireland (NI) before the pandemic was less than 10% but as government guidance stated people should work from home if they can, this figure reached 41% in 2020. The guidance has now changed, but there has not been a mass outpouring of workers from homes into offices. A recent survey from the Office for National Statistics (ONS) reported 42% of homeworkers in Great Britain still intended on working mostly from home in the future. There are other trends that have not made it through the long haul. Initially, restrictions on social activities contributed to an accumulation of savings among consumers. The proportion of income people saved increased from around

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6% at the end of 2019 to almost one-quarter (24%) by the second quarter of 2020. Although a relatively higher savings ratio hung around for about a year, the most recent data has seen savings rates return to more ‘normal’ levels. All in all, many of the changes that have stuck are not new but rather an acceleration of existing trends, leaning to the idea that we have ‘covered a decade in a day’, but what has this meant for the economic recovery? The labour market has almost returned to pre-pandemic numbers, total jobs in the first quarter of 2022 was around 98% of the prepandemic level and hours worked was 99% of pre-pandemic levels. That is, we roughly have the same number of jobs working at the same hours as we did pre-pandemic. In addition, recent estimates from the ONS have shown positive economic growth in NI for the last four consecutive quarters, up to the first quarter 2022. In particular, several sectors have returned to or exceeded pre-pandemic levels of jobs: education, public administration, professional services, real estate, manufacturing, accommodation and food, and health. With the three public sectors featuring in this list, the recovery is somewhat propped by a larger public sector in NI. However, there remain groups struggling to recover to pre-pandemic levels. Young people saw their employment rate fall by 14 percentage points over the pandemic, compared to a fall of just two percentage points in the headline employment rate. The latest data indicates that whilst the employment rate for young people is

increasing, it remains 10 percentage points below its pre-pandemic level. However, the latest concern among business, consumers and policy makers alike has shifted to increasing price levels. Prior to the recent surge, the rate of inflation has been increasing since the beginning of 2021. Global supply bottlenecks during lockdowns alongside a surge in demand drove up prices. Despite the ‘re-opening’ of many countries price pressures have not deflated. China has continued lockdowns as they pursue a zero Covid strategy and the war in Ukraine has now confined global grain supplies (particularly influencing food prices) and restricted the supply of oil from Russia (impacting energy costs). Constraints in global supply chains over the last 24 months have tested globalisation, a concept so engrained in the production of goods and delivery of services that consumers no longer think twice about how their smartphone contains component parts manufactured in tens of countries across the world, before arriving on their doorstep. The Bank of England’s Monetary Policy Committee will seek to curtail rising inflation by increasing interest rates. However, by encouraging higher rates of saving it inversely means lower rates of spending. Any fall in the demand for goods in an economy raises red flags, particularly for countries reliant upon consumer spending (rather than exports or investment) as a driver of economic growth.

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The nature of unavoidable price hikes has seen UK real disposable income fall in the last four consecutive quarters, a trend not seen since records began. Consumer confidence in NI dropped to its lowest level since the beginning of the pandemic and trade unions are now increasingly calling for pay boosts for employees. If the Bank of England successfully curtails inflation through reducing demand, then it is likely economic output will fall (providing the other drivers of economic output don’t change). However, the position of the labour market may act as a cushion to avoid such a blow. The unemployment rate is very low, and business have been reporting high levels of unfilled vacancies. It is this current tightness of the labour market that leaves the local economy in a better place to weather the storm ahead, relative to high bouts of inflation in the past. ■ Marguerite Shannon is a senior economist, Ulster University Economic Policy Centre

Marguerite Shannon

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ENERGY

firmus energy: new chief addresses challenges over past year

“During 2021 we have witnessed a steady and relentless increase in gas commodity prices across global wholesale markets,” he said in his first article since taking over at the helm.

These factors have created a challenging business environment for firmus energy, however the company’s performance has been resilient and not prevented it from forging ahead with its plans to make connections to its network nor halted its strategic ambitions to transition to net zero carbon, according to new chief executive, Niall Martindale.

“As global economies began to emerge from the pandemic, a range of factors supported rising prices, such as strong Asian LNG (liquefied natural gas) demand, low European gas storage, low European wind, and even hydropower issues in Brazil. From October 2021, these issues were exacerbated by Russia’s behaviour towards Ukraine, which were then compounded with their invasion in February, and led to some of the sharpest increases in wholesale gas prices we’ve seen.

Niall, firmus energy’s director of regulation and pricing since 2015, took the reins of firmus energy in January this year.

“With great reluctance we have had to pass these commodity increases onto our customers through a number of tariff increases. Over

he energy sector has rarely been out of the media spotlight over the past 12 months with ongoing increases in the global wholesale cost of natural gas caused by the war in Ukraine and world economies resettling after the Covid pandemic.

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this same period of time, we have seen the collapse of almost 30 supply firms in GB and I take great pride in our ability to have navigated such commercially challenging times and most importantly keep our customers connected to natural gas. “I am particularly aware of the challenges and impact of the current cost of living crisis on the customers and communities we serve, which is why we have worked so closely with the Consumer Council of Northern Ireland and Department for Communities to financially and administratively support the delivery of much needed assistance to customers throughout our network area. The company has continued to engage with political and community group representatives to explore ways in which we can help customers and communities feeling the impacts of the cost of living crisis.

ENERGY

Northern Ireland transitions towards a net zero carbon future. Every home converting from home heating oil to natural gas has already reduced its carbon emissions by up to 52%. Carbon emissions will fall exponentially with the introduction of renewable gases being injected, locally, into our network. “The potential for renewable gas to be injected locally into our network is huge. firmus energy is committed to a sustainable future and supporting a local circular economy. Our sustainability team is pioneering several renewable energy initiatives which will progress the introduction of ‘green’ gases into our network, including projects to blend green hydrogen into the gas network and upgrade anaerobic digestion plants so that biogases generated can be converted into biomethane, making our agri-food, power, heat, and transport sectors more sustainable. “The availability of biomethane produced from anaerobic digestion in Northern Ireland is set to replace the natural gas in our network and without any downstream changes required to our customer’s heating systems’ or appliances. We are also part of a working group along with Action Renewables and other gas network operators.

Chief executive Niall Martindale

“Our company is engaged with the Utility Regulator on price control reviews for both our distribution business (GD23) and supply business (SPC23). These are important projects, during which the Utility Regulator assesses our business plans for the next six and four years respectively and determines allowances within which we must operate in pursuit of our ambitions. The Utility Regulator will publish its Final Determinations for GD23 and SPC23 in September 2022. “In December 2021, the Department for the Economy published Northern Ireland’s new energy strategy. Having worked closely with industry peers and government representatives during the development of this new energy strategy, we are greatly encouraged and excited to see recognition for the important and continued role of our gas network as

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“Furthermore, our modern polyethylene network can already facilitate a blending of up to 20% hydrogen, again, without any downstream changes required to heating systems or appliances. “We are pleased to be working with Mid and East Antrim Borough Council on the potential for developing a hydrogen gas network in Ballymena to support the growing hydrogen economy, centred around local businesses like Translink, NI Water and Wrightbus. “Thanks to funding from the Belfast Region City Deal this will include an i4C Innovation and Cleantech Centre to progress the local skills and knowledge base with respect to hydrogen, further supporting growth of the ‘green economy’.

“transitioning to net zero carbon” reflects our corporate intent to support Northern Ireland’s transition to net zero and recognises the significant contribution to be made by the gas networks in achieving our shared ambitions. “Firmus energy’s business is underpinned by our values and we take great pride in the culture at firmus energy. While navigating our recent challenges we have continued to demonstrate our commitment to corporate responsibility and exceptional customer service. “In the past year firmus energy has been reaccredited CORE Silver status by Business in the Community and shortlisted for Business in the Community’s Responsible Business of the Year award 2022. We have also been undertaking specialised training for our customer facing teams, including dementia training, autism training and refreshing our JAM Card (Just A Minute Card) awareness training with the NOW Group. Later in 2022 we will be undertaking reaccreditation of our Gold status for Investors in People. “Despite the lingering challenges of Covid-19, 2021 saw our distribution business deliver the greatest length of mains pipeline ever laid and the highest number of customers connecting to our network in a single year. We are strongly positioned to continue to deliver the benefits of natural gas, and soon renewable gas, to our customers throughout Northern Ireland. “I am tremendously proud of how the team at firmus energy has stepped up to the significant challenges of the last number of years, demonstrating remarkable resilience and commitment to the continued growth and success of our business and a dedication to ensuring we deliver the highest levels of service to our customers. More than ever, our company values have been cornerstones of strength in how we conduct our business, with empathy, clarity, integrity and teamwork.” ■

“We are embarking upon particularly exciting times within the energy sector. I am anticipating and preparing for rapid changes in the very near term and firmus energy will be at the forefront of this charge. Our new strapline

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igh-ranking industry lists have always been a point of fascination for me. Not because they rightfully celebrate the best in the business, but more so that they often lay bare the gender imbalance at the top of the corporate world. Since Women in Business first started 20 years ago, we have witnessed a great deal of progress and change. Particularly within our own ranks, growing from a humble network of 40 members to a community of 60,000 thinkers and doers. We’ve been privileged enough to champion women. We have put female businesswomen at the forefront of the conversation, enabling more and more women to reach their full potential within their chosen fields. Yet on a big-picture scale, there is much still to be done. The level of female representation in chief executive roles, for example, leaves a lot to be desired. It wasn’t too long ago that The New York Times cast light on the starkness of the gender disparity within global business: in 2015, fewer FTSE companies were run by women than by men named John. And progress has been marginal ever since. It’s an oft-cited figure, but when the World Economic Forum last year estimated that it would take precisely 135.6 years before the gender gap is closed worldwide, it only filled me with frustration and despair. It is absolutely unthinkable that we will have to wait until the year 2156 before women and men are on equal footing when it comes to pay and leadership opportunities. What kind of world are we leaving behind for the next generation, if economic participation and political empowerment remain frustratingly lopsided? Favouring one gender at the expense of another. The time for rhetoric to become action has long since passed. If we are to achieve an inclusive economy, it requires everyone to work together – men and women – for the betterment of all. Gender diversity, in particular, will not be achieved if we do not have men on the team working with us to deliver.

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Roseann Kelly: Redress gender imbalance and we can make the Top 100 even better Every businessperson knows that a great challenge requires a great team. And having the right team on board is critical to success. The right team is diverse; the right team has gender balance. The theme of 2022’s Women Business Chair’s Lunch was ‘Even Better If’. Three words often inscribed on the homework of our children, yet put in the context of Northern Ireland’s business community and they become a call to action, positively encouraging improvement. A recognition of the progress made, and the work still to be done, on our road to achieving greater gender diversity and an even better economy and society. Which is to say that Northern Ireland can – and I hope will – be an even better place to live and

work, delivering gender diversity and inclusion for the private, public and third sectors. This isn’t about tokenism or forced inclusion; female talent is out there. Untapped and often unassuming. At Women in Business, we’ve seen ﬁrst-hand the degree to which willing women outnumber opportunities that are female speciﬁc on these shores. Our innovative Female Founders competition launched in collaboration with TechStart Ventures, which welcomed start-ups to pitch their novel business idea to win a share of £200,000 in business grants alongside expert mentoring, recorded 52 applications for a fund of six.

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Roseann Kelly

Similarly in our most recent cohort the Press Refresh women returners programme we received 295 applications for just 20 places. Our programmes have been oversubscribed from the very beginning, with over 10 applicants for every space available. It would be even better if we can cater to all these women. Only by putting practices in place that help unlock doors where once there were barriers can we look to Northern Ireland as a true paragon of gender inclusion and opportunity.

overstated. Someone who is visible and vocal, supporting their female colleagues on their career journey and calling out any gender imbalance or discrimination they may face.

scale, 5% is not nearly enough representation considering the breadth of female talent and expertise that exists currently in Northern Ireland.

The challenges are apparent. Their solutions, less so. Challenges which become all the more apparent when the number of senior female leaders represented on Northern Ireland’s Top 100 list still languishes in the single figures. Even in 2022.

We have many challenges ahead of us, on both a local and global scale. Challenges which call for the very best teams working to deliver the change needed. And the importance of male allies in the business space cannot be

Congratulations must go to the five women named on this year’s Ulster Business Top 100 Northern Ireland Companies. They are true luminaries in their respective fields and an inspiration to us all. But on a big-picture

What we need is tangible change. A pipeline for the next generation of women business leaders. Yes, there are early signs are that the gender imbalance is correcting course, but the pace of change is glacial. It’s high time we accelerate the shoots of progress, so the women of tomorrow can build on the foundations already laid and push for greater parity in our offices and in our boardrooms. ■

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Roseann Kelly is chief executive of Women in Business

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77 Bloc Blinds W

hile the parent group Fourds Ltd, on this year’s list, may be far from a household name for many, the consumer arm certainly is. The Fourds Ltd group company includes a series of businesses, including Bloc Blinds. It’s a company which has seen its turning soaring to turnover of £101.9m and pre-tax profits of £27.4m for the year ending April 2021.

started seeing online orders flowing. “We had a massive uplift in production there. We went forward in automation as we were concerned, in light of Brexit, over labour and the cost of labour. “[With PPE] we took a look and were able to repurpose machines, working with clear screens of the visors for face shields – that got us going.”

opportunities… there are two million people here, 60 million in the wider UK, for example. “[During Covid-19] we benefited from two things: a surge in orders and the difficulties some of the traditional competitors had in getting products from the Far East. Our products are among only a handful made locally. We could increase the demand here and at our factory in Europe.”

The business, which has its main local base in Magherafelt, is run by Cormac Diamond, and it’s a company which has expanded and diversified considerably since the pandemic began.

That saw the firm pair up with packaging giant Huhtamaki to produce face shields at scale. “We went into a full system producing one million a day,” Cormac says.

Last year the group invested in FAST Technologies in Derry. The firm provides bespoke technical solutions to its global client base which includes DuPont, Unilever, Caterpillar and Seagate.

That saw it as one of the companies here stepping in to produce key PPE gear for our frontline workers. It also saw demand soaring for its blinds business during lockdown.

A big focus of the overall group is now working on developing and licensing technology and robotic automation processes for blind production.

Cormac says the NI Protocol has given the firm’s customers, especially those in Europe, the confidence to continue to do business, with access to the single market retained.

But it’s also expanded the business in other avenues, including logistics and technology development, through FAST Technologies, based in Derry.

“We always had the idea of licensing the technology internationally,” Cormac says. “We have been active with that and we patent everything we design – we have our own design team.” We realised we weren’t going to make every blind in Northern Ireland.”

“There are more pros than cons,” Cormac says.

Speaking to Ulster Business, Cormac says while its blinds production business remains an important part of the group, it’s now expanding into the US and beyond with its robotic manufacturing technology. “During the pandemic we were busy with PPE production, and that kept us busy for the duration. We shut ourselves down for eight weeks at the start of the pandemic, but we

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The firm has developed a robotic system for manufacturing window blinds. Cormac says it plans to install six of those factories across the US in the next 36 months. “We will see our own production of around 10% retained,” he says. “It will still grow but will be relative to the rest of the

“One of the things from our business, as we trade in Europe… it worked well for us to give customers the confidence that we are still part of EU, trading quite freely. We have had no real problem. “There have been a few things with importing, but it’s paperwork. There are adaptions.” ■

Cormac Diamond

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Conor Boyle

CO-FOUNDER, PLATE UP How much free time do you have outside of work? Due to a flexible, remote-working culture at Plate Up, my free time has become more fluid. When I was a corporate lawyer I would know my start time, but it was anyone’s guess what time I would finish. I wouldn’t schedule events during the week as the likelihood that they would be cancelled was very high. Now as a business founder with two kids, I prioritise nursery drop off and pick up with scheduled exercise. If there is an opportunity to play sport, attend a family event or even a child’s birthday party, typically I can be flexible and accommodate it into my work schedule. Is it difficult separating your work and home life? I see Plate Up as my third child so it is sometimes hard to separate the two – I certainly can spend too much time on my phone working during my ‘home life’. However, in my opinion, the benefits of working predominately from home vastly outweigh the challenges. To facilitate the separation, my workstation is away from the hustle and bustle of the house, 5-7pm is blocked out in my diary every day for nursery pick up, bath and bed time, and assuming diaries align, my regular tennis partner and I will schedule time for a hit as if it is a meeting. What do you do in your spare time? I love to play sport avoiding the gym at all costs. My phone is firmly hidden away and I experience complete escapism. I’m fortunate that I grew up with a father who taught me

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how to play tennis – a game for life. I played for Ulster at junior level until I was struck down with chronic fatigue syndrome between the ages of 16-20. Many of the folk I played with don’t pick up a racket any more as the dedication it took to succeed took its toll. I’m the opposite though, every time I pick up a racket, I’m invigorated like I’m 16 again – except a lot slower.

light of day, yet… an Ooni pizza oven and a barista coffee machine. I would like to master latte art and learn how to make the perfect pizza dough – Roger Burnley, our chairman, is the self-professed dough expert.

Golf is my other passion. I run a society call the Pinstripes Golf Society. The Pinstripes play three times a year at 36-hole venues across the UK and Ireland. We are looking to arrange an event at Royal Portrush or Royal County Down very soon.

It’s holiday time – where are you travelling to? My wife and I discussed hiring a cottage in France for three months while on parental leave back in 2020, then Covid hit. We welcomed our second child recently and would love to spend some time enjoying the French culture towards the end of this year. We particularly love the Dordogne region, having tied the knot there in 2016.

Is there something you’d like to start doing or take up? During lockdown, I treated myself to two toys that were put in the attic and haven’t seen the

On a selfish note, it’s a dream of mine to attend The Masters. I was fortunate to have a ticket for 2020, but with travel restrictions I didn’t make it to Augusta. One day.

ENERGY

A changing climate for business Signed into law in June, the new Climate Change Act (Northern Ireland) 2022 sets out a series of ambitious targets which Mark Stockdale – partner at corporate law firm A&L Goodbody (ALG) and head of the firm’s energy team in Belfast – believes will bring about both challenges and opportunities for businesses

“A

longside its overall target of reaching net zero carbon by 2050, the Northern Ireland Assembly has specified a series of separate targets along the way,” Mark Stockdale says.

prompting low-carbon farming and increased productivity, for example.”

“To meet these targets, the new Act places an obligation on departments within the Assembly to develop ‘sectoral plans’ for some of the more difficult-to-decarbonise sectors – including agri-food, energy and construction.”

“The ‘Government Food Strategy’ policy focuses on sustainable food production and, whilst it has been subject to mixed views, it may be a useful starting point for departments such as DAERA in considering how to encourage agribusinesses to meet the new emissions targets.

Agri-food “The agri-food sector will be acutely aware of the target set by the Assembly to reduce methane omissions to 46%,” Mark says. “Despite being much lower than the methane limits for the rest of the UK, this was justified by the Climate Change Committee on the grounds that Northern Ireland’s agricultural industry is a net exporter of food, with some estimating that it feeds up to ten million people in the UK. “While this means that businesses in Great Britain will need to achieve more than net zero methane emissions to meet the shortfall, it will still require significant changes within Northern Ireland’s agri-food sector –

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Mark suggests that a recently published UK Government policy paper could provide a useful starting point for the sector.

“Innovation, diversification and agility will undoubtedly be key – particularly with increasing public awareness of climate change anticipated to bring about a potential reduction in meat and dairy consumption in favour of plant-based diets. But with these challenges also come opportunities for the industry to create new products and expansion into new markets.” Energy Stephen Abram, senior associate at ALG, also predicted opportunities for renewable energy developers in the coming years. “The most visible change in the fight against

climate change over the last decade has been the notable increase in wind farms and solar farms appearing on mountains and hillsides across the country,” he says. “However, with the Assembly setting a new target for 80% of electricity to come from renewables by 2030, this will require up to 1,400MW of additional renewables to be built over the next seven-and-a-half years. Based on the size of existing wind farms and solar farms, this could mean up to 50 new projects being built.” He says that this will bring significant challenges for the industry. “Since the Northern Ireland electricity grid was not designed to connect such a volume of generators, large scale investment will be needed. NIE Networks and SONI are well aware of the issues and have been working to develop a plan for the grid. “Unfortunately, the Act does not include a new form of subsidy for renewable energy, but the Department for the Economy has promised to introduce a support scheme similar to the contracts for difference scheme in England and Wales. Recent reports to industry have suggested an ambitious timeline to deliver this by 2023.

ENERGY

A&L Goodbody’s Energy team in Belfast: Stephen Abram, Niamh Collins, Mark Thompson, Micaela Diver, Mark Stockdale and John Tougher

“This could mean real opportunities for renewable energy developers.” Construction “The construction sector will also see some of the biggest changes coming out of the new climate change targets,” Mark Stockdale says. “Developers will already be all too familiar with rigorous ESG (environmental, social and governance) requirements set by funders and tenants, and these will only increase further in the coming years. “Businesses tendering to the public sector, for example, will see procurement policy that currently allows for 10% of marks to be awarded for social value increase to 20% next year, with social value likely to include commitments to net zero. “The Government Property Agency has recently published its design guide for how new government buildings should be built to satisfy net zero requirements, and similar

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Innovation, diversification and agility will undoubtedly be key – particularly with increasing public awareness of climate change anticipated to bring about a potential reduction in meat and dairy consumption in favour of plant-based diets standards have also been developed by the Royal British Institute of Architects. “But as well as bringing challenges for the construction industry, this brings opportunities

for businesses that can adapt quickly as they can better compete for new contracts and develop products which will sell for a premium.” First mover advantage Mark suggests that businesses embracing climate change policy early would have ‘first mover advantage’ over slower moving competitors. “There is no doubt that climate change is one of the defining issues of this generation,” he says. “The opportunities for businesses are clear, but such significant change for some sectors in a very short space of time will certainly come with its own challenges. “Now that Northern Ireland has a legal obligation to meet these objectives, it is likely that there will be increasing public money invested to help achieve them. This means that businesses which are quicker to embrace the transition to net zero will be at an advantage to their competitors.” ■

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Colin Neill: Bounce back on pause as hospitality faces uphill battle

o far, 2022 has not been the bounce back hospitality hoped it would be.

Soaring cost of materials, surging energy bills and the ever-present cost of living crisis is providing significant challenges to the hospitality sector with many businesses questioning their viability.

Thankfully the sector largely survived the pandemic and rolling lockdown cycles, and we acknowledge this is down to the support of government departments who stepped up to deliver for hospitality. However, the current trading environment is proving harder to remain viable than enduring the pandemic and this support is needed again urgently. The cost of doing business has soared exponentially with immediate action needed to reduce excessive business rates and VAT, plus a business energy rebate system to counteract the paralyzing energy costs. These actions must be backed by a dedicated hospitality strategy by the government, which in partnership with the sector will find workable solutions to real and present challenges. Recently, and catastrophically, some hospitality businesses have had to shut up shop for a day, week or even permanently due to rising cost of supplies, energy bills and the lack of available staff. We fear that this pattern of closures is to continue if there is no government intervention and assistance. This has been the year of rising labour shortages with every sector struggling to recruit and retain staff. However, this issue has been acutely felt within hospitality as without staff, we simply cannot do business. The power of the hospitality sector lies in its people. You often don’t think twice about the

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skill, talent and proficiency that goes into the perfectly poured pint, the first-class dinner, or the greeting and conversation when checking in. These are the moments when the customer or tourist experience is so good it means grater spend, longer stays, more custom. It is also why we are famed for our hospitality offer. However, the people who make our industry so brilliant are reducing and it is time for us to put our focus and energy on the next generation of the workforce who can help us innovate and push forward the industry further. We are live to the needs of the industry and have already taken steps to promote and encourage hospitality as an exciting, viable career. Working with colleagues across the sector, we developed the Hospitality Employers Charter earlier this year which aims to support best practice in training and development, building career pathways and long-term employment opportunities. The charter, which many of the leading hospitality businesses across Northern Ireland have signed, shows the industry’s commitment to focus on the people who make hospitality the thriving industry it was pre-pandemic. Already signed by many of the leading hospitality businesses across Northern Ireland have signed, the charter shows the industry’s commitment to focus on the people who make hospitality the thriving industry it was pre-pandemic. However, with a national labour shortage, government must also revisit access to staff from outside the UK. In June we also launched the UK-wide Hospitality Workforce Strategy alongside our colleagues, UK Hospitality. At the core of the

strategy is an ambition to upskill our workforce and create high-quality, high-skilled roles, for people of all ages and abilities. The workforce strategy explores all aspects of the sector’s labour needs, including recruitment, skills and training, hospitality’s image as a sector in which to work and the infrastructure to support our employees. By delivering on this action plan hospitality will be able to deliver the high-quality jobs that we know it can. It will support a broader increase in skills levels across the country and provide people with opportunities to improve their career options. The strategy, which looks to build the workforce of the future, will also create economic growth and help to regenerate communities in all parts of the country, and also support our industry in supporting those cities, towns and villages whose social mobility relies on the local hospitality offer. The hospitality industry is still Northern Ireland’s fourth largest private sector employer. The industry still has a viable future, however, many of the challenges are outside the control of the industry and need government intervention. We must remember that the hospitality industry once contributed £2bn annually to the Northern Ireland economy and the backbone of our tourism offer. If we are to get back to those peaks, the government must step in and address the cost burdens which are putting business on hold. There is still life in the hospitality sector. It just needs supported to reach its former heights once again. Our hope is that we will see this soon. ■ Colin Neill is chief executive of Hospitality Ulster

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Colin Neill

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TRAVEL

The Titanic Hotel in Belfast

Review:

A true link to Belfast’s rich maritime heritage It’s already won a host of awards and is trying to cement its place on the international tourism trail thanks to its history and link to the past. John Mulgrew puts on his visitor cap for the evening and pays a visit to Titanic Hotel Belfast

f you’ve lived, worked and spent a considerable time in and around the harbour and Titanic Quarter, you can somewhat get numb to the impressive historical, and modern pieces of architecture which call it home. And aside from the cranes, the dock infrastructure and sharp and angular glinting tourism leviathan, Titanic Hotel Belfast can safely and confidently carry the torch in terms

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of the hotel destination with the greatest attachment and link to the ill-fated liner. The hotel’s two grand drawing offices, one now a large bar and another a function room, once played host to those who first drew plans for the ship, and others. Built in the late 1880s, it wasn’t until five years ago that the building fully reopened its doors as the city’s newest major hotel.

The accolades speak for themselves in terms of the recognition the spot has landed in the last few years. It was named ‘Northern Ireland’s Leading Hotel’ at the World Travel Awards 2021. It’s far from the first time I’ve been here. On this somewhat seasonally inclement evening, weather wise, it was home for the evening and a welcome sanctuary as the wind and rain battered down outside.

TRAVEL

Wolff Grill at the Titanic Hotel

While the 120-bedroom hotel is just a short Glider journey, or a 15-20 minute walk to the city centre, you forget about the proximity to what is Northern Ireland’s second biggest pull in terms of tourists and visitors.

In the more central room to the left of reception sits Drawing Office Two – home to a grand bar and a three-storey high barrelvaulted ceiling. By day it’s fresh, clean and bright and at night remains fairly lit but with a touch more ambience.

Our room for the evening sits a few floors up and is a spacious affair – a king-sized bed, small table and seating area, a decent-sized bathroom and at a corner of the structure, you have a wider view of Titanic Belfast lit up after the sun goes down.

While there’s afternoon tea and also casual dining in the aforementioned grand bar, there’s also a more formal restaurant heading towards fine dining.

One of the advantages the hotel has is the ability to scoop up all that light coming in to the two former drawing offices.

The Wolff Grill has offers up French-European menu with a fairly wide swathe of takes on classics, from beef fillet to hake, duck with red cabbage and blackberries, duck pate and cured salmon.

And that light of course isn’t down to some sort of recent clever, modern architectural planning. The idea was to capture as much natural northern light as possible for those working in the former drawing office. The two rooms were even built far enough apart to avoid one casting a shadow on the other when the sun was low. There’s lots of nods to the Titanic, as you’d expect – some more obvious than others. You’re unlikely to forget about the hotel’s lineage during your stay.

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The room itself, while perhaps forgoing as rich a heritage and grand expanse as the two drawing offices, is warm and welcoming – it’s fairly busy on this occasion and there’s certainly some atmosphere floating around. A starter of vitello tonnato (chilled sliced veal) is served with caperberries, lemon and pickle. It’s a clean dish with some minerality, cut with the zest and acid. Beef fillet is served medium to medium-rare.

Prices start from £109 including a breakfast and car parking for 24 hours. The full range of offers are available online at www.titanichotelbelfast.com/ belfast-hotel-deals

It’s a solid piece of red meat cooking, served with an accompanying beef cheek croquette, however the accompanying sauce is overreduced and has an almost Marmite character to it as a result. Breakfast is served up in the same room and during our visit was a buffet option, offering up the usual plethora of items most at home in an Ulster fry. Titanic Hotel Belfast has certainly cut out a place for itself on the tourism and hospitality map here. If you’re visiting from overseas and plan to take in Titanic Belfast and the docks area, this sits in the epicentre of one of the city’s most interesting and engaging historical areas. It’s also a place to unwind and spend a couple of hours relaxing with something short and strong, chilled, in a glass. ■

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Michael Bell: Top 100 showcases importance of food and drink sector

t is hard to overstate the importance of food and drink to Northern Ireland’s economy, and it is not surprising to see so many food and drink manufacturers once again among Northern Ireland’s strongest performing businesses in the Ulster Business Top 100 Northern Ireland Companies.

Our industry continues to grow, feeding some 10 million people across these islands and beyond every year. The wider ‘eating ecosystem’ of sectors linked to food and drink – farming, packaging, retail and throughout the supply chain – is a key driver for growth in Northern Ireland. We recently commissioned a report, produced by EY, which quantified the contribution of the eating ecosystem to the local economy. It revealed that food and drink generates £4.9bn in value added, supporting some 113,000 workforce jobs in communities across the geographic spread of Northern Ireland. The report also noted the resilience of Northern Ireland food and drink firms, which was clearly demonstrated in the industry’s response to the pandemic. Covid-19 presented us with a once in a lifetime challenge in March 2020, with firms having to rapidly respond to changes in demand, while transforming processes in factories to ensure staff were kept safe. Thanks to the dedication of key workers across the food supply chain, a tsunami of turbulence was overcome. Firms have also had to show resilience and adaptability in responding to the challenge of Brexit, and 2021 saw the end of the transition period and ongoing negotiations

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around the implementation of the Northern Ireland Protocol. On Brexit, and subsequently the protocol, the industry had a consistent, united message. Our supply chains are highly integrated on and between these islands, so maintaining frictionless trade both northsouth and east-west is vital. We need both the EU and UK markets and simply cannot be forced to choose between the two. For the past six years we have been working alongside representatives of the wider business community in Northern Ireland to encourage practical solutions to deliver frictionless trade. We have engaged with the government and the EU, urging a new trade arrangement that met four key tests of affordability, certainty, simplicity and stability. The Protocol has largely given local businesses the certainty they need and has solved many of the challenges posed by Brexit – ensuring continuity of trade in goods across the land border, and between Northern Ireland and Great Britain, while securing our ability to export freely to both the EU and the rest of the UK. With 77% of food and drink produced in Northern Ireland consumed outside the region, it is crucial we maintain that ability to export. If hypothetically Brexit caused 100 problems for Northern Ireland food and drink businesses, then the Protocol has solved 75 of those. For the remaining problems, which have been felt by a minority of our members, NIFDA has been working with the government to highlight areas where processes can be streamlined, and improvements made. We need to resolve these issues without jeopardising the gains we have made already.

This can only be done through negotiation, and we need both sides to get together and agree a durable, long-term solution that works for all. Inflation has been one of the major challenges of 2022 so far and is likely to continue for the rest of the year. Indeed, food inflation is already higher than it has been at any point over the past decade, affecting consumers and businesses everywhere. The ongoing war in Ukraine has caused a serious ripple effect on the global food system, driving up prices for feed, fuel and fertiliser. Firms locally are doing their best to absorb these increased energy, raw material, and ingredient costs, but inevitably some price increases are being passed on. While external

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Michael Bell

events driving this inflation may be outside of our control, government should review regulation across the board and act where that is augmenting price rises in shops. For a start, the Treasury should reverse its decision to further restrict the use of red diesel from April of this year.

Sustainability is something the industry is taking seriously, and great work is being done on both farm and factory floor to ensure we are feeding the nation in the most sustainable way, lowering our carbon footprint and being part of the solution on climate change.

Trade and demand remained strong across the sector over the past year, with the foodservice market seeing a welcome boost as society emerged from lockdown. Firms are continuing to innovate to stay on top of consumer trends, customer demands and the regulatory landscape.

Maintaining that innovative, driving the green growth agenda, and exploring the possibilities of advanced manufacturing requires investment, but unfortunately the industry here is at a disadvantage to our regional competitors.

Going forward the biggest challenge we face as an industry and society is addressing the climate crisis and reaching net zero emissions.

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We are the only region on these islands without a processor capital grant, and we need to level the playing field. A capital support scheme would further drive

innovation, boost productivity and win value adding new business. Now is the time to address this competitive disadvantage. The food and drink companies NIFDA represents showcase the very best of Northern Ireland industry – a community of people sharing three key characteristics: passion, professionalism and pride. The big company names, and impressive statistics, might sometimes hide the fact that we are people, we feed people and we are all about people. Those attributes have been key to the success Northern Ireland food and drink, and at NIFDA we will continue to champion this great sector as we look to the opportunities ahead. ■ Michael Bell is executive director of the Northern Ireland Food and Drink Association (NIFDA)

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PROFILE

The ethical water brand doing its bit to help others Ross Lazaroo-Hood, owner and co-chairman of the Soilèir Group, says his newly acquired company Clearer Water, is a fresh product focusing on key social impact to its local community of Larne and is an ethical brand which has its sights firmly set on helping the wider community

uring the spring of this year my long-time business partner, Sitki Gelmen and I acquired Clearer Water, an ethical, premium bottled water brand based on the picturesque shores of Larne Lough.

period, we are committed to expanding our presence within the impressive eateries, wine bars, and tourist destinations across the island of Ireland as well as elsewhere in the UK, and possibly further afield. We have already experienced an increased demand for Clearer Water during the first quarter of this year, with the bottled water industry forecasted to increase by 13% in the UK over the next decade, we have committed to expansion plans for our plant, our product range, the employment opportunities available, as well as the positive change established through our social and community initiatives.

It has been an exciting time and indeed a whirl wind, we knew with the right investment and commitment – Clearer Water could be something unique and special. Within a few short months we have completed a rebrand of Clearer Waters logos, social media and website. We have created a more transparent, accessible brand with a ‘clearer’ message that Clearer Water will be the exemplar moving forward of how business can be, and do, better. Clearer Water is a social impact company, our interests go beyond making profits, we are committed to positively impacting our community, as I am born and bred myself in Northern Ireland, as well as wider society. We employ a diverse, mixed ability workforce and through inclusive employment practices we will drive transformative social impact by closing the gap on disability inclusion in the workplace. Clearer Water is bottled on site; drawn from a deep aquifer and naturally filtered through cretaceous limestone; formed 400 million years ago at the hamlet of Maghermorne, as part of the famous Antrim Plateau. As a result of being protected from several glacial events by layers of blackened basalt, the

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Ross Lazaroo-Hood

limestone exposed today is only found in Northern Ireland, exclusively on the eastern shores of Antrim, providing Clearer Water its entirely unique, mineral rich composition and refreshing taste that is proven to keep you hydrated for longer. Clearer Water is currently sold in some of Northern Ireland’s most prestigious restaurants, hotels and tourist destinations including Shu, OX, Wine & Brine, the Fitzwilliam Hotel and Lough Erne Resort, Titanic Belfast, Henderson Group and a number of upmarket delicatessens in London. As hospitality continues to grow and flourish after a difficult

If you’re going to dream, you might as well as dream big and Clearer Water’s long-term aspirations are global, this year the global bottled water market size has already grown to £256bn. Clearer Water’s sparkling range, quaintly branded ‘Clearer Water with Bubbles’ has experienced a stark trajectory of sales as a direct consequence of carbonated waters being recognised as a healthy alternative to high sugar drinks. Sparkling water adds a level of sophistication not always associated with still waters and is easily flavoured through natural fruits, something Clearer Water has promoted and encouraged through our social media channels. With consumers becoming more health conscious and aware of the benefits of quality hydration we project that the sparkling

PROFILE

We go further than most other bottled water brands to reduce the use of virgin, disposable plastic: 80% of Clearer Water is produced in glass customers readily appreciating that not all bottled water is the same and a naturally Irish sourced plus refreshing water can be the one of choice. Clearer Water’s production and administrative team is our greatest asset, they are our brand ambassadors and champions of Clearer Waters mixed ability workforce principles. Clearer Water’s successful team is comprised of young people who would have found it difficult to find and sustain similar jobs, if not for the employment opportunities at Clearer Water. The brand was created not as a business or employer solely for people with additional needs, but with social responsibility in mind. The business model facilitates representation, inclusion, diversity, and equality. It’s a model we hope all businesses will emulate in the notso-distant future.

water sector will continue to experience unprecedented growth. Clearer Water is dedicated to ethical and sustainable manufacturing. We go further than most other bottled water brands to reduce the use of virgin, disposable plastic: 80% of Clearer Water is produced in glass. We are committed to investigating ways to reduce our use of plastic even more and as of 2019 Clearer Water’s plastic bottles are 100% recyclable. Clearer Water’s unique mineralogy provides extensive essential minerals and as a

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consequence, hydration for the individual for longer. Clearer Water’s ‘perfect’ PH level of 7.8 affirms it as a natural alkaline water, a product that has seen other water bottling companies use water that has been increasingly manmade and manufactured with artificial add-ins and minerals for its health benefits. As one of the few natural, pure sources of the increasingly sought-after alkaline water (thanks to Gwyneth Paltrow’s promotion on her wellbeing and lifestyle platform Goop) we envision Clearer Water will take its place as a ‘smart water’, sourced, purchased and consumed for its health benefits, with

The island of Ireland has produced some of the most successful and well-respected bottled water brands, we hope in time to step out from their shadow and stand shoulder to shoulder with them. Clearer Water is much more than a quality, natural source of premium hydration, Clearer Water is a commitment to the production of local products with local businesses in our supply chain, the security of Northern Ireland based jobs for all abilities and the assurance that people will always come before our desire for profit. Clearer Water will always be committed to be ‘The Water That Helps People’. ■ You can find out more about Clearer Water’s mixed ability ethos of ‘The Water That Helps People’ and its premium, ethical and natural spring water at www.clearerwater.com

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INTERVIEW

CBI chief Tony Danker: ‘It’s a problem every time sausages cross the border we have to bring down the Executive’ 126

INTERVIEW

CBI director-general Tony Danker is clear that there must be a return to a working Executive as soon as possible, that most ﬁrms want the NI Protocol to work and that issues can be addressed. He tells John Mulgrew why a conversation around sausages can’t bring the political process to its knees, and why the UK Government must use its coffers to address the cost of living crisis and help those struggling to put food on the table

elfast-born CBI chief Tony Danker says businesses want the NI Protocol to work and we must see a return to a fully-operational devolved government as soon as possible. Mr Danker, during a visit to Northern Ireland earlier this summer, told Ulster Business that amid “political dysfunction and grandstanding” we should return to a working Assembly and Executive as soon as possible to address key issues here.

service both markets. “I think it’s ﬁne for the politicians to grandstand… but at the end of the day, if you want to if you want to build a prosperous Northern Ireland, which in turn, by the way, delivers a peaceful Northern Ireland, then you have to pay attention to what is the competitive advantage of Northern Irish business.” He says the Protocol is working for the vast majority of ﬁrms, but he says as an importer from GB, there remain issues which need to be improved.

And on the NI Protocol – the stalemate which the DUP says it will not return to devolved government without signiﬁcant amendments – Mr Danker says the “overwhelming majority of businesses” want it to work.

And he says the Executive should be reestablished as soon as possible.

On the Protocol issues between parties, he says “there is a landing zone” which is “eminently achievable”.

“I think it’s a problem that every time a packet of sausages crosses the border, we need to bring down the Executive,” he says,

“The overwhelming majority of businesses want the Protocol to work, they just do. Businesses didn’t design the Protocol, it was a political construct and they want to work,” he says.

On industry claims that GB ﬁrms are failing to adapt to the changing trading arrangements and failing to deal with Northern Ireland companies as a result, he says “it’s deﬁnitely true” but that he’s hearing fewer cases of that being an issue.

comes to issues being discussed by members. “If you’re asking from my business point of view, the sooner we have a high functioning Executive, the better… it’s just obviously true. “And there are there are loads of areas of policy that are really important to growth and competitiveness. “So, whether or not it’s major infrastructure projects that clearly need a functioning Executive to improve whether or not it is skills policy. “But my own view would be the landing zone on the Protocol is there I think it’s eminently achievable. “I think it’s a problem that every time a packet of sausages crosses the border, we need to bring down the Executive or we need we need Dublin, London and Brussels to have a war of words. “And one of our proposals around new discussions on the Protocol is how can we build in technical working groups with businesses around the table to design implementable solutions. “Because, the political dysfunction and grandstanding. You can sort of understand at the macro level, but what we can’t build is a Protocol outcome where that can happen every three months when they disagree about whether or not the ‘trusted trader’ schemes should be using a different software. I mean, come on.”

Mr Danker said he had spoken to around 30 ﬁrms since arriving in Northern Ireland for his latest visit.

Following meetings with political parties including Sinn Fein and the DUP, he said: “Now I’ve spoken to the DUP and Sinn Fein in the last 24 hours about their view on whether there’s a landing zone and I think they all think there’s a landing zone.”

“We live in a climate with political instability… number two, from a tax rate point of view we have widened the gap with the south in terms of what Rishi Sunak (ex-Chancellor) has done in terms of (increasing) corporation tax.

He says the main issues facing ﬁrms include inﬂation – which he says have been around 20% in the last couple of months – along with labour shortages.

And Mr Danker is clear the UK Government should act now in assisting those who are struggling to put food on the table amid this cost of living crisis.

“Those are two pretty considerable disadvantages. All of a sudden what we see in the Protocol is the potential to have a winning competitive advantage, which is the ability to

And while the phrase ‘recession’ had been bandied about in recent months by some amid soaring inﬂation and a cost of living crisis, Mr Danker says it hasn’t been at the fore when it

“They could be putting real money in the pockets of those who need it most,” he says. “And I am really happy to be completely agnostic about how they do that.” ■

He says Northern Ireland businesses want to ﬁnd a competitiveness, and that’s something the NI Protocol can offer.

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INTERVIEW Maeve Monaghan

‘It’s not about them and us but about what we can do together’ NOW Group’s Maeve Monaghan has an expansion in up her sleeve but the lack of an Executive isn’t helping matters, writes Margaret Canning

ew businesspeople in Northern Ireland can match the get-up-andgo of Maeve Monaghan, the chief executive of social enterprise The NOW Group.

people with disabilities and learning difficulties into employment, has grown to a turnover of nearly £5m. Around 1,800 people have benefited in the last year from its services like training courses.

disabilities on our books,” Maeve says. “This year we worked right across Northern Ireland and are now expanding services into the Republic, which is exciting and daunting all at the one time.”

Under her leadership, the group, which helps

“We have got about 1,800 participants with

Loaf, its cafe and catering arm, now has

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INTERVIEW

five cafes in Northern Ireland, including at its headquarters at Grosvenor Road in west Belfast and at the City Hall’s Bobbin Cafe. Another will open in Lisburn in September.

how funding which came from the European Social Fund (ESF), which will cease supporting projects in Northern Ireland as a result of Brexit, will be replaced.

That side of the business provides people with learning difficulties with training which can provide a pathway into a career in hospitality or catering. Loaf’s turnover is around £1.3m.

“Post-Brexit, there’s a big challenge around the European Social Fund and what’s going to happen next. I always thought that there was a room somewhere where decisions were being made, and I’d love to be in that room to hear what people are saying but at least somebody’s doing it. “Then you realise that there isn’t a room, that’s the scary thing. We are concerned about the lack of clarity about what happens when the ESF ends.”

And there’s an exciting new cross-border expansion, with a new cafe in Kilmainham in Dublin where it’s hoping to tap into the lucrative tourist trade in a location close to Kilmainham Gaol and the Irish Museum of Modern Art. NOW Group also has a sideline in pottery since acquiring a disused pottery in Crawfordsburn, where it added a cafe and a pizza oven to make it a viable business. And to help people with disabilities, it developed the JAM (Just A Minute) card which can be displayed by a person with disabilities or learning difficulties at a business or service provider, to make people aware that they may need a little more time. Maeve is eager to embrace working with business but using a model far beyond the usual marathon-running model of corporate social responsibility. “One of the things I’ve been keen to do is show the potential for social enterprises to do good business with good businesses. It’s not a them and us, it’s a ‘we’… a lot of my role has been creating business with excellent products and marketing them like anyone would and talking to business about what we can do together.” Maeve says diversifying into new areas such as the pottery – which she says sold very well online during lockdowns – also helps it avoid becoming too dependent on one funder. But she says morale is a problem at the minute due to the lack of an Executive and what she regards as a lack of clarity about the UK Government’s levelling-up agenda and how funds will be allocated. At the heart of the problem is doubt about

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Maeve says that about 65% of the funding for its employment programme came from ESF. She fears that the proposed replacement for European funding in UK regions, the Shared Prosperity Fund, won’t live up to its promise. The concerns have been developing in tandem with the organisation’s excitement over its Dublin project which came about after it responded to a tender process by the Dublin Food Co-operative. “It’s a big, big thing that they’ve taken someone from the north to do it with them and it’s a whole different ball game. We’re hoping to open on August 1.” She also hopes that it could become a “cool hang-out “in the evenings, particularly with outdoor concerts returning to IMMA. And it will also bring a new cohort of people with learning disabilities into training opportunities with the NOW Group. She says that the NI Protocol didn’t directly contribute to NOW Group winning the tender but that it does open up conversations about how it does business in the south. “The push to look more down south maybe came when Brexit happened and we started to look at where else our markets could be. “UK organisations work with us on the JAM Card but with doing business in the south, it’s

the one island and it’s potentially easier to do business logistically. “There’s a market there as the economy is doing so well and the potential to sell catering into business is a great opportunity for us. “Procurement processes are also focused on providing social value, while she says consumers are more conscious “about their money touching the sides”. Diversity is an important value to impart to the companies it works with, but she says it’s also important within the group itself. And she doesn’t think she deserves all the credit for how energetic and varied the enterprise has become. “People assume it’s me. Yes, I am driven and I am entrepreneurial but the real special thing is the diversity we have. We employ people with a range of different abilities and completely different brains, people from different backgrounds and that what’s creates the innovation.” At the moment, the organisation has around 110 direct staff, soon to increase to around 130. It’s a tight labour market at the minute, and I ask Maeve if her own skill set has attracted offers from the private sector. “Everybody’s head-hunted at the minute. I think LinkedIn is almost like a source of pain at the moment.” But she says her commitment to using profit for social good – the raison d’etre of social enterprises – runs deep. As a child, she’d encourage her friends to amass their mums’ shoes and handbags to sell them, or to sell drinks from their Soda Streams, or even hire out their roller-boots. “I was always interested in wheeler-dealing and making people money but I never actually kept it for myself. And I look back and say to mum, ‘why was that? That was a flaw that I wanted to give it to charity’. But that was reflecting the values of my parents, and I think I was always born to be a social entrepreneur.” ■

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Belfast city centre

COMMERCIAL PROPERTY

Property deals reach £146m… but uncertainty makes NI ‘less attractive’ to investors There’s some positive news in the commercial property world with the ofﬁce market rebounding and deals happening across the sectors, according to the latest report from CBRE. John Mulgrew takes a closer look at the good, the bad and the political uncertainty

ajor commercial property deals across Northern Ireland have totalled £146m for the ﬁrst half of the year, new research has shown.

But while the latest report from commercial property ﬁrm CBRE paints a more positive picture of the overall market, it says political uncertainty – including around the NI Protocol – makes Northern Ireland “less attractive” to investors. Meanwhile there are around 150,000 sq ft of ofﬁce lease deals in legals and those due to be signed in the coming months. “Geo-political uncertainty, including the Ukraine situation, is heightened in Northern Ireland when we see a continued uncertainty on the Protocol issue,” Brian Lavery, managing director of CBRE NI, said in the latest report. “There is no doubt political uncertainty makes Northern Ireland less attractive to any incoming

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investor or occupier. “Local government and authorities are now seeing available capital through the likes of Belfast Region City Deal with plans being released for regeneration.” Some of the notable sales over the last few months have included the sale of the former home of Argos, Ross’s Court, which went for £5.7m, and Marlborough House, to Martin Property Group. “Although there has been a lack of investment stock on the market, we are expecting a large number of sales to be launched over the third quarter,” Gavin Elliott, senior director capital markets, said. Meanwhile, other properties currently on the market also include 49-51 Donegall Place in Belfast city centre, for £13.3m, Imperial House, £6.9m and Laganbank Retail Park in Lisburn for £5.9m.

Looking towards office space take-up, something which had slowed considerably amid the pandemic and lockdown, some 77,600 sq ft was taken during the second quarter of 2022 – up around three-fold over the first quarter. Some of the most notable deals included BE Offices taking on Custom House for a serviced office building, while DailyPay is leasing 8,200 sq ft at McAuley House. The report also cities the large volume of grade A office space which is due to hit the market over the next few months. That includes The Ewart, City Quays 3, Paper Exchange and Olympic House. “The challenge for the market going forward will be what happens when these schemes achieve full occupancy,” David Wright, director office agency, said. Turning to the hotels market, according to CBRE around 15% of Belfast city centre’s hotel stock is being used by government contracts to accommodate refugees. The report says demand for industrial and logistics space remains strong, with a lack of accommodation tempering activity. ■

NEWS

Ryanair returning to Belfast with a dozen UK and European routes

udget airline Ryanair will return to Belfast next summer with a host of new regular routes as part of what it says is a £166m investment. The airline, which stopped flights from here last year amid lockdown and the pandemic, is reopening its base at Belfast International Airport with 12 routes. It will base two aircraft here. The routes include Alicante, Faro, BarcelonaGirona, Malaga, Manchester, Milan-Bergamo and Stansted, with around 115 flights each week. Ryanair’s new summer links will take off in summer 2023. The airline says 60 “highly paid aviation jobs” will be created at Belfast International Airport and “over 750 indirect jobs”. Jason McGuinness

It says it has also launched seat sale with fares available from £19.99 which must be booked by the end of July 2022 for travel from April – June 2023. “At a time when other airlines are cutting their schedules and reducing their workforce, we are delighted to announce a new Ryanair base at Belfast International Airport with 12 exciting routes and two based aircraft representing an investment of $200m (£166m) at Belfast International and the creation of over 800 direct/indirect jobs,” Jason McGuinness, Ryanair’s director of commercial, says.

Stansted and Manchester demonstrates that lower aviation taxes and competitive airport charges are the catalyst for long-term traffic growth and increased connectivity. “To enable additional investment from Ryanair (and other airlines) from next summer onward, the UK Government must immediately scrap aviation taxes for all flights, otherwise it will put the UK (an island-based economy) at risk of losing air traffic to competing European countries.

“We are delighted to have reached a longterm agreement with Belfast International’s management, which will underpin future Ryanair growth at the Airport over the coming years.

“After two difficult years for tourism, Ryanair’s return to Belfast International will allow holidaymakers to plan their Summer 2023 getaways to sunshine locations such as Alicante, Barcelona-Girona, Faro and Malaga early to ensure the lowest possible fares.

“The announcement, particularly our decision to launch close to 80 weekly domestic flights to/from East-Midlands, Edinburgh, London-

“Ryanair also looks forward to further connecting Belfast International to key cities such as Edinburgh, London-Stansted,

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Manchester, Milan-Bergamo and ParisBeauvais.” Belfast International Airport’s chief financial officer, Dan Owens, said: “The airport plays a pivotal role and is a key asset in aviation and tourism recovery after a challenging couple of years. This is a significant investment, bringing job creation and positive news for our passengers and the region. It increases the number of destinations now available from the airport to over 70 domestic and international destinations, offering more choice than ever for travellers. “The new base at Belfast International reflects VINCI Airports’ commitment to Northern Ireland. Improving connectivity for the region is key for the aviation sector and economic growth. VINCI Airports and Ryanair have a strong partnership and Belfast now brings the total of bases across our European network to six.” ■

NEWS IN BRIEF

BT adding 100 new Belfast jobs

T is creating up to 100 new jobs at its main base in Belfast.

The company says it’s adding the roles at its Riverside Tower offices and that the jobs will bolster its in-house digital workforce. The majority will be brought on board by April 2024. BT is due to complete the refurbishment of its Riverside Tower offices later this year.

The new roles will include management, software engineering, cloud, design, artificial intelligence, machine learning and agile delivery. “Digital was founded to accelerate BT’s transformation, innovation and return to growth,” Harmeen Mehta, chief digital and innovation officer at BT, said. “To succeed, we need to bring in and upskill

Morya Morgan, Kasper Nielsen, Michelle Hatfield, John Sheridan and Ken Boyd

the top digital talent, and our efforts will boost the tech communities along the way.” The new Belfast roles form part of a 1,000-strong recruitment drive across the UK focussed on BT’s key regional hubs in Belfast, Birmingham, Manchester, Bristol, Ipswich and London.

Dale Farm scoops awards for its cheese

Dale Farm specialist cheese graders Rhonda Grant and Brendan Dunlop

ale Farm has scooped 11 awards at the 2022 International Cheese and Dairy Awards.

Two new routes from Belfast City Airport

wo new routes from Belfast City Airport have been revealed.

UK regional services operated “is fantastic for both business and leisure passengers”.

Aer Lingus said the flights to Southampton and Cardiff would be operated by Emerald Airlines and the Cardiff route is the only air link to Wales from Northern Ireland.

“Passengers have been asking for further connections to Cardiff and Southampton and we are thrilled that we have been able to deliver in time for the busy summer period,” Michelle Hatfield, Belfast City Airport, said.

It’s another boon for Northern Ireland’s aviation sector after Ryanair announced it was returning to the country and offering 12 new routes from Belfast International Airport from summer 2023. Belfast City Airport said the addition of more

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Ciaran Smith, head of commercial at Emerald Airlines said: “We are delighted to commence our Cardiff and Southampton services from Belfast, providing those travelling from Belfast with more choice when planning their holidays.”

Up against more than 5,000 entrants at the annual awards, its Dromona brand took home two gold and three bronze awards, as well as the International Cheese and Dairy Awards Trophy for Best Mature Cheddar. “Year-on-year, our Dromona cheese is recognised by the industry as world-class. These latest wins are once again evidence of the high quality of the milk our farmers produce and the expert craftmanship of our cheese makers. We are extremely proud of this result and our long-established Dromona cheese,” Sharon Campbell, head of marketing, Dale Farm said. Dale Farm produces 60,000 tonnes of cheddar a year from its plant in Cookstown, Co Tyrone, using milk supplied by its dairy farmer owners.

Paul Martin, Alan Hanley and Courtney McCaughran

NEWS IN BRIEF

from ‘bio-circular materials’ recovered from the food industry. Marlon BioPlus offers a major carbon footprint reduction by cutting the use of fossil-based material by 70%. The raw material in the sheet is also produced with renewable energy, leading to an overall 84% decrease in carbon emissions.

New plastic product developed with cooking oil

Northern Ireland manufacturer has developed a greener plastic product which utilises cooking oil. Brett Martin is launching a new plastic roofing product made

“The drive for sustainable, carbon neutral plastic materials is progressing well, and our launch of Marlon BioPlus is the latest milestone in our journey to that end,” Paul Martin, director, Brett Martin, said. “Our extensive investment in renewable energy at our Mallusk site is unique in our industry and an important part of our plan. We extrude the sheet using energy generated from our own wind turbine and dedicated solar farm at Mallusk.”

Twenty co-investment deals secured in second quarter

o-Fund NI says more than 20 coinvestment deals were completed in the second quarter of the year.

Stuart Gaffikin

Demand for funding from early-stage businesses in Northern Ireland remains, according to the managers of the CoFund NI co-investment fund. The £47.3m Co-Fund NI, managed by Clarendon Fund Managers, is an equity fund which provides growth capital to high-growth potential SMEs alongside lead private investors. To date it has invested in 95 local firms. Clarendon said among the completion of over 20 investments that closed before the end of June are a high number of followon investments and nine transactions with companies who are securing investment from Co-Fund NI for the first time. “Even as we are seeing a number of reports suggesting there has been a slowdown in investment across the UK and Ireland, CoFund NI has seen very strong demand from high-quality, fast-growing companies,” Stuart Gaffikin, investment manager at Clarendon Fund Managers, said.

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Danske Futures initial intake graduate

he first intake of Danske Bank’s Danske Futures apprenticeship programme have graduated.

The bank has now begun the search for new recruits to its degree-led apprenticeship programme for 2022. First launched in 2018, Danske Futures is a fully funded, three-year higher-level apprenticeship programme for students who have completed their A-levels. Run in partnership with Ulster University, the programme offers school leavers the

opportunity to take up a permanent role with Danske Bank in locations across NI, while studying for a degree. Danske Bank says it intends to hire 20 apprentices in this latest intake. “When we started the Danske Futures Apprenticeship programme back in 2018, it was an extremely exciting time and initiative for us. Since then, we’ve expanded the programme and have four different apprentice programmes and have 62 apprentices throughout our business,” Caroline van der Feltz, HR director at Danske Bank, said.

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INFLATION

Cost of living: ‘We will pay £40,000 more for gas and electricity in Belfast...’ Restaurants, cafes and bars are now facing a raft of fresh challenges, with soaring costs, a return to a higher VAT rate, inflation, and staffing woes, writes John Mulgrew

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INFLATION

here’s a perfect storm brewing within the hospitality sector across Northern Ireland.

While our restaurants, bars and cafes battled with the most protracted periods of closure during lockdown here, with many going under but many others keeping their heads above water, there are now a plethora of challenges hitting the industry, and hitting the industry hard. “We’ll pay £40,000 more for gas and electricity in Belfast this year,” Bob McCoubrey of Mourne Seafood says. Energy prices remain one of the most immediate costs to impact the sector’s top line, but staff shortages also mean many top restaurants are limiting the days in which they open, while also battling a higher VAT rate and rising food costs. “We’re currently open just five days due to staff shortages,” Bob says. “We would have had three to four people joining us every year from across Europe but we haven’t had anyone for three years.” Orla Smyth operates Kaffe O and has six cafes in Belfast and Newcastle. “The major issues for the industry are food inflation, energy costs, business rates and VAT going back up to 20%,” she says. “Plus, I genuinely feel we haven’t seen the full impact on reduction of disposable income and believe that will start to impact sales going forward.” She says that could make some smaller businesses “unviable”. “We won’t see the effect of this for a few months as VAT is only back up in April with rates back then too.” Stevie Higginson of Lisburn’s Square Bistro echoes similar concerns across the industry.

AUGUST 2022

“Staffing, energy, increasing prices for produce,” he says. “Energy is up 40% [and there are] increases in produce like never before… VAT increasing to 20% is another killer.” According to Bob McCoubrey of Mourne Seafood the return to 20% VAT – up from 12.5% – is “going to wipe a lot of people out”. But he says the effect will be delayed by six to nine months. He says demand is there, but not the staff to allow it to open more than five days a week. Regarding the staffing issues, Niall McKenna has said his James Street restaurant is closed on Tuesdays and Wednesdays due to that lack of workers. Stove Bistro on the Ormeau Road is facing similar concerns in regards to rising costs, including the rise in VAT. It says it’s now paying weekly for energy what it once did on a monthly basis. It’s clear there must be some intervention in order to avoid this perfect storm of challenges and issues destroying one of our largest and most important industries here. And while it could be argued towns and more suburban areas are faring better, generally speaking, something must also be done about our city centre as it stands. At times it no longer feels quite like the welcoming place it once did. And while we’ve had a few high-profile new store openings, and plans are under way to revamp CastleCourt’s former Debenhams store into an entertainment spot, there still remain issues – from crime to a host of vacant businesses, and those facing shuttering for good. Our hospitality sector needs assistance, and our city needs a cash injection and intervention to give it a post-lockdown kickstart to help it rejuvenate, refresh and restore. ■

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NEWS

‘Action needed’ to improve Belfast city centre Alana Coyle

ction must be taken to improve the cleanliness and safety of Belfast city centre, it’s been claimed.

Alana Coyle is the new president of Belfast Chamber, taking over the chains from Michael Stewart. Ms Coyle is a partner at commercial real estate advisory ﬁrm Finch. She says while the future is bright for Belfast, there must be a renewed focus on its regeneration and tackling problems which a majority of its members have highlighted. “A recent survey of 160 members showed that nearly two thirds thought that the cleanliness of the city centre was poor or very poor while 72% of businesses believed that the city was less clean and less safe since the pandemic. That simply isn’t good enough,” she says. “It is a real honour to be elected to serve as president of Belfast Chamber. Our organisation continues to go from strength-to-strength, ﬁrmly establishing itself as the voice of business in Belfast, and I am in no doubt that Belfast

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Chamber – like the city itself – has a bright future ahead of it. “A key area of focus for Belfast Chamber has been to encourage the accelerated delivery of the regeneration of Belfast, and we have sought to lead the debate on Belfast’s regeneration on behalf of all our members. “Belfast Chamber has devoted a lot of time in recent years to thinking about the spaces between those places and how we can make Belfast a more people centred city. We recognise that attracting and retaining talent is central to Belfast’s economic success. It is also a recognition of the reality that people’s expectations of cities like Belfast is changing. “During my time as president, Belfast Chamber will continue to work with our partners in City Hall and Stormont to push forward that positive agenda for Belfast, seeking to build a city that is an even better place to live, work, study and visit and, in so doing, beneﬁt businesses across Belfast. “As well as generating new ideas I want Belfast

Chamber to be a critical friend, pointing out where problems lie and what is impeding the growth of our city, and I want to do just that as I conclude by addressing something that is as visible to those of us who work in this city as the changing skyline is. “Belfast has come on leaps and bounds in the last 20 years. Belfast has undoubtedly changed for the better, but we also need to be honest and acknowledge when things aren’t up to scratch. “Belfast Chamber has long reiterated that clean and safe streets are the bedrock of any successful city. I know that many will share my concerns that Belfast is experiencing serious issues at present with cleanliness and safety… Belfast Chamber expects those with responsibility to do more and to do better. We will work with the council, the PSNI and other stakeholders to raise standards. “We have come so far as a city. We have worked hard to transform Belfast. We cannot allow cleanliness and safety to become a deterrent for visitors or investment.” ■

NEWS

Ulster Grocer celebrates 50 years

Bronagh Henderson, Henderson Group, Clare Forster of Mash Direct, and Ulster Grocer’s Alyson Magee

aunched as a tabloid in October 1972, the origins of Ulster Grocer date beyond 50 years. Its ﬁrst edition alludes to the incorporation of Irish Grocery World, published for many years by the late John Little, into the new title.

The ﬁrst issue refers to ‘a time of much activity and development in the grocery trade on the eve of the expansion of the European Community’. Fifty years later, the UK’s withdrawal from the EU is a key area of contention for the grocery trade and wider political environment.

Ulster Grocer was launched by Frank Grennan of Jemma Publications, who remained as publisher until the trade magazine’s sale to James and Gladys Greer of Greer Publications in 1992.

In 1974, Ulster Grocer converted to its current A4 format, while its masthead has evolved over the years alongside the trends of each decade. Revolutionary new computerised checkouts using barcodes and scanners were showcased in the magazine in 1976. Many of the issues highlighted in the title across the 1970s and 1980s have returned as news items in 2022, from inﬂation, shortages and best-before dates on perishable food to bottle deposit return schemes. Fortunately, imagery of bombed out shops during the Troubles has not returned. The last 50 years of the Northern Ireland grocery sector have seen the passage of the Crazy Prices and Stewarts heyday, and the arrival and subsequent dominance of the

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Katie Forker, Derry Group Ireland and Alyson Magee, editor of Ulster Grocer

multiples and latterly discount retailers. Our local symbol groups have, however, stood their ground, and are excelling across convenience and supermarket formats. In January 2009, Ulster Grocer launched a new website which, in March 2021, was migrated onto the high-trafﬁc site of its sister publication since 2016, the Belfast Telegraph. Ulster Grocer also operates popular pages on Facebook and Twitter, is entering the 35th year of its Ulster Grocer Marketing Awards and is the only local grocery title still publishing in print and digital formats. ■

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HYBRID WORKING

here’s no doubt that the Covid-19 pandemic has changed the way we work forever.

Across the world, employees are asking for flexible working arrangements that allow them to ditch the commute, spend more time at home or even relocate with their families, without compromising their employment. A recent study from Ezra, a digital coaching provider, showed 35% of office workers in the UK would choose flexible working over a promotion and 22% would choose flexible working over a pay rise. With flexible working now increasingly in demand, companies are trialling new approaches for maintaining staff wellbeing, whilst at the same time upholding the company’s overall performance. Hybrid working, unlimited annual leave and the introduction of a four-day work week are just three examples of models employers are trialling to increase flexibility for their teams in the new age of work. At Synergy Learning, we’ve adopted a remote-first and asynchronous approach, an introduction that we made to our working policy following discussions with the team about their wants and needs. Based on a combination of feedback and the ongoing needs of the business, we came up with a working model that means that all of us now work from home the majority of the time, and at a time we feel most focused. While flexible working arrangements can be excellent for team morale and performance, the introduction of hybrid working to any business requires leaders to evaluate the communications infrastructure they have in place. Employers can’t just send their people home; they have to ensure that the tools they provide maximise efficiency and connectivity, both to maintain productivity and to enhance culture and communication.

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The future of hybrid working and e-learning platforms Tory Kerley, Synergy Learning’s head of people, performance and culture, looks at how to get the best from hybrid working and why e-learning platforms are a necessity for the new age of flexibility

We’re all well accustomed to Microsoft Teams, Zoom, Google Meet, Slack and other popular communication tools, but in 2022, these simply aren’t enough to ensure that employees are engaged, growing in skill, and collaborating effectively. Businesses are now also required to plug the knowledge gaps left by the absence of regular open plan eavesdropping and water cooler conversations, which at one time facilitated the free flow of knowledge around a team. While Slack channels and team video calls address some of the issues associated with remote working, we’ve seen a surge in businesses turning to peer-to-peer learning

tools offered by e-learning platforms like Totara Engage. These businesses are seeking to not only to encourage remote teams and boost morale through communication, but to push remote workers on in their careers through steady streams of feedback and increased performance reviews. E-learning platforms may be alien to businesses when seen outside of the context of delivering courses or providing educational resources, but in fact, e-learning platforms can offer businesses opportunities for connection among teams that simply aren’t available through other communication channels.

HYBRID WORKING

Tory Kerley

An increased potential for all kinds of communication is what makes hybrid working work.

videos, podcasts, articles and blogs, and provides limitless options when it comes to team-building activities.

Totara Engage, for example, provides intuitive performance monitoring, which makes it easy for teams to check in with members that are in need of extra support.

It might sound cheesy to incorporate ‘gamification’ into a hybrid-working infrastructure, but it’s vital for companies to facilitate informal, relaxed interactions amongst staff, particularly while they work from home.

It also offers a customised performance review workflow builder and automated scheduling of regular check-ins with team members, meaning that if an employee is struggling, they won’t fall through the cracks. The platform also facilitates colleagues to curate and share learning playlists of valuable

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Employers can host in-person get-togethers for teams from time to time, and colleagues may occasionally bump into each other in the office, but platforms like Totara Engage, Totara Learn and Moodle LMS are well worth considering to ensure that teams

don’t become stagnant. The platforms can introduce a bit of friendly competition around the award of achievement badges, perks or prizes and help to keep teams engaged in a low effort, practical way. Hybrid working will continue to pose challenges for many businesses in the months to come, but the teething issues won’t last forever. Communication is key to building an engaged, enthusiastic and productive team, and employers must do all they can to surround their teams with the tools they need to succeed. ■

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REVIEW

Patek Philippe: 2022 brings forth a future classic and revamped icon

This year has been another busy one for Patek Philippe, revealing a host of additional colourways for a range of classics, new movements, an updated dress watch icon and an entirely new creation for this highest end Swiss watchmaker. John Mulgrew got hands on with some of the collection at Lunn’s at Queen’s Arcade in Belfast city centre

t’s very much love at first sight for me with any salmon dial Patek Philippe. The 5270P Perpetual Chronograph is piece you’d consider selling your house for and John Mayer’s unique made-toorder 5004G is a jaw-dropping spectacle of engineering, craft and balanced beauty.

A 41mm mechanical chronograph, cased in white gold, it sits balanced on the wrist – vintage pushers not sitting too far out and the case a mere 11.45mm thanks to a lack of rotor. It’s a marriage of soft, pastel salmon pink, mirrored sub-dials at three and nine, with clean applied numerals.

The new 5172G sits in somewhere at the intersections of a very expansive Venn diagram as a perfect (yet theoretical and totally unattainable for this writer) watch.

And with that lack of rotor in the back, all that intricacy and finishing can be enjoyed when off wrist, thanks to the clear sapphire case-back. It’s a typically impressive marvel of hundreds of

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hours of work and detailed hand-finishing and Côtes de Genève ‘striping’ along with a touch perlage. It’s a perfect watch. The new platinum 5236P is a very special watch indeed. A grand complication perpetual calendar, this piece’s party trick is packing in all those extra jewels and additional components under the surface to keep, what’s otherwise a normally busy dial, clean. Th automatic 5236P boasts in an in-line

The 5236P

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The 5905/1A

thanks to the platinum case, but it’s a perfect marriage of a strong, deep blue sea dial with vertical brushed lines, flush enough to sit under a sleeve. Alongside an equally rich blue leather strap, on paper it’s not something I’d have ever thought would have appealed. I was wrong. In person and on wrist it’s immediately evident this is a special piece. It glints and glimmers, with the rich indigo dial. You can keep your Nautilus.

perpetual calendar and a new movement (one of the most complex mechanical complications which in theory means the date and time would not require to be changed if the watch were to keep running for decades). These complications in modern times are a flex of the possibilities and abilities of the watchmaker. Does anyone actually need them? No. But that’s not the point. In this instance, it was an extra 118 additional parts just to create this new in-line display, and forging the multiple sub-dials normally making a perpetual calendar a busy affair. It’s a first for Patek, with the day, date and month displayed in three clean and clear windows below the brand, with seconds below and a moonphase. Sitting on wrist there’s heft

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at Watches & Wonders Geneva 2022 was an entirely rejigged and redesigned, modern, Calatrava. The 5226 is contemporary yet classic, but a move away from the classic Calatravas of old, boasting a charcoal grey dial, applied Arabic numerals and syringe hands. For something of a departure from the slightly thinner tapered bracelets and leather bands, a chunkier, somewhat less Patek offering, the 5905/1A now comes in steel with a very ‘of the moment’ olive green dial.

Patek has also unveiled new World Time variants, including the blue 5230P001. A more traditionally compact size of 38.5m the dial is adorned with a hand-guilloched motif, the automatic Caliber 240 movement with mini rotor and two city and 24-hour rotating disks serve to keep simultaneous and permanent track of the time in all 24 time zones.

The 5172G

It’s a busier dial than most but is a balanced, sharp and detailed piece – the guilloche in the centre a particular point of focus. With its relatively small case size and sitting at just 10.23mm thick thanks to that small rotor, it’s one for dressing up with. And one of the most interesting revelations

The flyback chronograph and annual calendar sits as a much bigger animal on the wrist, thanks in part to the 42mm case, chrono movement (with a 14.13mm case) and steel bracelet with wider lug width and no tapering.

It certainly makes its presence known without being too ostentatious or overtly boisterous. On my wrist it works fairly well – the lugs sitting relatively flat and tidy. At times the subtle sunburst dial is a light olive, others, a deeper almost forest green. It’s a robust piece but still feels entirely wearable on a regular basis. ■

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ANALYSIS

John Simpson: Addressing the case for income tax devolution When the Executive is restored, it will have difficult fiscal options from which to select the most appropriate to develop the economy, writes economist John Simpson

he Independent Fiscal Commission for Northern Ireland has reorientated the probable direction of plans to use additional devolved key tax changes as a method of strengthening the way in which the local economy will develop. Before the arrival of the Fiscal Commission, the most quoted prospect, endorsed by the Northern Ireland Executive, was the introduction of the power to amend corporation tax. Up until three years ago, the expectation agreed with the Treasury was that NI would reduce the rate of corporation tax to bring it into line with the prevailing rate in the Republic of Ireland, 12.5%. The logic of a major reduction in corporation tax was easily accepted: it would mean that NI could attract major investment by large multinational companies using a tax incentive that enabled NI to compete more strongly with the Irish offering.

Second, there has emerged a possible major international agreement that corporate taxation should be codified by an agreement that, for the largest international companies, a corporate tax rate of 15% should be adopted.

In relation to possible changes in corporation tax powers, the judgment of the Fiscal Commission relies heavily on the perceived administrative problems. It sets out five preliminary conditions:

This plan (not yet finally agreed) suggested that the competitive value of adjusting to 12.5% for Northern Ireland companies was in doubt.

 A clear statement of how the devolved powers would be used, which is an indirect caution that they would be more complex than first appears

NI has the legislation in place to allow a specific NI corporation tax rate to be introduced, but it has not been activated. The Fiscal Commission, in its recent extensive review of the possible options for greater tax devolution, suggested that the priority in gaining further devolution of taxation as an aid to local development should switch to consideration of other changes in taxation. In priority order, it suggests consideration of changes in income tax, national insurance charges and variations in VAT. The commission even goes further and firmly argues: “We consider that, of the major taxes, income tax is most appropriate for devolution, at this time.”

 Agreement with the Treasury over how the block grant to Stormont would be adjusted  Clear methods of agreeing how the indirect effects on Stormont revenue would be agreed, including (ominously) a disputes mechanism  An agreement with the Treasury on time-limited additional borrowing powers for Stormont to cover part of the short-term revenue loss created by a tax reduction  A clear commitment from the NI Executive over how it would balance its budget after a revenue reduction consequent on the proposed continuing revenue reduction.

But two factors have now made this proposition less attractive. First, an agreement had to be reached with the Treasury that the NI budget could still be acceptably managed without the tax revenue forgone.

The commission has made this judgment on the various degrees of flexibility that can be more easily introduced into the existing UK taxation structures.

These conditions for a major corporate tax rate reduction pose what would be a formidable challenge to the NI Executive.

Although the detail of the negotiations remained confidential, further comments suggest that there was no easy agreement on that condition.

It makes no explicit judgment on the relative benefit for the local economy of the possible incentive effects of changes in income tax versus corporation tax.

Nevertheless, in the search for the most effective incentive to encourage extra incoming investment, a lower corporate tax rate offers an attractive option.

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ANALYSIS

John Simpson

An alternative option might be found in another method of enhancing potential profitability to new investors by reducing some major aspects of operating costs, such as labour.

sufficiently improved results (increased profitability) so that special Government incentives through taxation were unnecessary. Is this a pipe dream?

That alternative is inherently less attractive and might, in budgetary effects, be a more expensive option as well as being even less acceptable to the Treasury.

When the Executive is (eventually) restored, it will have difficult fiscal options from which to select the most appropriate to develop the economy or offer extra social protection or accelerated ‘green’ measures.

In the longer term, if NI is to attract a higher level of external investment, the most enduring answer would be found if productivity, essentially labour productivity, improved to the point where external investment enjoyed

The Executive is now facing a much enhanced degree of choice in its priorities for development. Since the level of unemployment has now fallen to much lower levels than in recent years, the Executive may be tempted

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to reduce the efforts to attract foreign direct investment (FDI). However, that choice poses a serious dilemma. The outstanding focus for economic policy needs to be on skills and productivity. Those options will bring the Executive back to a search for FDI. The development agenda remains a key priority demanding a refined choice of policy objectives. Executive ministers, and their advisors, will need an enhanced degree of professional skill and judgment when they resume responsibility for the management of the regional economy. ■

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HOSPITALITY

BULLHOUSE EAST Newtownards Road, Belfast

oused in the former location of a plus-size clothes shop in east Belfast it may not appear to be an obviously auspicious start for Northern Ireland’s new beer bar and first permanent taproom.

Belfast: from big brews to bold burgers John Mulgrew pays a visit to two of Belfast’s newest watering holes and food spots to see what’s on offer for both beer fans and gourmands alike

But Bullhouse East – from Willy Mayne’s brewery Bullhouse Brew Co – already feels like part of the furniture. It could also hardly have hoped for a better opening week judging by the gaggle of beer buffs making their way through the doors of the Newtownards Road location. It’s also the first new full license to be granted in the area in around 30 years. The beer bar and taproom is an expanse of solid poured flooring, akin to something you’d find in a brewery, light, airy with clean and simple white wooden tables, chairs and benches, alongside a beer garden at the rear. With the prevalence of smaller and simpler contactless payments systems, and forgoing large traditional tills, the bar area is clear and sparse. The brick and steel bar sits to the right as you walk in, a chalkboard of 20 brews on the back wall with the taps sitting underneath. The bathroom game is also strong – dark green décor and plenty of individual cubicles. The big focus is currently on Bullhouse’s own range of brews, and that’s certainly no bad thing. For those still averse to a lip puckering sour or silage-esque tang and bitterness of a big IPA, there’s a wide selection of drops that are likely to keep tamer palates happy. Bullhouse’s pilsner is a crisp and clean offering, while Frank the Tank is a juicy but relatively low ABV pale ale which is a decent middle ground and jumping off point. The brewery’s double launch of Yer Ma and Yer Da beefy IPAs are there for those after something with more hops and heft, while Cohumulone Cowgirls is a fresh and punchy

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IPA, served up as two thirds. As launches and opening weeks go – while there’s obviously an initial buzz built up – the first day and half seemed to have ticked a lot of success boxes. Little more than 24 hours after it first opened its doors and Bullhouse East was already heaving – tables filling up fairly sharpish after 7pm and an hour or so later it’s standing room only outside for a time. The pizza oven is yet to get going but will be serving at some stage in the near future. Dogs are welcome. It’s not something I’m a huge believer in for a number of reasons, but it seems to be the done thing these days. Bullhouse East does have ample space though so it’s much less of an issue that other smaller watering holes.

While the crowd is likely to be more mixed and varied as it beds into the local area, on the first full day of opening there are a lot of small baseball caps, cool trainers and the odd moustache here and there. And while it’s all about fresh tap beer, there’s a strong can and bottle game on offer. There are big UK and Irish brews, including some juicy drops from Verdant and more subtle lagers from Newbarns Brewery, along with a couple of pricier larger bottles from the likes of Drie Fonteinen and Otterbank Brewery. There’s also a handful of half decent wine by the glass for those who remain hop averse. Bullhouse East feels like it’s already forging a place on the city’s beer map, and judging by the initial inertia on opening week, that impact can only grow in the months and years ahead.

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edges, permeated by a hit of acid from the accompanying sauce, pickles, and wrapped up in oozing American cheese. It’s a tenner. But it’s a tenner spent well. Al Pastor focuses on a Mexican street food, and offers up a range of dishes, including the spit-roasted tacos from which it gets its name. They are punchy, rich and smoky, with contrasting sweetness coming from wellcharred pineapple. There’s been a renaissance in the humble chicken burger of late – a focus on Korean or Japanese-inspired versions which lean towards big crispness, technique and texture. Hey Chick’s Korean-style offering ticks a lot of the boxes. It’s crisp, savoury and moist (thanks to the dark thigh meat over breast), cut by the fat and acid in the slaw and softness of the potato bun.

COMMON MARKET Dunbar Street, Belfast

ringing a host of different food offerings under one roof is one way of both expanding a city’s food repertoire, along with satisfying the public’s growing appetite for casual food. Belfast’s St George’s Market has long held its place as a food destination in the city – a melting pot of fresh suppliers and pop-up stands offering on-the-go sustenance for the thousands who flock to it at weekends. However, there’s also an increasing demand for that mixture of food and drink, along with a later closing time and ‘nightlife’ atmosphere. Common Market has joined a couple of other spots in the city attempting to blend a selection of decent food spots with a full bar. While destinations like Mackie Mayor in Manchester can surf on the backdrop of a grand listed Victorian building, Common Market calls the former Arnott’s fruit

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warehouse, close to Dunbar Link, home. It’s a roomy affair – a few tables nestled on the left, dozens of long benches and tables in the main area, a large bar towards the rear, and a selection of pop-ups and food vendors towards the right. You may know where I stand on the burger. It’s long been resigned to the list of things I’ll stay away from on a menu. It’s often reduced to a dense, over ground puck of meat, flavoured with all sorts, and buried in a heap of deep-fried accoutrements and greenery. That’s not the case with Baps by Freight, I’m pleased to say. It’s all about the LA-style thin ‘smash’ burger on this occasion. Two patties of ground beef are flattened to mere rumour around the edges, leading to both a large surface area and a resultant Maillard effect – browned, crisp and savoury. It’s a well-balanced burger, enough fat to lean ratio, rich, shards of dark, mottled,

You also have something of the familiarity of potato-based stalwart Oui Poutine. It’s normally found close to the ‘Big Fish’ at Donegall Quay. For poutine, the focus isn’t necessarily on crispness of fry, but the unctuousness of potatoes lovingly drenched in savoury umamirich gravy, topped with chewy, clean dairy bites of cheese curds. Ball and Roll focuses on higher-end hot dogs, along with a raft of specials, while Lasa is a pop-up Filipino restaurant which has its main restaurant in Comber. It was another I didn’t get a chance to peruse on this occasion, but there’s a lot to like about the menu. It’s firmly on the list for the next encounter. And for the sweet options, there’s Moon Gelato, offering up a wide range of Italianstyle ice-cream flavours, including chocolate espresso and pistachio. Pricing on the guest beers seems a touch on the lofty side, so sticking to something familiar on draft is likely your best option. ■

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AWARDS

Almac Group takes top gong at Belfast Telegraph Business Awards

Margaret Canning, business editor, Belfast Telegraph and Mark Crimmins, head of NI, Ulster Bank (centre) present the Overall Business of the Year Award to Niall Harkin and colleagues from Almac Group

harma giant Almac Group has been named Overall Business of the Year at the 2022 Belfast Telegraph Business Awards in partnership with Ulster Bank.

over 300 life-saving drugs in areas including oncology, cardiology, immunology, gene therapy and neurology. It has also supported over 200 separate research projects for Covid-19 vaccines and treatments.

Ulster Bank was proud to work in partnership with the Belfast Telegraph to deliver this year’s Business Awards and recognise the exceptional talent and entrepreneurial spirit of business leaders here.

And entrepreneur Patrick McAliskey, the cofounder of Novosco, has been honoured with a Lifetime Achievement Award.

Firms and businesspeople across 16 categories were honoured at the black tie awards ceremony at Belfast’s Crowne Plaza Hotel tonight, attended by around 450 people.

“Each and every one of the winners honoured this evening has shown immense levels of innovation and ambition and rightly deserves to be congratulated on their achievements, particularly in light of the current economic challenges and issues.

Almac, which is based in Craigavon, employs over 6,500 people in 18 locations across the globe, including over 3,400 in Northern Ireland. It’s currently involved in the development of

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It was the first full Business Awards celebration held by the Belfast Telegraph since 2019. Mark Crimmins, regional managing director at chief sponsor Ulster Bank NI, said: “Once again

“On behalf of Ulster Bank, I’d like to pay tribute to the event organisers, our partners at the Belfast Telegraph, and the team of judges

AWARDS

Eoin Brannigan, editor-in-chief, Belfast Telegraph and Mark Crimmins, head of NI, Ulster Bank (right) present the Lifetime Achievement Award to winner Patrick McAliskey

Host Mark Simpson at the Belfast Telegraph Business Awards at the Crowne Plaza Hotel in Belfast

for their help in making the awards a success and putting together such a strong showcase for our local business community.” Eoin Brannigan, editor-in-chief of the Belfast Telegraph and Sunday Life, said: “I’d like to congratulate all our winners on their highlydeserved success, including Almac Group for their big win of Overall Business of the Year, and Patrick McAliskey, the winner of the Lifetime Achievement Award. “Congratulations to all those who were shortlisted, and a big thank you as well to everyone who entered. “Thank you to our headline sponsor Ulster Bank for its support, and to all our category sponsors. “It has been a fantastic opportunity to celebrate the success of businesses in Northern Ireland throughout the challenges of Covid-19 and the post-Brexit period. “It has also been a really positive experience to be able to hold a full black-tie event this year to celebrate our Business Awards, after two years of holding socially-distanced presentations for our winners.”

Max Nesbitt (right) from Wilson Nesbitt presents the Best Large Company of the Year Award to Niall Harkin from the Almac Group

said he was “no stranger to many in the business world”. “He left school at 17 to join the RAF where he honed his skills in electronics as an airfield technician.

Mr McAliskey co-founded IT company Novosco, which has since been taken over and is now operating as Telefonica Tech UK&I.

“That led to an obsession with software and a job with FG Wilson. He then founded Novosco and grew it into one of Northern Ireland’s bestknown and most successful IT companies.

He has since opened a craft brewery in Lurgan. Praising Mr McAliskey, the panel of judges, chaired by Professor Mark Durkin, executive dean of the Ulster University Business School,

“Under Mr McAliskey’s leadership, Novosco won a landmark £107m contract with Cambridge University Hospitals Trust, was ranked amongst the best companies to work

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for in the UK, and won Outstanding Business of the Year at the Belfast Telegraph Business Awards. “He also led a series of successful mergers and acquisitions and ultimately a multi-million pound sale.” The judging panel added: “Today, he is chairman of fast-growing tech firm Outsource Group and non-executive director of food-togo company Around Noon. “Passionate about economic development in his home town of Lurgan, he also owns a craft brewery there called Spadetown.” ■

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TECHNOLOGY

The tech crunch: less cash, fewer jobs and even more uncertainty Adrian Weckler looks at the slumps facing some of our biggest tech firms and why there remains tumult ahead for some in the tech sector

n the last few months, tech stocks have slumped. Almost no one has been spared: anyone who held £1,000 in Apple, Google or Amazon shares in April would be down between £250 and £400 at this point. Investors in other stocks, such as Netflix, have lost up to 50% of their value in that time. It’s not just public-traded entities, either. The fall has also hit privately-held and pre-IPO tech companies. Stripe has been marked down by at least 13% by some major funds, while Klarna is reportedly seeking a ‘down round’ that could cut its value by a third. What does all of this mean for Irish startups and ‘scale-ups’ hoping to raise money from now on?

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How do they deal with staff expectations around equity compensation and progression? Is a lowering of deal valuations now inevitable, following the general market trend? First, the good news for early-stage startups: there’s actually quite a lot of money floating about in Ireland to fund such firms at present. In June, Act Venture Capital announced a new €140m fund which the company says is earmarked for up to 35 different startups and companies here. And with well over €1bn raised in the last 12 months, even a significant falloff would still leave greater depths of funding than at any time up to two or three years ago.

“A number of funds have closed new funds in the last 12 to 24 months,” says Sarah Jane Larkin, director general of the Irish Venture Capital Association (IVCA). “And in order to generate a return for LPs [limited partners], this capital will have to be deployed. Secondly, we are very fortunate with the timing of the €90m Irish Innovation Seed Fund Programme for Irish startups. However, not everyone thinks that startups will dodge significant challenges. “There’s some nuance here,” says Eamon Leonard, a serial Irish founder who has become a significant angel investor and is now a co-founder of a new venture capital fund, Broadstone, that targets pre-seed startups.

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immediate hit to Irish indigenous tech firms is likely to be felt by bigger ‘scale-ups’. “The ones most affected are those that are directly comparable to public market peers, later-stage companies,” Stephen McIntyre, a partner at venture capital firm Frontline and a former vice president at Twitter’s Dublinbased EMEA headquarters, says. “Very young companies have been relatively unscathed with early-stage investors still active in the market. “But VC funding stages are a capital supply chain and the bullwhip effect will be felt throughout the chain eventually. This, he says, could be felt more acutely by companies seeking a series A or series B round, rather than at a seed stage. But if valuations fall and money is harder to come by, where does that leave a startup’s staff? It’s not just that runway cash and equity valuation form part of an employee’s wage structure, say some experts. Cuts to hiring and growth support measures, such as marketing and sales, affect the way that staff think of their own roles at a company. “Thousands of startups are about to embark on cost-cutting exercises to increase their runway,” wrote Stephen McIntyre in a blog post on the subject earlier this summer. “There is definitely capital that has been raised by VCs which needs to be deployed, but VCs are also tending to their own portfolios now and making sure their companies have enough runway to survive through the next 18 to 24 months. While they still have to invest in new companies, the competition to get into deals will be a lot less, and founders are probably going to have to work harder to raise rounds even at ‘reasonable’, pre-2020, levels. Investment timelines will slow down also.” Despite all of that, Mr Leonard says he believes that the funding environment is “a lot friendlier” to founders today than a decade ago. Other senior figures say that the biggest

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“VCs like us tend to encourage aggressive action because in a crisis it’s risky to undercorrect. But we should take care to describe the side-effects too.

“What started as one targeted round of layoffs subsequently triggered waves of uncontrolled staff attrition, which exceeded 30% in the following year,” he wrote in the blog post. Despite this threat, Irish firms already scaled can expect not to face too much pressure of substantial ‘down rounds’, according to the IVCA’s Sarah-Jane Larkin. “Irish valuations at seed, series A and B have stayed healthy and relatively modest and have not rocketed in the way they have elsewhere, particularly Silicon Valley,” she says. “So I think there will be fewer down rounds here than may happen elsewhere. The Irish ‘unicorns’ all have a solid business model and are generating revenue, so the focus, even for companies that have raised significant rounds, will be on controlling costs within the companies and improving financial metrics to justify valuations. “It is unlikely that costs, particularly salaries, will reduce in the near future. So if you [as an investor] believe in a company and its prospects for success, there’s very little incentive to underfund and hamper its ability to grow and hire. “My feeling is that the first pressure point will be on for funds raising funding from LPs. Previous returns and track record will be in the spotlight and, as such, VCs will be hoping to maximise valuations when exiting from investments. So there’s no incentive here in the short term for lower valuations on existing portfolio companies.

“Startups can’t hover. They are exquisitely designed to do one thing well: grow fast. Large markets, novel technology, venture capital, and equity-based talent acquisition work together to promote fast growth or fast failure.”

“The big focus will be on funds making sure they can extend the runway for portfolio companies until market conditions improve or the companies are revenue generating.” Eamon Leonard says: “If the Irish tech ecosystem is to thrive, and if we as a country want to reduce our reliance on foreign direct investment, then we need to properly invest in home-grown successes.

This can be a mortal threat to a tech firm that is dependent on high doses of energy and optimism to thrive, Mr McIntyre says, who described how an 8% staff cut at Twitter turned into something much more damaging.

“That means that founders who are bearing all the risk at the early stages need to be supported by investors who deeply understand and have appetite for that risk. That’s the reason we’ve started building a fund dedicated to investment at this stage.” ■

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REVIEW

P Review: punch and balance in plantbased Jumon

utting big, well-seasoned, punchy and umami flavours in meat and dairy dishes is a relatively straightforward affair – it comes with the territory. But there are few places that seem to be able to translate that to a largely vegan and plantbased menu quite as well as Jumon. “What’s that,” my dining partner asks a server, pointing to a plate making its way from the pass just behind our heads – large, spiky crunchy shards of poppadom emanating from it. We order it to investigate. We are not disappointed.

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Jiaozi dumplings at Jumon

REVIEW

spend an hour, a few quid and eat well — very well. The aforementioned anonymous dish which caught my friend’s eye emerged as a turnip and doenjang dip (the latter a fermented soy bean paste). While appealing in presentation, it still belies the strength of its flavours. It’s explosive on the palate – a combination of the ultimate savoury umami from the smooth texture, the added punch of sesame, crunch and warmth and slipperiness of the chilli oil and greens. Some of that punch is helped along the way with extremely savoury furikake seasoning.

Turnip and doenjang at Jumon

When the Fountain Street spot opened its doors four years ago, its lively and bustling nature along with a focus on turning attention away from meat and the majority of dairy, while maintaining bold flavours, helped stamp its position in the city’s burgeoning food scene. It was the gado gado salad that caught the palate of the other half and I on our first visit many a moon ago. Fresh, punchy and complete with a sweet and unctuous sweet potato croquette. On this occasion on a damp Monday evening – when many of the city centre’s best spots are shut – Jumon remains a buzzing venue to

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It’s more depth than you’ll find almost anywhere. There are few things which will linger on the palate and the mind as much. It stays with you. The jiaozi (above, Chinese dumplings akin to Japanese gyoza) come as five perfect little parcels filled with Chinese leaf and mushroom, surrounded by ‘jade’ mayo. They are crisp, making way for softness, savoury and are wellseasoned, permeated by the acid and bite of kimchi and creaminess and fat of the mayo. Jumon has a couple of decent and punchy local and well-made brews on (enough to keep me happy for an hour), along with a small and very affordable wine list. There are also cocktail options and those circumventing alcohol. The mandu tacos come as the ‘bigs’ whereas

THE BILL Jiaozi dumplings £9 Turnip and doenjang £9 Mandu tacos x2 £28 Boundary IPA x2 £11 Total with service £62.70

the above are listed as ‘smalls’. There’s Yunnan aubergine, greens, mushrooms, avocado, salsa verde, truffle (although not clear if truffle oil or fresh), more of the furikake seasoning, smoked cheese and rice. It’s a solid collection of ingredients when rolled up and eaten with the accompanying flour tortillas, but it’s missing textural contrast, while the melange of flavours makes some indiscernible. Homemade corn tacos could have lifted things in terms of flavour and texture. There are lots of other very appealing things making the menu which are likely to attract you back. Korean fried rice, butter cashew curry, crispy sushi rice, ramen with a kimchi broth, chaat masala and jackfruit curry, to name a few. Part of what sets Jumon aside in plant-based dining is a focus on seasoning. Meat-based cooking, especially red meat, tends to secure all the salt, flavour and umami it needs, while that’s not always replicated elsewhere. Jumon packs flavour in every gap and orifice on the plate. There’s punch and balance in each and every bite. It’s worth your time. ■

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The column with an ear for experience...

How did you start out in your business? My background is corporate banking, having worked for the majority of my career in Ulster Bank and Danske. Curious as to what other funding options were available I began looking into the non-bank lender/alternative funding market which is quite active in GB but less so in Ireland. When I was approached by Oakland Holdings about developing and growing a locally-owned and controlled non-bank lender, the combination of market opportunity, timing and team felt right, so I made the move. What have you found the most challenging during your years of business, so far? I had a brief period while in banking where I felt things had become stagnant. As someone who enjoys new challenges and experiences, I found that challenging. It could feel beyond your control. But those are often the moments where you reflect and take stock of. I try to take the optimistic view on things, that you learn from challenge and it provides a catalyst for growth, so I tend not to shy away from it. How would you describe your management style? I enjoy collaborating with the wider team to deliver quick results. Having ongoing engagement with team members and encouraging that communication across the team tends to foster an environment of trust

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Name: Ciaran McLaughlin Position: Head of business development, Belfast Commercial Funding and respect which leads to the best results for our clients. There are of course times whereby you have to be more authoritarian to get things done, but they are few and far between. The key that I have observed over the years, regardless of management style, is that you are authentic to your own values, which provides consistency. What would you change if you could go back and do it all again? Without being too philosophical, I really do believe that everything happens for a reason. So rather than ruminate over what has happened in the past, it’s more productive to take the learnings from a situation and apply them going forward. Have you done it all on your own? Far from it. I’ve been very fortunate over the years to have had several more senior/ experienced individuals take a genuine interest in my professional development. They have rarely been through formal mentor agreements, more often it is people who I have dealt with, respected, and have got to know personally

and they have then offered perspective and advice. In terms of actual deal delivery, again, I certainly have not done it alone. I have been lucky for the most part to work with great teams of people. You learn so much from having good people around you and it’s a positive reinforcement cycle. How would you like your business to be remembered? If Belfast Commercial Funding allows borrowers to achieve their business goals, that wouldn’t have obtained funding in our absence, that’s a great result. In some instances, that’s going to be buildings being built or redeveloped, in others it will be a business expanding and taking on more employees. But the fundamental is, it should be positive for the overall economy. Ultimately, we want to use our capital to support economic growth and prosperity. What piece of advice would you give to a 20-year-old you? Follow your instincts and you’ll not go too far wrong. And wear sunscreen.

Motoring By Pat Burns

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MOTORING

Bentley’s S express

entley is bringing contrast and depth to its Continental GT family with the launch of a new S range, focused on driving performance and visual presence.

Through a multitude of enhancements to the exterior design, interior specification and dynamic system, the new S range adjusts the Bentley grand touring recipe to concentrate on the pleasure of driving – an opposing view to the ‘Wellbeing behind the Wheel’ concept of the recent, comfort-centric Azure range launch. Owners of Bentley’s two-door models have long appreciated the breadth of choice available to them, from the towering performance of the 6.0-litre W12 Continental GT Speed to the characterful beat of the 4.0-liter Continental GT V8. Now, with the arrival of the Continental GT and GTC S, owners can choose to emphasize the sporting character of the 4.0-litre V8-powered Bentley Continental GT, thanks to a package of performance-focused design and engineering features. The new S range retains the 542 bhp and 568 lb ft (770 Nm) 4.0-litre V8 engine that’s proved incredibly popular with customers around the world, delivering a time of just 4.0 seconds for

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0-62 mph. For the GT and GTC S, the engine is enhanced by the fitment as standard of a Sports Exhaust to amplify the V8 beat. The eager, free-revving and lighter 4.0-litre V8 engine gives the Continental GT S models a responsive and agile character, and this is amplified by Bentley Dynamic Ride – the advanced 48 V electric active anti-roll control system first pioneered by Bentley. By generating up 959 lb ft (1,300 Nm) in 0.3 seconds, motors within the anti-roll bars actively compensate for cornering forces to minimize body roll under hard cornering, while also improving ride comfort at cruising speeds by decoupling the left- and right-hand wheels from each other. From the black gloss radiator grille and black ‘brightware’ to distinctive S badging on the front fenders, the new S models make an instant impact. Headlamps and rear lights are dark tinted, while all exterior ‘brightware’ is specified in gloss black – with only the winged Bentley badge and lettering being finished in bright chrome. The effect of these features is to give the GT and GT S a more assertive stance regardless of the limitless choice of exterior colours they’re paired with. The S range is offered with an all-new 22-inch wheel option, with five Y-shaped spokes

finished in gloss black and also available in a new Pale Brodgar Satin finish. Red-painted brake callipers sit behind the wheels to provide a perfect sporting contrast. A second wheel option for the S models is a 21-inch tri-spoke wheel design that combines gloss black and bright machined finishes. Finishing touches for the exterior include S badging on the front fenders, quad exhaust tailpipes (in black, naturally) and sill extenders in black as featured on the Continental GT Speed. Complementing the exterior design is an interior that’s striking and performancefocused, with a two-tone colour split that’s unique to the S models. In the early days of Bentley, competitors at Brooklands and Le Mans would wrap steering wheels in cord for extra cushioning and a more secure grip. Today’s sporting Bentley drivers are rather better served, with the suede-like properties of Dinamica proving ideal for the steering wheel, gear lever, seat cushion and seat backrest of the Continental GT and GTC S range. Leather hide is employed on the seat bolsters, door pads, along the instrument panel and around the console. ■

MOTORING

Honda’s hybrid SUV H onda’s compact SUV has been completely redesigned and is now only available as a petrol hybrid.

The all-new HR-V is equipped as standard with Honda’s e:HEV hybrid powertrain, giving the popular mid-size model a mix of efficiency and performance. The new HR-V joins the refreshed CR-V and recently launched Jazz in being available only with a petrol-electric powertrain. With no need to plug-in and charge, the HR-V is suitable for every driving situation, combining the responsive performance and efficiency of an electric vehicle with the usability of petrol powered cars. The next-generation of the brand’s popular compact SUV offers classleading space, comfort and space, as well as advanced safety and technology features, all within a coupe styled SUV body. The HR-V has an interior that is more comfortable to sit in. This owes much to Honda’s compact, integrated powertrain technology and the centre fuel tank layout. The result is class-leading interior space, as well as great flexibility thanks to the versatile ‘Magic Seats’ that offer both ‘fold-flat or ‘flip-up’ options depending on the cargo space required. As with the exterior, the spacious interior has a solid, premium SUV feel, but with

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contemporary fabrics and soft-touch materials. The feeling of airiness and space is helped by a new air diffusion system that creates a curtain of fresh air beside and above passengers, flowing from unique L-shaped vents positioned in the top corners of the dashboard. The e:HEV powertrain consists of two compact electric motors that work alongside an Atkinson-cycle 1.5-litre DOHC i-VTEC petrol engine, a lithium-ion battery and an innovative fixed-gear transmission coupled to a power control unit. The system benefits from advancements made over 20 years of hybrid development in Honda road cars and in Formula 1. The HR-V produces CO2 emissions from 122 g/km (WLTP), returns fuel economy of 5.4l /100km (WLTP), and accelerates from standstill to 62mph in 10.6 seconds.

The intelligent electronic control unit automatically, and constantly, switches between electric drive, hybrid drive or engine drive depending on which is the most fuel-efficient drive mode at that specific driving situation. When driving at a constant high-speed, such as on a motorway, the system operates on engine drive as that is the most efficient for that scenario. If further acceleration is required,

such as when overtaking, the car will switch to hybrid drive for an additional performance boost. Additionally, when in hybrid drive, power from the petrol engine-driven generator can be diverted to recharge the battery. ‘Sport’ mode can be activated through a drive selector, enabling sharper throttle response, whilst ‘econ’ mode adjusts the air conditioning system and throttle response for an emphasis on fuel efficiency. In addition to ‘normal’ mode, where the car is best balanced between both worlds, drivers can switch across the driving modes at the flick of a switch. For an increased EV-like experience, drivers can also select B-range from the transmission, which offers selectable levels of energy recovery when coasting or braking. The level of energy recovery and the resulting strength of the deceleration effect can be substantially increased over the regular D-range, by using the paddles behind the steering wheel. The transfer between these drive modes – including the start of the engine to generate electric power – is virtually unnoticeable. If you’re still not sure about switching to full EV, hybrid is the way to go. Prices start at £26,960. ■

MOTORING

Golf’s estate agent

e love our Golfs here in Northern Ireland. The latest version, the Mark 8 came out just before lockdown in 2020 so there are not that many of them on our roads yet but that hasn’t stopped VW from developing the range. They’ve recently launched an estate version of the Mark 8 Golf R. The Golf R Estate may be exceptionally sporty, but it also retains all the characteristics you’d expect from a Golf estate: this is a versatile all-rounder, a comfortable leisure-oriented and family friendly estate car for all walks of life. Its suitability for everyday use is in no way compromised by the R-specific sports running gear (lower by 20 mm) and the fact that it is designed with motor racing in mind. The interior of the R Estate fully benefits from the 66 mm longer wheelbase of the Golf Estate compared with the Golf.

Passengers in the back will appreciate the extra room with legroom expanding from 903 mm to 941 mm. The vehicle has a luggage compartment volume of 611 litres, which increases to a maximum of 1,642 litres if loaded up to the roof and with the second row of seats folded down. For the first time, the

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Golf R Estate is available with an optional ball coupling with a permitted maximum trailer weight (braked) of up to 1.9 tonnes and a drawbar load of 80kg. The exterior styling such as the front bumper with splitter and side wings as air deflectors dominate the powerful exterior of the R Estate. The Golf R’s rear bumper is completely new as well as the sports exhaust system. The Golf R Estate features the redeveloped 4Motion all-wheel drive with R Performance torque vectoring with selective wheel torque control on the rear axle. Here, a new rear final drive distributes the drive power not just between the front and rear axles as needed, but also between the rear wheels. This increases the agility of the Golf R Estate, particularly when cornering. The four driving profiles comfort, sport, race and individual come as standard. Drivers can use a button to adjust the ESC to their requirements by selecting one of two settings. ESC can also be switched off completely, however, the autonomous emergency braking and the swerve support reactivate the full ESC system in an emergency.

The 1,984 cc four-cylinder turbocharged engine now develops 320 PS in its fourth development stage. That’s 20 PS more than its predecessor. The maximum torque has increased from 400 Nm to 420 Nm. This is available even at low engine speeds of just 2,100 rpm and remains constant at this high level up to speeds of 5,350 rpm. The new engine fulfils the current EU6 AP emission standard. A new brake system with 18-inch brake discs is fitted on the front axle. This means they are one inch larger than the previous model. Compared to those in its predecessor, the driver’s controls have been almost completely redesigned. Touch buttons, touch sliders and touch screens substitute the functions of classic controls and analogue displays. The R-specific digital cockpit pro offers exclusive features such as a new, horizontal engine speed display at the upper edge of the fully digital display as well as a lap timer for keeping time on the race track. And you can operate the vehicle with voice control, if you wish. The new Golf R Estate is priced from £44,535. ■

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MOTORING

all-wheel drive system. The permanent magnet, synchronous rear motor enables peak torque in 0.5 seconds for ultimate responsiveness. The available all-wheel drive system applies torque independently to the front and rear wheels for improved acceleration and handling. Unique settings for shock absorbers, springs, anti-roll bars, steering and powertrain have been tailored for Europe’s typically narrower, more twisty roads and higher speed limits. Recharging is fast and simple. Ford is offering Mustang Mach-E customers an optional Ford Connected Wallbox to make charging from

New Mustang cuts range anxiety

ord has launched its first new from the ground up electric vehicle – the Mustang Mach-E.

Powered by a responsive, energy-efficient, battery-electric drivetrain, the first SUV member of the Mustang family is offered with a choice of single-motor rear-wheel drive and dual-motor all-wheel drive performance that can deliver super-car-comparable 0-100 km/h acceleration in as little as 3.7 seconds. Standard and extended-range battery options eliminate range anxiety – offering up to 380miles WLTP pure-electric driving range between charges for worry-free ownership and peace-of-mind.

stress-reducing driving experience. Every Mustang Mach-E will offer whisper, active and untamed drive modes that match driving dynamics to the driver’s mood. The coupe-silhouetted, five-seat SUV will also get better over time using over-the-air updates. Whether equipped with 288-cell, 68 kWh standard-range or 376-cell, 88 kWh extendedrange variant, the lithium-ion battery is located centrally between the axles and beneath the floor for a low centre of gravity that supports sporty Mustang dynamics.

The Mustang Mach-E also breaks new ground with Ford’s most sophisticated comfort, convenience and driver assistance technology offering ever. Next-generation SYNC learns from driver behaviours to make time-saving recommendations.

The high-performance batteries – tested at temperatures as extreme as minus 40C – are secured inside a waterproof case surrounded by crash absorption protection. An advanced active liquid heating and cooling system regulates battery temperatures for optimised performance in extreme weather, improved charging times and sustained high-speed driving.

Intelligent range can more accurately calculate driving range using cloud-connectivity. In addition, Ford’s latest assisted driving, parking and accident-avoidance technologies deliver a

Battery power is transferred to an all-new, oil-cooled, rear-mounted AC motor to drive the rear wheels, and an additional frontmounted motor for models equipped with the

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home faster, smarter and more convenient. Available in 7.4 kW and 11 kW versions, the wall-mounted charger can top up the Mustang Mach-E battery from 10% to 80% in approximately six hours. Mach-E customers will also receive as standard two charging cables to keep them driving wherever their journey leads. The six-metre Ford public charge cable is compatible with the common charging points, enabling customers to easily connect to AC chargers. The 6.7-metre universal home charge cord enables connection to standard domestic and 32 A blue industrial sockets for higher speed charging even without a Ford Connected Wallbox. The Mach-E also offers one-pedal drive capability that helps return more kinetic energy to the battery, for greater efficiency. Acceleration and deceleration are controlled through pressing or lifting-off the accelerator pedal – for the authentic all-electric driving experience. The brake pedal remains active for situations where greater braking power is required. When drivers really want to ramp up the excitement they can switch to untamed. This unleashes the full potential of the Mustang Mach-E, sharpening the steering, enhancing the throttle response and even giving the driver the feel of downshifting on deceleration. Matched to the performance is a boosted interior sound, sporty orange lighting, and dynamic sense lines on the driver display that reflect the acceleration and cornering forces being experienced. Prices for the Mach-E start at £40,270. ■

Timothy and Dennis Graham

TIMOTHY GRAHAM GRAHAMS BAKERY

How is business? The business environment is of course currently challenging. However, we’re moving forward positively and with conﬁdence. As a familyrun bakery I have really enjoyed seeing the company grow – from a small bakeshop in my grandmother’s home, delivering a small number of cakes, pastries and biscuits to the local town, to a thriving bakery offering more than 20 products. The company has expanded exponentially since it was established in 1956 and we have much to be proud of. How did you get started in the industry? It’s no secret that the business idea came from my granny May, when she added a few leftover buns she had made for church to the window of her sweet shop. Both my parents were from farming backgrounds, and working in a family business seemed more of a lifestyle, so when my three siblings and I were tall enough to stand on a bucket and sprinkle some icing sugar, we were ready to get started in the industry. Years later our products are made with the same love and care my grandmother put into them and we’re carrying on her legacy. Typically, who are your clients or customers? We work in the wholesale market with retailers

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Entrepreneur of the Month and food service operators and have just signed a £2.5m deal with Lidl Northern Ireland to supply a range of cakes and baked treats to 215 island-wide stores. This partnership with our fastest-growing supermarket means we can now share our family recipes with even more customers and expand our range, to include eight new products. Do you enjoy what you do, and what in particular? I love what I do and the challenges and opportunities it brings. I have some background in scientiﬁc research and have spent a lot of time working with my father, so I’ve been well equipped with a good process to identify and solve problems when they come my way – and I really enjoy that part of the business. What is the most difﬁcult part of your job? The food and drink industry is highly competitive, and the mature retail market in

the UK and Ireland is particularly value-driven. Hence the biggest difficulty at present is keeping on top of costs and passing increases on to our customers. More generally, it can be difficult to leave the ups and downs of a family business in the office and guard the rest of life from being unduly influenced by it. For me, this means remembering the importance of the good gifts of life and family outside the business, and prioritising regular time with my wife and three young children. What are the challenges facing your sector and the economy in general? Geopolitical events both at home and abroad have led to extreme volatility in supply and labour shortages as well as the more obvious rise in costs of ingredients and other consumables. Driving innovation and new business development while carefully managing costs is essential. Our customers, of course, will always come first.

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APPOINTMENTS

Jane Fyffe has been promoted to senior manager with Harbinson Mulholland. Working in the audit and accounts department, she has been with the firm since 2013 and is responsible for a wide range of clients. Eir evo has promoted Clair Gheel to business development director. She will be responsible for the roll out of network products across the eir evo portfolio to the company’s roster of corporate clients. Sam Best has joined telecommunications provider eir evo as business development manager. His role will support enterprise and public sector organisations to provide innovative solutions in driving value and improving productivity.

David McAteer has been promoted to senior manager with Harbinson Mulholland. Working in the audit and accounts department, he has been with the firm since 2013 and is responsible for a wide range of clients. Kevin Munster has been appointed as maintenance manager at Kilwaughter Minerals and will be responsible for the upkeep and daily running of all plant machinery. His responsibilities will also include the further enhancement of Kilwaughter’s preventive maintenance program. Jake Bainbridge has been appointed senior software consultant at WorkPal. Mr Bainbridge will support WorkPal’s drive to generate new business. He will identify opportunities and build relationships with prospective and current clients.

Baker Tilly Mooney Moore has announced Fintan Eastwood will join the company as human resources and organisational design consultant, bringing experience in HR with the National Bank of Australia. Belfast accountancy and advisory practice Baker Tilly Mooney Moore has appointed Ryan Connor as senior management consultant. His previous roles include positions at Coca-Cola and Springvale Employment & Learning College. Jonathan Campbell has been appointed to the role of campaigns and events manager at Northern Ireland Chamber of Commerce and Industry. He joins from Titanic Belfast, where he was previously business markets manager.

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APPOINTMENTS

Jim Montgomery has joined telecommunications company eir evo as business development lead for digital transformation, acting as the company’s customer-facing adviser for any business aiming to become a digital workplace. Richard Charles has been appointed IT services manager at Barclay Digital Services. He will look after the day-to-day operational control of the IT services team, driving growth in the IT customer base. Belfast-based IT recruitment firm, Enso, has appointed Christian Campbell as recruitment director. His appointment comes as the business experiences its busiest period ever and enjoys in its most successful year-to-date.

Richard Fraser has been appointed as a customer success manager at IRP Commerce. His main focus is to simplify the process of online selling and maximising merchants’ profits. David McLaughlin has joined leading telecommunications provider eir evo as the company’s business account manager. In his role he will manage client relationships, identify potential opportunities with both new and existing customers and promote the new eir evo offering. Telecommunications company eir evo has appointed David Beatty as business development lead for workplace solutions, which offers a range of digital communications platforms that support modern ways of working.

Telecommunications company eir evo has appointed Ben Johnston as inside sales account manager, focusing on the SME market for Northern Ireland and helping corporate customers with their digital transformation projects. Neale Wilson has been appointed as senior account and business development manager at Barclay Digital Services. He will manage the company’s top-end landline accounts and be the first point of contact for those clients’ needs. Richard Keys has been appointed as a partner with Hamilton Architects. His responsibilities will include supporting the continued expansion and growth of the business in Northern Ireland, London and the south east of England.

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PHOTOCALL

1. Hamilton Architects has marked its 50th Anniversary with a celebratory dinner at the Ulster Museum, one of its signature projects. Pictured are Paul Millar, Graeme Ogle, host Tina Campbell, Michelle Canning, Mark Haslett and Richard Key.

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2. Harbinson Mulholland has made five new internal promotions. Pictured are David McAteer, Claire Murray, James McCullough, Jane Fyffe and Chris Adams.

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3. Fintan Duffy, managing director of Re-Gen Robotics is pictured being presented the Outstanding Achievement Award at the Global Tank Storage Awards 2022 which took place in Rotterdam. He’s pictured with Margaret Dunn, editor of Tank Storage Magazine.

4. Ulster Bank has unveiled a new £50 note which features Dame Jocelyn Bell Burnell’s pulsar discovery and women working in NI’s burgeoning life sciences industry. She is pictured during a visit to Strathearn School in Belfast with Jess Ryan, Rosie Hardy and Rebekah Devlin.

5. Infrastructure Minister John O’Dowd (left) has visited Wrightbus where he had the opportunity to tour the factory and hear about the technologies used in delivering zero-emission buses. He’s pictured with Neil Collins, managing director of Wrightbus.

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7. Mary Nagele, chief executive of Arts & Business NI is pictured with Kwame Daniels, creative producer and Lee Cutler, Forestside centre manager launch the Arts & Business NI Awards 2022.

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6. Belfast has played host to The Harkin International Disability Employment Summit at ICC Belfast. Pictured are Christine McClements and daughter Lilia McClements, Rachael McGuickin, Visit Belfast, Julia Corkey, Senator Tom Harkin, Damien Coyle, Colum Boyle, Diane Hill, Michaela Hollywood and mum Marie Hollywood.

8. Communities Minister Deirdre Hargey, former Belfast Lord Mayor Michael Long, Gareth Johnston of Urban Villages and Annie Armstrong, manager, Colin Neighbourhood Partnership at the launch of the Colin Heritage Project.

9. The 2022 Northern Ireland Social Media Awards have been launched to help recognise the best individuals, businesses and campaigns in social media marketing. Pictured are Caroline O’Neill and Niamh Taylor at the launch.

10. Henderson Group sales and marketing director, Paddy Doody (centre) with Phil Alexander, Cancer Fund for Children (left) and Conor O’Kane, partnership manager at Marie Curie NI, celebrating the £160,000 raised by SPAR NI throughout its 60th anniversary year in 2021.

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PHOTOCALL 11. Co Down contractor Graham, in partnership with the Northern Ireland Ambulance Service, is urging businesses to register defibrillators onto the new UK-wide National Defibrillator Network. Pictured is Ryan Nelson, who is one of the few members of the public to have survived an out-ofhospital cardiac arrest with his wife Vivienne Nelson and Dr Darren Monaghan.

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12. Belfast-based McConnell’s Irish Whisky has launched a new website to help promote and tell the story of the brand which has its origins dating back almost 250 years. Pictured are Stephen McKechnie, John Kelly, Darragh Neely and Sarah Kennedy.

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13. Innovation City Belfast (ICB) has appointed a new digital innovation commissioner to drive forward its mission to develop the city as a globally significant destination for innovation. Eileen Montgomery (right) is pictured alongside Professor Ian Greer, vice-chancellor, Queen’s University, Belfast and ICB chair.

14. The Cancer Fund for Children has raised more than £170,000 after hosting its Daisy Gala Ball in the Culloden Estate and Spa in Holywood. Pictured are Phil Alexander, Cancer Fund for Children, ambassador Bernadette Hagans and long-term supporter Leslie Hughes OBE.

15. Architecture practice Gray Design has unveiled a new studio space located along The Mall in Newry. Pictured at the official opening are Colin D’Alton, guest speaker Adrian Logan, and Barry Gray.

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17. The Salthouse in Ballycastle is creating 30 new jobs over the coming year as it continues to expand as part of a £3.5m investment. Pictured are directors Carl McGarrity and Nigel McGarrity.

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16. Berts Jazz Bar has been awarded its first AA Rosette in recognition of culinary excellence after achieving an overall score of 94% across both dining and bar service, outdoor surroundings and public toilets during its inspection earlier this year. Pictured is general Manager Mark O’Neill along with his team.

18. A host of frontline managers in Northern Ireland’s manufacturing sector are going through a new programme at the The Centre for Competitiveness and the William J. Clinton Leadership Institute at Queen’s University. Pictured are Rachel Doherty, Denroy with Clare Loney of Denroy and William Ussher.

19. A new business turnaround and transformational private equity investment firm, RIADA Capital Partners, has entered the Northern Ireland marketplace. Pictured are Neil Adair and Gordon McElroy.

20. Belfast accountancy and advisory practice Baker Tilly Mooney Moore has announced two new appointments to its consulting department. Pictured are consulting partner Donal Laverty with new appointments Ryan Connor and Fintan Eastwood.

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21. Holywood-based insulation company Energystore has completed the second year of its tree planting initiative with the NI Forest Schools Association. Pictured are Jenny Thompson, Kayla Carson, Brian Poots, Charlie Shearer and Alex McCandless.

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22. Belfast-based Ridgeway, through its European distribution partners, has secured a contract with its first French client to use Kyowa filter units at Saint Nazaire offshore wind farm. Pictued is Stephen Kane, managing director of Ridgeway.

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23. Eurospar kicked off a summer of savings and fresh and local food, with a £7,000 giveaway for its shoppers, with the chance to win one of 70 £100 vouchers to spend in store. Pictured are Sarah Sweeney, Eurospar and VivoXtra assistant brand manager and Ciara Campbell, marketing assistant from Henderson Group.

24. ICC Belfast’s head of production, Dave Young, was announced as winner of the Best Event Technologist award during the Event Technology Awards – The People.

25. A new drinks experience has been launched in Belfast alongside Tourism NI. The Spirit Circle is operated by the award-winning company Taste & Tour and will showcase local spirits and drinks in the National Bank Buildings, above The National bar. Pictured are Caroline Wilson and Phil Ervine.

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27. M&S Food is partnering with the Irish FA and its football teams to use the power of football to help families make healthier eating choices as part of its ‘Eat Well, Play Well’ campaign. Pictured Nicola Finlay, Kirsty McGuinness, and Theo Lever.

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26. The NI Food and Craft Festival has returned this summer. The festival sees a series of events taking place in Antrim. It’s a combined effort from Antrim and Newtownabbey Borough Council, The Junction, Urban Events NI and Castle Mall. Pictured are Thomas Ferris, Pamela Minford and Chris Flynn.

28. Professional services giant Deloitte has appointed two new partners to its Belfast office. Marie Doyle becomes a partner in Deloitte’s Northern Ireland public sector practice, while Kerrie Irvine has been made a partner in the firm’s human capital consulting business in Belfast.

29. Belfast-based Barclay Communications has partnered with Avaya, giving its customers greater flexibility in their choice of business communications. Pictured are Britt Megahey, managing director of Barclay Communications and Avaya’s channel lead, Ciaran McNamara.

30. Danske Bank shared its experiences as a disability confident employer at The Harkin International Disability Employment Summit 2022, which took place in Belfast this summer. Pictured are Jenny Moore of Danske Bank, Ciara Brennan, Stepping Stones NI and Sean Hanna, NOW Group.

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31. Ten start-ups from Northern Ireland have each won £10,000 proof of concept grants to further develop their innovative ideas after successfully completing Catalyst’s Co-Founders Programme.

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32. Phil Alexander, chief executive of Cancer Fund for Children, Paddy Doody, sales and marketing director at Henderson Group and Conor O’Kane, senior partnership manager at Marie Curie NI celebrate the £18,000 raised from the Big Reds at Balmoral Show with Spar NI.

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33. The benefits of a city deal and its location on the Dublin to Belfast economic corridor leave the Newry, Mourne and Down (NMD) District poised for future decades of global economic growth, it’s been claimed. Pictured is council chair Michael Savage, chief executive Marie Ward and Finance Minister Conor Murphy.

34. Armagh City, Banbridge and Craigavon Borough Council Lord Mayor Glenn Barr (centre) is pictured with some of the young entrepreneurs who have benefited from the ABC Enterprise Support Programme.

35. Noel McGregor, fresh foods trading manager at Henderson Wholesale with Richard Orr of William Orr & Son’s, digging the first of the Comber Earlies.

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37. The planning system has a key role to play in facilitating Northern Ireland’s clean energy transition, an NI Chamber event with SONI has heard. Pictured are Tamasin Fraser, Gary McGhee, Steven Agnew, Kieran Donnelly, Natasha Sayee and Stuart Anderson.

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36. Staff from Northern Ireland’s six further education colleges have cycled 400 miles to raise funds for Air Ambulance NI. Pictured are Damien McAnespie, Air Ambulance NI and Grace Neville with members of the ‘Further Education 400’ team.

38. Belfast Whiskey Week has taken place, featuring more than 100 events spanning nine days in partnership with 14 venues. Pictured at the launch are Conor Owens, Belfast Hidden Tours, Sarah Kennedy, McConnell’s Irish Whisky and Paul Kane, Belfast Whiskey Week.

39. Kingsbridge Healthcare Group will be the latest tenant at King’s Hall Life Sciences at the former King’s Hall site in south Belfast. Pictured are Mark Regan of Kingsbridge Healthcare Group, and David Burrows, director at Benmore Octopus.

40. AXA has formally opened its new customer contact centre at Springtown Centre in Derry. Pictured are Marguerite Brosnan, AXA, George McKinney, Invest NI, Claudio Gienal, AXA, Mayor Sandra Duffy, and Philip Bradley AXA.

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41. John Mulholland Motors Skoda has won an award for its partnership with the Motability Car Scheme. The accolade is part of a programme of awards run by Motability Operations. Pictured is the Skoda team.

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42. Emerald Airlines, operator of Aer Lingus Regional, has expanded its services from Belfast City Airport, with new routes to Glasgow and Exeter. Pictured are head of commercial at Emerald Airlines, Ciarán Smith, and aviation development manager at Belfast City Airport (centre) with air crew.

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43. Catalyst has reveals a host of top innovative start-ups which have secured their place in the final of Invent 2022, for early-stage businesses and entrepreneurs. Pictured are Niall Devlin, head of business banking NI at Bank of Ireland UK and Elaine Smyth, director of innovation community at Catalyst.

44. Full-fibre broadband provider Fibrus has joined Business in the Community (BITC). Pictued are Colin Hutchinson, chief financial officer, Fibrus, Dr Lisa McIlvenna, deputy director, BITC, Amie McNeice, marketing director at Fibrus, and Andy Bate, lead environmental and sustainability senior specialist at Fibrus.

45. Bookmaker BoyleSports has been named as the sponsor of the Summer Festival of Racing at Down Royal Racecourse, which took place earlier this summer. Pictured are Leon Blanche, head of communications at BoyleSports and Emma Meehan, chief executive at Down Royal Racecourse.

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47. Home care firm Connected Health has launched a new online platform to allow customers to build a package of services and medical technologies to meet their needs. Pictured is Rachel Brammer, director of stakeholder engagement at Connected Health.

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46. AbbeyAutoline has completed the acquisition of family-owned brokerage, BMG Insurance. Pictured are Lesa Judge, Ciaran McGurgan and Brian McGurgan, BMG Insurance, Julie Gibbons, AbbeyAutoline managing director, Monica McGurgan, BMG Insurance, and Jackie Elliott, AbbeyAutoline.

48. Choice Housing is building 146 homes in Carrickfergus. The scheme is accessed off Minorca Drive. Pictured are Stephen Quinn, McGreevy Construction with Alastair McCaw, Choice Housing, Choice Group chief executive Michael McDonnell and Peter Byrne from MHS Architects.

49. Liberty IT has expanded and launched a new consultancy team aimed at helping the firm drive digital innovation for its parent company. Pictured are Jenny Winder, consultant and Sinead Shackley, director of evolve at Liberty IT.

50. The Junction Retail and Leisure Park has extended its outdoor and surf-wear offering with the relocation and expansion of longtime tenant, Mountain Warehouse adding a dedicated section for lifestyle and surf brand, Animal. Pictured are Chris Flynn and Leeanne Davidson.

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TRAVEL

Irishmancome-lately to a Canaries paradise Bypassing the ‘Paddywhackery’ strip, Hilary White and family are enthralled by Lanzarote’s natural beauty

y friend was incredulous. Whatever about he, a true Spaniard, never having vacationed in the Canaries, it was bafﬂing to him that an Irishman had lived to the ripe old age of 40 without ever setting foot on the perennially sun-kissed islands. I was, he pondered aloud, probably the only one of my countrymen who had never visited. Winter in Ireland had been hard, I reminded him, and had instilled in our young family a steely determination to escape before more heating oil had to be purchased to see out the last weeks of cold.

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We’d have a young traveller in tow, a fairly ﬂexible Montessori-goer who is up for anything provided there are animals and ice cream involved. A tenth of my age, my son would be off to a better start than Daddy-come-lately. Lanzarote is the ﬁrst island in the North African archipelago that you encounter due south from Dublin, and perhaps this has contributed to it being the Irishman’s favourite. There are some parts of Puerto Carmen, our nearest town, where it can appear that every third establishment carries “Oirish” imagery and promises of Caffrey’s and beef stew. We solemnly agree to avoid this strip of Paddywhackery like the plague and instead

seek out the real Lanzarote – the local heritage, the volcanic landscapes, the food and drink culture. Our base is the efﬁcient and always gracious Costa Sal resort. It situates us a stone’s throw from Playa Matagorda and perfect for a morning dip after a stroll along the extensive promenade. With the help of yours truly, Junior gets to reacquaint himself gingerly with chlorinated water and armbands after two years of pandemic pool closures back home. Herself, meanwhile, works on some colour and the new Sally Rooney novel.

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An extensive zoo and water park, it makes for a varied and colourful encounter early on in our week while we are finding our feet. At the northern tip of the island one day, we climb and climb to the Mirador del Rio. Some hero decreed that this panoramic cliff-top summit would have a bar and cafe integrated into its viewing area, all tastefully arranged and accommodating an outdoor terrace as well. The view is one that isn’t quickly forgotten. Below you, the cliff face plummets hundreds of metres down to surf-pawed beaches of dark sand, a crawling sea, and the island of Graciosa. Two towns are clearly visible, the ever-present whitewash of Spanish habitation breaking the yellows and browns. They sit at opposite ends of the island, and between them is divided Graciosa’s 700-odd population. A ferry links it to the town of Orzola over the headland but the seas look too choppy for Junior this time around. Maybe when he’s older we can go and see for ourselves. The real wonderment of this volcanic eruptionturned paradise island is when you leave the resorts and the tourist strip behind and enter into a landscape unlike anything we are used to in northern Europe, save perhaps Iceland.

Mirador del Rio

The small arena is calm and familial, with no raised voices or “merry” revellers, and for this we are grateful, given that we are unashamedly in family mode. When we’ve dried off and had a snack, a beachside playground provides another nearby option. What we find, however, is that the island itself is rife with places to go, meaning we fall into a routine of preceding these poolside afternoons with morning excursions around the island’s extraordinary natural splendour. As the name might suggest, Rancho Texas Park is something of an anomaly in this respect.

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At the Timanfaya National Park on the west coast, we drive slowly through a Martian-like terrain of crusts, rifts and shards. The only ostensible life are the bryophytes and mosses where sea mist has gained a foothold, and a pair of Barbary falcons quartering high in search of prey. A little further down the coast, we pull up at Los Hervideros, a particularly rugged stretch of volcanic coastline framed by dazzling turquoise waters. A walkway through this land of charred chocolate crumble means we can get up close to blowholes and crashing waves surging up through sea arches. Cannily wedding a cave system to a restaurant, underground amphitheatre, and manmade garden oasis is Los Jameos Del Agua. This astounding creation by homegrown artist César Manrique is the jewel in the island’s crown and perhaps the most novel lunch venue a

four-year-old Irish boy and his parents could wish for. After collection at Costa Sal’s reception, myself and two fellow underwater tourists are shuttled the short distance down the coast of Puerto Carmen to the gorgeous Playa Chica. We have a quick refresher course in the shallows where our guide Matteo takes us through safety procedures, then set off nice and gradually into the depths, through shoals of luminous shore fish, slouching groupers, hypnotic octopuses, and the silver flash of a large barracuda. Back on dry land, a short chat with Matteo reveals two facts that make him the perfect person to advise on matters culinary – he is Argentinian, and has lived on the island for more than a decade. Within minutes, I have a shortlist of what he promises is some of the best food on the island. Toro Grill Asador’s location beside a small roundabout might not seem enviable, but this traditional Iberian grillhouse is a must for carnivores young and old. With the sunset blushing the distant Lanzarote highlands, we feast on dry-aged meats cooked over Spanish oak charcoals, everything tender and salted to perfection. The best tapas, Matteo had assured me, is to be found in El Bocadito, a short drive north from Puerto Carmen in Costa Teguise. Platito after succulent platito arrives at our table – croquettas, marinaded fish, grilled meat, squid à la plancha, exquisite seafood risotto and gambas. A favourite of Spanish cinema giant Pedro Almodóvar, we would probably have eaten here every day had we known about it earlier in our week. It’s our second-last day and ‘himself’ is not happy. This is partly because he wasn’t brought on that morning’s diving excursion, something we remedy with a visit to a nearby aquarium. More problematic is that he is new to the concept of foreign holidays in sunny and splendid locations. It takes quite a bit of explaining to bring him around to the idea that the trip is over and that our flight home beckons. He is having none of it, greeting our argument with a jutting lower lip, folded arms, and a thunderous frown. Mummy and daddy aren’t much better, truth be told. ■

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TECHNOLOGY

pple may not have launched the ‘mixed reality’ smart glasses everyone is waiting for, but two new laptops and a slew of upgraded features for iPhones, Macs, iPads and Apple Watches were enough to keep the tech industry focused on the world’s biggest tech giants.

For Apple, the Worldwide Developers Conference (WWDC) was also the ﬁrst major in-person event held by the company in more than two years, with thousands of developers, industry executives and media descending on the Cupertino campus to mingle and engage in some hands-on demonstrations. While the biggest single point of interest was the newly redesigned, and newly pricey, MacBook Air, Apple also rolled out a number of notable software upgrades that will kick in over the coming months. The most eye-catching of these is a feature called Apple Pay Later, which will be restricted to the US for the time being. This will allow users to buy something using Apple Pay but split the payments over four interest-free instalments. If launched in Europe and other markets, it will bring Apple into competition with services such as Klarna. It also deepens Apple’s presence in ﬁnancial service adjacency, with hire-purchase schemes already in place for hardware upgrades. Other highlights of iOS 16 include new options for the lock screen, family photo sharing and the ability to edit or even to delete texts that are already sent in Messages. For this one, users will have 15 minutes to either edit or delete texts sent through Apple’s Messages app to others also using iOS 16. The feature won’t work for general SMS texting (to non-iPhones) or when one of the Apple devices isn’t using iOS 16. Editing sent messages and posts is a feature often requested of social media and messaging apps. While the likes of Gmail has allowed a version of this for a while (holding an email

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Apple launch: from Macs to OS updates Apple launches a raft of upgrades and two new laptops at its ﬁrst post-Covid developers conference, writes Adrian Weckler for 30 seconds to allow for a quick review and edit), Whatsapp has said it may soon introduce something similar. It includes an emergency reset that allows someone to sign out of iCloud on all their other devices, reset privacy permissions, and limit messaging to just the device in their hand.

able to pause a video on a frame and let their phone grab any text that’s visible. The Live Text feature will also now allow for the conversion of currency or text translations. A nifty feature called ‘Visual Look Up’ will let users tap and hold an image, lifting it out of its background to be draggable into apps such as Messages.

Meanwhile, a new iCloud Shared Photo Library will allow users to ﬁle photos to a family-access iCloud library for every participating family member to see. The photos can be ﬁled directly to the iCloud library at the time of the shot, or from their own Photos library.

CarPlay, meanwhile, is getting some upgrades. Chief of these is the ability to stream or provide content to multiple screens within a vehicle, possibly allowing for more harmonious staycation road trips among families.

Apple has also spent some time upgrading its live text capabilities. In iOS 16, users will be

Apple Maps is also getting some signiﬁcant upgrades, including the ability for up to 15

TECHNOLOGY Apple chief Tim Cook at the Worldwide Developers Conference

the frequency of abnormal heart rhythms, also known as atrial fibrillation (AFib), over an extended period of time. According to Apple, users who are diagnosed with AFib will be able to turn on the AFib History feature to access information that includes an estimate of how frequently a user’s heart rhythm shows signs of AFib. This is designed to give deeper insights into the AFib condition, according to Apple. Users will then also receive weekly notifications to understand the frequency better, as well as getting a detailed history in the Health app, including lifestyle factors that may influence AFib, like sleep, alcohol consumption, and exercise. Alongside this, Apple is adding a new app called Medications that aims to let people track what medicine or supplements they’re taking. The app, which will work with the Health app and will also be viewable on iPhones, will allow for schedules and reminders to be set. Apple insists all of this sensitive personal health data remains encrypted when on the device and when it’s being backed up to iCloud. Otherwise, the WatchOS 9 update includes a lot of new fitness features that should interest runners, swimmers and those who take workouts regularly.

stops to be included in multi-stop routing. Apple recently revealed that it is driving across most Irish counties to update some data in its Maps databases. And there are also some updates to parental controls, with Family Sharing making it slightly more streamlined to set up and control an account for a child. When a child asks for more screen time, a parent can control the request from within Messages. Apple’s iPads also got significant software updates, with more multitasking now available for those who want to use the tablets for work. Meanwhile, Apple will now make iPhones work automatically with Mac computers as webcams.

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As for availability, a public beta will be available to iOS users at beta.apple.com. But if you have an iPhone 7, iPhone 6 or older, you’re out of luck – the new iOS 16 features only apply to iPhone 8 models and newer. Meanwhile, Apple Watch owners will soon be able to store greater chunks of their medical history to help track heart conditions and update doctors, according to the latest updates to be applied to the Watch’s operating system in WatchOS 9. The new AFib History feature, initially available in the US but likely to be rolled out later in Europe, aims to build a medically useful profile of a person’s potential heart issues by tracking

However, the company had nothing to say about its most-anticipated new product – the ‘mixed reality’ smart glasses that are currently under development. The gadget is widely expected to be Apple’s next big thing, with hopes that it could match some of the company’s biggest inventions over the last two decades. Apple is expected to launch the device with several ready-to-go apps and services and is also expected to make it easy for other software firms to launch apps for its new system, in the same way it does for its iPhone App Store. It’s generally understood that the glasses will have an operating system, said to be called RealityOS, like an iPhone or an iPad. ■

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Uncovering the 9-5 NAME: Marie Farrell POSITION: Tax director, KPMG IrelandPMG

6am Normally, I get up with a plan of action. I have a home office space on the landing in our house in Rostrevor. As a tax director at KPMG, I will have already planned what I need to do the night before, albeit reviewing client work or catching up on emails. It’s focused (and quiet) time and I make the most of it until one of the kids – Conal, Anna or Rós – comes to get me, which is usually around 7.30am. From then, it’s about getting everybody breakfast and ready for school. 9am My husband (Jarlath, an accountant) and I take it in turns to do the school run. We take Rós to my parents-in-law’s house (Peter and Eileen), then leave Conal and Anna to primary and pre-school. On a good morning, I park in the village and walk the short distance up the hill to Conal’s school, with Anna, and drop him off. Then the two of us walk down ‘the secret path’ short cut to her school, beside Rostrevor’s infamous, Fairy Glen. I’ll return home around 9am when I’m not based in the Belfast office and get straight back to work. I work with clients are across many sectors, including aviation, investment management and manufacturing, and with indigenous and multi-national companies. 10am In 2013, we built a house on my daddy’s farm. It’s been a tough year for him, but a couple of surgeries later and thanks his great attitude, he is doing really well now. Daddy (Raphael

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or ‘Raf’) calls in with me most mornings for a quick catch up over coffee, after which he heads up the fields to check his cattle and I get back to work. Then it’s a solid three hours of calls with clients and checking in with ongoing work with foreign offices. The work range is vast, from routine corporate tax compliance and ensuring clients submit their tax returns on time to advising on large and complex advisory projects, including company restructuring and M&A deals. I also catch up with members of my team and on client work streams where deadlines are approaching. 1pm I rarely take a lunch break but I try to get out for a 5K run over lunch. Occasionally, I do it after I drop the kids off, if I have a lunchtime call, but I like to leave it to lunch time to clear my head and prepare for a busy afternoon. Then, I quickly eat something at my desk while responding to emails, writing memos, and ticking things off my to-do list. 3pm I make a point of calling someone in the team during afternoon coffee at my desk around

3.30pm. Then I check the inbox, review new emails and finish off whatever needs to be completed that day. I work until the kids arrive home. However, every other Wednesday I finish around 4.45pm to take Conal to gymnastics class. 6pm Jarlath usually picks up the kids on the way home. They arrive around 6.15pm and it’s pens down. The kids will have been fed so I’ll make something for Jarlath and I – scrambled eggs, pasta, or something granny or nanny has cooked. I’ll then sit down with Conal to check his homework. As a member of Newry Chamber of Commerce and some local committees, I sometimes have a meeting or event in the evening. Otherwise, we’ve got two gaelic football nets in the back garden and the five of us will mess around after dinner if the weather’s good. My mum (Anna) comes up to see the kids most evenings. I put Rós to bed around 7.30pm. The other two stay outside with Jarlath before bed by 8.15pm. I’ll take a quick look at emails. Jarlath and I will watch an episode of whatever Netflix or Sky series we’re watching, have a cup of tea and a catch up before my bedtime at 10.30pm.