Ulster Business - August 2015 (The Top 100) by Ulster Business

AUGUST 2015 Price £2.30 (€3.75)

THE TOP 100 NORTHERN IRELAND COMPANIES 2015 REVEALED

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ISSN 1363-2507

9 771363 250005

Contents 10 News

44 The list

160 Business Breakfast

Economic updates, job news and company investments

We count down the Top 100 companies in the list

Fujitsu boss Greg McDaid sits down with the editor for a spot of breakfast

24 Taking Stock

52 Profiles

166 Motoring

Your trusty traders reveal their stock market prowess

A behind-the-scenes look at some of the biggest companies on the list

Flat-to-the-mat Pat Burns brings you the latest in executive motoring

30 Meade says yes

68 Employers

176 Appointments

The mentalist reveals how to get customers to bite your hand off

The ranking of the Top 50 employers in Northern Ireland

Who’s moving where and when? You’ll find out here, now

38 The 100 recipe

104 Sector talk

186 Events

D&B’s Jonathan Cushley analyses this year’s Top 100 companies

Our experts analyse each of the sectors in the Northern Ireland economy

Were you out and about over the summer? It might just be you here

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160

144 52

104

LOOKING TO THE FUTURE BASED ON SUCCESS A&L Goodbody is one of the leading law firms across the island of Ireland. The Firm provides clients and advisors with the highest quality legal service through award-winning innovation and market leadership. We look forward to playing our part in the future growth of Northern Irelandâ&#x20AC;&#x2122;s Top 100 companies. To find out how the A&L Goodbody team can assist your business, please contact: Mark Thompson, Head of Belfast Office, A&L Goodbody 42/46 Fountain Street, Belfast BT1 5EF E: mthompson@algoodbody.com T: +44 28 9031 4466

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EDITOR’S COMMENT

The Top 100 steam ahead through choppy waters

elcome to this very special bumper edition of Ulster Business. In this issue we present the most comprehensive list of the biggest companies in Northern Ireland to help shine a light on those firms making the biggest contribution to the economy here. From food processers to construction companies, from software firms to supermarkets, there is a veritable cornucopia of industries represented on the list which reflect the rich and diverse business world in which we all operate. Once again the Top 100 as a whole has managed to grow both turnover and profits in the most recent accounts, a reflection of the recovery in the wider economy which has been in motion over the last few years.

Those firms with higher turnover will be spending more locally, will be employing more people in the locality and will have a much greater multiplier effect than those reporting giant profits. And if that weren’t enough, we also give you a separate listing of the top 50 employers to highlight which businesses are leading the headcount race. In addition, we have taken the time to interview and profile some of the lesser-known names in both lists, a process which was immensely interesting and one which offers an insight into some of the names which might not crave the limelight but which are essential in keeping the economy here running.

It’s true there are still significant challenges for companies large and small but the figures in this issue portray an economy making headway.

Enjoy the magazine and thanks you for making reporting on the Northern Ireland economy so interesting.

While it’s true that from an individual company

David Elliott

Publisher Greer Publications 5b Edgewater Business Park Belfast Harbour Estate, Belfast BT3 9JQ www.ulsterbusiness.com Tel: 028 9078 3200

Editor David Elliott

Art Editor Stuart Gray

Manager Sonia Armstrong

Production Manager Stuart Gray

Printer W&G Baird Greystone Press, Caulside Drive, Antrim BT41 2RS www.wgbaird.com

Deputy Manager Sylvie Brando

Cover Design Chris Black

Greer Publications © 2015. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form, or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior permission of Greer Publications.

AUGUST 2015

point of view profit is key, we have continued to use turnover as our main ranking criteria as we felt it gives a better indication of the impact businesses are having on the wider economy.

Sales Executive Susan Simpson

Free to download. Free to read. ulsterbusiness/app 7

SPONSOR’S FOREWORD

Continued success for the Top 100

By Adrian Doran, Barclays Head of Corporate Banking in Northern Ireland

significantly improved profitability, while McAleer & Rushe’s most recent accounts confirm a return to profitability. The improvement in the construction sector has also seen some of the leading materials suppliers see large increases in turnover – for instance FP McCann and Creagh Concrete both recording highly impressive 50% year-on-year growth. Another sector worth commenting on is the energy sector – Lissan Coal Company posted profits of £19m in 2014 (up from £14m in 2013) despite turnover falling, presumably due to the recent significant drop in crude oil prices. A similar trend can be seen in DCC Energy, Nicholl Fuels and Topaz. Energy companies such as Power NI, SSE Airtricity, and Viridian Energy Supply Ltd all showed impressive increases in profitability.

his year’s Ulster Business Top 100 highlights significant growth for many of Northern Ireland’s largest companies. Whilst analysis is somewhat distorted due to differing accounting year-ends and a cut-off date for accounts filed before 30th June 2015, some important trends are coming through. Headline profits for the Top 100 have increased over the year by an impressive 15%, with some significant individual and sector driven performances. The number one position once again belongs to Moy Park, which has continued its impressive expansion of recent years – turnover grew by 10% to £1.2bn, while profits increased by 38% to £34m. Several other of our local agri-food companies also produced strong performances – Dunbia recorded turnover of £764m (5.2% growth), Foyle Foods grew turnover to nearly £300m (15% growth), and local co-operatives such as Fane Valley, United Diary Farmers, and Ballyrashane all posted good growth. It is worth pointing out that these figures largely relate to 2013/14 trading, and we know that the last 12-18 months have seen significantly tougher trading conditions, particularly in the diary and red meat sectors, so we should expect some tail-off in performance in next year’s Top 100 list. Another notable performance came from our local construction sector. John Graham Holdings Ltd grew turnover by 17% to £490m in the year ended March 2015 (after 30% growth in 2014), while McLaughlin & Harvey’s turnover increased by 24% to £195m. Latest accounts for Lagan Construction Group Holdings Ltd and Ards Holdings (Gilbert Ash) also show

AUGUST 2015

In the equivalent article last year, I highlighted improved export markets as being a major reason for increased performance of many of our Top 100 companies – this trend has continued this year (despite a more challenging foreign currency environment), with names like Schrader Electronics, Randox, SDC, Westland, and Devenish Nutrition all producing tremendous growth. The death of manufacturing companies in Northern Ireland has clearly been exaggerated! As well as continued growth in our main export markets, this year we can also point to an improved domestic economy, as seen in the results of car retailers – Donnelly Bros Garages increased turnover by over 50% and Charles Hurst and Isaac Agnew both had double digit-increases. New car sales are widely considered one of the best barometers of consumer confidence, and if this is the case, these numbers bode well for the Northern Ireland economy. Finally, a word on a company that narrowly missed out on a place in this year’s Ulster Business Top 100 companies – however they’ll not be too disappointed. Congratulations to Kainos on their hugely successful IPO on the main London market, becoming only Northern Ireland’s 3rd listed company. With a market cap of over £200m, Kainos is an incredible Northern Ireland success story, and will hopefully lead the way for other local companies to follow. Both Kainos and Andor Technologies were both spin-outs from Queen’s University, highlighting the important role that our local universities play in planting the seeds that become tomorrow’s Top 100 companies. With an improving global economy driving export growth, and a more confident domestic consumer, hopefully the scene is set for another year of growth for our Top 100 companies.

NEWS

A feast for agri-food as sector grows industries which account for half of total output from agri-food processing. The largest customer for food and drink from these shores remains Great Britain, where £1,941m (43%) worth of products head on an annual basis, while the Republic is the second biggest export destination, accounting for 16% of total sales or £705m. And the sector remains a major employer here with nearly 22,000 full-time employee equivalents working in the industry, a 2% jump on the previous year. The data backs up the trends witnessed in the latest Top 100 Northern Ireland Companies published in this magazine. Proving the growth of the agri-food sector, Moy Park has taken the top spot in the Ulster Business Northern Ireland Top 100 Companies list published in this magazine. Pictured are Ulster Business publisher James Greer, Moy Park chief executive Janet McCollum and Ulster Business editor David Elliott.

orthern Ireland’s food and drink processors are going from strength-to-strength, according to the latest government report.

of Agriculture and Rural Development (DARD), and is estimated to be worth nearly £4,800m, just under 4% of Northern Ireland’s total economic output.

The sector grew by nearly 6% in 2014, according to a report by the Department

By far the biggest contributors to that total is the red meat and dairy

It showed chicken processor Moy Park remains the biggest company by turnover here and that four of the top ten companies operate in agri-food. However, figures for the food and drink sector in 2015 are expected to be impacted by the recent drop in milk prices, one which has hit producers hard.

Confidence knocked by austerity worries

he potential for further public sector austerity is thought to have dented confidence amongst consumers in Northern Ireland, according to a new report from Danske Bank. Its Consumer Confidence Index showed that households here weren’t as confident about their financial position in the year ahead in the second quarter of the year. It comes after a strong rebound in the first quarter and is the result of worries over the wider economy, according to Danske Bank’s Chief Economist Angela McGowan. “The outcome of the UK election and its ramifications for further austerity over the next five years could be reflected in this recent survey,” she said. “In addition, the £600m black hole in Northern Ireland’s

budget combined with fines from Treasury and the negative consequences of these for local public services may be starting to impact on local confidence levels.” And she said time will tell if the second quarter fall is a blip or a sign of things to come. “It remains to be seen if this is a one off blip in the index because of the UK election or the beginning of a downward trend for the region because of local public spending constraints. With clear signs of growth in the local economy there is a fair chance that the index will pick up again. Indeed, we have recently seen confidence levels in the UK falling just after the general election only to bounce back to a 15 year high the following month.”

Angela McGowan.

NEWS

Newtownards firm scoops award

local engineering firm has secured major funding under a UK-wide aerospace initiative, to carry out focused research and development into innovative aircraft components of the future. CCP Gransden, based in Newtownards, has been offered nearly £100,000, under the National Aerospace Technology Exploitation Programme (NATEP), through Invest Northern Ireland’s Grant for R&D, which is part funded by the European Regional Development Fund. NATEP is designed specifically to encourage SMEs to develop new technologies, and help them win new business. NATEP is one of the initiatives to come out of the Aerospace Growth Partnership, a joint Government and Industry alliance, with over 100 new product and manufacturing technologies being created in the supply chain all over the UK due to NATEP funding.

Celebrating the award are, clockwise from top: Dr Leslie Orr, ADS, Dr Scott King, NIACE Centre, Gavin Campbell, Bombardier Aerospace, Jim Erskine, CCP Gransden, Kevin McCann, Invest NI and Robert McConnell, CCP Gransden.

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AUGUST 2015

NEWS

The Big Numbers 1.1% Growth in the Northern Ireland economy in the first quarter of the year compared to the previous three months, according to NI Composite Economic Index produced by DETI.

Banks recovery continues customers after a long spell of relatively subdued demand and the continued acquisition of new to bank customers. Meanwhile, Ulster Bank said it made operating profit of £131m for the first half, up from £55m last year.”

0.4%

Ulster Bank also extended its operating profit for the first half across the island of

GDP growth in the UK economy in the first quarter of 2015 compared to the previous three months, according to the Office of National Statistics.

Ireland to £131m from £55m last year. Ulster Bank Chief Executive Jim Brown welcomed the improvement but said the weak euro is acting as a drag.

44,000

“(The) results show continued progress and a strong capital and funding position for Ulster Bank as it supports the economic recovery across the island of Ireland.

The number of people claiming unemployment benefit in Northern Ireland in June, up 200 on the month but down 10,400 over the year. Gerry Mallon, Danske Bank.

6.2% The unemployment rate in Northern Ireland.

5.6% The unemployment rate in the UK as a whole.

wo sets of bank results last month revealed a continuation of the return to profit for two of the biggest lending institutions in Northern Ireland. Danske Bank reported preftax profits for its Northern Ireland arm of £65m in the first half of 2015, a jump from £37.4m in the same period last year. It put the improvement down to better revenue performance, ongoing cost control and impairment recoveries.

24.7% The percentage of economically inactive (people who are neither in employment nor unemployed) in Northern Ireland, up 0.6% over the quarter and still the highest of all UK regions.

Danske Bank UK CEO Gerry Mallon said there was also a thirst to borrow. “The first half of the year has been a particularly strong one for Business Banking,” he said. “We have already provided more new lending to business customers in 2015 than we did in the whole of 2014. “This is down to an encouraging increase in demand for lending from our existing

“While today’s results were impacted by a weakened euro, we see an increased profit, reduced operating expenses and a continued trend of impairment releases driven by proactive debt management and the improving economic conditions.” Jim Brown, Ulster Bank.

NEWS

Launch of biggest ever TechXplore event

ow in its third year, the biggest ever TechXplore event was launched last month and sees an unparalleled list of speakers from the US, UK and Ireland gather in Belfast on 3rd September for the digital technology event. Set to ‘tech’ Belfast forward, TechXplore offers those attending unlimited access to global experts in digital start-ups, music tech, media tech, health tech and a range of investors. Bespoke workshops with global experts will also be available to limited numbers of attendees. The day will be rounded off by Northern Ireland’s first ever dedicated TechCabaret full of comedy, tweets and quizzes for geeks. TechXplore organiser Carl Whyte, MW Advocate, is joined at the launch by event partners, Kathryn Walls from Mills Selig, and Edel Mullan from Belfast City Council.

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NEWS

Quotes of the month

NI business tax benefits pique Republic attention

“Offices are top of the sector list for local, national and foreign investors who are attracted by the high yields and affordable rents in Belfast. However, prolonged Stormont Executive issues to allow a corporation tax cut are turning investors off the idea of NI.” Brian Lavery, managing director, CBRE Belfast.

“The Government will not finance a more generous welfare system in Northern Ireland than in the rest of the UK. Those parties currently blocking welfare reform are simply putting more strain on the Executive’s finances with the inevitable consequences that will have for frontline public services.” Secretary of State Theresa Villiers shoots from the hip on a trip to Washington.

“Growth in the first three months of 2015 (in Northern Ireland) was 1.1% – almost four times the UK first quarter GDP growth of 0.4%. A level of growth so much above the UK should be regarded with caution as it may have been artificially accelerated by some very rapid expansion in the construction sector. However, as at the first quarter of 2015, Northern Ireland’s aggregate output was still 8% down on its pre-banking crisis peak in Q2 2007; while by comparison UK GDP is now 4.5% above that level. That gives some idea of the ground that has to be made up in this region to match the pace of recovery elsewhere in the UK.” PwC economist Dr Esmond Birnie puts it into persective.

Ibec Head of Policy and Chief Economist Fergal O’Brien.

he business tax benefits which Northern Ireland can offer are drawing envious glances from an unlikely source – the Republic. The Irish Business and Employers Confederation (Ibec) – the group which represents Irish business – has warned the UK is fast becoming a more attractive investment location to the Republic’s detriment. It follows the Chancellor’s announcement in his emergency budget of a cut in UK corporation tax to 18% by 2020, a fall from the current level of 20% and a continued narrowing of the gap to the Republic’s enviable 12.5% business tax rate. Ibec Head of Policy and Chief Economist Fergal O’Brien said the UK has a potent offering to potential investors when the tax rate is combined with tax reliefs for innovative companies. “A cut to the UK corporate tax rate, along with recent innovation tax incentives, mean the UK now has one of the most attractive tax offerings in Europe,” he said. “In contrast, Ireland’s attractiveness was significantly eroded during the crisis, particularly due to higher taxes on work.” And Northern Ireland’s competitiveness could be improved still more if plans to devolve corporation tax setting powers get the go-ahead, a move which would allow Stormont to cut the business tax here further.

The successful lobbying for the devolved power was initially a way of eventually lowering corporation tax in Northern Ireland to 12.5% but, following George Osborne’s cut to the UK-wide rate, there have been calls for a further cut to 10%. That will make Northern Ireland’s tax rate much more attractive to investors and could be affordable because it will cost less from the Westminster block grant, according to Northern Ireland Chamber of Commerce head Ann McGregor. “Cutting the UK Corporation Tax rate to 18% by 2020 will cut the cost to the Northern Ireland Block Grant as Northern Ireland looks to implement its own rate of 12.5%. Although this is welcomed, Northern Ireland could now consider implementing an even lower rate (for example 10%), which would put Northern Ireland at a competitive advantage over the Republic of Ireland.” But the Republic’s willingness to offer a tax friendly environment to business hasn’t been diminished and it’s not ignorant of the competitive threat Northern Ireland poses, nor of what it has to do to remain in contention. “We need to improve our tax offering if we are to attract the next wave of investment,” Ibec’s Fergal O’Brien said. “We need to make it more attractive to start up a new business and we need to cut our personal income taxes to attract and retain the best talent.”

NEWS

Top Northern Ireland law firm John McKee Solicitors make new appointments

ohn McKee Solicitors has appointed Chris Ross as its new Managing Partner and Angus Creed as its new Chairman. Both have undertaken their new roles with immediate effect. Chris Ross joined John McKee Solicitors in 1998 and became a partner in the firm in 2003. Chris acts for a number of large commercial clients in the construction, transport, finance and insurance industries. Chris is a former Chairman of the Belfast Solicitors’ Association. Commenting on his appointment as Managing Partner, Chris said: “It is a huge honour to be appointed Managing Partner of this firm. I am looking forward to working with Angus and all of the John McKee team to help build and develop our business. We will work hard to strengthen John McKee’s position as one of Northern Ireland’s leading commercial law firms and we have big plans for the future.” Angus joined John McKee Solicitors in June 2012 having previously been Managing Partner and Chairman at another large Belfast firm. Angus practices in a wide range of corporate, commercial and financial services work. Angus added: “I’m delighted and excited to take on this new role and challenge. Managing the firm through

Angus Creed, right, and John McKee.

the current challenges facing the legal sector and all the change that is happening in the wider legal industry, with Chris at the helm as Managing Partner, I plan to start by building on the good work carried out to date. A big part of John McKee’s future strategy will be based around structured growth. We have a great team here, with a great knowledge base and experience to help us grow our business.”

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AUGUST 2015

NEWS

Randox creates 30 posts with R&D arm

n Antrim company has created 30 new jobs in its new research and development department. The posts at clinical diagnostics company Randox will be based in its new Randox Biosciences division. It is focused on discovery, drug development and companion diagnostics and is the result of the merger and expansion of four existing business units; Life Sciences, Pharma Sciences, Research and Molecular. Around 15 of the roles have already been filled and a further 15 will join the team of 300 scientists and engineers in the division which supplies products and services to universities, genetics labs and the pharmaceutical industry across the globe. Patrick Henry, Head of Randox Biosciences, said export will be a key target. “Our focus is on targeting the thriving personalised medicine market which at its heart relies on ‘precision medicine’ enabling technology and tests to tailor healthcare solutions to the right patients at the right time,” he said. “Led by our dedicated research scientists, we offer advanced products, for use in academic research enabling new scientific discoveries and in pharma companies for their drug development and clinical trials. Randox MD, Dr Peter FitzGerald said innovation is key to the business.

Patrick Henry, Head of Randox Biosciences, with Dr Rachana Thapliyal of Randox Biosciences.

“Research and development is fundamental to the creation of new products and we recognise its importance. In 2014-15 we invested £15m into R&D, our most significant spend on this core function to date. This investment has allowed us to establish the Randox Biosciences division, which will act as a road map for our R&D, taking our tests and technology to new markets across the world.

Belfast call centre to take on 140 new staff

north Belfast call centre is taking on 140 staff after winning new business from an existing client. US-owned Teletech, based on Duncairn Gardens, wouldn’t reveal the name of the customer but said the Belfast

office will help service its business in tandem with its offices around the world. “The expansion is for an existent (sic) client, but new to our Belfast location,” a spokesperson told Ulster Business. “We currently support this client from other US and Philippines sites.” The move follows the company’s decision to cut nearly 200 jobs at the Belfast site in March 2014 after losing a contract to supply customer support services for car maker Nissan. It is now looking for “dynamic customer experience representatives” and will pay £7 an hour. “These positions are great for people with customer service experience and those looking to start a career with TeleTech, as they involve working with a globally-recognised Telecommunications client,” the firm said in a release. It first set up a base in Northern Ireland in February 2001 and is thought to employ around 400 people at present.

NEWS

Grant Thornton NI opens Forensic and Investigative Services Unit

ith data and its storage increasingly becoming a valuable commodity and with the cost of cybercrime to Northern Irish businesses soaring, the business advisory firm Grant Thornton NI has opened a Forensics and Investigation Services Unit in its Belfast office. The range of services offered by the new unit will help firms identify breaches and investigate them effectively. Itâ&#x20AC;&#x2122;s the latest expansion at Grant Thornton in Belfast which is experiencing significant growth. At the launch in the Crumlin Road Gaol are Richard Gillan, Managing Partner, Grant Thornton NI, Mike Harris, Partner, Cyber Security Services, Grant Thornton NI, and Paul Jacobs, Partner, Head of Forensics, Grant Thornton NI.

AUGUST 2015

NEWS

Resurgent Northern Ireland hotel sector’s celebration marred by weak euro

orthern Ireland’s hotel sector is putting in a strong performance but the weak euro is making life difficult for hostelries close to the border.

Michael Williamson, Director of Consulting, ASM Chartered Accountants is pictured with Bill Wolsey, owner, The Beannchor Group.

Those are the findings of the latest report from ASM Chartered Accountants which revealed that overall demand for hotel bedrooms here increased in 2014 as a result of a resurgent market in Belfast. The city accounts for 40% of Northern Ireland’s “room stock”, according to Michael Williamson, Director of Consulting at ASM Chartered Accountants. “We are witnessing the emergence of a two-speed hotel sector in Northern Ireland,” he said. “The Belfast market continues to perform at a very high level and to grow, while hotels located elsewhere are finding trading conditions a little more difficult than has been the case over the past few years.” He said the weaker euro is making life difficult for hotels close to the border when it comes to attracting custom from the Republic. A weak euro makes coming to stay in Northern Ireland more expensive for people from euro-denominated regions who have to pay up for sterling-priced rooms.

Overall, the average bedroom occupancy rate in Northern Ireland’s hotels increased to 76.0%, as against 74.8% in 2013, ASM’s Annual Hotel Industry Survey showed. It pegged the average room rate at £70.78, a 4% increase on the £68.17 recorded in the previous year.

Bangor plastics company creates 32 jobs materials handling and construction. It’s also a subsidiary of Denroy Group which owns the Denman International hair-care range. In total the new posts, which will be filled between now and 2017, will contribute nearly £600,000 in salaries, a figure which works out at an average salary of £18,750.

Pictured with Enterprise, Trade and Investment Minister Jonathan Bell at the Denroy Plastics’ premises at Balloo Industrial Estate is John Rainey, Chairman of Denroy Group.

Bangor company has created 32 new jobs as part of a £3m expansion programme. Denroy Plastics plans to grow its production capacity to meet growing demand from the aerospace industry and, as well as the new posts, will be expanding its premises and purchasing new equipment. It designs and manufactures injection moulded plastic products and components for the sector, as well as for customers involved in

John Rainey, Denroy’s Managing Director, said the company’s attention is focused on the air. “The aerospace sector is an important market for us and we are enjoying increased success in winning new business evidenced recently by our multi-million pound deal with Triumph Aerostructures based in Texas. We want to remain at the forefront of polymer processing and this investment will enable us to develop our R&D capability and test laboratory to support our development activities.” And he said the latest investment is testament to the firm’s Bangor base. “This investment demonstrates our long-term commitment to Bangor and to creating further employment opportunities for local people. Invest NI support with this endeavour allows us to remain competitive and boost our productivity, employment and turnover.”

NEWS

Wake up to Breakfast Bytes

What is Captive Insurance? By Tracey Carson, Client Director, Willis Insurance & Wealth Management

enerally speaking, a Captive is formalised self-insurance. A Captive is an insurance company which

is wholly owned and controlled by its insureds. Its primary purpose is to insure the risks of its owner. It provides a unique opportunity for business owners to have a much greater voice in their insurance and risk management programme.

lster Business Magazine has joined forces with Belfast technology agency i3Digital to host a series of six digital Breakfast Bytes seminars in i3 Digital’s Belfast headquarters on the first Friday of each month in 2015. The aim of each gathering is to discuss the digital pain points faced by all types of Northern Irish businesses, as well as the lessons, cures, ideas and solutions available to make the digital landscape as manageable as possible. i3 Digital’s Marketing Manager, Mark Lyness, believes the six free events are of true value to delegates. “As an organisation that liaises with companies on a daily basis to discuss digital issues and solutions, we know just how daunting the online and digital world can seem, he said. “It is without doubt the most changeable and evolving sector in existence, and coupled with how absolutely vital it is to get right, companies of all sizes have natural concerns, issues, questions and ideas.” “Our Breakfast Bytes seminars exist to discuss digital issues and remedies that companies can use to better themselves, and the beauty is that most organisations aren’t aware of a lot of the processes that are easily available to them.

Most companies self-insure to some extent; whether that is taking excesses on their commercial policies or wholly accepting some risks on their balance sheets and leaving them uninsured. In managing a self-insurance programme, the most important factor is assuming the right level of risk. For some businesses, this might be as low as £5,000, for multinationals it might be £500,000 – the key is to strike the optimum balance. Reasons for Considering a Captive Historically, this option was only available to large organisations. Captives now represent a viable option for companies of all sizes due to changes in tax, regulatory and market conditions. Increased Cover, Capacity and Underwriting Flexibility • Cover for risks that are unavailable or expensive in the commercial market. • Potential for direct access to the reinsurance market. Control of Insurance Costs/Pricing Stability • Smooth insurance prices over time and achieve a more reasonable insurance rate and premium. • Premium based on own experience, not your industry peers. Underwriting Profit and Investment Income • Generally for every £100 of premium only £65 is available to pay claims and therefore by reducing the amount of insurance purchased the greater proportion of expenses and profit that is retained by the client. Improved Claims Handling and Control • A captive is also free to establish its own claims handling policies and procedures. This has obvious advantages such as the reduction of the time taken to process and pay claims. Tax Benefits • Ability to set aside separate fund for risks in a more tax efficient vehicle. • Controlled Foreign Company Legislation allows for £500,000 profit without Corporation Tax.

“In the first two seminars, it’s been clear that delegates have valued the sense of openness, honesty, and laid back atmosphere, and any so-called “presentations” rapidly turn into open and frank discussions, where we learn as much as the guests.” Companies and organisations from across the country and sector spectrum have attended the first two Breakfast Byte seminars, and many more are expected to follow.

AUGUST 2015

If the information above fits your business needs and your insurance premiums are £250,000 or above, contact Tracey Carson at Willis IRM on 028 9089 1962 or traceyc@willisinsurance.co.uk

NEWS

Belfast Grand Central Hotel unveiled

Pictured are Chairman Sir William Hastings with his children and company directors Howard Hastings, Aileen Martin, Allyson McKimm and Julie Hastings.

astings Hotel Group has said its new Belfast city centre hotel will create 150 new jobs and operate at the “upper end” of the four-star market.

The group unveiled its plans for Belfast Grand Central Hotel at the planned site at Windsor House on Bedford Street, one of the tallest buildings on the island of Ireland. At £30m, the project is the single biggest investment in the company’s history, according to Sir William Hastings, Chairman of Hastings Hotels, and will also house a restaurant and bar, 18 serviced apartments and a range of offices. “This project is a huge undertaking for Hastings Hotels and it is has only been made possible by the strength of our existing hotels portfolio and the quality of our staff and management,” he said. “It will bring the number of bedrooms in our group to over 1,000 making us the largest privately-owned hotel chain on the island of Ireland.” Hastings also owns The Europa Hotel, the Culloden Hotel, The Ballygally Castle Hotel and the Slieve Donard. The name for the new hotel is a nod to the original Grand Central which previously operated from Royal Avenue in the city and hosted the likes of Winston Churchill, the King of Belgium and The Beatles, before closing down in 1972. The new Grand Central’s branding includes the seashorse, one which was printed on the menus and plates of the original.

Enterprise, Trade and Investment Minister Jonathan Bell welcomed the new hotel. “I have been very impressed by Hastings Hotels vision for its new city centre hotel. This is great news for Belfast and for Northern Ireland, as the group’s continued investment is a massive vote of confidence in our tourism sector. The new hotel will add considerably to the local accommodation offering and allow Northern Ireland to capitalise further on the growing international business conference market.” WDR & RT Taggart Architects in Belfast have been assigned to design the new building while the hotel group awaits planning approval.

Corporate Banking

FANTASY TRADING

Taking stock Trading volume in stock markets around the world has been noticeably down for the last few months as Ulster Business’s trusted trading team took to the side lines of their Monaco tax havens. But fear not, they’re back. While they were away sunning themselves the Greek economy was on the verge of collapse, the Chinese government had to intervene to prevent the region’s stock market from imploding and the UK Chancellor laid out plans for another wave of austerity. Those factors, and other fundamentals, have taken their toll on the UB team’s portfolio, most noticeably for mentalist Meade who bore the brunt for an expected withering in demand for base metals from China through his Glencore pick. He lost a fairly substantial £17,000 but

was saved to some extent by an £8,000 gain for energy giant Centrica which has no doubt warmed the cockles somewhat. Even the leader of the pack, Gains Gibson, lost a cool £14,000 on Prudential but managed to pull some of that back with a £10,000 profit on cruise operator Carnival. Young Enterpriser Carol Fitzsimons saw the barometer fall slightly more to her side with a £2,000 overall profit funded by Carnival & B&Q owner Kingfisher. But it was our resident underage trader who made the most impressive move, extending his lead in second place with a tidy win with mobile operator Vodafone. By the look of it Dylan’s been reading up on this trading lark and if he carries on in this vein there’s every chance

Professor Gibson will be coming under a bit of pressure at the top of the table. For now though we have a traditionally quiet period coming up in the trading calendar but that won’t stop this intrepid bunch of money makers from sounding out a few opportunities.

The rules Each trader starts with fantasy money – £100,000 of it to be exact – to invest as they see fit in two FTSE 100 companies, £50,000 each. After a month we count up what will hopefully be winnings and the traders either stick with what they’ve got or exchange them for new shares. At the end of the year we count up who’s made the most and force them to buy the team and the editor dinner. Simple.

The traders Dylan Armstrong (6) student

CAROL FITZSIMONS, CHIEF EXECUTIVE

DAVID MEADE, MENTALIST

NEIL GIBSON, ECONOMIST

Profit/loss this month: £1,683 Account: £121,342

Profit/loss for this month: £2,692 Account: £116,230

Profit/loss for this month: £10,446 (loss) Account: £75,059

Profit/loss for this month: £5,672 (loss) Account: £129,980

This month: Legal & General, Lloyds

This month: TUI, UTV

This month: GlaxoSmithkline, Ashtead

This month: Burbury, Sports Direct

Need a different perspective? Whatever your audit, tax or advisory needs, KPMG can help. Contact Jon Dâ&#x20AC;&#x2122;Arcy 028 9024 3377 kpmg.ie

ECONOMY

Economic outlook: unsettled! Economist Philip McDonagh takes a look at the economic landscape and advises making hay while the sun shines. Northern Ireland economy shows that the local economy picked up in early 2015 with growth of 1.1% in the first quarter alone. However as the chart shows economic recovery still lags well behind the rate of recovery elsewhere in the UK and in Ireland.

conomic growth in Northern Ireland has been a bit like our summer this year – we keep waiting for it to happen! A couple of days of sunshine and everyone thinks that summer has finally arrived, only for the cold wet weather to return. Meanwhile in the economic climate, a couple of new job announcements and a drop in headline unemployment and the economic feel-good temperature rises sharply. Then the dark clouds of public expenditure cuts and uncertainty over devolution of corporation tax roll in again. Many businesses are wondering if they will ever actually see a couple of years of economic sunshine before they hit the next recession. So what is the economic outlook for the next 12 months, not just for the 100 top businesses but for the other 70,000 or so businesses that make up our private sector? The latest economic output data for the

The collapse of the construction industry from the giddy heights of 2007 has undoubtedly contributed to this although there are recent signs that the sector is finally beginning to pick up with growth in the last two quarters. The lack of any growth in the public sector, which forms such an important part of the local economy, has also held back overall growth. But even our private sector manufacturing and services industries have not demonstrated the growth that we need to generate the private sector led economic growth that we aspire to.

“The latest economic output data for the Northern Ireland economy shows that the local economy picked up in early 2015 with growth of 1.1% in the first quarter alone.” Despite the lack of growth in output, employment levels have continued to rise. More recent indicators from the Ulster Bank PMI Survey and the Danske Bank

Consumer Confidence Index suggest that a pick-up in output growth is under way. Consumer confidence reached its highest level for 7 years in the first quarter of 2015 and the PMI also reported improving business sentiment during the second quarter with increased levels of output, orders, exports and staffing levels. On the ground, Invest NI continues to report new investment both by indigenous firms and new investors from outside Northern Ireland.

“More recent indicators from the Ulster Bank PMI Survey and the Danske Bank Consumer Confidence Index suggest that a pickup in output growth is under way.” Nevertheless, local economic forecasters do not expect the economy to grow by more than 2% this year, less than the UK average. And there is some divergence amongst economists on the outlook for next year. The commercial forecasters generally expect a return to trend growth in the local economy in 2016 with Danske projecting 2.3%, Oxford Economics 2.2% and EY an average of 2% for the period 2016-2020. In contrast, the Economic Policy Centre at Ulster University has developed a new demandbased economic model for the UK economy

ECONOMY

which projects a step fall in growth in the NI economy to 1.1% in 2016, 1% in 2017 and 1.3%, largely as a result of the UK public spending austerity programme. This worryingly negative outlook is compounded by the prospect of increased interest rates in 2016 and the strong rate of sterling, which particularly affects businesses exporting to the Republic of Ireland and the rest of the Eurozone currency area. On the other hand the US economy is growing strongly again and this means good opportunities for local exporters and for those looking for new

AUGUST 2015

direct investment by American firms. The UK economy, our largest trading partner, is also beginning to grow more strongly.

and the British food market presents huge opportunities for local companies if the industry gets its new marketing body in place.

Sectorally, the software and ICT sector in general should experience good growth over the next 12 months, along with the professional and financial services sectors. Manufacturing, which consists mainly of food processing and engineering, continues to out-perform other sectors of the economy and has now exceeded pre-recession levels of output. The weak euro spells problems for agri-food but this sector has shown a remarkable resilience over the last 10 years

The local construction sector is finally beginning to see some light at the end of the tunnel as the local property market picks up but this is balanced by continuing constraints on the Executiveâ&#x20AC;&#x2122;s capital spending budget. Tourism is benefitting from the events strategy of the last few years with increasing numbers of visitors arriving despite the awful summer weather. As the farmers say, make hay while the sun shines!

BANKING

Building trust and advocacy By Richard Donnan, Managing Director, Retail Banking and NI SME & CIB

rust is hard won and easily lost – it’s one of the most valuable parts of a business relationship. There are lots of ways to measure whether it exists, yet it can be difficult to grasp the complex factors that cause it to exist. When trust exists, a bank can best support its customers in more informed, intuitive and innovative ways. That’s why Ulster Bank’s ambition, working closely with our customers and colleagues in RBS and NatWest, is to be the number one for customer service, trust and advocacy by 2020. At Ulster Bank, we want to ensure our support reaches all parts of Northern Ireland – whether that’s supporting someone looking for their first mortgage, or supporting one of the many great SMEs that make up the bulk of local private sector companies in Northern Ireland. As a bank that first ‘started up’ almost 180 years ago in Northern Ireland by a number of local businessmen, support for entrepreneurship is in our DNA. Whether it’s through our branch-based business development managers, or our continued investment and innovation in online channels and digital tools, such as fingerprint login for our mobile banking app and Apple Pay, we

continue to change to meet our customers’ needs – building their confidence and trust in our ability to innovate for them. Building trust means that people know you’re able to react quickly and effectively to the challenges and opportunities that face them, enabling them to make the best of these opportunities. We pride ourselves on being responsive to a changing landscape. For example, DETI have announced that next year will be Northern Ireland’s Year of Food, and we’ve been keen to let Northern Ireland businesses know how we can support them through our dedicated food & drink proposition. This includes options such as flexible loan repayments, which could be suitable for the seasonality of certain businesses and the impact that can have on cash flow – allowing businesses to better align income streams with repayment schedules. We also offer a consumer insights loan, which is available to help meet changing consumer needs, for example the cost of marketing or the development of new products. Trust is also important for breaking in to new markets, and that’s why we have a suite of products to help support our exporters – making

sure that they spend less time chasing invoices, or worrying about exchange rates, instead focusing on competing, winning and serving an expanding customer base. This belief in trust and relationship building also means that we look to recognise and celebrate the success of those local companies that are standard-bearers for quality in Northern Ireland. We do this through the Ulster Bank Business Achiever Awards. Local companies have been very successful in these awards in the past and I look forward to seeing another bumper crop of entries across the eight award categories. Winning an Ulster Bank Business Achievers Award is an endorsement of business strategy, a boost for staff morale, and a great marketing opportunity – marking a great staging post for business growth and providing broader awareness and recognition. With £1.5bn available to lend to businesses this year, Ulster Bank has the capability and the appetite to get behind your ambitions. As we move forward to meeting our ambition on trust, service and advocacy, we look forward to exploring and introducing new ideas and new thinking in growing and supporting the local economy.

BUSINESS PSYCHOLOGY

The yes man Supercharge your negotiation skills and get to YES faster, every time, with a little help from mentalist David Meade.

ew areas of personal and professional development excite those in business more than the art and craft of negotiation. We’d all like to think theres a “secret sauce” that will separate us from our peers and competitors and guarantee that elusive yes. And there is… Knowing this is the easy part. Using it is less so, since the key to closing that deal or making the tough sale is no single technique that – in isolation – will get the results you’re after. Effective negotiation is a collection of behaviours, propositions, offers, and concessions that result, in optimum circumstances, with both parties leaving the table (or car yard, or kitchen showroom) feeling that they’ve both got a good deal. Over the next six issues, Ulster Business will be unpicking the science and evidence behind the most effective negotiation tools. You’ll learn what products to lead with first, when to address the deficiencies of your offering, how to reference competitors in your pitch, when is the right time to ask for the signature, how to use psychological pricing to close the sale, and the single most important thing you should mention when you first meet a brand new client, prospect, or lead. It’ll form an essential part of your corporate toolkit, so don’t forget to cut out the articles for future reference.

First things first It’s widely accepted now that when presenting a product or solution to a client,

AUGUST 2015

one should present a series of options from which they can choose. Gone are the days of putting all our eggs into one basket and banking on a single HERO product – the best thing since sliced bread that will solve all their work woes. This begs the question though – in what order should you present the options? Where should you present the most expensive option? In what position (first, last, middle) should you locate the solution that has the best margin, the bigger yield, or the one that you know will make the biggest long term impact to your clients wellbeing?

“Those organisations which employ the principle of contrast effectively will cash in on improved sales, better engagement with stakeholders, and will hear the magic word ‘yes’ much more often.” Exciting research from the United States shows us there really is a ‘secret sauce’ to persuading your fellow negotiator and evidence shows this one principle can make a dramatic impact on your likelihood to close the deal. Apply this one technique just once to see the results, and I promise it will

fundamentally change the way you present to your clients from this moment on.

And it’s all about contrast The evidence is clear, those organisations which employ the principle of contrast effectively will cash in on improved sales, better engagement with stakeholders, and will hear the magic word ‘yes’ much more often than their counterparts. The way we perceive something is directly affected by whatever comes before it. Your products can be made much more attractive (or indeed less so) by controlling what comes first. We can understand the benefits and rewards of a product or action better when we see it in comparison with some other alternative, than when we see it in isolation. Lets look at how you can put this into action, today.

Spoiler alert It drives well, the price is right, you trust the salesperson, and – perhaps most importantly – the it has four USB ports. In the dealership office, you’ve hammered out a nice agreement, and having signed on the dotted, you now own £20,000 of instantly depreciating goodness. Just after you sign, if not as you’re doing it, the salesperson mentions as an afterthought if you’d like to have custom mats installed before you go to ‘keep it good’, they’re only £99 and it can be added onto your finance deal, making only pennies worth of difference to your monthly payments. Or perhaps it’s a sporty spoiler, or a 10 CD changer, or >

BUSINESS PSYCHOLOGY

even a spare tyre (remember when they used to be free?). The small additional price, in contrast to your new wheels, seems like a drop in the ocean, and most customers say yes.

Peace of mind I work with a huge number of organisations in the IT space, very many of them rely on service/support sales to bolster their bottom line. Imagine your goal is to sell a £99 per month service package to new customers. “Our complete service package, to include 24 hour call outs and unlimited site visits is £499, and it really does have absolutely everything you’d need to protect against service outage at all times.” Let the price sink in, wait for feedback, and be ready to follow up immediately with “If budget is an issue at this stage we can offer a really effective and affordable alternative, it’s only £99 per month and offers full 24 hour remote support so our team will be on hand to take your calls and offer advice and service over the phone – it’s a great way to get you started and ensure you’re completely covered for the time being.”

The second option (the one you are most keen to sell) is at a much more accessible price point, and covers most of their needs, and is much more likely to be chosen.

Sky’s the limit Once or twice a year, I take a thorough look at my direct debits, and never fail to balk at the amount of money my household spends on TV and streaming entertainment packages. What felt like a bargain when I signed up seems like an huge waste of money when I realise I’ve only streamed one movie in the past six months. I call up to cancel, and just before I do, I’m offered the same deal at 1/3rd of the price. And I renew. I know, I’m a idiot.

then ask for it Monday, and when they break into a cold sweat you can concede that Friday would do ‘at the very latest’. Not only are you far more likely to get the document by the date you need it, but you look like a helpful and flexible colleague in the process. In short, next time you’re trying to close a deal, spend a little time planning what you’ll offer first. In the meantime, I’m off to cancel my Netflix account. David has been a researcher and lecturer in international business with one of Ireland’s leading universities, whose personal interests have always focused on aspects of popular psychology, consumer behaviour, and choice.

Back at the office

He’s driven by a passion for understanding

The contrast principle may seem like common sense. The fact is common sense is staggeringly uncommon in application. When applied, even casually, this technique is a powerful way to increase your likelihood of getting what you want or need from those around you.

how and why we think the way we do. David has become a sought after international speaker and corporate advisor in the USA and Europe with a reputation for an innovative style that forces audiences to think critically about the challenges around them. In this series of articles for Ulster Business, he’ll cultivate a wide range of cutting edge research

If you need a report on your desk by next Friday, but know the individual has a penchant for submitting on or after deadline,

in management and leadership to help you achieve peak performance. Find out more about David’s work on www.davidmeade.co.uk and follow him on twitter @davidmeadelive

Productivity and reform – sharing the austerity burden

By Kevin MacAllister

“B

ritain still spends too much, borrows too much, and our weak productivity shows we don’t train enough or build enough or invest enough.” Less than a minute into his recent Summer Budget statement, that was the first of a series of messages George Osborne delivered to business and the private sector in his drive to shift the UK from, “a low wage, high tax, high welfare economy; to the higher wage, lower tax, lower welfare country”, that he aspires to create. The general election gave the Conservatives a five-year clear run to put their economic stamp on the UK, freed from the constraints of their previous LibDem partners and George Osborne wasted no time in delivering the tough messages. He committed to deliver £37bn of further consolidation over the lifetime of the parliament and the Summer Budget has laid out how the first £17bn will be found – around £12bn of annual savings from welfare and £5bn from tackling tax evasion, avoidance, planning and imbalances in the tax system. The remaining £20bn, he said, would largely come from further savings in government departmental expenditure to be announced in the Comprehensive Spending Review, now due on 25 November.

Given that the local economy is demonstrating real recovery, albeit well below the UK average, anything that encourages investment and growth is welcome. So, from Northern Ireland’s perspective, the Summer Budget might have been worse, but on reflection, local business may not be entirely rapturous in welcoming the implications of some of the measures. There’s always a rabbit in the Chancellor’s Budget hat and this one managed a couple. The big eye-catcher was the “National Living Wage” – effectively an 11% mandatory increase in the minimum wage from its current £6.50 per hour to £7.20 by next April and £9 by 2020. However, there’s one vital and necessary condition for sustainable wage growth and that’s productivity growth. Unfortunately UK productivity levels are still about 15% below what the pre-financial crisis trends would indicate and average GDP per hour across the UK is around 30% lower than France, Germany and the US. Put another way; Treasury calculated that matching the productivity level of the US workforce would raise UK GDP by 31%, equating to around £21,000 per annum for every household in the UK. That’s a pretty compelling argument and clearly it resonated with the Chancellor, hence his strategy of balancing sharp cuts to working tax credits with a hefty hike in the new National Living Wage in the hope that this would persuade – or force – the private sector to respond by increasing productivity to fund the difference. That’s a neat theory and cutting corporation tax to 18% by 2010 was another Budget rabbit intended to encourage the private sector to take up the challenge of included in the Chancellor’s Productivity

Plan. This came just two days after the Summer Budget and included four key areas for investment and reform: • Roads investment, to improve a crumbling infrastructure. • Accelerated housebuilding (475,000 extra homes by 2020) to match rising demand and provide homes for workers to live in. • Improving the quality of teaching and research in universities. • Addressing a “market failure” whereby UK companies are not training enough; the Chancellor has put it more bluntly, claiming some UK companies have been “lazy” when it comes to prioritising vocational training. A levy to fund apprenticeships is now proposed. Unfortunately for Northern Ireland, these initiatives are largely English-centric and that too, should come as no surprise. When it came to talking about the regions in his Statement, the Chancellor said that, “devolution to the nations of the United Kingdom is well established, “and, “... in Northern Ireland, we are working with all parties to deliver the ‘Stormont House Agreement and sustainable public finances there.” And that was it. So, when it comes to implementing the working tax credits/National Living Wage/ productivity deal, Northern Ireland’s private sector and the Executive, should think very carefully because low productivity has been even more of a problem here in Northern Ireland than the rest of the UK. Indeed, our position has actually fallen compared to the UK average. In its February 2015 Subregional Productivity report, the Office for National Statistics (ONS) indicated that Northern Ireland’s GVA

per hour as a percentage of the UK average was 82.8 in 2004, it climbed to 85.2 in 2007 then fell back to 82.2 in 2013. There was a similar pattern in terms GVA per worker (or strictly speaking GVA per job filled); that was 86.7% in 2002, rising to 90.7% in 2007 and falling back to 88.7% in 2012. So, while average wages are lower in Northern Ireland, so too are other key influencing factors like productivity, the percentage of companies that are net exporters and the number of large, internationally-competitive firms capable of driving significant productivity improvement and absorbing the implications of the National Living Wage. In addition, the previous Programme for Government (PfG) saw the Executive set a target for productivity improvement and, while the target was not met, setting it was courageous and it is therefore unfortunate that the Executive opted to drop productivity outcomes from the current PfG. Now, with the business community carrying part of the burden of welfare reform through mandatory higher wages, improving

the productivity of Northern Ireland’s private sector, becomes a real priority. That takes us neatly to corporation tax. For profitable UK companies a further cut in corporation tax to 18% will be welcome, but for Northern Ireland the gap between 18% and 12.5% is a lot narrower than it was when the headline UK rate was 28%. The Corporation Tax (Northern Ireland) Act, doesn’t specify the rate so, when the UK goes to 18%, the Executive could take it below 12.5% – say to 10% – with no greater impact on the block grant. However, here too, there’s a catch and it’s the Stormont House Agreement. That says if there’s no deal on welfare, there’s no deal on the vital funds that balance the local budget and there’s no deal on corporation tax either. Indeed if the Executive’s finances are not put on “a sustainable footing”, there’s still no deal on corporation tax and that puts the onus back on the political parties. The Chancellor ominously remarked a few days ago that it “would not be sustainable” for Stormont to overspend its control limits.

If the Summer Budget highlighted the importance of boosting productivity, the announcement in November’s Comprehensive Spending Review highlighted the importance of departments contributing to a further £20bn of consolidation over the next four years. In its briefing paper, Treasury asks departments to submit 25% and 40% cost-reduction proposals; Secretaries of State to look to more devolution and public sector integration; and departments to examine their assets and consider privatisation and contracting-out. In summary therefore, we are embarking on a new phase of austerity, where constraints on Executive spending will be significant, where the private sector emphasis shifts from job-creation to wealth-creation and where productivity becomes the key to prosperity and rebalancing the economy.

Kevin MacAllister is a partner and private sector leader with PwC in Northern Ireland. He can be contacted on +44 (0)28 9041 5560 or at: kevin.macallister@uk.pwc.com

LEGAL ANGLE

The regeneration game Kathryn Forde, partner at TLT Solicitors in Belfast, explains why working together is key to effective regeneration.

uccessfully delivered regeneration can be key to the future of an area and can also be an effective way to tackle social issues, create jobs and attract investment. In Northern Ireland, certain areas will not thrive if we donâ&#x20AC;&#x2122;t see improvement.

consortium basis. Experience shows that multi-sector partners bidding together brings out the best ideas, in particular the potential windfalls beyond the obvious construction of buildings in the area might be.

Whilst parties are keen to move forward quickly with regeneration projects, it is vital that to bring long term and sustainable change to an area there needs to be a clear strategy and careful planning. Costs, disagreement over use of space and provision of long-term management are all aspects that require serious attention and time.

Even without consortium bids, bringing the private, public and not-for-profit sectors together is critical; ensuring that different perspectives on design, cost and planning are in the mix from the start. Competing views can be challenging but, the more perspectives early on, the better the regeneration outcome. Disagreements can also be hammered out at an early stage, before the planning and build phase kicks in.

A lack of structure, strategy and vision will fail to attract both public and private sector monies when there is so much competition for the same pots. The public sector looks for recordable outputs whilst unsurprisingly the private sector wants to make money. Whilst it may seem so, these are not so vastly different because success on each side relies on the other.

Cost can be a real barrier to successful regeneration. This must be looked at early in the planning stages to flush out any unforeseen problems like the need for an expensive clean up before construction. Unforeseen costs can kill or damage a scheme and with that comes reputational damage. There is nothing worse than for a project to stall mid-stream because of missing something fundamental.

Belfast has already seen impressive regeneration projects including the Titanic and Cathedral Quarters developments that are attracting business interest, investment, new restaurants; planned hotels and an increase in tourism. Equally, the Northside regeneration scheme, which is currently underway is an exciting scheme to watch evolve.

Each party also needs to be realistic. The timescale to deliver regeneration is long and arduous and often the economic cycle can work against it. Therefore, slow-down and exit strategies should be agreed up front.

These projects are successful because of substantial buy-in from the relevant stakeholders and well thought through master planning. Therefore, long term management including ownership of common elements and maintenance and protection of the development is vital to achieve that end. And the most important part of this is taking the community with you. A lack of consultation will lead to little support. This will not only help move the project on but can of itself generate important ideas and will minimise the objections. So, how can the door to regeneration be unlocked? A competitive bidding process will bring innovation and creativity but also provides the catalyst for each sector to talk and perhaps bid on a

A multi-tenure approach that involves the community can help to ensure vacant and run down sites do not become ghettoes. This can be difficult in Northern Ireland where there has historically been segregation based on religion. But regular consultations and briefings on the project as it progresses will help to keep it on track and ensure it delivers value. A comprehensive approach to a regeneration project is the key to making it happen. Thinking about the area in terms of providing good quality housing, increasing employment, how to attract investment and potentially tourism, and importantly how it will service local residents is what projects require. In Northern Ireland this tactic to regenerating many â&#x20AC;&#x153;unlovedâ&#x20AC;? sites with a long-term management approach will help deliver the regeneration we desperately need.

TOP 100 ANALYSIS

Top 100 companies hit record valuation Jonathan Cushley from D&B compiled the list of Northern Ireland’s Top 100 companies. He gives us his assessment of the trends in this year’s listing.

he 2015 compilation of the Ulster Business Top 100 Companies 2015 listing has uncovered a significant positive for the Northern Ireland economy with the combined shareholder value of the province’s top companies increasing by over 35%. The tangible net worth of the top companies climbed from £5,321bn declared in the prior year results to £7.246bn in the latest year’s financials. Table 1

Both turnover (5.6%) and profitability (19%) also showed positive growth. The Ulster Business Top 100 incorporates the results of Northern Ireland based companies, either Northern Ireland registered or headquarter domiciled and relates in the vast majority of cases to businesses filing either 2014 or late 2013 financial year end performance results.

Since the inception of the listing in August 1989, turnover has been used as the key identifier of performance. The turnover/sales figure in conjunction with profitability & shareholder value is imperative for companies when measuring ongoing performance especially in a challenging and competitive business environment.

Top 100 Performance Sales within the companies listed in this year’s

TOP 100 ANALYSIS

TOP 10 most PROFITable companies Company

Profit (£’000)

Profit Margin (%)

Rank in Top 100

1. Northern Ireland Water

138,457

2. Scottishpower Renewables (UK)

102,800

36.8

3. Sangers (Northern Ireland)

77,643

35.2

4. Glen Electric

68,544

8.1

5. Northern Ireland Electricity

61,500

25.2

6. Aes (NI)

58,028

30.9

7. Terex (GB)

42,464

8. Creation Consumer Finance

33,825

22.4

9. Moy Park

33,780

2.8

10. Nicholl’s Fuel Oils

30,828

11.7

Top 100 increased by 5.6% to £22,244bn from £21,311bn prior year. Due to the nature of the Top 100 and for comparative purposes D&B only utilise year-on-year comparison for the 100 companies included in the 2015 listing.

their places within the top five. However a new addition Dunbia Ltd is included for the first time in many years. Dunbia Ltd is now ranked at number three with a sales turnover of £762m for a number of years traded as a private unlimited company and was not required to disclose financial performance.

The top companies didn’t show much fluidity with the perennial main performers retaining their places. Moy Park Ltd retained top spot with the Tyrone company showing impressive sales growth for the year ended 31/12/13 of over 10% on a £1.2bn turnover. Glen Electric, Gortmullan Holdings and John Henderson (Holdings) Ltd all retained

Within the remainder of the Top 10 results were challenging with a number of the companies showing a reduction on year-onyear turnover performance. Short Brothers PLC, however, showed strong sales growth to the period ending 31/12/14 of 12.2%, Fane Valley showed lesser sales growth of 3.7% while Lissan Coal Company sales fell 8%.

The majority of group relationships within the Top 100 have been either amalgamated under company parentage or excluded. However, please note that the AES companies responsible for Kilroot and Ballylumford power stations are separate entities. In addition, various Isaac Agnew companies have been included separately due to a change in group accounting, which means no aggregated Northern Ireland results would be available (for additional context please see reader notes). See Table 1.

Profitability The success of a business cannot consider solely the top line sales performance, the generation of profit is key to the on-going viability and sustainability of any organisation. The 2015 Top 100 showed a significant increase in their declared pre-tax profit figures with profitability now sitting at £1,215bn compared to the previous year of £1.051bn. This increase of 15.6% is a strong economic indicator and when taken in conjunction with the increased sales and the significant shareholder value bodes well for the top Northern Ireland companies. The Top 100 companies have returned a profit margin – sales/pre-tax profit of 5.4% which >

AUGUST 2015

TOP 100 ANALYSIS

Table 2

compares favourably to the 4.9% margin from prior year. Nine of the Top Companies posted a loss. The Top performing companies from a profit perspective has changed significantly in the 2015 listing, in an arena normally dominated by power and utility companies, other businesses flexed their financial muscle. Whilst ScottishPower Renewables Table 3

(36.8%) led the way, Sangers (NI) Ltd 35.2%, Northern Ireland Water Ltd (32%) and The Old Bushmills Distillery Company Ltd (31.9%) all were in the running. In the current listing, profit per employee within the Top 100 increased to £14,656, with sales per employee hitting £268,420. The total number of employees reduced from 83,604 to 82,871 – (-1%). See Table 2.

Net Worth (Shareholder Value) The third measure of a company’s overall success utilised when compiling the Top 100 listing is the company’s value to its shareholders. In its simplest form it is the shareholders’ funds (issued capital) + retained profits – intangibles. The value of the 2015 Top 100

TOP 100 ANALYSIS

Companies to their shareholders has increased significantly to £7.246bn from £5.321bn a 36% increase on the figure for same company’s prior year worth. A total of eight companies within the Top 100 showed a negative tangible net worth. The shareholders return for the Top 100 businesses equates to profit/net worth as a percentage – 16.7% against a prior year 19.7%. Inventory turnover defined as the turnover to net worth: this volume ratio indicates how many sales pounds are generated with each pound of investment and this equates to for 2014 – 3.07 compared to 4 for the current Top 100’s prior year. See Table 3.

Location Comparison Since the inception of the Top 100 we have periodically reviewed the geographic headquarter location from which the Top 100 companies conduct their business. In the years between 2004 and 2014 there have been a number of notable location shifts of Top 100 listed companies. County Tyrone has seen an 120% increase (5 businesses to 11), County Derry/Londonderry a 29% increase (7-9) whilst Belfast included due to its business propensity has remained

flat at 43 business inclusions. County Fermanagh also remains flat (2-2) whilst County Armagh increases by 14% (8-9), County Down decreases by 10% (10-9) and County Antrim decreases by 25% (25-20). The east of the Province accounts for 72% of the locations of the Top 100. See Table 4.

are included within the Top 100 under their own merits as Golf Holdings Ltd does not file consolidated accounts. 4. Musgrave Distribution Ltd (63) & Musgrave Retail Partners (NI) Ltd (25) both file individual Northern Ireland accounts, their ultimate parent company Musgrave PLC is RoI registered.

Reader Notes In certain instances comparisons have been made with other Top 100 editions. These comparisons may include figures for companies not included in the current Top 100 due to fluidity of results. A date of 26/06/15 has been used as a cut off for inclusion of financial results within the Ulster Business Top 100. Financial Information has been gathered using D&B’s Investigate Market Research & Analytics Tool. 1. Short Bros PLC accounts have been filed in $US, for comparative purposes these accounts were converted to sterling at the exchange rate prevalent on 31/12/14. 2. Dunbia Ltd and its group companies reregistered as private limited companies on 5th February 2014. 3. Golf Holdings Ltd which owns Philip Russell Ltd & James E McCabe Ltd – both

5. During the compilation of text – 2015 refers to the current Top 100, mention of 2014 as a period relates to the period pertaining to the financial results of the 2015 Top 100 companies.

About D&B D&B provides the information, tools and expertise to help Customers to Decide with Confidence. D&B enables customers to have instant access to objective, domestic and global information whenever and wherever they need it. Customers use D&B Risk Management Solutions to manage credit exposurer. More than 90% of the Global 1000 rely on D&B as a trusted partner to enable confident business decisions.

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Table 4

AUGUST 2015

PROFILE

Top 100 company in waiting Company name: Just Live a Little Ltd Founders: Jill and David Crawford Location: Portaferry, Co. Down

What makes your business stand out? We are an interesting and personal granola company. Our brand makes us a bit different from the big boys of the cereal world and our packaging is also really unique compared to anything else available. The story on the back is our story and the little characters are based on our family.

“I began making the granola in the evenings and we took it to St George’s Market in Belfast. People loved the granola and began asking to buy it. It grew from there.” How did you come up with the idea for the company? David was working for a yoghurt company and we needed something to go with it to allow people to taste the yogurt. I began making the granola in the evenings and we took it to St George’s Market in Belfast. People loved the granola and began asking to buy it. It grew from there. How do you compare with the competition? Obviously granola is a very competitive

David and Jill Crawford and family.

sector and we have to keep our pricing keen. But we have created some really bespoke flavour combinations such as our whole almond, our best selling product.

business, you have to always be looking at innovation and what’s coming next. Our next product is a gluten-free granola which our customers have been asking for.

How will your business look in five years time? It is too far for me to think that far ahead. However our plan for the next year is to continue growing both here in Northern Ireland and key markets on our doorstep in the Republic and the UK.

We are constantly refreshing our range and in the short time we have been in business we have learnt what works and what our customers want.

How do you encourage innovation in your company? David is constantly coming up with new ideas for new products and, as with any food

What is the secret to your success? Setting up any young business is incredibly stressful but as a husband and wife team with a young family we always try to take time to Just Live a Little and come back at things fresh. That and lots of hard work and resilience!

TT, LIMITED UNITED DAIRY FARMERS LIMITED NORTHERN IRELAND WATER LIMITED JOHN GRAHAM HOLDINGS LIMITED P&O FERRYMASTERS LIMITED CHARLES HURST LIMITED SHS GROUP LIMITED ALMAC GROUP LIMITED FOYLE FOOD GROUP LIMITED QUEEN’S UNIVERSITY OF BELFAST SSE AIRT

Y SUPPLY (NI) LIMITED DONNELLY BROS. GARAGES (DUNGANNON) LIMITED TEREX GB LIMITED SCOTTISHPOWER RENEWABLES (UK) LIMITED MUSGRAVE RETAIL PARTNERS NI LIMITED NORTH WEST BOOKMAKERS LIMITED NICHOLLS’(FUEL OILS) LIMITED DCC ENERGY LIMITED NORTHERN IR

RICITY LIMITED VIRIDIAN ENERGY SUPPLY LIMITED NORTHSTONE (NI) LIMITED SANGERS (NORTHERN IRELAND) LIMITED MAXOL OIL LIMITED CAPITA MANAGED IT SOLUTIONS LIMITED NORTHERN IRELAND TRANSPORT HOLDING CO NORBROOK LABORATORIES LIMITED COCA-COLA HBC NOR

ND LIMITED GREENFIELDS IRELAND LIMITED MCLAUGHLIN & HARVEY LIMITED SCHRADER ELECTRONICS LIMITED UNIVERSITY OF ULSTER AES (NI) LIMITED WRIGHTBUS (CORNERSTONE GROUP) TRENCH HOLDINGS LIMITED COOLKEERAGH ESB LIMITED LAMEX FOODS IRELAND LTD LAGAN CONSTRU

P HOLDINGS LIMITED CREATION CONSUMER FINANCE LIMITED TOPAZ ENERGY LIMITED CHAIN REACTION CYCLES LTD DAIRY PRODUCE PACKERS LIMITED DUNNES STORES (BANGOR) LIMITED AES BALLYLUMFORD LIMITED TMC DAIRIES (N.I.) LIMITED F.P. MCCANN LIMITED SONI LIMITED H

RONICS CO. LTD DIAGEO NORTHERN IRELAND LIMITED BRETT MARTIN HOLDINGS LTD WILLSTAN LIMITED CLEARWAY DISPOSALS LIMITED UTV MEDIA PLC MUSGRAVE DISTRIBUTION LIMITED SDC TRAILERS LIMITED LAKELAND DAIRIES (N.I.) LIMITED DEVENISH (NI) LIMITED WESTLAND HORTICU

D R & H HALL TRADING LIMITED A H FUEL OILS LTD H & J MARTIN HOLDINGS LIMITED MONTUPET (U.K.) LIMITED LYNAS FOODSERVICE LIMITED HOWDEN UK LIMITED RANDOX HOLDINGS LIMITED JAMES E. MCCABE LIMITED ALLSTATE NORTHERN IRELAND LIMITED FIRST DERIVATIVES PUBLIC L

ANY ARDS HOLDINGS LIMITED D & W CARLISLE LTD PHILIP RUSSELL LIMITED ISAAC AGNEW LIMITED BALLYRASHANE CO-OPERATIVE AGRICULTURAL & DAIRY SOCIETY LIMITED BALCAS LIMITED MAGIR LIMITED INSPIRED BUSINESS INVESTMENTS LIMITED BAVARIAN GARAGES (N.I) LIMITED GAR

NGS LIMITED D. SHANNON STEWART LIMITED T.W. SCOTT & SONS (FUELS) LIMITED WHITEMOUNTAIN QUARRIES LTD MACNAUGHTON BLAIR LIMITED CREAGH CONCRETE PRODUCTS LIMITED MOTIS IRELAND LIMITED AGNEW COMMERCIALS LIMITED HALDANE, SHIELLS AND COMPANY, LIMITED MC

HE GROUP LIMITED THE OLD BUSHMILLS DISTILLERY COMPANY LIMITED KINGSPAN ENVIRONMENTAL LIMITED AGHAREANY LIMITED WARNER CHILCOTT (formerly Galen) MOY PARK LIMITED GLEN ELECTRIC LIMITED DUNBIA LIMITED GORTMULLAN HOLDINGS LIMITED JOHN HENDERSON (HOL

D SHORT BROTHERS PLC CATERPILLAR (NI) LIMITED POWER NI ENERGY LIMITED LISSAN COAL COMPANY LIMITED FANE VALLEY CO-OPERATIVE SOCIETY LIMITED W.& R. BARNETT, LIMITED UNITED DAIRY FARMERS LIMITED NORTHERN IRELAND WATER LIMITED JOHN GRAHAM HOLDINGS LIMITE

MASTERS LIMITED CHARLES HURST LIMITED SHS GROUP LIMITED ALMAC GROUP LIMITED FOYLE FOOD GROUP LIMITED QUEEN’S UNIVERSITY OF BELFAST SSE AIRTRICITY ENERGY SUPPLY (NI) LIMITED DONNELLY BROS. GARAGES (DUNGANNON) LIMITED TEREX GB LIMITED SCOTTISHP

WABLES (UK) LIMITED MUSGRAVE RETAIL PARTNERS NI LIMITED NORTH WEST BOOKMAKERS LIMITED NICHOLLS’(FUEL OILS) LIMITED DCC ENERGY LIMITED NORTHERN IRELAND ELECTRICITY LIMITED VIRIDIAN ENERGY SUPPLY LIMITED NORTHSTONE (NI) LIMITED SANGERS (NORTHERN IRELAND) L

L OIL LIMITED CAPITA MANAGED IT SOLUTIONS LIMITED NORTHERN IRELAND TRANSPORT HOLDING CO NORBROOK LABORATORIES LIMITED COCA-COLA HBC NORTHERN IRELAND LIMITED GREENFIELDS IRELAND LIMITED MCLAUGHLIN & HARVEY LIMITED SCHRADER ELECTRONICS LIMITED UNIVE

STER AES (NI) LIMITED WRIGHTBUS (CORNERSTONE GROUP) TRENCH HOLDINGS LIMITED COOLKEERAGH ESB LIMITED LAMEX FOODS IRELAND LTD LAGAN CONSTRUCTION GROUP HOLDINGS LIMITED CREATION CONSUMER FINANCE LIMITED TOPAZ ENERGY LIMITED CHAIN REACTION CYCLES LTD

UCE PACKERS LIMITED DUNNES STORES (BANGOR) LIMITED AES BALLYLUMFORD LIMITED TMC DAIRIES (N.I.) LIMITED F.P. MCCANN LIMITED SONI LIMITED HUMAX ELECTRONICS CO. LTD DIAGEO NORTHERN IRELAND LIMITED BRETT MARTIN HOLDINGS LTD WILLSTAN LIMITED CLEARWAY DISP

D UTV MEDIA PLC MUSGRAVE DISTRIBUTION LIMITED SDC TRAILERS LIMITED LAKELAND DAIRIES (N.I.) LIMITED DEVENISH (NI) LIMITED WESTLAND HORTICULTURE LIMITED R & H HALL TRADING LIMITED A H FUEL OILS LTD H & J MARTIN HOLDINGS LIMITED MONTUPET (U.K.) LIMITED LYNAS FOODSE

D HOWDEN UK LIMITED RANDOX HOLDINGS LIMITED JAMES E. MCCABE LIMITED ALLSTATE NORTHERN IRELAND LIMITED FIRST DERIVATIVES PUBLIC LIMITED COMPANY ARDS HOLDINGS LIMITED D & W CARLISLE LTD PHILIP RUSSELL LIMITED ISAAC AGNEW LIMITED BALLYRASHANE CO-OPE

ULTURAL & DAIRY SOCIETY LIMITED BALCAS LIMITED MAGIR LIMITED INSPIRED BUSINESS INVESTMENTS LIMITED BAVARIAN GARAGES (N.I) LIMITED GARDRUM HOLDINGS LIMITED D. SHANNON STEWART LIMITED T.W. SCOTT & SONS (FUELS) LIMITED WHITEMOUNTAIN QUARRIES LTD MACNAUG

LIMITED CREAGH CONCRETE PRODUCTS LIMITED MOTIS IRELAND LIMITED AGNEW COMMERCIALS LIMITED HALDANE, SHIELLS AND COMPANY, LIMITED MCALEER & RUSHE GROUP LIMITED THE OLD BUSHMILLS DISTILLERY COMPANY LIMITED KINGSPAN ENVIRONMENTAL LIMITED AGHAREANY L

ER CHILCOTT (formerly Galen) MOY PARK LIMITED GLEN ELECTRIC LIMITED DUNBIA LIMITED GORTMULLAN HOLDINGS LIMITED JOHN HENDERSON (HOLDINGS) LIMITED SHORT BROTHERS PLC CATERPILLAR (NI) LIMITED POWER NI ENERGY LIMITED LISSAN COAL COMPANY LIMITED FANE V

ERATIVE SOCIETY LIMITED W.& R. BARNETT, LIMITED UNITED DAIRY FARMERS LIMITED NORTHERN IRELAND WATER LIMITED JOHN GRAHAM HOLDINGS LIMITED P&O FERRYMASTERS LIMITED CHARLES HURST LIMITED SHS GROUP LIMITED ALMAC GROUP LIMITED FOYLE FOOD GROUP LIMITED QU

RSITY OF BELFAST SSE AIRTRICITY ENERGY SUPPLY (NI) LIMITED DONNELLY BROS. GARAGES (DUNGANNON) LIMITED TEREX GB LIMITED SCOTTISHPOWER RENEWABLES (UK) LIMITED MUSGRAVE RETAIL PARTNERS NI LIMITED NORTH WEST BOOKMAKERS LIMITED NICHOLLS’(FUEL OILS) LIMITED

Y LIMITED NORTHERN IRELAND ELECTRICITY LIMITED VIRIDIAN ENERGY SUPPLY LIMITED NORTHSTONE (NI) LIMITED SANGERS (NORTHERN IRELAND) LIMITED MAXOL OIL LIMITED CAPITA MANAGED IT SOLUTIONS LIMITED NORTHERN IRELAND TRANSPORT HOLDING CO NORBROOK LABORAT

D COCA-COLA HBC NORTHERN IRELAND LIMITED GREENFIELDS IRELAND LIMITED MCLAUGHLIN & HARVEY LIMITED SCHRADER ELECTRONICS LIMITED UNIVERSITY OF ULSTER AES (NI) LIMITED WRIGHTBUS (CORNERSTONE GROUP) TRENCH HOLDINGS LIMITED COOLKEERAGH ESB LIMITED

IRELAND LTD LAGAN CONSTRUCTION GROUP HOLDINGS LIMITED CREATION CONSUMER FINANCE LIMITED TOPAZ ENERGY LIMITED CHAIN REACTION CYCLES LTD DAIRY PRODUCE PACKERS LIMITED DUNNES STORES (BANGOR) LIMITED AES BALLYLUMFORD LIMITED TMC DAIRIES (N.I.) LIMITE

NN LIMITED SONI LIMITED HUMAX ELECTRONICS CO. LTD DIAGEO NORTHERN IRELAND LIMITED BRETT MARTIN HOLDINGS LTD WILLSTAN LIMITED CLEARWAY DISPOSALS LIMITED UTV MEDIA PLC MUSGRAVE DISTRIBUTION LIMITED SDC TRAILERS LIMITED LAKELAND DAIRIES (N.I.) LIMITED DEV

MITED WESTLAND HORTICULTURE LIMITED R & H HALL TRADING LIMITED A H FUEL OILS LTD H & J MARTIN HOLDINGS LIMITED MONTUPET (U.K.) LIMITED LYNAS FOODSERVICE LIMITED HOWDEN UK LIMITED RANDOX HOLDINGS LIMITED JAMES E. MCCABE LIMITED ALLSTATE NORTHERN IRELAND L

THE TOP 100 NORTHERN IRELAND COMPANIES 2015

DERIVATIVES PUBLIC LIMITED COMPANY ARDS HOLDINGS LIMITED D & W CARLISLE LTD PHILIP RUSSELL LIMITED ISAAC AGNEW LIMITED BALLYRASHANE CO-OPERATIVE AGRICULTURAL & DAIRY SOCIETY LIMITED BALCAS LIMITED MAGIR LIMITED INSPIRED BUSINESS INVESTMENTS LIMITED BAV

GES (N.I) LIMITED GARDRUM HOLDINGS LIMITED D. SHANNON STEWART LIMITED T.W. SCOTT & SONS (FUELS) LIMITED WHITEMOUNTAIN QUARRIES LTD MACNAUGHTON BLAIR LIMITED CREAGH CONCRETE PRODUCTS LIMITED MOTIS IRELAND LIMITED AGNEW COMMERCIALS LIMITED HALDANE, S

OMPANY, LIMITED MCALEER & RUSHE GROUP LIMITED THE OLD BUSHMILLS DISTILLERY COMPANY LIMITED KINGSPAN ENVIRONMENTAL LIMITED AGHAREANY LIMITED WARNER CHILCOTT (formerly Galen) MOY PARK LIMITED GLEN ELECTRIC LIMITED DUNBIA LIMITED GORTMULLAN HOLDINGS L

HENDERSON (HOLDINGS) LIMITED SHORT BROTHERS PLC CATERPILLAR (NI) LIMITED POWER NI ENERGY LIMITED LISSAN COAL COMPANY LIMITED FANE VALLEY CO-OPERATIVE SOCIETY LIMITED W.& R. BARNETT, LIMITED UNITED DAIRY FARMERS LIMITED NORTHERN IRELAND WATER LIMITED

AM HOLDINGS LIMITED P&O FERRYMASTERS LIMITED CHARLES HURST LIMITED SHS GROUP LIMITED ALMAC GROUP LIMITED FOYLE FOOD GROUP LIMITED QUEEN’S UNIVERSITY OF BELFAST SSE AIRTRICITY ENERGY SUPPLY (NI) LIMITED DONNELLY BROS. GARAGES (DUNGANNON) LIMITED TER

D SCOTTISHPOWER RENEWABLES (UK) LIMITED MUSGRAVE RETAIL PARTNERS NI LIMITED NORTH WEST BOOKMAKERS LIMITED NICHOLLS’(FUEL OILS) LIMITED DCC ENERGY LIMITED NORTHERN IRELAND ELECTRICITY LIMITED VIRIDIAN ENERGY SUPPLY LIMITED NORTHSTONE (NI) LIMITED SA

HERN IRELAND) LIMITED MAXOL OIL LIMITED CAPITA MANAGED IT SOLUTIONS LIMITED NORTHERN IRELAND TRANSPORT HOLDING CO NORBROOK LABORATORIES LIMITED COCA-COLA HBC NORTHERN IRELAND LIMITED GREENFIELDS IRELAND LIMITED MCLAUGHLIN & HARVEY LIMITED SCH

RONICS LIMITED UNIVERSITY OF ULSTER AES (NI) LIMITED WRIGHTBUS (CORNERSTONE GROUP) TRENCH HOLDINGS LIMITED COOLKEERAGH ESB LIMITED LAMEX FOODS IRELAND LTD LAGAN CONSTRUCTION GROUP HOLDINGS LIMITED CREATION CONSUMER FINANCE LIMITED TOPAZ ENERGY L

REACTION CYCLES LTD DAIRY PRODUCE PACKERS LIMITED DUNNES STORES (BANGOR) LIMITED AES BALLYLUMFORD LIMITED TMC DAIRIES (N.I.) LIMITED F.P. MCCANN LIMITED SONI LIMITED HUMAX ELECTRONICS CO. LTD DIAGEO NORTHERN IRELAND LIMITED BRETT MARTIN HOLDINGS LTD WIL

D CLEARWAY DISPOSALS LIMITED UTV MEDIA PLC MUSGRAVE DISTRIBUTION LIMITED SDC TRAILERS LIMITED LAKELAND DAIRIES (N.I.) LIMITED DEVENISH (NI) LIMITED WESTLAND HORTICULTURE LIMITED R & H HALL TRADING LIMITED A H FUEL OILS LTD H & J MARTIN HOLDINGS LIMITED MON

IMITED LYNAS FOODSERVICE LIMITED HOWDEN UK LIMITED RANDOX HOLDINGS LIMITED JAMES E. MCCABE LIMITED ALLSTATE NORTHERN IRELAND LIMITED FIRST DERIVATIVES PUBLIC LIMITED COMPANY ARDS HOLDINGS LIMITED D & W CARLISLE LTD PHILIP RUSSELL LIMITED ISAAC AGNEW L

RASHANE CO-OPERATIVE AGRICULTURAL & DAIRY SOCIETY LIMITED BALCAS LIMITED MAGIR LIMITED INSPIRED BUSINESS INVESTMENTS LIMITED BAVARIAN GARAGES (N.I) LIMITED GARDRUM HOLDINGS LIMITED D. SHANNON STEWART LIMITED T.W. SCOTT & SONS (FUELS) LIMITED WHITEMOU

RIES LTD MACNAUGHTON BLAIR LIMITED CREAGH CONCRETE PRODUCTS LIMITED MOTIS IRELAND LIMITED AGNEW COMMERCIALS LIMITED HALDANE, SHIELLS AND COMPANY, LIMITED MCALEER & RUSHE GROUP LIMITED THE OLD BUSHMILLS DISTILLERY COMPANY LIMITED KINGSPAN ENVIRONM

D AGHAREANY LIMITED WARNER CHILCOTT (formerly Galen) MOY PARK LIMITED GLEN ELECTRIC LIMITED DUNBIA LIMITED GORTMULLAN HOLDINGS LIMITED JOHN HENDERSON (HOLDINGS) LIMITED SHORT BROTHERS PLC CATERPILLAR (NI) LIMITED POWER NI ENERGY LIMITED LISSAN

ANY LIMITED FANE VALLEY CO-OPERATIVE SOCIETY LIMITED W.& R. BARNETT, LIMITED UNITED DAIRY FARMERS LIMITED NORTHERN IRELAND WATER LIMITED JOHN GRAHAM HOLDINGS LIMITED P&O FERRYMASTERS LIMITED CHARLES HURST LIMITED SHS GROUP LIMITED ALMAC GROUP LIMITED

GROUP LIMITED QUEEN’S UNIVERSITY OF BELFAST SSE AIRTRICITY ENERGY SUPPLY (NI) LIMITED DONNELLY BROS. GARAGES (DUNGANNON) LIMITED TEREX GB LIMITED SCOTTISHPOWER RENEWABLES (UK) LIMITED MUSGRAVE RETAIL PARTNERS NI LIMITED NORTH WEST BOOKMAKERS L

LLS’(FUEL OILS) LIMITED DCC ENERGY LIMITED NORTHERN IRELAND ELECTRICITY LIMITED VIRIDIAN ENERGY SUPPLY LIMITED NORTHSTONE (NI) LIMITED SANGERS (NORTHERN IRELAND) LIMITED MAXOL OIL LIMITED CAPITA MANAGED IT SOLUTIONS LIMITED NORTHERN IRELAND TRANSPORT HO

ORBROOK LABORATORIES LIMITED COCA-COLA HBC NORTHERN IRELAND LIMITED GREENFIELDS IRELAND LIMITED MCLAUGHLIN & HARVEY LIMITED SCHRADER ELECTRONICS LIMITED UNIVERSITY OF ULSTER AES (NI) LIMITED WRIGHTBUS (CORNERSTONE GROUP) TRENCH HOLDINGS L

KEERAGH ESB LIMITED LAMEX FOODS IRELAND LTD LAGAN CONSTRUCTION GROUP HOLDINGS LIMITED CREATION CONSUMER FINANCE LIMITED TOPAZ ENERGY LIMITED CHAIN REACTION CYCLES LTD DAIRY PRODUCE PACKERS LIMITED DUNNES STORES (BANGOR) LIMITED AES BALLYLUMFORD L

AIRIES (N.I.) LIMITED F.P. MCCANN LIMITED SONI LIMITED HUMAX ELECTRONICS CO. LTD DIAGEO NORTHERN IRELAND LIMITED BRETT MARTIN HOLDINGS LTD WILLSTAN LIMITED CLEARWAY DISPOSALS LIMITED UTV MEDIA PLC MUSGRAVE DISTRIBUTION LIMITED SDC TRAILERS LIMITED LAK

S (N.I.) LIMITED DEVENISH (NI) LIMITED WESTLAND HORTICULTURE LIMITED R & H HALL TRADING LIMITED A H FUEL OILS LTD H & J MARTIN HOLDINGS LIMITED MONTUPET (U.K.) LIMITED LYNAS FOODSERVICE LIMITED HOWDEN UK LIMITED RANDOX HOLDINGS LIMITED JAMES E. MCCABE L

ATE NORTHERN IRELAND LIMITED FIRST DERIVATIVES PUBLIC LIMITED COMPANY ARDS HOLDINGS LIMITED D & W CARLISLE LTD PHILIP RUSSELL LIMITED ISAAC AGNEW LIMITED BALLYRASHANE CO-OPERATIVE AGRICULTURAL & DAIRY SOCIETY LIMITED BALCAS LIMITED MAGIR LIMITED INS

ESS INVESTMENTS LIMITED BAVARIAN GARAGES (N.I) LIMITED GARDRUM HOLDINGS LIMITED D. SHANNON STEWART LIMITED T.W. SCOTT & SONS (FUELS) LIMITED WHITEMOUNTAIN QUARRIES LTD MACNAUGHTON BLAIR LIMITED CREAGH CONCRETE PRODUCTS LIMITED MOTIS IRELAND LIMITED A

ERCIALS LIMITED HALDANE, SHIELLS AND COMPANY, LIMITED MCALEER & RUSHE GROUP LIMITED THE OLD BUSHMILLS DISTILLERY COMPANY LIMITED KINGSPAN ENVIRONMENTAL LIMITED AGHAREANY LIMITED WARNER CHILCOTT (formerly Galen) MOY PARK LIMITED GLEN ELECTRIC L

A LIMITED GORTMULLAN HOLDINGS LIMITED JOHN HENDERSON (HOLDINGS) LIMITED SHORT BROTHERS PLC CATERPILLAR (NI) LIMITED POWER NI ENERGY LIMITED LISSAN COAL COMPANY LIMITED FANE VALLEY CO-OPERATIVE SOCIETY LIMITED W.& R. BARNETT, LIMITED UNITED DAIRY FAR

D NORTHERN IRELAND WATER LIMITED JOHN GRAHAM HOLDINGS LIMITED P&O FERRYMASTERS LIMITED CHARLES HURST LIMITED SHS GROUP LIMITED ALMAC GROUP LIMITED FOYLE FOOD GROUP LIMITED QUEEN’S UNIVERSITY OF BELFAST SSE AIRTRICITY ENERGY SUPPLY (NI) LIMITED DON

GARAGES (DUNGANNON) LIMITED TEREX GB LIMITED SCOTTISHPOWER RENEWABLES (UK) LIMITED MUSGRAVE RETAIL PARTNERS NI LIMITED NORTH WEST BOOKMAKERS LIMITED NICHOLLS’(FUEL OILS) LIMITED DCC ENERGY LIMITED NORTHERN IRELAND ELECTRICITY LIMITED VIRIDIAN ENERGY S

D NORTHSTONE (NI) LIMITED SANGERS (NORTHERN IRELAND) LIMITED MAXOL OIL LIMITED CAPITA MANAGED IT SOLUTIONS LIMITED NORTHERN IRELAND TRANSPORT HOLDING CO NORBROOK LABORATORIES LIMITED COCA-COLA HBC NORTHERN IRELAND LIMITED GREENFIELDS IRELAND L

UGHLIN & HARVEY LIMITED SCHRADER ELECTRONICS LIMITED UNIVERSITY OF ULSTER AES (NI) LIMITED WRIGHTBUS (CORNERSTONE GROUP) TRENCH HOLDINGS LIMITED COOLKEERAGH ESB LIMITED LAMEX FOODS IRELAND LTD LAGAN CONSTRUCTION GROUP HOLDINGS LIMITED CREATION CONS

CE LIMITED TOPAZ ENERGY LIMITED CHAIN REACTION CYCLES LTD DAIRY PRODUCE PACKERS LIMITED DUNNES STORES (BANGOR) LIMITED AES BALLYLUMFORD LIMITED TMC DAIRIES (N.I.) LIMITED F.P. MCCANN LIMITED SONI LIMITED HUMAX ELECTRONICS CO. LTD DIAGEO NORTHERN IRELAND L

MARTIN HOLDINGS LTD WILLSTAN LIMITED CLEARWAY DISPOSALS LIMITED UTV MEDIA PLC MUSGRAVE DISTRIBUTION LIMITED SDC TRAILERS LIMITED LAKELAND DAIRIES (N.I.) LIMITED DEVENISH (NI) LIMITED WESTLAND HORTICULTURE LIMITED R & H HALL TRADING LIMITED A H FUEL OILS LTD

N HOLDINGS LIMITED MONTUPET (U.K.) LIMITED LYNAS FOODSERVICE LIMITED HOWDEN UK LIMITED RANDOX HOLDINGS LIMITED JAMES E. MCCABE LIMITED ALLSTATE NORTHERN IRELAND LIMITED FIRST DERIVATIVES PUBLIC LIMITED COMPANY ARDS HOLDINGS LIMITED D & W CARLISLE LTD

LL LIMITED ISAAC AGNEW LIMITED BALLYRASHANE CO-OPERATIVE AGRICULTURAL & DAIRY SOCIETY LIMITED BALCAS LIMITED MAGIR LIMITED INSPIRED BUSINESS INVESTMENTS LIMITED BAVARIAN GARAGES (N.I) LIMITED GARDRUM HOLDINGS LIMITED D. SHANNON STEWART LIMITED T.W. SC

FUELS) LIMITED WHITEMOUNTAIN QUARRIES LTD MACNAUGHTON BLAIR LIMITED CREAGH CONCRETE PRODUCTS LIMITED MOTIS IRELAND LIMITED AGNEW COMMERCIALS LIMITED HALDANE, SHIELLS AND COMPANY, LIMITED MCALEER & RUSHE GROUP LIMITED THE OLD BUSHMILLS DIST

ANY LIMITED KINGSPAN ENVIRONMENTAL LIMITED AGHAREANY LIMITED WARNER CHILCOTT (formerly Galen) MOY PARK LIMITED GLEN ELECTRIC LIMITED DUNBIA LIMITED GORTMULLAN HOLDINGS LIMITED JOHN HENDERSON (HOLDINGS) LIMITED SHORT BROTHERS PLC CATERPILLAR (NI) L

R NI ENERGY LIMITED LISSAN COAL COMPANY LIMITED FANE VALLEY CO-OPERATIVE SOCIETY LIMITED W.& R. BARNETT, LIMITED UNITED DAIRY FARMERS LIMITED NORTHERN IRELAND WATER LIMITED JOHN GRAHAM HOLDINGS LIMITED P&O FERRYMASTERS LIMITED CHARLES HURST LIMITE

P LIMITED ALMAC GROUP LIMITED FOYLE FOOD GROUP LIMITED QUEEN’S UNIVERSITY OF BELFAST SSE AIRTRICITY ENERGY SUPPLY (NI) LIMITED DONNELLY BROS. GARAGES (DUNGANNON) LIMITED TEREX GB LIMITED SCOTTISHPOWER RENEWABLES (UK) LIMITED MUSGRAVE RETAIL PARTNERS NI L

H WEST BOOKMAKERS LIMITED NICHOLLS’(FUEL OILS) LIMITED DCC ENERGY LIMITED NORTHERN IRELAND ELECTRICITY LIMITED VIRIDIAN ENERGY SUPPLY LIMITED NORTHSTONE (NI) LIMITED SANGERS (NORTHERN IRELAND) LIMITED MAXOL OIL LIMITED CAPITA MANAGED IT SOLUTIONS L

HERN IRELAND TRANSPORT HOLDING CO NORBROOK LABORATORIES LIMITED COCA-COLA HBC NORTHERN IRELAND LIMITED GREENFIELDS IRELAND LIMITED MCLAUGHLIN & HARVEY LIMITED SCHRADER ELECTRONICS LIMITED UNIVERSITY OF ULSTER AES (NI) LIMITED WRIGHTBUS (CORNER

P) TRENCH HOLDINGS LIMITED COOLKEERAGH ESB LIMITED LAMEX FOODS IRELAND LTD LAGAN CONSTRUCTION GROUP HOLDINGS LIMITED CREATION CONSUMER FINANCE LIMITED TOPAZ ENERGY LIMITED CHAIN REACTION CYCLES LTD DAIRY PRODUCE PACKERS LIMITED DUNNES STORES (BA

D AES BALLYLUMFORD LIMITED TMC DAIRIES (N.I.) LIMITED F.P. MCCANN LIMITED SONI LIMITED HUMAX ELECTRONICS CO. LTD DIAGEO NORTHERN IRELAND LIMITED BRETT MARTIN HOLDINGS LTD WILLSTAN LIMITED CLEARWAY DISPOSALS LIMITED UTV MEDIA PLC MUSGRAVE DISTRIBUTION L

RAILERS LIMITED LAKELAND DAIRIES (N.I.) LIMITED DEVENISH (NI) LIMITED WESTLAND HORTICULTURE LIMITED R & H HALL TRADING LIMITED A H FUEL OILS LTD H & J MARTIN HOLDINGS LIMITED MONTUPET (U.K.) LIMITED LYNAS FOODSERVICE LIMITED HOWDEN UK LIMITED RANDOX HOLDINGS L

E. MCCABE LIMITED ALLSTATE NORTHERN IRELAND LIMITED FIRST DERIVATIVES PUBLIC LIMITED COMPANY ARDS HOLDINGS LIMITED D & W CARLISLE LTD PHILIP RUSSELL LIMITED ISAAC AGNEW LIMITED BALLYRASHANE CO-OPERATIVE AGRICULTURAL & DAIRY SOCIETY LIMITED BALCAS L LIMITED INSPIRED BUSINESS INVESTMENTS LIMITED BAVARIAN GARAGES (N.I) LIMITED GARDRUM HOLDINGS LIMITED D. SHANNON STEWART LIMITED T.W. SCOTT & SONS (FUELS) LIMITED WHITEMOUNTAIN QUARRIES LTD MACNAUGHTON BLAIR LIMITED CREAGH CONCRETE PRODUCTS LIMITED

ND LIMITED AGNEW COMMERCIALS LIMITED HALDANE, SHIELLS AND COMPANY, LIMITED MCALEER & RUSHE GROUP LIMITED THE OLD BUSHMILLS DISTILLERY COMPANY LIMITED KINGSPAN ENVIRONMENTAL LIMITED AGHAREANY LIMITED WARNER CHILCOTT (formerly Galen) MOY PARK L

ELECTRIC LIMITED DUNBIA LIMITED GORTMULLAN HOLDINGS LIMITED JOHN HENDERSON (HOLDINGS) LIMITED SHORT BROTHERS PLC CATERPILLAR (NI) LIMITED POWER NI ENERGY LIMITED LISSAN COAL COMPANY LIMITED FANE VALLEY CO-OPERATIVE SOCIETY LIMITED W.& R. BARNETT, L

D DAIRY FARMERS LIMITED NORTHERN IRELAND WATER LIMITED JOHN GRAHAM HOLDINGS LIMITED P&O FERRYMASTERS LIMITED CHARLES HURST LIMITED SHS GROUP LIMITED ALMAC GROUP LIMITED FOYLE FOOD GROUP LIMITED QUEEN’S UNIVERSITY OF BELFAST SSE AIRTRICITY ENERGY S

MITED DONNELLY BROS. GARAGES (DUNGANNON) LIMITED TEREX GB LIMITED SCOTTISHPOWER RENEWABLES (UK) LIMITED MUSGRAVE RETAIL PARTNERS NI LIMITED NORTH WEST BOOKMAKERS LIMITED NICHOLLS’(FUEL OILS) LIMITED DCC ENERGY LIMITED NORTHERN IRELAND ELECTRICITY L

AN ENERGY SUPPLY LIMITED NORTHSTONE (NI) LIMITED SANGERS (NORTHERN IRELAND) LIMITED MAXOL OIL LIMITED CAPITA MANAGED IT SOLUTIONS LIMITED NORTHERN IRELAND TRANSPORT HOLDING CO NORBROOK LABORATORIES LIMITED COCA-COLA HBC NORTHERN IRELAND L

FIELDS IRELAND LIMITED MCLAUGHLIN & HARVEY LIMITED SCHRADER ELECTRONICS LIMITED UNIVERSITY OF ULSTER AES (NI) LIMITED WRIGHTBUS (CORNERSTONE GROUP) TRENCH HOLDINGS LIMITED COOLKEERAGH ESB LIMITED LAMEX FOODS IRELAND LTD LAGAN CONSTRUCTION GROUP HOL

D CREATION CONSUMER FINANCE LIMITED TOPAZ ENERGY LIMITED CHAIN REACTION CYCLES LTD DAIRY PRODUCE PACKERS LIMITED DUNNES STORES (BANGOR) LIMITED AES BALLYLUMFORD LIMITED TMC DAIRIES (N.I.) LIMITED F.P. MCCANN LIMITED SONI LIMITED HUMAX ELECTRONICS C

O NORTHERN IRELAND LIMITED BRETT MARTIN HOLDINGS LTD WILLSTAN LIMITED CLEARWAY DISPOSALS LIMITED UTV MEDIA PLC MUSGRAVE DISTRIBUTION LIMITED SDC TRAILERS LIMITED LAKELAND DAIRIES (N.I.) LIMITED DEVENISH (NI) LIMITED WESTLAND HORTICULTURE LIMITED R & H

NG LIMITED A H FUEL OILS LTD H & J MARTIN HOLDINGS LIMITED MONTUPET (U.K.) LIMITED LYNAS FOODSERVICE LIMITED HOWDEN UK LIMITED RANDOX HOLDINGS LIMITED JAMES E. MCCABE LIMITED ALLSTATE NORTHERN IRELAND LIMITED FIRST DERIVATIVES PUBLIC LIMITED COMPANY

NGS LIMITED D & W CARLISLE LTD PHILIP RUSSELL LIMITED ISAAC AGNEW LIMITED BALLYRASHANE CO-OPERATIVE AGRICULTURAL & DAIRY SOCIETY LIMITED BALCAS LIMITED MAGIR LIMITED INSPIRED BUSINESS INVESTMENTS LIMITED BAVARIAN GARAGES (N.I) LIMITED GARDRUM HOLDINGS L

NNON STEWART LIMITED T.W. SCOTT & SONS (FUELS) LIMITED WHITEMOUNTAIN QUARRIES LTD MACNAUGHTON BLAIR LIMITED CREAGH CONCRETE PRODUCTS LIMITED MOTIS IRELAND LIMITED AGNEW COMMERCIALS LIMITED HALDANE, SHIELLS AND COMPANY, LIMITED MCALEER & RUSHE G

D THE OLD BUSHMILLS DISTILLERY COMPANY LIMITED KINGSPAN ENVIRONMENTAL LIMITED AGHAREANY LIMITED WARNER CHILCOTT (formerly Galen) MOY PARK LIMITED GLEN ELECTRIC LIMITED DUNBIA LIMITED GORTMULLAN HOLDINGS LIMITED JOHN HENDERSON (HOLDINGS) LIMITED

HERS PLC CATERPILLAR (NI) LIMITED POWER NI ENERGY LIMITED LISSAN COAL COMPANY LIMITED FANE VALLEY CO-OPERATIVE SOCIETY LIMITED W.& R. BARNETT, LIMITED UNITED DAIRY FARMERS LIMITED NORTHERN IRELAND WATER LIMITED JOHN GRAHAM HOLDINGS LIMITED P&O FERRYMA

D CHARLES HURST LIMITED SHS GROUP LIMITED ALMAC GROUP LIMITED FOYLE FOOD GROUP LIMITED QUEEN’S UNIVERSITY OF BELFAST SSE AIRTRICITY ENERGY SUPPLY (NI) LIMITED DONNELLY BROS. GARAGES (DUNGANNON) LIMITED TEREX GB LIMITED SCOTTISHPOWER RENEWABLES (UK) L

RAVE RETAIL PARTNERS NI LIMITED NORTH WEST BOOKMAKERS LIMITED NICHOLLS’(FUEL OILS) LIMITED DCC ENERGY LIMITED NORTHERN IRELAND ELECTRICITY LIMITED VIRIDIAN ENERGY SUPPLY LIMITED NORTHSTONE (NI) LIMITED SANGERS (NORTHERN IRELAND) LIMITED MAXOL OIL LIMITED C

GED IT SOLUTIONS LIMITED NORTHERN IRELAND TRANSPORT HOLDING CO NORBROOK LABORATORIES LIMITED COCA-COLA HBC NORTHERN IRELAND LIMITED GREENFIELDS IRELAND LIMITED MCLAUGHLIN & HARVEY LIMITED SCHRADER ELECTRONICS LIMITED UNIVERSITY OF ULSTER AES (NI) L

TBUS (CORNERSTONE GROUP) TRENCH HOLDINGS LIMITED COOLKEERAGH ESB LIMITED LAMEX FOODS IRELAND LTD LAGAN CONSTRUCTION GROUP HOLDINGS LIMITED CREATION CONSUMER FINANCE LIMITED TOPAZ ENERGY LIMITED CHAIN REACTION CYCLES LTD DAIRY PRODUCE PACKERS L

ES STORES (BANGOR) LIMITED AES BALLYLUMFORD LIMITED TMC DAIRIES (N.I.) LIMITED F.P. MCCANN LIMITED SONI LIMITED HUMAX ELECTRONICS CO. LTD DIAGEO NORTHERN IRELAND LIMITED BRETT MARTIN HOLDINGS LTD WILLSTAN LIMITED CLEARWAY DISPOSALS LIMITED UTV MED

RAVE DISTRIBUTION LIMITED SDC TRAILERS LIMITED LAKELAND DAIRIES (N.I.) LIMITED DEVENISH (NI) LIMITED WESTLAND HORTICULTURE LIMITED R & H HALL TRADING LIMITED A H FUEL OILS LTD H & J MARTIN HOLDINGS LIMITED MONTUPET (U.K.) LIMITED LYNAS FOODSERVICE LIMITED HOWD

D RANDOX HOLDINGS LIMITED JAMES E. MCCABE LIMITED ALLSTATE NORTHERN IRELAND LIMITED FIRST DERIVATIVES PUBLIC LIMITED COMPANY ARDS HOLDINGS LIMITED D & W CARLISLE LTD PHILIP RUSSELL LIMITED ISAAC AGNEW LIMITED BALLYRASHANE CO-OPERATIVE AGRICULTURAL &

Sponsored by

TY LIMITED BALCAS LIMITED MAGIR LIMITED INSPIRED BUSINESS INVESTMENTS LIMITED BAVARIAN GARAGES (N.I) LIMITED GARDRUM HOLDINGS LIMITED D. SHANNON STEWART LIMITED T.W. SCOTT & SONS (FUELS) LIMITED WHITEMOUNTAIN QUARRIES LTD MACNAUGHTON BLAIR LIMITED CR

RETE PRODUCTS LIMITED MOTIS IRELAND LIMITED AGNEW COMMERCIALS LIMITED HALDANE, SHIELLS AND COMPANY, LIMITED MCALEER & RUSHE GROUP LIMITED THE OLD BUSHMILLS DISTILLERY COMPANY LIMITED KINGSPAN ENVIRONMENTAL LIMITED AGHAREANY LIMITED WARNER CHILCOTT

LIMITED GLEN ELECTRIC LIMITED DUNBIA LIMITED GORTMULLAN HOLDINGS LIMITED JOHN HENDERSON (HOLDINGS) LIMITED SHORT BROTHERS PLC CATERPILLAR (NI) LIMITED POWER NI ENERGY LIMITED LISSAN COAL COMPANY LIMITED FANE VALLEY CO-OPERATIVE SOCIETY LIMITED W.& R. BA

D UNITED DAIRY FARMERS LIMITED NORTHERN IRELAND WATER LIMITED JOHN GRAHAM HOLDINGS LIMITED P&O FERRYMASTERS LIMITED CHARLES HURST LIMITED SHS GROUP LIMITED ALMAC GROUP LIMITED FOYLE FOOD GROUP LIMITED QUEEN’S UNIVERSITY OF BELFAST SSE AIRTRICITY EN

Y (NI) LIMITED DONNELLY BROS. GARAGES (DUNGANNON) LIMITED TEREX GB LIMITED SCOTTISHPOWER RENEWABLES (UK) LIMITED MUSGRAVE RETAIL PARTNERS NI LIMITED NORTH WEST BOOKMAKERS LIMITED NICHOLLS’(FUEL OILS) LIMITED DCC ENERGY LIMITED NORTHERN IRELAND ELECT

D VIRIDIAN ENERGY SUPPLY LIMITED NORTHSTONE (NI) LIMITED SANGERS (NORTHERN IRELAND) LIMITED MAXOL OIL LIMITED CAPITA MANAGED IT SOLUTIONS LIMITED NORTHERN IRELAND TRANSPORT HOLDING CO NORBROOK LABORATORIES LIMITED COCA-COLA HBC NORTHERN IRELAND L

TOP 100 COMPANIES 1-20

Rank

Company

2015

2014

Activity

Moy Park

Year Ending

Turnover £000s

Profit/Loss

Net Worth

Latest Year Sales

Previous Sales

£000s

31/12/2013

1,201,148

1,089,570

33,780

196,606

31/03/2014

845,177

812,670

68,544

291,184

30/03/2014

764,242

726,459

4,611

53,123

31/12/2013

666,860

687,880

-3,958

290,354

31/12/2014

663,634

642,761

21,206

124,185

31/12/2014

651,669

580,361

23,383

415,273

31/12/2013

626,250

795,848

28,707

171,896

31/03/2014

585,900

607,200

21,100

58,200

30/09/2014

553,888

553,935

6,765

73,662

30/09/2014

530,491

576,646

19,330

70,826

31/03/2015

490,941

418,096

7,435

42,909

31/07/2014

488,049

499,728

26,984

189,275

31/03/2014

433,155

418,424

6,112

4,609

31/03/2014

432,702

425,599

138,457

1,083,056

31/12/2013

410,468

387,433

163

3,397

31/12/2013

395,960

346,950

6,034

50,638

03/03/2014

393,273

391,229

19,415

45,914

30/09/2014

341,598

325,336

12,623

181,502

31/12/2013

298,763

259,929

-1,995

16,653

31/07/2014

298,400

286,090

14,900

516,755

Poultry & Meat Processors

Glen Electric Electrical Appliance Manufacturers

NEW

Dunbia Meat Processors

Gortmullan (Holdings) Concrete Products, formerly Quinn Group

John Henderson (Holdings) Food Wholesaler & Retailer

Short Brothers Aerospace Manufacturers

Caterpillar NI Generator Manufacturers

Power NI Energy Electricity Supplier

Fane Valley Co-operative Society Dairy Producers

Lissan Coal Company Fuel Wholesalers

John Graham Holdings Builders

W.& R. Barnett Grain Importers

United Dairy Farmers Milk Processors

Northern Ireland Water Water Distributors

P&O Ferrymasters Freight Transporters

Charles Hurst Motor Retailers

SHS Group Wholesaler

Almac Group Pharmaceutical Manufacturer

Foyle Food Group Meat Processor

Queen’s University of Belfast University

Figures researched and compiled by D&B T: 0845 601 2677 44

TOP 100 COMPANIES 21-40

Rank

Company

2015

2014

Activity

SSE Airtricity Energy Supply NI

Year Ending

Turnover £000s

Profit/Loss

Net Worth

Latest Year Sales

Previous Sales

£000s

31/03/2014

296,864

268,446

13,560

8,586

31/10/2013

290,021

189,005

118

14,710

31/12/2013

282,202

286,973

42,464

157,854

31/12/2014

279,000

275,800

102,800

594,700

31/12/2013

278,007

285,583

906

19,641

31/12/2013

277,916

296,562

11,651

-72,405

31/05/2014

264,348

315,499

30,828

72,307

31/03/2014

254,121

276,590

2,180

11,340

31/12/2014

243,800

258,000

61,500

242,000

31/03/2014

242,120

186,442

15,972

49,470

31/12/2013

239,445

298,755

6,093

88,844

30/09/2014

220,885

225,612

77,643

13,099

31/12/2013

207,868

201,205

1,599

15,286

31/10/2013

200,893

139,880

-1,971

11,624

31/03/2014

200,339

199,778

-1,990

25,026

31/07/2014

199,217

191,723

14,157

282,935

01/08/2014

198,775

188,456

22,194

125,484

31/12/2013

197,167

193,122

7,051

40,902

31/12/2014

196,956

184,629

447

4,510

31/12/2014

195,838

157,734

-3,620

37,327

Electricity Generation

Donnelly Bros. Garages Motor Retailers

Terex GB Construction Materials Manufacturers

Scottishpower Renewables UK Electricity Distribution

Musgrave Retail Partners NI Food Wholesaler

North West Bookmakers Gambling & Betting Services

Nicholls’ (Fuel Oils) Fuel Distributors

DCC Energy Petroleum Wholesaler

Northern Ireland Electricity Electricity Generation

Viridian Energy Supply Electricity Generators

Northstone NI Builders

Sangers Northern Ireland Pharmaceutical Distribution

Maxol Oil Fuel Distribution

Capita Managed IT Solutions IT Systems

Northern Ireland Transport Hldg Co Transportation

University of Ulster University

Norbrook Laboratories Pharmaceutical Manufacturers

Coca-Cola HBC Northern Ireland Beverage Manufacturers

Greenfields Ireland Dairy Produce Wholesalers

McLaughlin & Harvey Builders

Figures researched and compiled by D&B T: 0845 601 2677 AUGUST 2015

TOP 100 COMPANIES 41-60

Rank

Company

2015

2014

Activity

Shrader Electronics

Year Ending

Turnover £000s

Profit/Loss

Net Worth

Latest Year Sales

Previous Sales

£000s

31/12/2013

193,322

172,629

22,189

46,118

31/12/2013

187,568

160,695

58,028

86,583

30/09/2013

178,907

156,946

3,479

23,762

31/12/2013

174,185

164,271

2,825

17,415

31/12/2013

169,054

169,298

12,063

9,597

31/03/2014

162,622

171,226

2,264

2,880

31/03/2014

157,907

174,288

4,834

36,175

31/12/2013

151,264

147,792

33,825

139,976

31/03/2014

148,882

171,869

710

31/12/2013

144,864

155,580

4,833

23,912

31/12/2013

141,316

136,564

557

46,720

01/02/2014

140,526

157,558

13,893

317,049

31/12/2013

139,018

124,839

3,074

79,520

31/12/2013

136,370

131,546

3,068

-12,739

31/01/2015

135,588

91,027

10,151

86,098

30/09/2013

131,403

105,259

16,224

14,041

31/12/2013

129,676

95,276

1,583

7,447

30/06/2014

128,140

134,127

3,473

33,558

31/12/2013

124,745

116,109

3,045

36,423

31/12/2013

121,820

122,638

4,005

40,105

Tyre Pressure Gauge Manufacturer

Aes NI Limited Electricity Generation

Wrightbus (Cornerstone Group) Bus Manufacturer

Trench Holdings Construction & Quarrying

Coolkeeragh ESB Power Generator

Lamex Foods Ireland Food Distributor

Lagan Construction Group Holdings Builders

Creation Consumer Finance Consumer Finance

Topaz Energy Petrol Wholesalers

Chain Reaction Cycles Cycle Retailers

Dairy Produce Packers Dairy Processor

Dunnes Stores (Bangor) Retailer

AES Ballylumford Electricity Generation

TMC Dairies NI Dairy Processor

F.P. McCann Concrete Engineers

Soni Electricity Distributors

Humax Electronics Electronic Manufacturers

Diageo Northern Ireland Drinks Manufacturer

Brett Martin Holdings Building Suppliers

Willstan Betting & Gambling Services

Figures researched and compiled by D&B T: 0845 601 2677 46

TOP 100 COMPANIES 61-80

Rank

Company

2015

2014

Activity

Clearway Disposals

Year Ending

Turnover £000s

Profit/Loss

Net Worth

Latest Year Sales

Previous Sales

£000s

31/12/2013

120,757

121,132

-2,027

57,351

31/12/2014

116,043

107,771

17,245

-67,661

31/12/2013

109,442

121,276

-990

1,899

31/03/2014

108,203

92,439

3,947

21,056

28/12/2013

107,937

87,631

348

-4,821

31/05/2014

102,672

95,093

1,823

7,392

29/12/2013

102,427

93,839

6,598

17,655

31/07/2014

101,966

117,590

1,035

10,665

31/12/2014

100,319

98,811

303

2,269

31/12/2013

98,648

115,482

-9,614

-335

31/12/2013

93,924

70,700

14,180

42,286

31/10/2013

93,495

80,447

3,645

18,480

31/12/2013

93,315

69,194

12,535

29,138

31/12/2013

90,929

72,213

12,923

24,054

31/12/2013

90,448

91,194

2,684

38,826

31/12/2013

87,149

77,104

7,605

33,274

28/02/2015

83,216

96,902

17,476

-33,597

31/12/2013

82,349

81,168

531

8,289

31/07/2014

80,828

83,447

522

3,713

31/12/2013

80,784

76,696

1,818

12,648

Waste & Scrap Recycling

UTV Media TV Production

Musgrave Distribution Grocery Wholesaler

SDC Trailers Lorry Trailer Manufacturers

Lakeland Dairies NI Dairy Processor

Devenish NI Animal Nutrition Manufacturers

Westland Horticulture Garden Centres

R&H Hall Trading Grain Importers

A H Fuel Oils Fuel Distributors

H&J Martin Holdings Builders

Montupet UK Aluminium Motor Part Manufacturers

Lynas Foodservice Frozen Food Distributor

Howden UK Fan & Heater Manufacturers

Randox Holdings Clinical Diagnostics Manufacturer

James E. McCabe Drinks Distributors

Allstate Northern Ireland Software Development

First Derivatives IT Software for Financial Services

Ards Holdings (Gilbert-Ash) Construction

D & W Carlisle Fuel & Supermarket Retailer

Philip Russell Drinks Distribution

Figures researched and compiled by D&B T: 0845 601 2677 AUGUST 2015

TOP 100 COMPANIES 81-100

Rank

Company

2015

2014

Activity

Isaac Agnew

Year Ending

Turnover £000s

Profit/Loss

Net Worth

Latest Year Sales

Previous Sales

£000s

31/12/2013

80,248

67,428

1,655

2,717

31/12/2013

77,847

69,813

311

12,413

31/12/2013

76,347

73,788

-4,789

-1,049

31/08/2014

76,026

76,742

8,064

-47,929

31/12/2013

75,127

59,855

666

1,529

31/12/2013

75,101

73,773

2,003

2,363

31/12/2013

75,075

79,226

7,746

41,182

30/04/2014

74,920

53,660

1,384

-6,187

31/12/2014

74,869

69,304

220

2,041

31/12/2013

73,108

63,137

5,658

35,896

31/12/2013

72,502

71,065

895

2,766

31/03/2014

72,450

48,266

-1,866

4,051

30/06/2014

70,875

48,551

1,169

31/12/2013

70,760

67,309

1,905

2,340

31/12/2013

70,634

68,139

1,823

22,306

30/06/2014

69,050

59,582

22,052

119,701

30/09/2014

68,459

70,145

1,735

12,271

31/12/2013

67,975

56,778

5,380

32,805

31/12/2013

66,907

51,063

2,880

11,109

31/12/2013

65,578

60,798

2,435

71,148

Motor Distributor

NEW

Ballyrashane Co-operative Dairy Producers

Balcas Timber Manufacturer

Magir Pharmacy Operations

NEW

Inspired Business Investments Vehicle Sales & Servicing

Bavarian Garages NI Motor Distributors

Gardrum Holdings Auction Sales

NEW

D. Shannon Stewart Chemists

T. W. Scott & Sons (Fuels) Fuel Distribution

Whitemountain Quarries Quarrying

MacNaughton Blair Construction Machine Distribution

NEW

Creagh Concrete Products Concrete Manufacturer

NEW

Motis Ireland Haulage

Agnew Commercials Commercial Motor Distributor

Haldane Shiells Building Product Distributor

NEW

Old Bushmills Distillery Company Spirits Distributor

McAleer & Rushe Group Builders

NEW

Kingspan Environmental Building Suppliers

NEW

Aghareany Crawler Track Manufacturer

100

NEW

Warner Chilcott (formerly Galen) Pharmaceutical Manufacturer

Figures researched and compiled by D&B T: 0845 601 2677 48

PROUD TO BE NUMBER IN THE ULSTER BUSINESS TOP 00 Producing fresh, locally farmed poultry for over 70 years. Our commitment to quality from farm to fork makes Moy Park the food industry leader of choice. www.moypark.com

TOP 100 ANALYSIS

The Top 100 in numbers

TOP 100 ANALYSIS

AUGUST 2015

Moy Park

While it may be another year for Moy Park as the biggest company in Northern Ireland, this year it’s taking the top spot as the final details of a £960m ($1.5bn) takeover deal are put in place. The chicken processing firm has been bought by the world’s second largest food company JBS in a sale which sees ownership

passed from fellow Brazilian giant Marfrig. The transaction has been approved by the Board of Directors of JBS and is subject to the regulatory approvals, including the European Union antitrust authorities, but is expected to be completed by the end of the year. Despite the change of owner, growth continues apace at the Craigavon-based firm with the processing milestone of five million chickens a week reached earlier this year across its Dungannon, Ballymena, Anwick and Ashbourne sites.

In July last year, Moy Park announced a £170m expansion creating over 600 new jobs across three sites in Dungannon, Craigavon and Ballymena. The birds are grown by the 800 farmers it works with across the UK (600 in Northern Ireland and 200 in Great Britain) and production is expected to increase further as part of a “broiler expansion programme” which will see over 250 new poultry houses under construction by the end of the year. Its end products include both own-label

and Moy Park-branded whole chickens and chicken products – it supplies 25% of the European chicken market – as well as turkey, a relatively new addition to the flock.

people work for Moy Park. Chief executive Janet McCollum took over at the top of the company in January 2014 having joined Moy Park in 1993.

Around 6,300 people are employed by the company in Northern Ireland in Craigavon, Dungannon and Ballymena while around 5,400 work in Great Britain in its Anwick, Ashborne, Grantham and Huntingdon sites.

She recently welcomed the proposed takeover by JBS. “The Moy Park team, together with our dedicated farming partners, will continue to meet and exceed the needs of our customers and consumers throughout the UK, Ireland and mainland Europe providing innovative, top quality products underpinned by the highest standards of animal welfare.”

Other sites can be found in France where 800 people are employed, Holland where 100 people work and the Republic where 50

AUGUST 2015

Pictured are, from left: Mike Mullan, HR Director Europe; Alan Gibson, UK & Ireland Director; Keith Irvine, Supply Chain Director Europe; and Janet McCollum, Chief Executive. Not present in the picture are: Ursula Lavery, Technical Director Europe; Barry McGrane, Chief Financial Officer; Eric Forin, Keystone Europe Director; and Richard Macdonald CBE, Nonexecutive Director.

TOP 100 COMPANIES

Dunbia’s five quarters of success By 1983 it had opened a slaughter and boning hall in Dungannon which became so busy an extension was added in 1990 and as well as a retail packing arm a couple of years afterwards. An acquisitive spree followed with the purchase of County Foods in Lancashire in 1998, Excel Meats and Newgrange Meats in the Republic and Oriel and Jones in Wales in 2001, Kepack in Preston and Rhinds of Elgin in 2007, Stephenson and Company’s pork facility in Ballymena in 2009, G Wood & Sons in Mansfield in 2013 and Lynch Quality Meats in Ayr in 2014. Its Dungannon plant now employs nearly 1,000 people in the procurement, slaughter and de-boning of cattle and sheep, as well as wholesale distribution and retail packing of beef and lamb. Earlier this year it announced further expansion at the base, creating 209 jobs over the next three years as part of a £27m investment programme in a new boning hall, helped by £2m worth of Invest NI support. Jim Dobson now acts as Group Chief Executive at the company and is involved in all operations across its sites.

Minister Arlene Foster with Dunbia CEO Jack Dobson.

Dunbia’s appearance for the first time at such a lofty position in the Top 100 might come as a surprise to list aficionados but won’t for anyone who has been following the stellar growth of the meat processing firm.

Its inclusion is a result of becoming a limited company, having previously been classified as private unlimited and not required to release its accounts. With sales of £764m, it has rightfully found its place in the Top 100 list and not without plenty of hard work and vision by its founders. Dunbia’s main business is the supply of meat – including beef, lamb and pork – to a range of customers throughout the UK and further afield. Jack and Jim Dobson started the business nearly 40 years ago in 1976 with a single butchers shop in Moygashel, County Tyrone, under the Dungannon Meats banner.

Jack Dobson is Group Executive Director focused on exports to China of so-called “fifth quarter” products as well as hides and skins for processing. The export market is one which Dunbia sees as hugely important for the future of the company. At a recent event at Balmoral Show sponsored by Ulster Bank, Jack Dobson said Northern Ireland’s food companies need to work together to boost external sales. “Members of the local food supply chain rely on each other to stay in business, and as we face similar challenges, it makes sense for us to work together to solve them. Our competition is not with each other, but with other countries who are trying to be ahead of the game in a fast-moving market. To be successful, we need to make sure we are, and are perceived to be, promoting all aspects of our food chain as best in class.” “As well as the home market, exports are key to our agri-food industry, with new and potentially lucrative markets opening up in the US, the Middle East and China. Considered collaboration with the Republic of Ireland to maximise our common interests in opening up new markets, must therefore be on the agenda going forward.”

2015 IRELAND

Are you fast enough? Are you a company operating in the software, hardware, communications, media, clean-tech or life sciences sectors? If so, then enter the Deloitte Technology Fast 50 awards and take your place among Irelandâ&#x20AC;&#x2122;s fastest growing technology companies. Apply now at fast50.ie or contact Claire McAleenan at clmcaleenan@deloitte.co.uk or +44 28 9053 1180 Closing date for entries is Friday 11 September, 2015

Fane Valley

Fane Valley can count itself as one of the oldest companies in Northern Ireland and also one with the most owners.

enough to grow its business through a clever mix of both organic and acquisitive growth.

Around 1,800 farmers from across the Province have a stake in the co-operative, one which has forged its way into the Top 100 companies listing by being flexible enough to react to the changing agricultural landscape, innovative enough to adapt its offering to suit changing consumer needs, and ambitious

Fane Valley’s diverse range of activities include an animal feed milling division, which manufactures 270,000 tons-a-year for Northern Ireland’s pigs, poultry and ruminant animals at its Newry and Omagh sites, and 13 agricultural retail stores, which sell everything from sheep dip to a body warmer.

It started out life in 1903 after a band of farmers across the Armagh/Monaghan border came together to collectively market their butter, and from there it has managed to grow to a major business turning over £553m.

Its milk division – Fane Valley Dairies – is based in Banbridge and buys 300 million litres of milk a year from 220 local farmers before processing into dried milk powder and butter and exporting it to 30 countries around the world. Plans to invest £12m in the plant’s technology in the next three years are expected to see these numbers increase further. Red meat processing is a more recent addition to the company’s history, with a first investment coming in the 1990s, just prior to the emergence of BSE. While a stumbling block for the enterprise,

Barrai McConville, Financial Controller; Ronan McCanny, Head of Operations; Glenn Speer, Sales Director; and Trevor Lockhart, Chief Executive.

the outbreak drove the business to invest in the Republic of Ireland through Slaney meats and since then it has grown under the Linden Foods business across the island. It’s meat business also includes Irish Country Meats in Navan, Kettyle Irish Foods in Fermanagh, A. Lonhienne, a lamb processor in Belgium and Hilton Meat Products from Carrickfergus, a joint venture which processes offal.

Such growth has been impressive, but not without trial, including the partition of Ireland in 1921 which effectively lost the business its farmer customers in Monaghan.

Meanwhile, from a consumer point of view Fane Valley is probably best known for its porridge oats brand White’s, a 170-year old name which exports product all over the world.

But, proving that innovation can overcome all obstacles, Fane Valley opened a new milk processing facility in Armagh City capable of pasteurising milk and therefore opening up new markets to schools and the like.

AUGUST 2015

Having survived that setback, progress was then curtailed when the government set up its own milk processing facility in 1943 in Tassagh, only 15 miles from Fane Valley’s plant.

It’s this ability to react to change which has stood in Fane Valley’s favour since then, helped by chief executive Trevor Lockhart. He said a strategy of growth will remain the focus in the years ahead as he looks to make sure his farmer members have a viable future in agriculture. “The fundamental foundation on which a co-operative is built is that farmers can achieve more working together than working individually,” he told Ulster Business. “We hold that philosophy true as much now as we did when Fane Valley was founded.”

INTERVIEW

A day in the boss’s shoes Every wondered how a chief executive spends their day? We caught up with the boss of one of the Top 100 companies, NI Water’s Sara Venning.

05:30: I like to think my day starts at 5:30, however, I always cancel the alarm and take five minutes to motivate myself and actually get up! With running gear on, headphones adjusted and phone in my pocket, I hit the country road for a 5k run. 06:15 – 07:30: Shower and wake up the rest of the family, which consists of three sleepy girls and a husband. I am out of the house by 7:30 leaving Dad in charge of breakfasts and morning dramas! 08:00 – 09:00: This is the quiet time in my day, when I can read through emails, documents that require my approval and some customer correspondence. I try to answer most of this myself, as it is by far the best way of staying in touch with the issues that are concerning customers. 09:00 – 11:00: First meeting of the day is with my Executive Committee. We review our performance with a keen eye on customer impact. We also ensure necessary approvals are in place to enable staff to get on with the smooth running of our business. 11:00 – 1:00: Meet with the team taking forward our transformation programme. Constantly improving customer service while continuing to implement significant efficiencies is a top priority. It costs 33% (£66m) per annum less to run the business

than in 2010/11 and we reduced average bills for our business customers by 4% in 2014/15. 1:00 – 2:00: Working lunch where I receive an update on NI Water’s capital works programme. We are planning to spend £155m per annum on our asset base. Each day these assets provide 600 million litres of drinking water and treat 300 million litres of wastewater. The future availability of funding is discussed, as it remains a concern that public expenditure cuts now will have a significant impact on service provision in the future. 2:00 – 4:00: Head to our Bretland site in Belfast, where staff have gathered for a ‘Meet the Executive’ event. We hold these at sites across Northern Ireland, throughout the year. I make it a priority to attend them all, as I love to get out and meet the staff who are delivering our services to customers. Topics can range from uniform requirements to new technology, to worries over pension changes. 4:00 – 6:00: Back to the office, time for coffee and catch up on the day’s emails and follow up on any issues raised in the day’s

meetings. I try to leave the office at 6:00. 6:30 – 8:30: Tea time and family catch up time – checking home works and hearing all about school activities. My two older girls are at ‘big school’ so more independent, but the youngest one still enjoys a bedtime story and cuddle! 8:30 – 10:00: Prepare for the next day, and final check on emails and phone. The weather can have a major impact on NI Water. We are 24/7 with resources and systems always in place to monitor customer contacts and our equipment. If weather is particularly bad I may get a call from the Duty Officer to update me how our systems are coping and if any customers are experiencing problems. 10:00: Wind down, relax and catch up on the day’s events and priorities for the next day with my husband. He has been hugely supportive over the years and without him and the practical help of my mother-in-law I’d be lost. 11:00: Lights out, exhausted and ready to start again tomorrow!

HIGH

Rated No.5 in the TOP 100 Northern Ireland Companies by Ulster Business Magazine. Top five reasons to join us: 1. A partnership with a key focus of driving retail sales, improving margin and lowering your costs. 2. Almost 4 million invested annually into an unbeatable marketing support package. 3. Focus on Fresh: over 1300 fresh lines to order from on daily basis, delivered within 24hours. 4. One of the largest own brand product ranges available in the convenience sector throughout Northern Ireland. 5. It is the largest convenience retailer supplying over 400 stores across five brands.

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Charles Hurst

op 100 companies come and go but some have the ability to stick around for a long, long time.

Charles Hurst is one such name which has been around for longer than most people can remember as a dominant player in the motor industry. It was formed in 1911 on Montgomery Street in Belfast and was initially focused on building bodies onto the chassis of cars and lorries. In those early years it picked up franchises for the likes of Crossley cars, Dennis lorries and Rover and also turned its hand to ammunition manufacturing during both the First and Second World Wars.

The post war years saw the company add Land Rover to its portfolio, along with MG and eventually Renault and in the 70s it continued on the acquisition trail before being bought itself by TBF Thompson in 1985. Lookers became the new owners in 1996 and have remained so since then, adding the likes of Peugeot, through the purchase of AS Baird, Toyota and Lexus through the purchase of Neville Johnston, Chrysler through David Prentice, and Vauxhall from Savilles Vauxhall, as well as many more, including Ferrari shown on these pages. It now employs more than 700 people and has 18 franchises which it operates from its 20-acre Boucher Road, Belfast head quarters â&#x20AC;&#x201C; the largest automotive park in Europe â&#x20AC;&#x201C; as well as from its centres throughout Northern Ireland.

This ‘spoke and wheel’ approach impressed Lookers so much it has implemented the process across its other UK businesses and it’s no surprise a number of Charles Hurst bosses have gone on to senior positions in the London-listed company. The Charles Hurst business wasn’t immune to the downturn in the economy since 2007 but it has weathered the storm, and then some, because of its spread of marques, according to Group Operations Colin McNabb. “There’s a piston effect,” he said. “When demand eases in one franchise, it tends to increase in another.”

to the same level they were before the credit crunch, and that provides huge opportunity, according to Colin. “There’s opportunity to grow the business and that’s what we’re focused on. We provide some of the best customer service in the business and have excellent relationships with manufacturers so we’ll definitely be able to grow market share further.”

Colin McNab, Group Operations Director, Charles Hurst at the Ferrari showroom on Belfast’s Boucher Road.

Latest figures for new car registrations in Northern Ireland show a steady recovery in the market but sales aren’t back

AUGUST 2015

RECRUITMENT

Move over Generation X John Moore, Regional Managing Director at Hays, explains how Generation X is having to learn to work alongside an influx of younger, more tech savvy colleagues: Generation Y.

rowth in the Northern Ireland economy continues, albeit at a slightly slower rate over the past quarter. But the reassurance from Ulster Bank is that we’re in a better position now than when we started the year. So the news is positive. While moving towards growth and stability is a great position to be in, businesses will soon be faced with another challenge: how do you manage and develop new talent coming into the company to support growth? If we aim to be a business poised to exploit growth opportunities, then how can we position ourselves as a platform to grow our talent? That means establishing the proper environment and tone. Adapting to the increasingly influential Generation Y professional must now be factored into every organisation’s management culture. Newsweek once described Generation X, the disillusioned offspring of the Baby Boomers, as “the generation that dropped out without ever turning on the news or tuning in to the social issues around them”. Growing up in a world where traditional values were morphing into unsettling new models, the Gen Xers searched for stability as working adults. Hierarchic management patterns in the workplace contributed to a feeling of order, and spending your working life with the same employer was commonplace.

Fast-forward to the noughties and the Gen Xers are sharing the workplace with a brand new generation of technology-savvy and ultra-connected individuals. Having grown up on the international digital highway, the Gen Yers, born in and around the ’80s, live in a world where relationships form fast, travel is easy and a typical individual in the UK will reportedly have nine jobs in a lifetime. In 2014 Hays produced the results of a survey capturing the views of 1,000 Gen Yers. It focused on the area of leadership at work to identify approaches most attractive to future talent. The report confirmed that a dictatorial style of management is now obsolete. In order to thrive at work Gen Yers require a leader who shows decisiveness, integrity, confidence and directness, and will coach and motivate them through their career development whilst being able to support them on a personal level. For an older generation of senior managers, it is not about being ‘down with the kids’; rather it is about giving emotional intelligence its place in employer-employee relationships. Adapting hierarchical patterns into a flatter, relationship-generating, mentoring-friendly structure offers an ideal springboard for tomorrow’s leaders. So, after investing in nurturing an employee, how do companies go about reversing the job-hopping trend to retain top talent?

To successfully grow, companies need to ensure that expert leadership skills are passed on to the Gen Yers so that they will in turn transmit them to the Gen Zers, born in the 2000s. New factors also apply to companies’ retention strategies on the basis that today’s young employees tend to privilege work-life balance over a high salary. Gen Yers want it all: leadership, learning opportunities, motivation and dialogue with a side of friendliness. And why not? Ahead of the curve, some companies have already put into place benefit packages which, combined with the attraction of inspirational leadership, play a major role in the recruitment and retention process. The balance of power between organisations and employees has changed and employers now need to recognise the need to introduce measures to retain and recruit the best workers. Leadership reconciles X and Y values by integrating emotional intelligence to strong organisational operating models. Embracing new leadership practices and values is key to both companies’ and employees’ bright and successful futures. For further information visit www.hays.co.uk/northernireland

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Can the Belfast office market make the grade? By Stuart Draffin, Director, Head of Agency at Lambert Smith Hampton in Belfast

inding new, top quality office space in Belfast has probably never been more difficult for companies looking to move to the city or move from their existing office. The economic recovery and the emergence of Belfast as a leading location for Foreign Direct Investment companies, means there are plenty of local and international businesses which are looking for office space at a time when supply is short after several years of limited development. In the last number of years, Invest NI has supported many Foreign Direct Investment

companies who have acquired new office space in Belfast including, Baker & McKenzie, Herbert Smith Freehills, Allen & Overy, AXA, Chicago Mercantile Exchange, Augentius, Concentrix, NYSE Euronext, A&L Goodbody, Hewlett Packard, Alexander Mann Solutions, SSE and Citigroup. In order to further boost the economy by bringing in more of these international companies, something is going to have to change. As of June 2015, there was round 900,000 sq.ft. of vacant office space in Belfast. Some 240,000 sq.ft. of this would be considered

Grade A (new builds and prime location), with the rest of the accommodation comprised of secondary accommodation (older refurbished buildings in good locations) and low quality stock (old buildings in secondary/tertiary locations). In the Grade A category, only five properties offer floor space exceeding 20,000 sq.ft. and only the Soloist building on Lanyon Place tops 50,000 sq.ft. Further down the chain, there is around 365,000 sq.ft Grade B stock but this is broken into even smaller parcels, with only two properties offering over 20,000 sq.ft. â&#x20AC;&#x201C; the Lincoln Buildings on Great Victoria Street and Norwich Union House.

COMMERCIAL PROPERTY

As an example of why this is a problem we just need to look at accountancy firms Deloitte and EY, both of which have requirements of up to 60,000 sq.ft within the next two years and are still looking for appropriate offices, while technology company Liberty IT requires up to 60,000 sq.ft. within the same timeframe. In fact, we estimate there could be close to 400,000 sq.ft. of live requirements in the market – and this could be enough to kickstart a new cycle of development. Lambert Smith Hampton’s annual UK Office Market report showed prime rents in Belfast increased by 12 per cent in 2014 as a result of the constricted supply of Grade A office accommodation. This represented the largest increase outside the South East of England. Rental rates of £15 per sq.ft were achieved in a number of properties and this figure is expected to rise further by the end of 2015.

“In order to further boost the economy by bringing in more of these international companies, something is going to have to change.” However, we believe rents on prime office space will need to rise by a further 20 per cent (to £18 per sq.ft) to make new build developments viable for private property developers. This will also improve the funding position which is currently presenting a major hurdle for developers. Banks are keen to discuss proposals again but it is understandable they would be reluctant or cautious about speculatively supporting new build schemes. There is an argument that such an increase in rents risks making Belfast less competitive with other Foreign Direct Investment destinations, but the evidence doesn’t

AUGUST 2015

support this view. For example, prime Grade A office rents are expected to reach £35 per sq.ft. in Manchester, £31.50 per sq.ft. in Edinburgh, £30 per sq.ft. in Bristol and £27 per sq.ft. in Leeds. This supports the view that even with a 20 per cent increase in rents, Belfast will still represent good value with competing locations elsewhere in the UK especially as other occupational costs also tend to be lower. In Belfast, prime office rents are expected to achieve £16.00 per sq.ft. by the end of 2015. We also expect rental growth for good quality secondhand space due to the lack of Grade A stock. Foreign Direct Investment in Northern Ireland will continue to be crucial to the ongoing development of the economy and indeed the commercial property market, and we believe that most of the large national and international companies will not be deterred by what would still be a relatively low rent. To secure these occupiers the market needs a good supply of Grade A office accommodation. If rents increase as expected, it is much more likely that this supply will materialise and therefore will aid inward investment. If rents rise by approximately 20 per cent, and all other things remain equal, Northern Ireland will continue to compare favourably to competing destinations. There is currently planning permission for more than 1.9 million square feet of office developments in Belfast and planning is pending for another 633,000 sq.ft. These include Titanic Quarter’s Financial Services Centre (600,000 sq.ft.) and the Olympic Building (148,000 sq.ft.); McAleer & Rushe’s developments at Bedford Square (225,000 sq.ft.) and 66a Great Victoria Street (91,000 sq.ft.); Belfast Harbour’s City Quays 2 (95,000 sq.ft.); and Calvert’s Erskine House (81,000 sq.ft.). It is my view that taking into consideration both pending and successful planning applications, approximately 200,000 sq.ft. will be developed in the next two to three years. There have been several sales of city centre sites recently to developers from

outside Northern Ireland who are indicating they intend to develop new offices. In the meantime, there will be an opportunity for landlords to retrofit and refurbish existing premises to make them more appealing to indigenous and overseas companies. And for those potential occupiers with large requirements, it will be a case of keeping a close eye on the market and perhaps being prepared to think outside the box. Tech, media and the creative industries have become some of the fastest-growing sectors in the Belfast office market in recent years, but there is increasing evidence that these companies sometimes don’t want to occupy shiny new stereotypical office buildings within the city and are prepared to occupy refurbished space.

“Lambert Smith Hampton’s annual UK Office Market report showed prime rents in Belfast increased by 12 per cent in 2014.” Instead, some of these companies will want buildings that offer flexible office space in former factories, industrial buildings and warehouses, particularly if they offer flexible lease terms. The creative industry has really changed the way standard office space is utilised and prefers a more agile working environment to include desk sharing, informal social spaces, shell fit-out, coffee bars and breakout areas with more casual seating. We have noticed a change in more conventional users who are now influenced by tech occupiers’ demands. However, like traditional office users, transport links, internet connectivity and local amenities remain the most essential factors when considering new office accommodation.

ANALYSIS

Where next? The European Commission gives its prediction for the future of the UK economy in its Economic Forecast.

DP grew by 2.8% in 2014, notably more than its 1.7% increase in 2013. Domestic demand was the main factor, contributing 3.2 percentage points whereas net exports detracted 0.5 pps and have not contributed to growth since 2011. While the composition of growth broadened significantly in 2014 to include business investment, which more than doubled compared to 2013, the widening of growth is yet to extend to the external sector. In the near term, growth is expected to continue at a similar rate to that in late 2014. Although rises in industrial production have slowed in recent months, signals from the services sector remain positive. Forward expectations of business activity in the major business surveys indicate that momentum will continue in the first half of 2015. Private consumption growth is projected at 2.6% in both 2015 and 2016. Further rises in real household disposable income should underpin private consumption, which is supported by higher incomes rather than reductions in saving, as the household saving ratio is expected to remain around 6% in 2015 and 2016. An upside risk is that the fall in retail fuel and energy prices could boost consumption by more than projected. However, a downside risk may be unexpectedly low wage growth. Investment growth is expected to gently abate in 2015 and 2016 to around 5.5%. Nevertheless, it is projected to remain well above GDP growth, as business investment is sustained by solid fundamentals

including strong corporate balance sheets, healthy profits, low borrowing costs, buoyant demand and an increasingly resilient financial sector. However, a downside risk is that credit growth to businesses contracts further and that certain businesses, for instance, small and medium-sized enterprises, continue to report difficulties in access to finance and therefore postpone investment decisions. The weakness in exports and imports is expected to unwind in 2015 and 2016 however net exports are not projected to contribute to growth. Imports are expected to increase as domestic demand continues to expand and the appreciation of sterling dampens the relative price of imports. Exports are also projected to strengthen modestly as demand from major trading partners offsets the impact of the appreciation of sterling. The labour market remains robust as employment continues to rise solidly and the unemployment rate, which is forecast to drop to 5.4% and 5.3% in 2015 and 2016 respectively, continues to decline. The tightening in the labour market is expected to lead to a modest rise in employee compensation, which should further underpin growth in private consumption. However, a risk is that productivity stays at current low levels, which would depress wage growth. Inflation has been weaker than projected in the winter forecast and is now expected at 0.4% in 2015 before rising modestly to 1.6% in 2016. The fall in retail energy prices, the appreciation of sterling and compression of retailersâ&#x20AC;&#x2122; margins in the supermarket sector have contributed to continued low inflation in 2014. However, should core inflation and inflation expectations fall further, there is a risk that inflation becomes entrenched at historically low rates.

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TOP 50 EMPLOYERS 1-25

Rank

Company

Activity

City / Town

Tesco plc

Food Retailing

Newtownabbey

9,519

Short Brothers

Aerospace Manufacturers

Belfast

5,022

ASDA Stores

Food Retailing

Dundonald

4,519

Moy Park

Poultry & Meat Processors

Craigavon

4,309

Queen’s University of Belfast

University

Belfast

4,103

Industrial Temps

Recruitment Agency

Belfast

3,238

Teleperformance

Call Centres

Bangor

3,028

University of Ulster

University

Belfast

2,831

Marks & Spencer

Retailers

Lisburn

2,616

Sainsbury’s Supermarkets

Retail

Belfast

2,402

BT Northern Ireland

Communications

Belfast

2,396

John Henderson (Holdings)

Food Distributors

Newtownabbey

2,388

Ulster Bank

Banking

Belfast

2,368

Premier Employment

Recruitment Agency

Belfast

2,242

Allstate Northern Ireland

Software Developers

Belfast

2,214

Boots UK

Retailers

Belfast

2,197

Diamond Recruitment Group

Recruitment Agency

Belfast

2,050

Almac

Pharmaceutical Manufacturers

Craigavon

1,949

Firstsource Solutions

Business Outsourcers

Belfast

1,916

LLoyd’s Banking Group

Banking

Belfast

1,778

Caterpillar (NI)

Generator Manufacturers

Larne

1,683

Northern Bank

Banking

Belfast

1,633

Grafton Recruitment

Recruitment Agency

Belfast

1,621

Argos

Retailers

Belfast

1,547

Norbrook Laboratories

Veterinary Pharmaceuticals

Newry

1,545

2015

Number of Employees

Note: Figures reported to the Equality Commission and based on a snapshot in early uly. Only employees working more than 16 hours per week are counted on this list.

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09/07/2015 15:45

TOP 50 EMPLOYERS 26-50

Rank

Company

Activity

City / Town

Golf Holdings

Wine & Spirit Merchants

Newry

1,521

Stream Intelligent Contact

Call Centres

Belfast/Londonderry

1,442

Dunnes Stores (Bangor)

Retailers

Belfast

1,440

Manpower (UK)

Recruitment Agency

Belfast

1,432

Seagate Technology (Ireland)

Electronic Equipment

Londonderry

1,364

Wrightbus

Vehicle Builders

Ballymena

1,317

Retailers

Enderby

1,305

Citigroup

Financial Services

Belfast

1,285

Concentrix

Call Centres

Belfast

1,247

Santander (UK)

Financial Services

Belfast

1,228

First Choice Selection Services

Recruitment Services

Belfast

1,147

Graham Holdings

Construction

Dromore

1,143

Schrader Electronics

Automotive Electronics

Antrim

1,126

Bank of Ireland

Banking

Belfast

1,048

Dunbia

Meat Processors

Dungannon

1,023

Robinson Services

Industrial Cleaners

Belfast

1,022

Iceland Foods

Retailers

Belfast

972

NIE Network Services

Consultancy Services

Belfast

966

Mount Charles Catering

Caterers

Belfast

964

First Trust Bank

Banking

Belfast

944

Quinn Industrial (Holdings)

Cement Production

Fermanagh

921

Noonan Services Group

Facility Management

Belfast

914

Primark Stores

Retailers

Belfast

908

Gallaher

Tobacco Manufacturers

Ballymena

903

G4S Fire & Security Systems (UK)

Security Services

Belfast

891

2015

Number of Employees

Note: Figures reported to the Equality Commission and based on a snapshot in early uly. Only employees working more than 16 hours per week are counted on this list.

AUGUST 2015

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EMPLOYMENT

Mind the skills gap

By Donna Parker, Regional Manager at Diamond Recruitment

Many of our indigenous food manufacturers produce high quality own brand items for the major retailers in the UK such as Marks and Spencer, Tesco and ASDA as well as their own signature brands. This has created an increase in not only the traditional production operative roles available but also supply chain professionals, new product development teams, maintenance engineers etc… which many organisations are currently struggling to find. There have been a number of initiatives to attract people into this sector such as the Tasty Careers initiative jointly supported by DEL and DARD but more needs to be done to promote the career paths available in this industry sector to ensure we develop our full potential as a leader in this field. Employers should be making available structured work experience and internships to individuals to allow them to gain solid, relevant experience however many organisations see this as an additional burden on what are sometimes already stretched resources so shy away from offering this option, but then bemoan the lack of candidates when trying to recruit.

usiness and education: they should be working in perfect harmony, with industry relying on educational institutions to deliver individuals with the qualifications and skills they need to flourish, and educational institutions maintaining their relevancy by working to make sure they understand and reflect those needs in courses offered. It should work seamlessly, but at the moment we are seeing a major gap between the graduates coming into the market place and the skills and qualifications companies are looking for. To go even further, many applicants struggle with basic CV writing skills and interview skills which means they are discounted from recruitment processes almost immediately. So how do we solve this issue which, left untended, will result in widespread skills shortages across Northern Ireland and may pose a serious threat to our recovering economy? The skills shortages in IT have been widely publicised but there are far more basic needs in the manufacturing sector that desperately need addressed. An example of this is Northern Ireland’s agri-food sector which is currently booming.

Much more dialogue needs to take place between industry and academia to identify the key skills gaps in the labour market to ensure courses offered are relevant and will increase the employability of our young people. CV writing and interview skills should be taught in schools as part of the core curriculum to ensure that candidates are presenting themselves in the best light possible and can perform at interview. All tertiary education should include a prolonged period of work experience or placement as a fundamental element of the course, and colleges need to work with employers to ensure that they are providing well qualified and experienced candidates to meet the gaps in the labour market. We are seeing many candidates who have never had a part time job, a work placement or even worked on a volunteer or pro bono basis by their early 20’s. This has serious repercussions on an individual’s future employability. Whilst unemployment overall in Northern Ireland is falling, currently sitting at around 6.6%, Youth unemployment between the ages of 18 and 24 is alarmingly sitting at 20%, an increase of 1.2% over the year. This is a clear indicator that there is a discord between the skills and experience of young people entering the labour market and the roles available. Industry and education need to present a united front, close the skills gap, and ensure the long term sustainability of our economy and the employability of future generations.

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ECONOMY

The Citi that doesn’t sleep “From nothing in 2005 to over 1,700 people now,” John Healey said. “It really has been a huge success for Citi and a huge success for the service centre here in Belfast.”

Citi’s headquarters in Belfast’s Titanic Quarter

“Northern Ireland has a lot going for it in terms of talent, a lot of really well educated people who are just right for highly challenging roles”

iti may seem like a relative newcomer to the list of Northern Ireland’s largest employers but the US-owned banking group has, in fact, just celebrated 10 years since first opening its doors here. The office still carries out the same technology services for its global network but has also expanded its expertise into a number of other areas, as well as adding substantially to its headcount. It now employs around 1,700 at its bases in Belfast’s Titanic Quarter, a number which was unimaginable when it first started out in 2005. Then it was a new technology centre for the investment arm of the bank but initial modest plans were quickly expanded when it became clear that the supply of talent was not an issue, according to Site Head John Healey. “Citi very quickly realised we were able to

attract the right kind of talent and revised the business plan with an aim of growing to 560 technology staff. Even that was quickly surpassed and we now have 850 technology professionals working here.” While technology still lies at the heart of the business arm, it’s also grown proficient in a number of other fields.

“Citi very quickly realised we were able to attract the right kind of talent and revised the business plan” It started an operations function with 100 people in 2007 which now employs 450, a legal and compliance department initially started with 40 and now comprises of 300 and a human resources department which now numbers 90.

John himself moved to Citi in 2007 having previously worked for Grafton in Northern Ireland and for JP Morgan around the globe, the latter at a similar service centre in Glasgow. He puts Citi’s reasons for coming to Northern Ireland and, as importantly, for reinvesting in the region over the last ten years, down to three factors, the first of which is talent. “Northern Ireland has a lot going for it in terms of talent, a lot of really well educated people who are just right for highly challenging roles,” John told Ulster Business. “We’re able to recruit from a deep well and the culture of learning here is such that we can quickly add to that knowledge. “We’ve some fantastic examples of programs we’ve put together here which are now replicated in the Citi network around the world.” Geography and jurisdiction is also a big plus. “Our proximity to London is a big advantage, not just in a location sense but also the fact we’ve got the same legal and

ECONOMY

regulatory framework as our main clients in London. That is a huge benefit when it comes to building our business.” The final draw is the network of business relationships. “We’ve been able to do things in Northern Ireland which we haven’t been able to do in London or New York. We’ve got a capital markets collaborative network established which includes Euronext, SR Labs, First Derivatives, Chicago Mercantile Exchange etc. and we’ve been working together to promote the sector through the likes of Moneyconf. “We’ve also got 10 PhDs on the go looking at really challenging areas in capital markets and we’ve great relationships with the universities. “You bring all that together and it is a pretty compelling value proposition for any company.” In terms of what roles Citi carries out in Northern Ireland, there is a wide variety on offer. Technologists, as the name suggests, work in the IT side of the business supporting Citi’s markets business including the trading of foreign exchange, bonds, commodities and equities. Much of it is writing the software which connects Citi to the trading exchanges around the world, making sure it’s as fast as possible and capable of competing in a world where milliseconds can cost or make billions.

Citi’s Northern Ireland Site Head John Healey congratulates the company’s very first employee Dylinn O’Loan, who joined the company in 2005, at the firm’s 10-year anniversary. (Photo: Barry Lau)

confirming and settling transactions carried out by the London trading desk as well as providing risk management assessments.

“We meet with our clients, the compliance team, and they give us some pretty high level requirements.”

The team also supply a support function for the IT on Citi’s trading floor in London and the infrastructure group look after a server estate for the bank across Europe.

The legal team negotiate contracts around the globe for the bank and “tap into a deep seam of legal skills here” while the compliance team manage and monitor the business’s trading activities.

On the operations side of the business, Citi’s Belfast offices are an essential part of the bank’s capital market business by

Heather McDonald has been at Citi for two years and works on the technology side as a Business Analyst and Project Manager,

AUGUST 2015

carrying out work for the compliance team. An Ulster University Software Engineering graduate who also has a PhD in the subject, she said the natural progression for her would have been to work for a university, but she’s glad to be working for Citi and relishes the opportunities it offers. “I love it,” she said. “I work in a really good team and what we’re doing is very exciting. “We meet with our clients, the compliance team, and they give us some pretty high level requirements. We then liaise with the development team and the testing team to make sure it gets produced.” Heather is typical of the type of highly qualified talent which Citi has been tapping into in Northern Ireland, one which a few years ago had initially struggled to find a local outlet but which is now being produced by universities >

It’s all about growth in 2015 and beyond… Stephanie Mulholland, Associate Director of Brightwater Recruitment Specialists, talks about ramping up for further growth in line with the continuing success of Northern Ireland’s Top 100 companies. It’s been a great year for Brightwater Recruitment Specialists with turnover rising by 18% year on year. Growth within the recruitment sector should be seen as a barometer of confidence in the local economy in general with our clients hiring talent with an eye on building for further growth. Stephanie Mulholland, Associate Director,

Not only have we seen a surge in recruitment by Northern Ireland’s Top 100 but there’s also been a significant uplift in the number of vacancies being registered by small to medium sized companies. Invest Northern Ireland has continued to do an exceptional job of attracting new entrants to the local employment market resulting in thousands of new jobs. War for talent There is a definite sense of optimism in the market in general with a focus on growth through hiring the best people from within the province and beyond. Many of the jobs being created are in niche areas such as IT, legal, engineering and accountancy creating a real war for talent amongst in the hiring market. Brightwater works hard to not only source the best talent in the local market but also to attract professionals from the province who moved away during the brain drain of previous years. We’ve invested heavily in our in-house digital marketing function s well as our key partnerships with professional bodies across the professional

Brightwater Northern Ireland.

and technical sectors. We also make it a priority to only hire and train the most professional consultants to work in our business as our clients expect nothing short of excellence. Growth, growth, growth The continuing positivity in the employment market has created opportunities for professional and ambitious recruiters to join our team. We are planning to hire 20 new consultants in our Belfast offices in the coming months to manage key clients and recruitment campaigns across various sectors including legal, sales, marketing, accountancy, financial services and technical services. Our culture is professional, collaborative, high energy, positive and ambitious and we are excited about creating so many opportunities for like-minded recruitment professionals to join us for the exciting times ahead. For further information on our services, visit www.brightwaterni.com or contact Stephanie on 02890 325 325 / s.mulholland@brightwaterni.com

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ECONOMY

< and colleges to meet industry’s demands. That’s quite a change and one which Citi has been instrumental in bringing about, assisting other companies – often commercial rivals – who might be considering setting up base in Northern Ireland. Long may its experience continue to act as a catalyst to further inward investment and as an inspiration and propagator for home-grown investment. The positive impact Citi has had on the Northern Ireland economy shouldn’t be underestimated.

First Minister Peter Robinson and deputy First Minister Martin McGuinness are pictured with James Bardrick, Citi Country Officer, United Kingdom, at the announcement of a £54m investment by the bank last year

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TOP 100 COMPANIES

SHS on the rise

A few months into her new role at the head of one of Northern Ireland’s biggest companies and Elaine Birchall has well and truly got her feet under the desk.

SHS Group has posted a strong set of 2014 financials and the first half of 2015 is already looking positive under her leadership. Not a bad result given the fast moving consumer goods (FMCG) sector has been going through one of the most difficult periods in its history, as established supermarket brands struggle to fend off a well-resourced attack from budget retailers. SHS Group’s robustness is down to the diversified spread of products, both own and agency brands, according to Elaine. “The business has built itself a great portfolio which we’re selling through a breadth of channels. That mix has really helped maintain steady growth over the last year and it’s a strategy that works.” Keeping to the strategy doesn’t mean standing still – far from it – SHS Group has been adding new brands, new channels and encouraging continual innovation. For instance, it’s revamped the graphics on WKD to freshen the brand and has introduced Shloer Light to target a more healthconscious section of the market. Such a drive for continual improvement has meant the handover from previous Managing Director Michael Howard, who retired at the end of 2014, has been seamless. A background at FMCG giants PZ Cussons, Colgate Palmolive and Coca-Cola, Elaine has experience in spades and it’s tempting to ask if she has plans to alter the company’s course. “Rather than change the strategy I want to articulate it,” she said. “I’ve inherited a great management team which work in some very diverse sectors. My first duty of care is to get them in a room and acknowledge who we are and where we’re going.” And although the SHS Group is one of Northern Ireland’s biggest companies, Elaine recognises that it is relatively small compared to some of the other UK and Ireland FMCG specialists (the bulk of the company’s business is carried out outside Northern Ireland), but that’s something which can play in its favour.

“We’re a small company with a great attitude, a customer and consumer centric outlook and a great service offering. We can be much more agile than the bigger firms and if we decide to do something we act on it quickly and decisively so as to pip the competition to the post.” The Group’s acquisitive appetite – it bought Merrydown Cider, Shloer, bottlegreen, amongst others – also remains undiminished. “SHS’s growth has been underpinned by the acquisitions we’ve made and that will continue. We’ll be looking for new opportunities next year.” For now, Elaine is hoping for some sunny weather, not in the figurative sense but literally, to help encourage us to go al fresco and subsequently drive sales of seasonal drinks and condiments. Whatever the weather, it’s once again the diversity of SHS’s product range which will make sure the sun is always shining on at least one area of the business.

40 SUCCESSFUL YEARS IN BUSINESS 1975 1975: What a year of firsts! The year, in which Joe Sloan and the late Geoff Salters established SHS General Distributors, the year the Rubik’s cube was first launched, the first Jaws movie was released in the cinemas,VW Golf was introduced and the year in which Microsoft was born. As SHS prepares to celebrate 40 years in business, we’re taking a look back at some of the Group’s key business milestones.

1978: In 1978 Geoff Salters establishes Dairyfarm Foods which later became Farmlea, trading butter. Joe and Geoff amalgamate the two businesses to form the SHS Group.

1978

1975: Joe Sloan and the late Geoff Salters launch SHS General Distributors with their first brand owner Colgate. In the first year SHS had a turnover of £45,000 and made a profit of £5! 1982: The SHS Group purchases Castlereagh Agencies, the biggest food broker in Northern Ireland, at a time when Castlereagh’s turnover was £16 million and the Group’s was a mere £2.5 million.

1983: SHS Sales & Marketing GB forms with an office, a desk and a can of Farmlea Creamed Rice. The GB operation provided an excellent route to market for Northern Ireland brands like Punjana Tea, Tayto crisps and Inversoft toilet roll.

1984

1993

1984: Farmlea is producing butter, cheese and creamed rice, with custard, evaporated milk, soup, snacks, teabags and frozen burgers all in the offing! Geoff sets up Northern Ireland’s first Pizza Factory in Balloo.

1983

1993: SHS Sales & Marketing takes on the agency business for Caledonian Clear – a range of sparkling fruit flavoured waters.

1992: In the late 80’s early 90’s the Group establishes a firm foothold in the Republic of Ireland through products like Punjana and its own Farmlea rice and custard brands. In 1992, the Group takes on the Tropicana contract in 1994 1994: The SHS Group acquires ROI, and establishes a permanent base a majority share in in Beverage in Dublin. Brands, owned by Joe Woods. In the same year it also invests in Caledonian Bottlers, the 1995: Woody’s main bottling plant for Caledonian Clear, owned by Freddie Williams. Alcoholic Fruit Drinks Following investment by the local council the factory in Cumnock officially launch in GB, the first launches. Later the factory was officially opened by Dennis Law. 1995 RTD to offer a range of flavours. Woody’s go on to become number 1 2011: The SHS Group buys a majority share-holding in RTD in Canada and Gloucestershire-based Bottlegreen Drinks. Bottlegreen Drinks are a key export is one of Britain’s leading producers or cordials and pressés and product for the has a core consumer base of more than two million people. drinks’ division.

1992 1996: The invention of WKD Iron Brew provides a brand which appeals to 18-24 year old males through its masculine feel, dramatic golden colour that looks similar to lager and offers a distinctive taste. The brand increases Group profits by 600 per cent.

2011 2013: Group acquires The Crucial Sauce Company Limited. The company operates primarily in branded sauce products in the out of home and discounter markets with key products being Garlic Mayonnaise,Yogurt and Mint and BBQ sauces.

1996

1999 1999: Geoff and Joe appoint their first Managing Director Michael Howard. Michael joined the business in 1995 as Financial Director.

2001: WKD Blue launches and becomes an instant success after the brand airs on TV for the first time. The first production run sells out within three days sending Group profits soaring from £4 million to £18 million.

2004-06 2015 2004-2006: SHS begins its acquisitions trail purchasing Clayton Love, British Pepper & Spice, Gourmet Garden and ESA in 2004 and Merrydown, Gordons Fine Foods and Swedish Match in 2005.

2001

2013

2015: Elaine Birchall becomes the Group CEO following Michael Howard’s retirement. The Group celebrates 40 years in business.

PROFILE

Full steam ahead P&O Ferries are high up on this year’s Top 100 companies list. Ever wondered what a typical day of a ship’s captain looks like? Wonder no more… Name: Patrick Blackwell-Smyth Position: Master, European Highlander, P&O Ferries 9.00am – If I am on board for my duty fortnight, I can get out of bed and walk ten paces to my desk. I check the weather forecast from the Meteorological Office and then open the “Morning Situation Report” to check if all our ferries are running to schedule. We offer the fastest and most frequent crossings to Scotland so it’s imperative we do all we can to ensure our sailings run smoothly. 0945hrs – After fresh coffee and a shower I open the cabin door and it’s back to the e-mails to follow up on administration and planning. We installed Wi-Fi that works on the Larne/Cairnryan ferries early last year so it means we can keep in touch on email without any interruptions while sailing across the Irish Sea. 1125hrs – I meet with the Night Master to discuss any issues that arose during the night and plans for the next 24 hours and then I take over command of the ferry. 1200hrs – Following an early lunch myself and the crew prepare for departure to Cairnryan. 1230hrs – 1330hrs While the crew focus on getting passengers and cargo swiftly and safely on board I get through some much needed administration preparing for the 1330 sailing. 1400hrs – I am lucky to be part of a fantastic crew that works very closely together. Our “Heads of Departments” meeting is

great for team building and ensures everybody is up to speed on all on-board activity such as surveyor visits, ongoing crew maintenance, crew changes and operational requirements. 1530hrs – 1630hrs On arriving at Cairnryan I check that key Maritime Safety Management procedures are being carried out effectively and prepare for a speedy turnaround and the next sailing to Larne. 1700hrs – I enjoy a great three course dinner followed by half an hour chill out time by catching up with the news. 1800hrs – I prepare for departure to Larne and then phone home for a chat with my wife and to check the dogs are behaving! 1930hrs – I get on to the bridge early to catch up with the oncoming nightshift and to share all relevant business from the day shift and prepare for the next departure. 2030hrs – I now turn to ongoing projects. We’re currently focused on Improving Customers Expectations and a significant element of that is ensuring we arrive on schedule and that we operate a smooth boarding and disembarkation procedure. We have invested in a new Linkspan at Cairnryan which enables us to disembark passenger vehicles speedily from the upper deck while freight continues to disembark from the lower deck. I prepare for arrival at Larne. 2200hrs – 2300hrs We pride ourselves on giving our passengers a friendly, helpful and comfortable service, so now is my chance to walk about the ferry checking the cleanliness of passenger areas and just making sure I am available to passengers and crew. 2300hrs. After preparing the “Change of Command” paperwork, I brief the Night Master on the goings on of the day, any developments for the night or the following day, the status of the vessel, the weather forecast, commercial information and any internal communiques. I update him on any HR, Port, Fleet or other ferry communications. I sign over the ship for the night. 2400hrs – I have a bowl of ice cream and curse the existence of the on-board gym, for depriving me of the full satisfaction that the midnight treat should be giving me! 0030hrs – Turn in & read a history book – currently “Napoleon in Exile – A voice from St. Helena”.

On your side. For every stage of your business. John McKee Solicitors provides corporate commercial services to a wide and sector diverse range of clients throughout the UK, Ireland and internationally. We have experienced lawyers who are qualified to practice throughout the UK and Ireland and we have links to international law firms, which means we are able to provide a full service to our corporate clients.

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NEWS

Dalata Hotel Group Invests In Central Belfast Hotel

alata Hotel Group has signalled its intention to expand its footprint in Northern Ireland by announcing the opening of Clayton Hotel Belfast on the city’s Ormeau Avenue. The largest hotel operator in Ireland with 13 hotels across the UK and Ireland under the Clayton Hotels brand by the end of 2015 in locations including Galway, Dublin and Manchester after purchasing a portfolio of properties from Bewley’s Hotels and Moran Hotels. Among the properties acquired was the Holiday Inn on Ormeau Avenue. Clayton Hotels is a four star brand with a focus on the corporate market – the principal distinction between Clayton Hotels and the more family orientated sister hotel group – Maldron Hotels. The company is investing €27m in the redevelopment and upgrade of both brands across the island. The acquisition of Clayton Hotel Belfast, a modern, city centre based property with excellent conferencing facilities, is part of Dalata’s strategy to assemble a portfolio of high quality hotels in key city locations. The company intends to embark on an extensive refurbishment project at the hotel. The hotel will also be investing in staff training and development to bring a people-focused service experience to customers under its ‘your stay, your way’ approach. Pat McCann, founder and chief executive officer of the Dalata

Hotel Group PLC said: “It’s an exciting time for the Dalata team. Our strategy is to leverage the group’s core asset management, hotel operation and development capabilities to grow the business. It is fantastic to see this coming to life with the launch and forthcoming roll out of Clayton Hotels across Ireland and the UK.” Stephen Redden, general manager of the Clayton Hotel Belfast, said: “The investment by Dalata Hotel Group is a real vote of confidence in Belfast’s economic prospects and the resurgence of Northern Ireland’s tourism and hospitality sectors.

NTD shines the spotlight on growth rebrand. The company, who is the provider behind the ID card solutions at the set for HBO’s hugely popular and critically acclaimed show Game of Thrones, has developed a comprehensive five-year plan focus on future growth. From humble beginnings in 1989, NTD has gone from strength to strength over nearly three decades of business. Split into four key areas; Time Management Solutions, Access Control, ID Card Solutions and Mail Room Equipment, the locally owned Lisburn based company currently employs 15 employees and has over 2500 active customers.

NTD have provided ID card solutions for HBO’s Game of Thrones (Photo: Helen Sloan/HBO).

N 82

TD has been providing effective data solution systems in Northern Ireland for 26 years and in recent months has undergone an extensive

“We are so proud of how far the company has come since its establishment in 1989. The business has seen considerable growth in the past two years in particular, having invested approximately £50,000 in new staff, and a further £10,000 in marketing and a new revamped website. Our ID card solution for Game of Thrones means that our offering of unique services is well and truly on the world’s stage.” Stephen Brown, MD.

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TOP 100 COMPANIES

Norbrook’s pharma knowhow Newly installed chief executive Liam Nagle offers some insights into the Norbrook business. growth in the companion animal sector. We also expect to grow our North American operations ahead of market growth levels while continuing to invest in R&D in all aspects of the business. What challenges are you facing and how are you overcoming them? Animal health is a new sector for me and Norbrook, a new company, so it is a time for lots of learning and listening. In the first six months I have met as many people as I can both internally and externally and listened as much as possible. I hope to use my experience across a range of different sectors together with the knowledge I am gathering from the animal health industry to work, with the team, to continue to drive the business forward. You’ve recently taken over at the top of Norbrook. Are you planning any changes to the company’s strategy? As I have just mentioned I see now as a time for me to listen and learn. The company has been very successful to date so I don’t see any major change in direction. The strategy will probably be fine-tuned with a greater focus in the short term on improving the ‘how’ we do things to ensure we continue to experience growth going forward.

How’s business? Business is generally positive. We recently announced our 2014 results which were encouraging. In 2015 we are continuing to experience growth in most markets but in particular in North America geographically and in our companion animal divisionwhich is primarily the domestic pet market. We are focussing very much on our core strengths in the veterinary pharmaceutical market going forward to continue to grow and develop the business. What areas of the business are you targeting for growth in the next few years? We see opportunities in most geographies and sectors within our core marketplace.The veterinary pharmaceutical industry is growing at 5%-6% and we hope to grow faster than the industry average. We will continue to invest in the large animal sector which is our historical strength but we are also looking to accelerate

Why does a manufacturing business such as yours remain based in Northern Ireland when other regions could offer cheaper costs of production? We are very lucky to have extremely talented and committed employees here who are at the core of what we do. We work closely with the local college, schools and universities to ensure we continue to have a talent pool of people coming through the STEM courses route and we work hard to try to retain our talented people when they join us. Northern Ireland is also competitive on many other levels and as a base it allows us to serve our European markets very competitively and effectively. How do you keep such a large workforce motivated? Employees are motivated if they feel engaged in the company and enjoy their work. We will continue to give people opportunities to grow personally within the company as we grow and develop. Communication, particularly internally is important and something I feel very strongly about. We want our employees to know what our challenges and opportunities are and how every individual can contribute to improving how we perform for our customers and all other stakeholders.

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Ulster PROFILE University Business School

Distinguished Alumni David Sterling, Permanent Secretary in the Department of Finance and Personnel (DFP), is the fourth to be profiled in the Ulster University Business School Distinguished Alumni series.

David Sterling, Permanent Secretary in the Department of Finance and Personnel (DFP), MSc Policy Analysis, Ulster University Business School.

What is your current role? I have been Permanent Secretary in the Department of Finance and Personnel (DFP) from 1 July 2014. Previously I was Permanent Secretary in the Department of Enterprise, Trade and Investment (DETI). How did you choose this career field and what has been your path? I am a late starter. I did not complete my primary degree at Queen’s University Belfast and drifted into the NI Civil Service. However, it has been a good employer which has offered me many development opportunities. What did you study at the Ulster University Business School? I completed an MSc in Policy Analysis in 1991. What are the key lessons you learnt whilst at the Ulster University Business School? I learnt that government is complex and policy development is rarely, if ever, a smooth and straightforward process. The world is a dynamic, fast-moving and messy environment. The Policy Analysis programme gave me a greater understanding of what works and

what doesn’t work when government sets out to deliver better outcomes for its citizens. How important are the networks you made through study to your work life now? I forged good relationships with a variety of people across the public sector during the Policy Analysis programme. I have maintained many of these relationships to this day. Indeed it is worth noting that until very recently three of the permanent secretaries in the NI Civil Service had completed the Policy Analysis Programme: Leo O’Reilly, Will Haire (now retired) and me. A number of other alumni have reached very senior levels in the Civil Service and in other public sector organisations. Do you have any current links with Ulster University Business School and if so, how valuable are these in your day-to-day work? I have had regular contact with UU and the Business School both while in DETI and DFP. While in DETI I worked very closely with the former Vice Chancellor Sir Richard Barnett, who led the Independent Review of Economic Policy on behalf of the DETI Minister Arlene Foster in 2009. I also worked very closely with Sir Richard to help establish the Economic Policy Centre in the Ulster University Business School. The centre has conducted a number of vital pieces of research and analysis on behalf of NI Executive Departments on issues including corporation tax, air passenger duty and small business rate relief. This and other research has had a major influence on

policy in these and many other areas. In this context I am in regular contact with Professor Neil Gibson, who heads up the centre, and with Professor Marie McHugh, who is Dean of the Ulster University Business School. I have frequent contact with Gerry Mallon who is Chief Executive of Danske Bank and who chairs the Council of Ulster University. Gerry is an alumnus of the Ulster University Business School and is a member of the Enterprise Minister’s Economic Advisory Group (EAG) on which Professor Gibson also sits. What, or who, was your most memorable time or person at Ulster University Business School? I learnt a lot from the tutors on the Policy Analysis programme and would still meet many of them including Professor Denise McAlister who is now a Pro Vice Chancellor, Professor Andrew Erridge and Professor Colin Knox. While in DETI and DFP I have had regular contact with Professor Marie McHugh at a variety of Ulster University Business School events. Marie cut her academic teeth on the Policy Analysis programme. The course of study included a wide variety of learning methods and opportunities. The most memorable was probably the two week-long trips by Ulster University to Leuven in Belgium where we stayed at the Irish Institute. These trips allowed us to see the workings of the EU Commission at first hand and explore how public administration worked in another divided society.

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AES

here aren’t many companies in the Top 100 which can say they supply the 99 others on the list, and indeed nearly every company and household in Northern Ireland.

AES, however, is slightly different given that electricity is a product we are all dependent on. It is the company which owns and runs both Ballylumford Power Station on Island Magee and Kilroot Power Station near Carrickfergus on the north shore of Belfast Lough. It both generates and distributes electricity from those bases and, quite literally, keeps the lights on in Northern Ireland. Anybody worried that that we are at risk of sitting in darkness should rest easy given AES’s form in the sector around the world: it has a presence in 18 countries, services 10 million customers, turns over $17bn in revenues, employs 18,500 people and generates 35,000 megawatts (MW) of electricity. That’s quite a lot of power – if you assume around 12MW are needed to keep 10,000 homes running for a year – which is generated from coal, gas and renewables. Here in Northern Ireland AES accounts for 70% of the region’s electricity generation capacity and has been steadily increasing its investment since first buying Kilroot as part of a joint venture in 1992. Although a global organisation now, back then the purchase marked a big step in the firm’s growth. “That was a very important inflection point for AES,” Carla Tully, President of AES UK and Ireland told Ulster Business. “Up until then we had only invested in the US but that changed with the purchase of Kilroot which started us on a trajectory to become a Fortune 200 global power company. “It started here.” After only a few years AES bought out its partner in the Kilroot operation Tractebel and in 2010 added Ballylumford to its portfolio, quickly integrating the plants into a single business.

In terms of generation, Kilroot burns coal while Ballylumford now runs on gas having been converted from heavy fuel oil originally. The team pictured alongside Carla Tully at the latter site have been involved in the upgrade of the ‘B’ station to comply with new EU emission regulations, a move which will help ensure security of supply for Northern Ireland in the future and one commissioned by the System Operator of Northern Ireland (SONI). The B station was due to go out of commission in 2015 so the upgrade has helped to save and maintain around 140 jobs at the site. But alongside AES’s expertise in electricity generation, it is also a specialist in energy storage and is bringing that knowledge to Northern Ireland. The technology has already been tried and tested in Ohio, West Virginia and Chile and will be replicated with the installation of a 10MW lithiumi on battery array at the Kilroot plant. The battery’s ability to store energy means Northern Ireland can make much better use of wind power, a form of electricity which is notoriously erratic, producing an oversupply during periods of windy weather and an undersupply during periods of calm. The batteries storage abilities mean wind energy can be delivered to end users on a much more constant, steady basis. It will help the region meet the strict targets of generating 40% of electricity from renewable sources by 2020, a figure which could be exceeded if AES’s proposal to grow the battery array ten-fold by 2017 go ahead. While 2020 may seem a long way off, for AES, a company which by its very nature invests for the long term, the date is only around the corner and a longer-term strategy from government would help future plans. For now, AES don’t look to be going anywhere. “We’ve been here for 22 years and our growth plans are to be here in another 22 years,” Ms Tully said. “When I talk to our apprentices, I tell them they’re the ones who are going to be running this business in the future. That is the type of time horizon we look at. We don’t move in and out of markets quickly.”

Pictured at Ballylumford Power Station are Carla Tully, President of AES UK and Ireland, William Swann; Aaron McClean; Stephen Brownlees; Peter Nesbitt and Seamus McFerran.

AUGUST 2015

Michael and Laura Chandler.

The new norm? With recent reports suggesting the housing market in Northern Ireland is recovering steadily, Belfast estate agents and property consultants Michael and Laura Chandler tell Ulster Business how they are establishing a ‘new normal’ in residential estate agency in Northern Ireland...

“T

he Ulster University Northern Ireland Quarterly House Price Index for Q1 2015 indicated that the local housing market is ‘gradually recovering’, with the average house price in Northern Ireland at its highest since 2010,” explains Michael Chandler, founder and managing director of Michael Chandler Estate Agents. “The report also shows that the number of transactions continued to rise, recording a 16 per cent increase year on year, and we have seen these improving market conditions reflect in our own business at Michael Chandler Estate Agents.”

Laura Chandler, wife of Michael and joint managing director in the business. “In 2014, the number of completions we recorded increased by a massive 433% year on year when compared with 2013, and in the first six months of this year alone, completions are up a further 55% on the same period last year. “When we have a look at the number of new listings we are being instructed on, we get a clear sense the market is definitely improving – certainly in the Belfast and Greater Belfast areas that we serve. Our new listings in the first six months of this year are up by 68% compared to the same period last year and in 2014 we saw a total increase of 162% in new listings across the year compared to 2013.”

Business growth “In the past two years we have recorded a very significant growth in our business,” says

Michael continues: “We have definitely noticed a return in confidence and

affordability and, whilst the first time buyer market dominated for a while, the number of people selling houses to move up the property ladder are slowly climbing back to pre-recessionary levels. For the first time in a long time we have seen the re-emergence of the ‘bidding war’, which is a clear sign of a more buoyant market.”

Doing things differently The Chandlers are confident their business growth will continue in the coming months and say this growth will be underpinned by a very clear strategy: “In the Northern Ireland market there has tended to be somewhat of a ‘wait for it to come to you’ mentality,” explains Michael. “Now, though, it’s time to do things differently. It is time to set new standards and establish a ‘new normal’ in the residential estate agency business, and

PROFILE

straightforward and efficient as possible. That means offering a very high-end, radically forward-thinking service that really fits in around our clients’ busy lifestyles.

ABOVE: The team at Michael Chandler Estate Agents (L-R): Lorraine Marshall; Gareth Owens; Clare Kerstens; Mark Gillespie; Carolyn Edgar; Michael and Laura Chandler; Neil Murphy; Paula Lyttle; Sam Mulholland and Kirsty Finney.

we want Michael Chandler Estate Agency to be at the forefront of that transformation. “There is no doubt that success in this business is ultimately about being tapped into the local market – knowing who’s buying, who’s selling, and knowing exactly how to find the best buyer for a property. But that isn’t enough any more, and we’re investing a lot of time, effort and money into thinking outside the box much more, pushing the boundaries and doing things differently.”

“We are investing heavily in modern solutions in our business to enhance the way in which a home is marketed for the vendor – ultimately helping to get them the best price – and to improve the interactive experience for the buyer through the likes of virtual video tours, for example.”

Relationships Despite this focus on modern technology, however, strong customer service and relationships will always lie at the heart of the Chandlers’ strategy, according to Laura. “We put a lot into maximising the experience for each of our clients – bricks, mortar and money are only part of the equation. “We understand that buying or selling a property can be a stressful time and we work closely with our clients to take as much of the hassle and worry out of the experience as possible.”

Modern solutions

People

“Whilst the focus used to be about who could produce the best photographs and the most attractive brochures to entice hard to find buyers,” he continues, “it is now about making the experience for both the vendor and the buyer as modern,

The Chandlers know they need good people behind them to realise such high ambitions and, according to Michael, the current team is the best that it has ever been. “We have grown our team in line with a growing demand for our service,” he says.

AUGUST 2015

“Most recently, we have recruited Kirsty Finney – a renowned lettings specialist – to head up our lettings department. Kirsty will oversee our market-leading rental team in offering an unrivalled, comprehensive range of professional services to landlords and tenants. We are confident her appointment will further enhance the quality lettings experience for which Michael Chandler Estate Agents is so highly reputed. “We invest a lot in attracting and retaining the best people and, as a result, we have a lot of confidence in our team. They really buy into our vision and ethos, and they are just as committed to making it happen as Laura and I are. They share in our excitement at seeing the business growing so quickly and can see a great future in it.”

The future So what’s next for Michael Chandler Estate Agents? “We are very confident that we will see this significant growth trend continue in the coming months and years. We have committed to investing heavily in the expansion of the business and this will lead to some very exciting developments over the next 12 to 18 months. Watch this space..!”

For more information about Michael Chandler Estate Agents please call 02890 450 550 or visit www.michael-chandler.co.uk

PROPERTY

Cashing in on property By Richard McCaig, Senior Surveyor, Osborne King Commercial Property Consultants

roperty was traditionally viewed as a steady investment that would grow in value over the medium to long term, not double in value within two years or indeed 10 minutes because of new planning permission. Many of those who simply speculated on the property market and traded or “flipped” property for a quick capital gain are long gone. However, those experienced investors who have been in it for the long run are now seeking to return to the market.

knowing that their business will be in occupation for the medium to long term. In simple terms, by paying a “notional rent” over 10 years, for example, the property will effectively have paid for itself leaving an unencumbered asset as opposed to paying rent for 10 years and having nothing to show for it at lease end. Examples include the acquisition of a stand-alone office building in South Belfast on behalf of a charity organisation. The acquisition price of £375,000 reflected £105psf, which was still less than the cost of building new premises, never mind buying a site to put it on!

Direct property investment is re-emerging as a preferred investment class due to poor returns on cash deposits and enhanced market sentiment. It’s a case of “back to basics”, accepting that it is prudent to take a 10-year view on property and acknowledging that capital growth will be steady rather than instant. At present the Northern Irish property market is being heavily influenced by ‘Loan Sales’. Recent claims surrounding the sale of the NAMA loan portfolio have assisted in bringing this to the attention of the general public, but ultimately the main impact on the market to date is a lack of good quality supply. With this in mind, demand for good quality investment product is outstripping supply; this has resulted in competitive bidding between cash-rich investors for the attractive assets that do become available. Osborne King recently sold an investment on Belfast’s Dublin Road which is let to Tesco and a local pharmacy. The property was brought to the market with an asking price of £2.25m reflecting a Net Initial Yield of 7.28%. Following a competitive bidding process the property was sold for £2.65m reflecting a NIY of 6.18%.

The current level of demand and evidence of tightening yields is further supported by the sale of another Tesco investment on Royal Avenue, Belfast. On this occasion the sale price achieved was £975,000 reflecting a NIY 5.43%. In reality these yields are at least 0.5% tighter than what could have been achieved 12 months ago. In recent months we have seen a significant rise in the acquisition of office premises for owner occupation. Increased market confidence relating to investment property has also had a positive impact on prices in his sector. Again the “back to basics” principles apply. We have seen a number of buyers choose to invest cash reserves in property

We also recently sold a floor in Causeway Tower, James Street South, on behalf of a private individual, which was originally acquired in 2012 and sold for £250,000. The sale price reflected over £100 per sq ft and represented a substantial return on the client’s original investment. All in all, there are clear opportunities for buyers and sellers in the current market. Anyone who bought a good quality investment or office property during the lower ebbs of the market in 2012/2013 could reasonably expect to see some capital appreciation as the market continues to recover. The outlook is very positive and there is no doubt that good product will be rewarded with strong pricing. Whilst it isn’t totally clear what long term effects current loan sales will have on the market, general sentiment remains upbeat and the market continues to move forward. Hopefully as the wider economy continues to improve we will keep going in the right direction.

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Pictured at the opening of the Diageo Belfast offices are Jorge Lopes, Country Director, Diageo NI; Jonathan Bell MLA, Minister of Enterprise, Trade & Investment and John Kennedy, President, Diageo Europe.

Diageo: in good spirits

iageo, a global leader in beverage alcohol, has committed its ongoing support to the Northern Ireland economy with the opening in June of its new offices in Capital House in the heart of Belfast city centre. With a collection of brands including Guinness, Harp, Smithwick’s, Carlsberg, Smirnoff, Captain Morgan, Baileys, Tanqueray, Johnnie Walker and Bulleit sold in more than 180 countries around the world, Diageo is also one of Northern Ireland’s major exporters in the food and beverage sector.

Diageo Northern Ireland employs over 300 people across three sites including the global Baileys’ facility at Mallusk, the bottling and packaging plant in East Belfast and the new Northern Ireland headquarters in Belfast, home to Customer Services and Credit Management for the island of Ireland creating 55 new jobs in Belfast over the last two years. The company produces 70% of all Baileys sold worldwide at its facility in Mallusk, County Antrim which was opened in 2003. During peak production over 400,000 bottles per day are produced, the equivalent of 1.6 million litres of liquid produced each week. The Marshalls Road operation is responsible for the bottling, canning and packaging of Guinness, Budweiser, Carlsberg, Harp,

Smithwick’s and other beers and, later this year, celebrates 30 years on site. Jorge Lopes, Country Director Diageo Northern Ireland, comments: “Through our employment and production, Diageo is proud of its long-standing history and partnerships in Northern Ireland and we are committed to supporting economic growth through hospitality, increased tourism and job creation. As such, we are delighted to have recently announced an additional investment of £100,000 over the next two years with partners Visit Belfast to support the work they do in developing and promoting Belfast. There are now signs of a sustainable recovery here in Northern Ireland with statistics from Hospitality Ulster stating that the hospitality

TOP 100 COMPANIES

industry in Northern Ireland has the potential to create up to 5,000 new jobs in the next 10 years. This upturn is reflected in the growth of the night-time economy not only in Belfast but throughout Northern Ireland and at Diageo we are committed to supporting this growth through investment in our brands, in the wider economy and community and with our strategic partners.” One such example of the recent industry upturn is a major redevelopment in the heart of Belfast’s Linen Quarter. ‘Sweet Afton’, a unique and exciting new craft beer-focused venue supported by Diageo, opens in August while ‘The Perch’ opened its doors for the first time on 26 June. Both bars are located within a historic Victorian building situated across Brunswick Street, Franklin Street and James Street South and will complement the projects’ other successful venues Rita’s and Chinawhite, completing an unprecedented and exciting new entertainment offering with a diverse range of bars located in Belfast’s regenerated Linen Quarter for the very first time.

“Diageo is proud of its long-standing history and partnerships in Northern Ireland and we are committed to supporting economic growth through hospitality, increased tourism and job creation.” Jorge Lopes adds; “Sweet Afton and indeed the Perch are great examples of the investment that is supporting the reemergence and growth within the industry. At Diageo we continue to innovate across our portfolio, with new brands from our Brewers Project including Hop House 13, Smithwick’s Blonde, Guinness West Indies and Guinness Dublin Porter, and we are looking forward to showcasing them in Sweet Afton and in other on trade outlets across the country.”

AUGUST 2015

The final phase of a major redevelopment in the heart of Belfast’s Linen Quarter will see the completion of ‘Sweet Afton’, a unique and exciting new craft beer-focused venue supported by Diageo. Pictured are Jorge Lopes, Diageo NI; Gordon Devenney, O’Donnell O’Neill Design Associates and Paul Langsford, Director of The Perch and Sweet Afton.

It has certainly been a busy few months for Diageo with the Guinness PRO12 Final held for the first time ever at the Kingspan Stadium in Belfast in May, a triumph for the city and those in the hospitality industry. Other recent activity has included sponsorship of the Derry~Londonderry Jazz Festival, the Guinness Blues on the Bay festival in Warrenpoint and, most recently, another first with Harp Lager’s sponsorship of Féile an Phobail in West Belfast.

completed their City & Guilds qualification following a tailored 16 week programme which has provided them with insight and experience of the hospitality and tourism industry; including interview preparation, food and beverage skills, customer care and communications and computer skills. They are currently midway through 3-month long paid placements with Diageo’s partners in the hospitality sector including Laverys, Hastings Hotels and Aether & Echo.

But it’s not all about commercial support. In March this year, the first ever Diageo NI Tourism and Hospitality Academy was launched. Modelled on Diageo’s globally acclaimed Learning for Life programme, the Academy is designed and delivered by Belfast Met, supported by Diageo and Visit Belfast and FLU funded by the Department for Employment and Learning, to provide real employment opportunities in the hospitality and tourism industry for 18-24 year olds.

The programme presents an opportunity for young people to forge a career in Northern Ireland’s vibrant hospitality sector by opening the door to a wide range of exciting career opportunities in a growing industry.

The current participants have recently

Jorge Lopes concludes: “It is the next chapter of our business in Northern Ireland and a very exciting one at that. We have the brands, the people and the ambition to make this a memorable chapter and I’m really looking forward to the future of Diageo Northern Ireland.”

Because you’re worth it Should there be a cap when it comes to the pay packets of CEOs? Neal Lucas, Managing Director of one of NI’s leading executive search companies, has been responsible for headhunting some of the top executive roles for leading companies based in Northern Ireland, RoI and GB markets. He gives his view on why good CEOs are worth it.

he average UK salary is £26,000. CEO salaries can dwarf this figure, not just nationally in FTSE companies, but also locally with many top jobs earning comfortable six figure basic salaries. Let’s look at what is actually required of a CEO compared to that of someone who is earning the average UK salary. The position of a CEO or managing director is one of the most coveted, yet highly misunderstood positions. There is a lack of education about what a CEO actually does and what they are responsible for. It goes without saying that being in charge of a company or large corporation is a hugely demanding job, but many people hold the misconception that CEOs are all powerful and can do whatever they want – this couldn’t be further from the truth. CEOs are responsible for the overall day-today running of large complex organisations with multiple stakeholders, several income streams, high numbers of staff, and more than one simple bottom line to consider. Depending on the job and sector, CEOs may be held accountable for public money and effective and efficient delivery of services, for failures and shortcomings. To summarise, the CEO is responsible for the success or failure of the company. Although CEOs can have a strong management team and workforce in place under them; the company culture, selection of that management team,

hiring the right people, setting the direction of the company’s strategy and vision and sustaining this year after year, all lies within the responsibility of the CEO. It is not just about having the right qualifications and years of experience. Having someone who understands how to do this effectively, as well as understanding the environment in which they are working and has the ability and strategic thinking to foresee and overcome its challenges, is quite frank. This ability to evaluate conflicting demands for resources, design a strategy which has the support of the board and delivers value for the stakeholders need to be combined with an ability to ensure the organisation implements the operational plan which underpins the strategy and achieves the strategic objectives.

excellent chief executive who inspires staff and achieves the organisation’s objectives is entitled to a generous remuneration package as this ability is rare. If we want the very best people to work in jobs that are crucial to the success of the company, which determines job creations or losses and enhances shareholder value and ultimately contribute to driving Northern Ireland’s economy; then we should be willing to pay enough to attract them. In order to have a well-run, effective organisation, it is essential that the very best people with the right skills and mindset are hired to do the job. These people need to be considered not only as a cost but an investment to enable the organisation’s strategic objectives to be achieved. It should go without saying that the salary should be proportionate to the value created. Neal Lucas is Managing Director of Neal Lucas Recruitment. Tel: 028 9268 8818, visit

If the organisation has an effective board with robust governance procedures, then an

www.neallucasrecruitment.com, follow Neal @NealLucasRec or connect on LinkedIn.

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The power of connections How a Northern Ireland telecommunications firm Connect Telecom is making a name for itself far and wide.

Pictured (l-r): Rob Mukherjee, Head of Vodafone UK Partner Services; Matthew Brown, Director Connect Telecom; Robin Brown, Director Connect Telecom; and Nick Birtwistle, Director of Partnerships & Alliances at Vodafone UK.

he importance of good telecommunications in the world of business can’t be overestimated.

It has become an essential cog in keeping businesses from across the spectrum working on a day-to-day basis and its growing technical efficiency is helping to pare back costs for all. But it’s also a fiercely competitive market place and one which demands the best quality of service for a provider to maintain a respectable share. One such company is Connect Telecom, the eight-year-old Belfast firm which has been expanding its presence in Northern Ireland and beyond on a consistent basis. Its innovative approach has proved popular and it’s just been awarded the One Net Partner of the Year title from Vodafone, the mobile telecoms giant to which it acts as a lead platinum partner. “We’re delighted to receive such prestigious recognition for the work we’ve been doing,” Matthew Brown, one of Connect Telecom’s founders said. “It shows that our unified communications proposition is finding a welcome audience in the business community.”

That offering is vast, covering the complete range of telecoms solutions across mobiles, systems, data services and landlines to businesses of all sizes, and has been winning a lot of admirers over the last few years. But it’s not just the technology which is proving popular; the manner in which Connect Telecom are offering the products is also a big plus. It takes the time to understand a customers’ business so that it can really understand their needs and find the right communication solution. “We make sure we get under the skin of our clients’ business to make sure we’re providing them with telecommunications which will help them do business,” Matthew told Ulster Business. “We customise our offering too.” That adds up to a compelling offering and one which has been finding a willing audience near and far. As well as its Lisburn Road office in Belfast, it has added an office in Glasgow and has been servicing clients throughout the UK and the Republic. “The strength of the business is that we offer

the benefit of local presence allied to the Vodafone brand,” Matthew said. “We’re focused on key regional areas and will be expanding that presence to the likes of the north west of England in the very near future.” He said the company is continually investing in its 30 staff, the bulk of whom are based in Belfast, and expects headcount to expand in the near future. Recent growth was helped by financing from the Growth Loan Fund managed by Whiterock Capital which helped the company take on new staff and expand into new markets. That the expansion took place during some of the most difficult times for the Northern Ireland economy is testament to the robustness of the company’s offering and will stand it in good stead now that the economy is in better shape. “We’re seeing some much more positive economic indicators and more willingness to lend from the banking community so the prospects for the next few years are increasingly positive,” Matthew Brown said. “We’ve already come a long way and expect to be making an even bigger name for ourselves in the future.”

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ECONOMY

A long road to travel? Tom Cardwell, Director at Negative Equity NI, takes a look at the impact of negative equity on the Northern Ireland economy.

espite the recent uplift in property prices, there are still a lot of people who are trapped in negative equity. We estimate that 41% of homeowners in Northern Ireland are currently in negative equity and our figures show that the average level of negative equity per residential property is £68,000. The fact that these people can’t sell their property, combined with the slowdown in house building over the last five years, has led to a shortage of houses in the local market. While this shortage has pushed prices up over the last few months, we should all be wary that the market isn’t stable. Until the shortage in housing has been resolved, or the problem of negative equity has been solved, the housing market won’t normalise which has huge implications for the economy. A stable housing market is one of the cornerstones of a secure economy and Northern Ireland is still some way from achieving this. Unfortunately it’s not going to be an easy problem to solve. The Government has already tried and failed with its ‘wet blanket’ approach to negative equity with the release of the Housing Repossessions Taskforce report and recommendations, which simply don’t go far enough to help those in need. In my opinion, there are two ways to solve the negative equity crisis; greater flexibility from lenders and people who are in trouble seeking help. Although house prices are on the rise, we’re still seeing hundreds of homeowners approach the team at Negative Equity NI

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for help every week. We have around 400 live client cases at the moment – that’s 400 homeowners who are trapped in negative equity and want to find a way out. There are many more who have yet to seek that help, leaving them stuck in a property they can’t sell, which has a negative impact on the housing market and the wider economy.

ago, these homeowners could find their repayment sums going through the roof.

There are other issues on the horizon too. Homeowners who took out 10 year mortgages in 2005 and 2006 will soon see their deals come to an end. With rumoured interest rate rises on the way and the smaller number of mortgage products available on the market now compared with a decade

The upward trajectory of the Northern Ireland economy is dependent on a stable, successful housing market. While the uplift in prices is welcome and provides some light relief for the market, we still have a long way to go before house sales in Northern Ireland can be described as stable.

This will put a lot of homeowners in financial difficulty, potentially leading to repossessions, people not being able to move and more pressure put on an increasingly strained housing market.

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SDC Trailers

If you’ve been driving along a road in Northern Ireland lately then you’ve probably passed a number of SDC Trailers’ products.

It was founded at the Toombridge base it still operates from in 1978 and is now one of the biggest manufacturers of lorry trailers in Europe.

In fact, the same could be said were you driving anywhere in the UK and Ireland, or indeed in Europe.

Its expansion has occurred both organically and through acquisitive means over the last few years with the purchase of Nottinghamshirebased Neville Charrold in 1994 and integration with the MDF business in 1998.

As the name suggests, it manufactures lorry trailers of all descriptions, from flat-bed trailers to box vans and from curtain siders to tippers.

It now employs around 350 people on the island of Ireland as well as 300 people in England capable of manufacturing 250 trailers a week, 90% of which are sold within the British Isles.

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The export market is one which the company is targeting to help grow its sales and it has already secured sales to the Middle East, to north Africa and Nigeria.

Some of the products which have come out of that investment include a new car transporter trailer and others aimed at the recycling industry.

Steady growth over the last few years has been put down to strong customer relation building and continual investment in innovation, according to managing director Mark Cuskeran.

SDC said its increased production output by 30% in 2014 following ongoing expansion at their four manufacturing plants.

“While others have been reducing their engineering spend, we’ve been investing heavily to make sure we’re at the top of our game,” he said.

Group turnover has also risen sharply and is projected to increase by €57m to €220m, following a number of sizeable orders from local and international markets.

Pictured at the SDC manufacturing facility at Toome are Chris McCauley, Financial Director; Enda Cushnahan, Commercial Director and Mark Cuskeran, Managing Director.

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MANUFACTURING

Manufacturing powerhouse? By Stephen Kelly

he long awaited outcome of the Review of Public of Public Administration saw our new 11 ‘super-councils’ emerge in the spring. Less of them, a set of new councillors administering new powers and hopefully for ratepayers some efficiency and greater levels of effectiveness. What’s also emerged is a greater sense of how economies are made up right across the province. We’ve learned that an incredible 27.5% of jobs in the new Mid-Ulster and more than 1 in 5 jobs in Armagh, Banbridge and Craigavon Council areas are a manufacturing job. Indeed more than half of the new councils beat the Northern Ireland average of 11% of jobs. Indeed manufacturing once again broke through the 80,000 jobs mark recovering from jobs lost in the recession quicker than any other sector. These are jobs in mostly homemade companies with excellent leadership, making great products with great people and selling to markets at home and abroad. These jobs are building strong local communities providing work and creating wealth where people want to live, setting up home, building families and contributing to their local area. And, given manufacturing’s impact on

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the exports, the local supply chain, subcontractors and services we really should be cherishing and celebrating the sector. Whilst there are no official local GDP figures, manufacturing is said to be around 13% of our economy. The EU ambition is to reindustrialise Europe, their target is 20% of GDP. Hitting that target, increasing our GDP would transform communities right across Northern Ireland but we won’t get there unless we create a cost competitive environment through a new cross cutting Industrial Strategy for Northern Ireland.

In energy, the Gas to the West project is getting closer and electricity prices have fallen. The Utility Regulators excellent work on the NIE Price Control, backed by the Competition and Markets Authority, has effectively frozen network charges allowing the drop in gas commodity prices for our generation market to be felt by customers. Competition in the retail market is also having a positive impact as we witness significant amounts of switching with customers opting for the best price driven by low margin, high volume electricity suppliers. It pays to shop around.

For us, at the heart of a new Industrial Strategy should be a long-term commitment to industrial derating, a target on energy prices to be competitive within Europe and a commitment to create a labour environment – skills development and employment law – which facilitates and encourages long term, permanent jobs to be created.

But it’s certainly not the time for Regulators, policymakers or energy companies to take their eye off the ball. There’s a huge amount of uncertainty around the redesign of the all-island Single Electricity Market, bills will rise by £9m pa from January as customers are forced to pay for the refurb of Ballylumford and the threat that the cost of renewables could double or even treble from 2017.

The current NI Executive’s commitment to industrial derating has saved firms and it is important that any new Programme for Government in 2016 continues to support this policy which retains these critical provincial manufacturing jobs. It will also send a positive investment signal to those considering expanding and bringing more jobs online.

The past eight years have been an incredibly difficult for manufacturing, but through great leadership, hard work and positive policy decisions by the Executive, we have seen manufacturing begin to recover. Next year’s election and the Programme for Government will hopefully set a course for continued growth.

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The deepening roots of Westland’s growth

Westland Horticulture has been steadily growing its widespread business over the last few years and now counts itself as one of the biggest distributors of horticultural and gardening products in the UK. Established in 1990 in Dungannon, it is one of the UK’s largest producers and distributors of garden products to retail and industry. As well as the Dungannon plant, it also has three sites in Britain, one in Germany and a sales office in Poland. It supplies a wide range of gardening products to the industry including growing media, lawn treatments, lawn seed, plant food, pest control, fungicides, weed killers and mulches. Westland also owns Unwins, a range of horticultural seeds, and wild bird feed ranges Peckish, Nature’s Feast and Bucktons. Westland’s products are available for purchase in independent garden centres, large retailers on the high street and online and also in most supermarkets across the UK.

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TOP 100 COMPANIES

Growth has come about acquisitively – through the purchase of the likes of Cranswick Pet Products for £18m and Unwin’s Seeds in 2002 – and organically.

and contribute over £2m annually to the local economy and was helped by £1.5m of Invest NI support, including £669,729 through its Skills Growth Programme.

In 2015 it invested £9.6m into a new fertiliser plant at Invest NI’s recently developed Dungannon Business Park, and also invested in new machinery and training.

Joint Managing Directors Edward Conroy and Robert Lavery said the investment was a key part of the company’s growth strategy.

The move helped create a further 70 jobs

“This is an immensely important strategic investment that will enable us to grow our

market share in the consumer lawn care market and control our innovation pipeline,” Mr Conroy said. “The new and very sophisticated plant enables us to bring the manufacture of some fertilisers in-house. It will enable us to respond faster to market opportunities in Britain, Ireland and other European markets that we have identified as offering significant growth potential in both short and medium terms. “We already have a presence in both the German and Polish markets and intend to focus further resources on both, and other neighbouring regions. “The investment we are making in skills will also support the export drive by increasing the efficiency and flexibility of our people.”

“The new and very sophisticated plant enables us to bring the manufacture of some fertilisers in-house. It will enable us to respond faster to market opportunities in Britain, Ireland and other European markets.” Dungannon remains the company’s headquarters and also the location for the production of all growing media including the patented West+ peat alternative.

Enterprise, Trade and Investment Minister Jonathan Bell is pictured with Robert Lavery of Westland Horticulture following the company’s recent announcement that it’s to create 70 new jobs as part of a £9.6m expansion. Photo by Simon Graham/Harrison Photography.

AUGUST 2015

Its Alconbury plant in Cambridgeshire produces all other product lines apart from growing and bird care products, accounting for around 10 million products each year. It’s also home of Unwins & Marshalls online seed business. In Driffield, East Yorkshire, Westland produces all bird feed products through Cranswick Pet Products’ state-ofthe-art facilities to produce the very best quality bird feed.

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TECHNOLOGY

Rewired for digital Michael Noble from IT body Momentum takes a look at the Top 100 Companies list from a technology point of view.

he results are in and the list of the top 100 companies in Northern Ireland is in front of you now.

We at Momentum have been highlighting the importance of the digital sector to the region. We estimate it turns over nearly $2bn and employs over 30,000 people mostly in high value very well paid jobs, but there is a dearth of pure technology operations in Northern Ireland represented on the list. Many of the companies on the list will not come as a surprise to you, but they all increasingly rely on technology in order to perform their business and all will have a significant investment in infrastructure and support. Many are already changing in order to reflect the new reality that technology saves business money, allows them to reach new markets and allows them to operate in ways they couldn’t have imagined a few years ago. Why are there so few pure technology companies on the list? By its definition technology is new and the majority of pure technology companies here have only arrived in the last few decades, when as a region we were competing for foreign direct investment with another EU state similar in every respect to ours, but with a much better image and a welcoming tax regime. For that reason profit centred technology companies

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have gone south (Microsoft, Apple etc.) and cost centred organisations have set up in Northern Ireland (Allstate, Citi etc.) and there is a big debate about which model offers most benefit to the local economy. Profit centres are more embedded in the local community, with corporate social responsibility to the region, greater local autonomy and a wider variety of roles such as sales & marketing and technician level roles allowing such things as career progression for those who start their careers with lower qualifications.

“In Northern Ireland we have had tremendous success in creating jobs and attracting these new businesses – but these have in the main been engineering costs centres.” Engineering cost centres provide generally higher value jobs and a stronger connection with a global corporate organisation. They

bring their own markets and funding meaning their only need from the local economy is people with the right skills at the right price. There is a third category which contains indigenous companies, formed locally, declaring profits locally and sharing many characteristics with foreign owned profit centres. However these companies are much more needy from a local development point of view. Often the organisation lacks experience in accessing global markets, raising finance and competing with the established big name investors for much needed skills. The backbone of the German economy is the ‘Mittlestand’ which is almost exclusively based on local small and medium enterprises selling into niche markets globally. In Northern Ireland we have had tremendous success in creating jobs and attracting these new businesses – but these have in the main been engineering costs centres. This seems to be the market that our local agencies have targeted to the biggest effect. There is no reason to believe that this will change but have we become too dependent on these mobile cost conscious jobs and does this pose a risk to continuing to improve the economy? Supporting indigenous and profit centred organisations across every sector is difficult but does that mean we shouldn’t focus on it?

Gilbert-Ash

Construction companies in the Top 100 listing have had a tough time over the last few years since the credit crunch, but the fightback is well and truly underway. The industry is slowly recovering amid a slightly looser lending environment and a more positive economy and the builders in the Top 100 are regaining some of their shine.

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One of those is Gilbert-Ash, the construction and fit-out company behind some of the most notable building projects in Northern Ireland over the last few years, such as the Lyric Theatre, the refurbishment of Ravenhill Stadium and the new Giant’s Causeway Visitor Centre. But while it has firmly established its credentials at home, its resurgent fortunes have been hard won by plying its services elsewhere. In fact, at any one time up to 100% of the company’s business is being undertaken

outside Northern Ireland where large-scale building projects are more plentiful. It works in Poland, Bahrain, China, Japan and Australia, as well as many jobs closer to home in the rest of the UK and the Republic. “Gilbert-Ash has long undertaken projects overseas in countries like Poland, Bahrain, China, Japan and Australia,” said Ray Hutchinson, managing director of GilbertAsh. “But we’ve been much more focused in our approach over the last few years, in particular winning a number of multi-million pound contracts in the Arts & Culture sector.”

In October, the Gilbert-Ash constructed Everyman Theatre in Liverpool won the 2014 Stirling Prize, one of the most prestigious prizes in the industry. Also, in Liverpool the company has recently finished Phase 1 of the major refurbishment of another landmark site, the Liverpool Philharmonic Hall. In London, Gilbert-Ash has been appointed to carry out the £20m refurbishment of the world-renowned Bartlett School of Architecture at University College London and is making progress on the

AUGUST 2015

new Fetal Medicine Centre of Excellence at King’s College Hospital in London. Work is also progressing at a rapid pace on the £20m refurbishment of the Institution of Engineering and Technology building in Savoy Place in London, as well as a £13m contract to refurbish and extend the National Army Museum in Chelsea, and the redevelopment of the landmark Battersea Arts Centre in South London.

Pictured from (l-r): Gerry Hughes, Construction Director; Sean Moore, Surveying Director; Finbarr McMeel, Technical Director; Raymond Gilroy, Construction Director; Mark Nutt, Commercial Director; and Ray Hutchinson, Managing Director.

And such is the workload that the company has announced it created 40 new jobs in the first half of 2015.

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ENTERTAINMENT

Pictured are Pete Snodden (centre) of Cool FM; SSE Airtricity Managing Director, Stephen Wheeler (left) and Robert Fitzpatrick, Chief Executive of the Odyssey Trust (right).

SSE signs naming rights agreement with iconic venue New chapter in Odyssey journey

ne of Northern Ireland’s most famous entertainment venues, the Odyssey Arena, will be renamed The SSE Arena, Belfast when it opens following refurbishment this September. The naming rights deal was announced at a special event in July. The world-famous venue first opened in 2000, and has hosted local and international stars from the world of music, sport, comedy and even politics. The agreement will see a new name and identity along with a range of other benefits for SSE Airtricity customers including a dedicated customer lounge, exclusive offers and priority booking. The SSE Arena, Belfast will join the UK-wide stable of SSE entertainment venues including the SSE Hydro in Glasgow and the SSE Arena, Wembley. The 10-year agreement forms part

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of the upcoming refurbishment of the venue which will see improved facilities throughout. SSE Airtricity Managing Director, Stephen Wheeler welcomed the announcement which sees SSE partner with one of the UK and Ireland’s best known sports and entertainment venues. He said: “At SSE we place our customers at the heart of everything we do and this agreement not only signifies our growing commitment to Northern Ireland, but delivers direct benefits to customers by giving them a unique experience when they visit the world class SSE Arena, Belfast. “Already an iconic venue, The SSE Arena, Belfast’s upcoming refurbishment will ensure it continues to deliver world class events and entertainment to people across Northern Ireland. The range of sport and entertainment means there will be

something for all our customers and we are delighted to be associated with the venue. I look forward to welcoming people from across the UK and Ireland to The SSE Arena, Belfast in September,” he added. Robert Fitzpatrick, Chief Executive of the Odyssey Trust said: “Our new naming rights deal with SSE heralds the next exciting chapter in the continued development of Northern Ireland’s iconic entertainment destination. The SSE Arena, Belfast will benefit from the shared vision SSE has with the Odyssey Trust of delivering world-class live entertainment to the people of Northern Ireland, along with our many international visitors, and it comes at a time when the Odyssey Trust is investing significant resources in further enhancing the Arena’s facilities to ensure that The SSE Arena, Belfast is recognised as one of the premier live entertainment venues worldwide.”

TRAVEL

Change is in the air Northern Ireland’s air connections are hugely important and we ignore them at our peril, says Mukesh Sharma, managing director of World Travel Market and Selective Travel Management.

n business terms, being ‘well connected’ goes far beyond networking. Genuine and effective business relationships are of course central to commercial success, but how do you establish, nurture and sustain those vital links when connections of a different kind are letting you down? Northern Ireland’s communications infrastructure is certainly at a high level and, as Invest NI reminds wouldbe investors via its website, this was the first region in Europe to achieve 100% broadband coverage and one of the first to operate and experience high speed and secure next generation services with a new 40-gigabyte-persecond transatlantic and terrestrial telecommunications link between Northern Ireland, North America and Europe.

“Where we lag behind – and it is already costing us money, jobs and future opportunities – is transport infrastructure.” There is no room for complacency and I am well aware that many rural small businesses here still struggle with access to broadband, but I think we deserve a tick in that particular ‘good connections’ box.

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Where we lag behind – and it is already costing us money, jobs and future opportunities – is transport infrastructure. The ports of Belfast (the busiest in Ireland), Londonderry, Larne and Warrenpoint continue to provide vital and efficient links to Britain and beyond, but I see little sign of the ‘the first-rate road network with minimal levels of congestion’ and there is little positive to be said about our miniscule rail network. Still more important, we are poorly provided for

in terms of air connectivity and we need to address that issue while there is still time. I have to declare my own personal passion for aviation and its benefits, but way beyond the personal view, lies a well-accepted understanding that robust air connectivity is essential when it comes to securing international business. When Northern Ireland plc is setting out its stall in Shanghai, Delhi or Rio, potential investors will not be wondering >

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TRAVEL

what the road and rail links are like between Coalisland and Kilrea, they’ll be asking about air connectivity with Belfast. In Northern Ireland we have, to a certain extent, been spoilt for choice. Wherever we are located, we expect to have an airport right on our doorstep while, around the world, most people expect to travel a minimum of 45 minutes to reach a major airport. By demanding that level of convenience and dividing our custom, we have actually acted as a barrier to achieving what Northern Ireland now desperately needs: one large airport suited to the needs of the modern traveller. Concentrating our resources and investment on one well-equipped modern airport has obvious benefits in terms of the quality of the terminal and the facilities and services it could provide. A single airport would also be better positioned to attract the new routes and airlines which are so desperately needed

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if we are to reach into new international marketplaces around the globe. Let’s not kid ourselves: we’re a small region with a small population. It is highly unlikely therefore that we will ever be able to support an airport of the size or significance of, say, Dublin or Manchester but we could do a whole lot better than we’re doing presently. Northern Ireland could most certainly support additional direct routes and we should be in a position also to bid successfully for new airlines to do business here. While investment in the physical infrastructure to facilitate improved air connectivity is long overdue, there are other factors to consider. Air Passenger Duty continues to act as a ‘sales prevention tool’, making it considerably more expensive to fly in or out of Northern Ireland than it is to use Dublin Airport, just down the road (and an excellent road it is too). It’s bad for business travel and even worse for a tourism industry which is just beginning to find its feet in the north.

Importantly, we also need to position ourselves to benefit from the recent declaration on a bigger future ahead for London Heathrow. While the debate around LHR continues to rumble, if that airport is to be developed to support the UK in a global context then we need to act to secure some of that enhanced commercial animation. An expanded Heathrow could clearly support additional rotations out of Belfast. However, it is still important that we work to grow and develop more direct international routes out of Northern Ireland. The opportunities are clear, but capitalising on them requires commitment, investment and action. Abandon Air Passenger Duty and let’s focus our attention and investment on one great airport and we could see opportunity take flight, to the ultimate benefit of all. There’s never been a better moment for Northern Ireland plc to embrace change… or a worse moment in which to ignore the need for change in the air.

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DIASPORA

Spreading the word Andrew Cowan, Chief Executive of Northern Irish Connections, reveals the influence our diaspora has around the world.

n boardrooms around the world there are people with connections to Northern Ireland successfully holding top positions and wielding significant influence within their business communities. We need look no further than NI Connections ambassador Jim Clerkin, whose career has taken him from a small pig farm in Rostrevor to the top position of president and CEO of Moet Hennessy US, a company which produces revenues of $1.8bn. There are over 10m first and second generation Northern Irish diaspora living away from our region, a number that increases to 20 million if we look to those with third generation connections. You will find the Northern Irish diaspora in over 50 countries around the world including the US, Canada, Hong Kong, Tanzania, the United Arab Emirates, Russia and Sri Lanka. 2015 has been an exciting year for our organisation and it has given us the opportunity to see first-hand the appetite from friends of Northern Ireland around the globe to engage with us to benefit home. We

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believe that there has never been a better time to reach out to our diaspora network to realise long term benefits for local businesses, organisations and the economy. We are already delivering tangible results in each of our four core areas of activity: Education, Investment, Innovation and Tourism. Most recently NI Connections, through its network, enabled the awardwinning Shortcross Gin to secure a listing at The Loop in Dublin Airport where 23 million passengers per year will be able to purchase and savour a taste of Northern Ireland. We think that this is a great example of what NI Connections is all about, making connections that mutually benefit our members, helping them to widen their networks, make new contacts to collaborate with and ultimately to grow their businesses. In addition we have brought new investors, mentors and innovators to our universities, Invest NI and the Northern Ireland Science Park and laid the foundations for the Gourmand international food event to come to Northern Ireland

which, if confirmed, would deliver approximately ÂŁ3.45m to the economy. In the coming months we will be actively and directly connecting further with our diaspora in America, where there are over six million first and second generation people with a close connection to Northern Ireland. We have already hosted and supported over 30 events in 16 cities across 4 continents and in the coming months we will be expanding our reach into new markets. We have plans to run eight NI Connections events in key areas for our diaspora including Canada and China. We have already garnered the support of high profile local names and ambassadors to help us bring the best of our talent to these events, which are open to all of our diaspora. Our network is open to anybody with an affinity to Northern Ireland through birth, education, business or just being connected in some way through sport or culture. By engaging our diverse and influential diaspora we can help reap business and cultural opportunities for our members, and for Northern Ireland.

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SKILLS

Priming the skills base Skills are one of the most important components of a successful and efficient economy. Employment and Learning Minister Dr Stephen Farry says his focus is on growing this critical resource.

kills are widely accepted as a key driver to ensure Northern Ireland can achieve its economic goals in a modern knowledge based economy. As Ulster Business publishes its annual survey of Northern Ireland’s Top 100 companies, skills are already central to the narrative around industry growth. Furthermore, there is now a growing focus across the UK, and in particular in Northern Ireland, on the need to increase productivity levels within the economy. Increased skill levels locally will help firms adapt more quickly and effectively to change allowing them to invest, to innovate, to seek out new markets and to grow. Our economy is hungry for higher level skills, and continued investment in their provision is paramount to our success. In particular, we need a workforce with more focus on science, technology, engineering and maths skills; and strong management and leadership skills. In meeting the needs of business, we have a number of key levers. Our colleges and universities are highly regarded internationally, and noted for their responsiveness to the needs of the local economy. The further education sector plays a pivotal role in developing a strong and vibrant economy, through the development of professional and technical skills, increasingly at higher levels, and by helping employers to innovate. I recently launched a consultation on a new Further Education Strategy for Northern

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Ireland which aims to deliver an ambitious and prestigious sector that will be recognised locally, nationally and internationally for high quality and economically relevant education and training. DEL’s Assured Skills Programme builds upon this solid base through offering tailored programmes to address the very specific requirements of indigenous companies and investors, through for example an ever growing range of conversion Academies in priority skills areas such as software testing, cloud computing, data analytics, internet security and financial services. There has been a renewed focus on apprenticeships as a mechanism to improve and encourage skills development and innovation. Well-developed apprenticeship systems from Australia and Germany have been found to secure benefits to the local economy, through significant net returns on public investment in apprenticeships. Apprenticeships benefit employers of all sizes. The new Northern Ireland Strategy on Apprenticeships entitled ‘Securing our Success’ will ensure our economy has the skills needed to grow and compete globally and simultaneously radically transform our skills landscape. Apprenticeships are now offered in a much wider range of skill areas – in effect, any occupation requiring professional and technical training, and the full spectrum of skills levels, from Level 3 (A level) to Level 8 (PhD). A skills barometer will also be established to support the better matching of supply and demand with employers by providing a clear indication of current, emerging and long term skills needs.

I encourage our future leaders and managers in Northern Ireland’s top companies to grasp the opportunities available to upskill in order to unlock the potential of their workforce, increase their productivity and further grow our economy. Strong leadership and management skills are vital to improving the performance of our local businesses and to achieving sustained economic growth. My Department’s Management Development Branch offers a number of funded programmes for first line, middle and senior executives in local Micro Businesses, Small to Medium-sized Enterprises, and Social Economy Enterprises. The Management and Leadership Development Programme comprises 29 management development interventions which offer managers the opportunity to acquire skills, knowledge, understanding, competencies and attributes that can only be developed through carefully targeted development and guidance. The INTRO Programme provides quality management training for degree and HND graduates and shapes managers for the future by giving them a broad perspective on business and management, whilst providing value and a measurable return on investment for the employers. In addition, the Leadership and Management Skills Assessment (LMSA) is a free online diagnostic tool which enables users to assess their leadership and management skills.

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ENGINEERING

Engineering new talent By Darren McVicker, Managing Consultant, Vickerstock Engineering Recruitment

he skilled engineer has never been more popular. Demand for her or his skills are on the rise and it would be fair to say it has never been a better time to work in the sector. A recent study by Nixon Williams showed that within the UK, 159,000 jobs were created within the UK engineering sector in the year to April 2015. And a survey by Engineering UK said 257,000 new engineering vacancies will appear in the coming year and that the level of skills produced by the education system in the UK won’t be sufficient to meet that demand. To find out why the industry has found itself with a dearth of skilled workers, you only need to take a look at the demographic on the factory floor. The combination of an ageing workforce coupled with a lack of investment in apprenticeships and a shortage of young people entering the engineering profession has resulted in a chronic shortage of skills at all levels.

“If the sector as a whole has everyone contributing to continued learning and upskilling then surely it can make for a stronger skill base.” Despite many initiatives to attract young people into the sector, there still remains a skill shortage and the challenge is to not only remove the stereotypical viewpoint of the engineer with an oily rag but to promote the opportunities the profession holds and the unlimited career paths that are open to those joining the engineering sector. And those openings are some of the most interesting, exciting and challenging of any profession, with some of the best career opportunities available. If we look to Germany, where vocational apprenticeships are embedded into society, there is a better flow of young people entering the engineering sector.

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The benefits, beyond the obvious increase in the number of skilled workers entering the profession, are the individual attitudes to continual learning and upskilling which, of course, is facilitated to a greater extent by company culture. It is difficult to hold back progress but if the sector as a whole has everyone contributing to continued learning and upskilling then surely it can make for a stronger skill base to meet the continued progress? The sector certainly holds plenty of attraction for young people. Northern Ireland’s engineering sector continues to develop new and exciting technologies which improve and revolutionise how we live and this shows no sign of abating. We continue to punch above our weight within engineering advancements. The sustained push for investment in research & development and subsequent job creation is testament to this. The sector needs to use this to attract more young people into engineering and we should also ensure we continue to develop the skills of everybody in the industry on a continued basis.

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LIFE AND HEALTH SCIENCES

The science of life Alan Armstrong, CEO of Top 100 company Almac Group, gives his view on the opportunities and challenges facing Northern Ireland’s growing Life and Health Sciences sector.

health service and over 1,000 researchers in centres of excellence at our universities, both important partners for industry. It’s certainly a sector which is a key focus for further growth with hopes to double the size of the sector in terms of employment and to generate revenues of £1.6bn by 2020. There is no reason why these targets should not be met as Northern Ireland is an ideal base for many companies in the sector thanks to a combination of a talented pool of graduates, worldclass research and strong links between industry and academia to commercialise research. In addition, a lower cost base than many other parts of the UK and a potentially lower rate of corporation tax from 2017 will hopefully lead to increased FDI. The sector also accounts for more than 12.5% of Northern Ireland’s exporting business, with companies exporting goods and services to over 140 countries.

he life and health sciences sector in Northern Ireland, which is gaining an international reputation for innovation and excellence, is a fast growing one with latest turnover calculated at £1bn a year, according to Invest NI. Although it is comprised of around 130 companies, including those who make medical devices and health and well-being businesses, around 80% of its turnover is from the pharma industry alone. The most recent figures from 2013 show that the sector employs around 7,500 in the private sector but even in the short time since those figures were calculated it has seen significant growth, for example at Almac alone we now employ more than 2,330 at our headquarters in Northern Ireland, 350 more than two years ago. Aside from this there are also around 66,000 staff working in the

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As a world leading drug development and commercial services provider, offering an extensive range of integrated services to over 600 customers in the pharmaceutical and biotech sectors globally, we continue to have huge opportunities for growth as the global life and health sciences industry is worth a massive £900bn with up to 10% annual growth. With over 50 depots on six continents, Almac makes 250,000 shipments each year to over 80 countries. We have operations across the US – in Pennsylvania, North Carolina and California – and have just opened our new Asia Pacific headquarters in Singapore to best serve the company’s client base in the region. But although our clients are all over the world, as an indigenous company our focus is very much on continued expansion and job creation here. Last year we announced plans, with the backing of Invest NI, to invest £54m and create 350 new jobs in Craigavon in the next five years. Around half of those job are science-based while the others are open to those from non-science backgrounds. >

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LIFE AND HEALTH SCIENCES

So how do companies like ours in Northern Ireland take full advantage of the opportunities which the growing life and health sciences sector is offering globally?

We also currently employ people from over 30 different nationalities at our Craigavon headquarters, each of whom brings a wealth of expertise and talent.

Investment in R&D by business and government is paramount for Northern Ireland to be able to compete globally in life and health sciences, particularly in the areas including biotechnology and biocatalysis which are now becoming critical drivers in both the local and global economies.

We are immensely proud of our cutting-edge scientific research including the discovery of a new class of drug molecules which offer a novel approach for treating cancer – which has resulted in a recent deal worth around £200m with the world’s leading oncology company Genentech.

Education is also a key driver. We are fortunate to have a wellqualified pool of graduates in Northern Ireland but there is always a need to ensure we are training enough people to a high level to ensure future global success. As one of Northern Ireland’s leading businesses in the life sciences sector, we believe that we have a responsibility to encourage young people here to consider STEM careers which help to grow a dynamic and innovative economy.

Collaborations with scientific centres of excellence, like those at Queen’s University, are also incredibly important to us to help make new discoveries to advance human health.

We have strong links with schools and universities across Northern Ireland through our education programmes to highlight opportunities available within our company from an early stage.

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But we’re also keen to highlight that you don’t necessarily need to have a scientific background for many of the jobs in life and health sciences. We are creating opportunities all the time in a range of services, for example in IT, project management, marketing and engineering, as well as in the expected scientific fields so it’s a sector that needs driven by people with varying skillsets, not just those in white coats.

ENERGY

Wind energy: cleaned out? Mark Stockdale, Associate at A&L Goodbody takes a look at the increasingly choppy world of wind farm subsidies.

t is safe to say that the recent Budget announced by Chancellor George Osborne came as something of a shock to the clean energy industry. Already reeling after the sudden early closure of the renewable obligation regime subsidy in Great Britain, owners and developers of wind farms and other renewables were disappointed to learn that the subsidy provided through the Climate Change Levy tax scheme would also now be closed. As a result, generators of clean energy will no longer receive levy exemption certificates (known as LECs) to supplement their income. The Government has stated that it believes that the scheme is out-dated and no longer offers value for money. To a certain extent this is not surprising, particularly in Northern Ireland, as in recent years there has been an over-production of levy exemption certificates by renewable generators with the result that new generators have found it difficult to monetise these in the long term. PwC estimates that levy exemption certificates are worth around five per cent of the income of a typical wind farm each year. This loss will likely be felt hardest by wind farms which are already operational, as recently financed projects in Northern Ireland may not have placed much value on the income from these

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certificates. Coupled with the recent increase in business rates, the last 12 months will have been particularly difficult for long-term renewable investors in Northern Ireland. As tax policy has not yet been devolved to the Northern Ireland Assembly this decision by Westminster will take effect across the UK, with no ability for local politicians to influence its implementation. The current position is that as of the 1st of

August 2015 clean energy will no longer be eligible to receive levy exemption certificates and those which have already been sold to businesses must be used or will become worthless after this date. Unsurprisingly there has been an outcry by the clean energy industry and the lobbying has already begun. Given the Conservative governmentâ&#x20AC;&#x2122;s stated position on renewables, a sudden U-turn feels unlikely.

AGRI-FOOD

Food for thought How healthy is Northern Ireland’s agri-food industry? Maynard Mawhinney takes a look.

uch attention has been focused on the agri-food industry over recent years and this has created an expectation as to what will be delivered on the ground. The former minister for the economy has been a strong champion for the sector and this is recognised across the industry. There clearly is a sense in which the resilient agri-food industry is almost quietly getting on with it and delivering growth. The infrastructure to support new product development and the training of specialist staff has been enhanced by the recent opening by Minister O’Neill of the new state of the art Food Innovation Centre at CAFRE’s Loughry Campus. This facility is one that Northern Ireland industry must avail off and fully utilise if the industry is to continue to innovate and respond to an increasingly discerning consumer. The people with the skills and qualifications to grow the industry are increasing year on year with a higher number of CAFRE students graduating in June of this year. It is also encouraging that there is now a waiting list of new food ventures anxious to take space in the Loughry Food Incubation units.

applauded with a move that delivers for farmers and the companies. Their continuation to look to selling product outside Northern Ireland recognises the potential that exists and this is in part achievable by the new state-of-the-art facilities at Ballyrashane.

Many Northern Ireland companies have revisited packaging and design and some have deemed the time to be right to confidently engage in brand development. The Thompson’s Tea story has been lived out in our living rooms through clever TV advertising and a journey experience which has recognised the customer, the market and married that to the family story. The company, again as encouraged by Going for Growth has been looking well beyond the Northern Ireland market but has tailored it’s quality product accordingly. Newry-based Around Noon has fully utilised market research into the grab and go market as part of its journey with the resulting “Scribbles” brand which promises to deliver fine food with attitude. This confidence to stand over the claims of a brand is growing and with it the market research and communications strategies that keep the product relevant and fresh in the consumers mind.

With some 74% of Northern Ireland businesses being family owned, the need remains to look and plan for the future. Many of these companies are located in rural communities and provide vital employment and wealth creation in these areas. There is with these businesses an undeniable commitment, passion and belief in the enterprise and retailers and customers recognise this. These family owned SMEs are vital for the future of Northern Ireland but the need clearly remains to do more to engage with these businesses in training and planning for future leaders, succession and the concept of backing such potential winners. Investment made by these SMEs is often nonmobile but the permanence of the operation, with appropriate help, is more likely. Leadership programmes developed by BDO/QUB are so important in this regard as is succession training provided by CAFRE.

Against a background of concern in relation to milk prices, the proposed merger of Ballyrashane Co-operative with Town of Monaghan Co-operative is silently delivering on the recommendations of many sector reports that the industry needed rationalisation. The vision of both CEO’s and the respective Boards is to be

Join me in applauding those companies that have visited branding and have had the confidence to stand over the quality they offer; recognising what the industry has in CAFRE and fully utilising that; and in better embracing the benefits of family owned SMEs and planning for the future. The future is bright!

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TOURISM

A warm welcome? Niall Gibbons, CEO of Tourism Ireland, outlines the economic impact of overseas tourism for Northern Ireland and the work of Tourism Ireland.

ourism Ireland is responsible for promoting Northern Ireland and the island of Ireland around the world as a premier holiday and business tourism destination. Since Tourism Ireland was established, almost 23 million overseas visitors have come to Northern Ireland, generating approximately £4.7bn for the economy, against a total investment in overseas marketing of £187m. Northern Ireland’s share of overseas visitors to the island of Ireland is now 21%. Official NISRA figures show that we welcomed almost 1.8 million overseas visitors to Northern Ireland in 2014 – an increase of +6% over 2013, or an additional 96,000 visitors. Growth was driven mainly by visitors from North America (+38%) and Mainland Europe (+9%), with GB visitors up +1%. Holiday visitors from overseas grew by +11%, with significant growth from our main markets of GB (+12%), North America (+16%) and Mainland Europe (+19%). Overseas tourism delivers some £446m for the Northern Ireland economy, helping to sustain valuable employment in communities right across the province. And, I am pleased to report that sentiment from our tourism partners around Northern Ireland for 2015, including

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hoteliers and visitor attractions such as Titanic Belfast, is largely optimistic. Tourism Ireland is undertaking an extensive marketing campaign throughout 2015, to continue to grow visitor numbers to Northern Ireland. Priority markets are GB, the US, Canada, Australia, Germany and France, which together deliver the majority of our overseas visitors. Our promotional activity is also under way in more than 16 other markets across the world, including northern and southern Europe, Australia, New Zealand, South Africa and the Middle East, as well as in key emerging markets like China, India, Russia and Brazil. The Causeway Coastal Route and driving holidays in Northern Ireland are a key focus for Tourism Ireland once again this year. We also continue to highlight iconic attractions and experiences such as Titanic Belfast and the Giant’s Causeway. Building on our very successful and ground-breaking Game of Thrones campaign in 2014, we joined forces with HBO again this year, to promote Northern Ireland’s connection with the hit fantasy series. The Irish Open at Royal County Down at the end of May also provided a superb platform for Tourism Ireland to increase the international focus on golf in Northern Ireland and our ‘Home of Champions’ campaigns leveraged the huge interest in our key markets. We are

also highlighting new visitor experiences for 2015, including the refurbished Mount Stewart and the Gobbins Coastal Walk, as well as festivals and events like the return of the Tall Ships to Belfast. Tourism Ireland’s annual publicity programme creates thousands of opportunities for potential visitors around the world to read, hear or watch positive messages about Northern Ireland. In 2014, more than 2,000 print, online and broadcast articles and stories delivered positive messages about Northern Ireland to potential visitors around the world. We estimate that this exposure was worth approximately £99m in equivalent advertising value. Securing new and extended air access services for Northern Ireland is a key priority for Tourism Ireland, particularly from markets like Germany, France and Canada. This summer, air capacity to Northern Ireland is projected to grow by +10%, with new flights to Belfast from Verona, Amsterdam, Keflavik and Amsterdam. We have a busy programme of co-operative marketing with both air and sea carriers in place for 2015, to maximise demand for services to Northern Ireland. Ambitious targets have been set for 2015, which will see Northern Ireland welcome almost 1.9 million visitors from overseas, representing growth of +6% over 2014.

NI businesses: learn how you can COMply with oil storage regulations

re you in business in Northern Ireland and have fuel or oil storage tanks? If so, you may be aware that time is running out for your organisation to comply with the environmental safety regulations that went into effect back in 2011. If your company is not using “bunded” fuel and/or oil tanks by December 2015, you could be hit with a non-compliance fine as high as £20,000.

What is a “bunded” storage tank? A “bund” is simply a double-walled storage tank that seals the primary tank. This “tank within a tank” design will help prevent oil spillage and protect the environment. The Northern Ireland Environmental Agency released the legislation in efforts to promote better oil storage, protect the environment against contamination from single skin oil and fuel tanks, and minimise the risk of oil loss and spillage. (To read more information about the new regulations visit the Department of Environment website: www.doeni.gov.uk). Kingspan Titan can help you comply with the new standards. We are the leading manufacturer of “bunded” tanks in the UK. We manufacture a wide range of compliance-ready “bunded” storage tanks from 1,000 to 60,000 litres, each equipped with a remote Watchman oil level monitor and theft alarm. We also offer fuel storage and dispensing tanks including steel “bunded” tanks for large storage capacities. Our team of experts will provide you with full support. We can offer a one stop shop solution which includes a free site survey, guidance on which fuel/oil storage tank best suits your specific organisation and the decommissioning of your existing storage tank. We will also provide you with a certificate of compliance after installation, so you can be worry free! Kingspan Titan prides itself in its customer service levels and guarantees a simple and cost effective solution for your business. When it comes to changing your tank, make sure to come to the industry experts. We make it our business to keep you right.

To speak with our experts and/or schedule your site assessment, contact our Portadown office on 0333 456 4455 or email: nifuelregs@kingspan.com.

HOSPITALITY

Check-in time Bill Wolsey, managing director, The Beannchor Group, takes the temperature of the hospitality market in Northern Ireland. we need political stability and we urgently need to improve the levels of professionalism within the hospitality sector. Our main concern when surveying the landscape of the hospitality industry is that in time, the supply may surpass demand. In Ireland, whenever a sector is in growth, there tends to be a rush to invest and the market can quickly become saturated. There is definitely a danger that the hospitality sector may be growing too quickly versus consumer demand.

n the hotel sector, we have seen modest growth in occupancy over the last 12 months but Belfast is still lagging behind other major European cities.

Increased optimism within the sector has given us the confidence to invest and we were proud to announce plans for our new £4m Belfast city centre announced this summer. That being said we have planned this latest venture very carefully to ensure that the proposition offers consumers something that does not currently exist in the Northern Ireland hotel market. Whenever we launch a new venture, we look at the opposition and we make a judgement call on whether we can create something new that will compete and beat what’s currently on offer. Our new hotel, which is scheduled to open in spring 2016 will target younger, tech-savvy consumers, with a vibrant open ground floor space that will create a new hub for people working and living in Belfast city centre. It is a brand new proposition in the market and a project which the Group is very excited about. The hotel industry is hugely optimistic that the new Belfast Waterfront will bring a raft of new conferences to Northern Ireland and we hope that is the case, but we need much more than this for a truly vibrant hospitality industry. More than anything

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For pubs, the trading climate is definitely more difficult. Business has flattened over the last two years and there has been a spectacular amount of money spent on refurbishments of properties that haven’t worked. This is a sign that the number of pubs is outweighing demand and that there are too many pubs chasing the same market. I expect we will see a reduction in the number of pubs by 10-15% over the next five years – particularly in working class and rural areas, where trade has been most affected. Pubs that focus on locally-sourced food, craft ales and are comfortable and well-designed will be the ones that will succeed. Outdoor areas are also becoming increasingly important. Northern Ireland PLC also needs to up its game. We need to create a friendly and welcoming environment that’s conducive to offering an exceptional visitor experience. Issues such as Sunday and Easter trading need to be addressed to ensure we are operating on a level playing field with our neighbours in the Republic of Ireland, the UK and Europe. We need to encourage entrepreneurialism and increase the number of artisan and craft producers and diversify our retail offering, as this all adds to the visitor experience. For Beannchor and for the wider industry, one of the main challenges will continue to be finding staff of a sufficiently high calibre, particularly at senior management level. Our staff are our biggest asset – the people that sell our businesses directly to the customers, so it is vital that we have the right people in place to ensure our continued success. This is an issue that must be addressed by our education system. For the sector to thrive, we need a supply of capable and skilled people. As employers, we strive to create long and meaningful careers for our employees but the education system has an important role to play in promoting hospitality and tourism as a viable long-term career option.

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ANALYSIS

Maturing needs John Simpson says organising sufficient care for the elderly in Northern Ireland is a social and business challenge.

anaging the demands on acute hospital services is complex, fraught with difficulties in ordering priorities, and regularly faces demands (and needs) that stretch the ability to provide adequate responses. Much of the tension arising from the efforts to deliver â&#x20AC;&#x2DC;Transforming your careâ&#x20AC;&#x2122; relates to acute services provided by GPs, A&E facilities and affected by hospital waiting times for admission or treatment. Those tensions in the delivery of acute services can be expected to continue.

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However, there is an overlapping spectrum of service needs that has attracted less debate: caring for the elderly. In some ways, caring for the elderly is the more difficult and demanding set of problems. Northern Ireland is entering a period when care for the elderly needs will increase steadily and a review of the business case for future budgeting is emerging.

The evidence on needs in providing care for the elderly is compelling. The number of older people is increasing steadily. Life expectancy has increased. Many are enjoying longer active (and fit) working lives. However, the number living with mental and physical frailties is increasing probably faster than the number in that population group. In addition, the number of elderly people living alone is an increasing feature of this age group.

There are 280,000 people in Northern Ireland who are 65 or more years old.

Care for the elderly is evolving in different ways in England and in Northern Ireland.

33,000 are over 85 and that number has increased by 40% in the last decade.

In England, there are plans to implement the Dilnot proposals where the elderly

ANALYSIS

systems have the objective of helping elderly clients to live and receive services that support people to remain in their own home. The remit of GPs, community nursing and social services is to facilitate independent living as long as practical. Critical to this ambition, the services from Integrated Care Partnerships are slowly evolving and, in parallel, in appropriate circumstances, independent living for a small number of people is helped by arranging that personal financial allowances are allocated for ‘self-directed support’: families can allocate the funding to back up their own arrangements for services. The emphasis on care at home is understandable and, provided that the services (or funds) are available, makes sense. In 2014, there were 24,200 people receiving domiciliary care services. The number of elderly people receiving payments in the form of ‘self-directed support’ was just under 800. More difficult questions emerge when independent living is no longer practical or safe. Even the question of practicality gives rise to the tensions of differing opinions sometimes within families and sometimes between family and professional services. There is no easy answer to questions defining family responsibilities. Judgements on the seriousness of early dementia, rehabilitation after hospitalisation and the role (and availability) of temporary alternative residential care do not emerge neatly from formal guidelines. who need care pay towards the costs, if personal finances exceed a stated lower level of savings. Essentially, it is a means tested contribution system. In simplified form, it is capped by a ceiling on personal contributions so that when, for an individual, cumulative care costs exceed £75,000, Government social security will pay the continuing care costs, month by month. In Northern Ireland, the arrangements are close to the English system, with the major difference that the Dilnot cap is not in contemplation. One general principle applies in each area. The social and health

AUGUST 2015

When full-time non-independent care is judged desirable and necessary, then there is a difficult interface between needs for care (social or nursing) and the financial implications for the health and social services overlapping with the financial call on the client and their family. The ambition of the health and social care services to be free at the point of need becomes strained when it is constrained by means testing rules related to personal savings levels. The process of assessing the need for residential or nursing home care can

sometimes be fraught as family representatives and professional advisors differ. Even when that assessment is made, the stressful process of finding the most favourable location (or unit) becomes a challenge to supportive relatives who must agree the decision including an understanding of what financial contribution from (or on behalf of) the client will be needed. The Health and Social Care Board has an approved (maximum) scale of charges which it will meet, subject to any means test deduction expected on behalf of the client. For a residential home, £470 per week is the current allowance: for a nursing care home, £593 per week is allowed. In 2014, the Health and Social Care Board was supporting over 2,700 people in residential places and 6,900 people in nursing care. Even with client contributions, this is likely to be a growing charge of well over £250m pa on the DHSSPS budget. If the client has savings of over £23,250, then the person pays the full cost and, on a sliding scale this decreases down to savings of £14,250, below which no payment is sought. If however, the nursing care home charges more than £593 per week (as many do) that extra difference falls 100% on the client or their family. If, as is possible, the Health and Social Care Board keeps downward pressure on the ‘approved’ tariffs, the independent providers will be likely to increase their charges to maintain their finances and the difference will pass to relatives and dependents. The critical balance in the provision of continuing care is that there should be sufficient willing providers to meet a growing need and an adequate budget allocation. The current danger is that the squeeze on care allowances will affect the availability of the services. Care of the elderly is a difficult social issue. It is also a business issue. Will the private sector invest in a sufficient number of places with revenue streams that make viable business sense?

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PUBLIC PROCUREMENT

Change isn’t the public procurement enemy Public procurement in Northern Ireland has been undergoing something of a make-over this year. William Curry, Partner at Arthur Cox examines the changes which affect both suppliers and contracting authorities.

ver reliance is never good and while political moves are afoot to address the imbalance, we cannot escape the fact that Northern Ireland is still more reliant on public sector spending than any other region of the UK.

into lots, combined with the turnover cap, is to encourage more SME participation. Northern Ireland SMEs win more public sector contracts than in any other part of the UK, which isn’t surprising given our economic make-up but these changes should witness more SME success.

Approximately £3bn is spent annually here by the public sector in the procurement of goods and services, so when change is introduced to the tendering process it’s important all parties are aware. The new Public Contracts Regulations 2015 (replacing the regime in force under the Public Contracts Regulations 2006) came into force in February but the ramifications of their introduction will reverberate for the rest of this year and beyond. Essentially the purpose of the new regulations is to pave the way for a more straightforward approach to the procurement process, making it faster and less costly for public bodies and suppliers.

Suppliers who have performed poorly on a previous contract can be excluded from future competitions which, while a commonplace practice in the private sector, can now be implemented by the contracting authority.

to determine the procedures that will be applied to the procurement of these services. While the scope of the 2015 regulations will be broadly familiar to contracting authorities working with the 2006 regulations, it’s evident that there are a number of learnings to be understood and applied to any procurement processes going forward.

All public bodies, and private companies in their capacity as suppliers, need to be fully informed and aware of these updated regulations which will take some time to bed in. Interpretation and understanding of certain provisions is likely to evolve over time, not least in light of the various guidance notes from the Cabinet office and in due course, case law from the courts.

Splitting tender lots One of the changes that has generated most debate to date is the introduction of the ‘light touch’ regime that will apply to the procurement of certain residual services such as health, education, sporting and cultural services. Contracts valued at over €750,000 for these services must be advertised in the Official Journal of the European Union. However public bodies will now have the freedom

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There are a number of changes which will hold huge importance for suppliers. For one, contracting authorities will no longer be able to ask for a company’s turnover to be more than twice that of the contract value. Contracting authorities will also have the flexibility to limit the amount of lots a supplier can win and must provide reasons for any decision not to subdivide a contract into lots. This encouragement to break contracts

To date, we’ve seen a high level of interest from suppliers, but particularly contracting authorities who are keen to get policy and procedures in place to mitigate against possible future legal action. In the long term the modifications to the legislative position should be advantageous to all parties, it may just take a little time to realise the benefits given the natural uncertainties and unease that follows change.

Public Appointment Belfast Metropolitan College Governing Body Position: Chair of Governing Body (1 Vacancy) Would you like to contribute to the business and educational needs of your local community? Time Commitment: You will be expected to attend 7 to 9 full (evening) Governing Body meetings per year and to represent the college at meetings and public events. You are also likely to have significant involvement in sub committees. Additional meetings will be called as required. Remuneration: The post is not presently remunerated. However, it is anticipated that remuneration will become available shortly after appointment. Travelling and subsistence allowances are payable. Closing Date: 12 noon on Tuesday 1st September 2015. Late applications will not be accepted. Completed application forms may be posted or emailed. Applications are invited from individuals who either are or have been engaged or employed in business, industry or any profession. Further Education is a driver of economic development, assists social cohesion and is a major promoter of lifelong learning. This is a challenging and exciting role giving you the opportunity to play a major part in and contribute to the Northern Ireland Further Education sector. The Chair of the Governing Body has particular responsibility for providing effective strategic leadership and for ensuring that the governing body works effectively. Application forms and an information pack can be obtained from: Marty Fullerton, FE Corporate Governance & Accountability, Room 203, Adelaide House, 39-49 Adelaide Street, Belfast, BT2 8FD. Tel: 028 9025 7461 E-mail: fegovernance@delni.gov.uk Application forms and information packs can be made available in other formats. Candidates who require assistance will be facilitated on request. Women, people with a disability, ethnic minority communities and young people are currently under-represented on governing bodies. DEL particularly welcomes applications from members of these groups. Interviews will take place week commencing 28th September 2015 and an appointment will be made in mid-late October 2015. Equality of Opportunity DEL is committed to the principles of public appointments based on merit. Independent assessment, openness and transparency are integral parts of the process. The Department is committed to providing equality of opportunity for all individuals. Applications are welcome regardless of gender, age, marital status, disability, religion, ethnic origin, political opinion, sexual orientation or whether or not you have dependants.

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FOOD BRANDING

Food artistry – what’s in a name? Secretary of the NI Guild of Agricultural Journalists Michele Filippi reports on a recent International Federation of Agricultural Journalists tour of the North Italian region of Emilia Romagna. She explores how the region’s approach to making and marketing produce may provide insights for our own agri-food sector.

milia Romagna is home to some of the most well-known Italian food products. Names like Prosciutto di Parma (parma ham); Parmigiano di Reggiano (parmesan); and Aceto Balsamico Tradizionale di Modena (balsamic vinegar) are music to many gourmands’ ears. The popularity of these products has led to ‘me-too’ brands impersonating as the real thing. Italian words and emblems are used to create the perception that the copies are Italian. But in reality the origin of these imposter brands can be anywhere but Italy. Not surprisingly then, the food producers we visited along the Via Emilia have been using the legal powers of the EU to protect their product names against misuse. Indeed, Italy gave birth to a seal to protect authentic Italian food in 1963 called the Denominazione di origine controllata (DOC). This certificate of supervised origin was then adopted by the EU to introduce a system of protection regarding food production. Hence Prosciutto di Parma PDO (Protected Designation of Origin) and Parmigiano di Reggiano PGI (Protected Geographical Indication). These are products with protected status and the classification verifies for the consumer their authenticity and origin. This special status may be associated with various characteristics from breeds

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it is clear that the Italian agri-food sector values this scheme. Out of 25 EU countries listed in the European Commission’s database of registered products, Italy is the No.1 ranking country with 310 registered products across a number of categories and their applications grow year on year. The UK is at 7th place, with Northern Ireland having only 3 of 72 that are currently the UK’s registered products: Armagh Apples, Lough Neagh Eels and Comber Earlies. Ireland is at 19th place.

and breeding techniques used to origin of raw materials; from boundaries of the geographical area of production through to duration of aging and know-how used. During a visit to Parmigiano Reggiano producer, Latteria Sociale San Lucio, Director Simone Ficarelli emphasised how important these classifications are to the Parmigiano Reggiano Consortium of cheese makers. “If the packaging has an Italian flag, our advice to the consumer is to be wary and look instead for the PGI emblem.” From the number of registered products and marketing campaigns featuring the geographical indication (GI) protected status,

A study commissioned by the EU in 2012 demonstrates that the EU’s classification scheme results in increased margins for producers: “...in most cases GI products achieve a price premium over the corresponding standard products and as far as producers of final products are concerned, in most cases the gross margin for final GI products was higher than that for standard products.” The study also identified elements of added value other than higher gross margins: “protection of intellectual property rights; improved visibility; access to new markets; better access to promotion funds and investment aid; better support under rural development; positive impacts on the GI area as a whole.” The last set of figures published by the European Commission on sales value show that from 2005 to 2010 there was a 19% increase in sales value of GI agricultural >

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FOOD BRANDING

The Prosciutto di Parma PDO seal is branded onto meat.

products and foodstuffs listed and that the year-on-year rate of increase has been accelerating. A recent article entitled “Craft versus Kraft” by Gary Silverman in the Financial Times explores why some of the world’s best-known food brands are coming under pressure whilst artisan products are thriving. It concludes that “the millennial generation of consumers are shaking up the food industry. They want to know how their food is being made and who is making it.” Ironically, the use of the word ‘brand’ as a marketing term originated from the livestock ‘branding’ iron. At the Rosa D’Angelo Salumificio, part of the 150-strong Prosciutto di Parma consortium that sources pigs born and reared in only 10 regions of central Italy exclusively, we learned how the Ducal Crown emblem is fired into the pork haunch when it passes quality checks to become a Prosciutto di Parma DOP. Likewise, Parmigiano di Reggiano DOP seal is impressed on to the cheese rind during the formation process conferring an authentic branding which is inextricably linked to the product itself.

A NICHE FOR FOOD FROM NORTHERN IRELAND? With the Northern Ireland food & tourism

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The Parmigiano di Reggiano DOP seal is impressed onto the cheese rind.

industry gearing up for 2016 NI Year of Food and the intention to establish a single Northern Ireland agri-food marketing body, it is interesting to consider what our sector can learn from ‘the Italian way’. What role will produce of stringent origin and provenance and the EU’s classification scheme play in our differentiation strategy going forward? The growing body of evidence would seem to strengthen the case for a Northern Ireland positioning based on credible, indigenous produce made from locally sourced raw materials that capitalises on our key agricultural strengths. It would seem to be a very credible niche that Northern Ireland food producers could occupy and one where

they can move beyond price sensitivity. Recent consumer trends and marketing insights auger well for this approach. Investing in our strengths, for example in dairy, beef and lamb, but not forgetting fish, could facilitate the exploitation of export markets willing to pay a premium and, if marketed well, could signal economic success. The influence that social media, in particular Facebook, is now playing in consumer food choices also bodes well for an online Northern Ireland food narrative that satisfies the consumer’s desire for natural, fully traceable food, opening up exciting opportunities for linkages for agritourism here too.

ICT

Peter Brown, EOS Systems (left) and Barry Bingham, Offshore Investment (right) take their time!

Belfast calling – speaking to a global audience

hen your client has to address some of the most influential and informed decision-makers in the financial world, it’s vital that the communications technology you provide for them is robust, scaleable and cost-effective. That is the experience of EOS Systems, who for over a decade have been helping the prestigious, Belfast-based global publication, Offshore Investment, to reach out to its International audiences. “Quality communications is a priority issue for Offshore Investment,” explains Peter Brown, director of EOS Systems. “As a global operator, dealing with time precious, high end clients, they need an IT infrastructure that is reliable and secure. One of the reasons why our relationship with them works so well is that we consistently deliver robust, innovative IT solutions at low unit costs. They’re hungry for progressive ideas, particularly in regard to Cloud solutions, and we have been able to keep them ahead of their competitors in terms of how they communicate.” Barry Bingham, Chief Executive of Offshore Investment, agrees. “Offshore Investment is a global, market-leading publication. We were originally based in Knightsbridge, London, but we relocated to Belfast in 1998. From the outset, the EOS Systems team has helped us make the best use of cutting-edge IT technology that yields business-friendly functionality and massive cost savings.”

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“Recently, EOS Systems has led us through the tricky implementation of a Hybrid Cloud solution. The IT system they designed consists of in-house technology integrated with Cloud computing. This allows us to operate seamlessly between our serviced office suite in Mayfair, London, and our headquarters in Belfast. It’s as if the two offices were only a floor apart.” Most recently, EOS Systems has loaded telephone software directly onto Offshore Investment’s laptops. “This offers our client the possibility of no-cost telephony, with even greater mobility and enhanced savings,” says Peter. “Offshore Investment organises and hosts international conferences in major cities around the world. Our IT solution allows them to communicate across the globe as if they’re operating from their Belfast headquarters. So what makes for the successful chemistry between this financial publisher and IT specialist? “That’s easy,” says Barry. “EOS Systems has great empathy for non-techie people like us. We know what we want to achieve, and they direct us towards the right solution. And they’ve a great knack for making the whole process simple and cost-effective.” To find out how EOS Systems can help you to make the most of your ICT systems and telephony, call Peter Brown today on 028 9045 9222 or email peter@eossystems.co.uk

Larchfield invests further £200k

t could be said Larchfield Estate is a hidden gem. Brimming with character, this stunning venue is owned and run by Gavin and Sarah Mackie since 2007. It hosts over 100 events a year and employs 18 people, including a dedicated events team to help with planning and organisation. Continual investment has made it the go-to place for a truly unique event, offering a memorable day for company barbeques, award ceremonies or Christmas parties. Situated just off the M1, Larchfield Estate is

20 minutes from Belfast or 1hr 15 from Dublin. It boasts incredible facilities - cobbled courtyards, a four acre paddock ideal for team building, walled gardens, stables and a modernised rustic barn comprising of adjoining bar area, danceﬂoor room and spacious orangery entrance. The multi-award winning venue can cater for small away days (it has stunning converted cottages and rooms onsite) through to large corporate events and product launches, hosting up to 364 people in the main barn in conference style. The latest project is a £200,000 Orangery

building which links onto the rustic barn and provides a perfect reception area or breakout space. Companies which have previously used the venue have been very impressed. Around 96% of those respondents to post-event surveys said Larchfield offered good value for money while 100% of respondents said they would recommend the venue. Dankse Bank said: “Larchfield offers something different from the norm - a great setting, easily accessible but with an exclusive feel, with all the facilities needed - a hassle-free and well-priced event.” And EY commented. “It was one of the best Christmas parties we ever had. Your help throughout the organising of the event was priceless. The venue was transformed into a Christmas wonderland and it was so different from the typical Christmas party.”

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A brand team that delivers more... Lynas Foodservice is a third generation family owned business that has been supplying food to customers throughout Ireland for over 50 years.

We found a partner in Brand Etiquette who we trusted and who made the rebrand process straight forward. Ââ&#x20AC;&#x201D; Andrew Lynas

The business has evolved significantly under the leadership

Andrew Lynas, Managing Director of Lynas commented;

of its Managing Director Andrew Lynas and now has an annual

“As a family business with an established identity, embarking

turnover of £100m and employs over 370 staff. Indeed, Lynas

on a rebranding process was a big step and we needed to be

has grown to become the largest family-operated foodservice

convinced that a change in our brand would actually add value

distributor in Ireland and the company’s success has been

to our business. The company that we chose had to fully

based on its ability to constantly anticipate and adapt to market

understand us whilst also being strong enough to challenge us

demand whilst ensuring a consistent focus on its customers.

to push the boundaries. We found a partner in The Pierce Partnership who we trusted and who made the rebrand process

The team at Brand Etiquette were excited about working

straightforward. Their approach from the outset was to work

with a business with such a strong history and creating a new

collaboratively and their strategic methodology, creative vision

brand that would firmly position Lynas as the foodservice leader

and attention to detail made the whole process painless from

in Ireland. From supplying only frozen food in the 1980s, the

concept right through to implementation. I would be happy to

company now distributes over 6,000 grocery, chilled, frozen

recommend both the design and digital teams and look forward

and non-food product lines throughout Ireland. The company

to a long term relationship that supports our business growth.”

markets its own meat brand, Causeway Prime, and has recently opened innovative Food Outlets in Belfast, Coleraine and Derry / Londonderry.

For all that the Lynas business has changed, it still believes passionately in the power of good food and its ability to bring people together. Brand Etiquette and the wider Pierce Partnership have been delighted to support a visionary team at

Brand Etiquette’s challenge with this project was to ensure that the new brand effectively recognised the great Lynas heritage and was sufficiently adaptable to communicate the current and future diversity of the business. Tim McAllister, Creative Director, Brand Etiquette

At the outset of the commission the Brand Etiquette team allocated to the project spent considerable time in the research phase with staff across the business, focused on gaining a deep understanding about what it was that made Lynas unique in its market and laying the groundwork for bringing staff on the journey with us. It was vital that the Lynas values: hard work, service and integrity, which have remained the same as those of the entrepreneur who started the business, were at the core of the rebrand. These values and the diversity of the product offering came together to form the new brand strapline “Delivering you more.” The brand promise is now embedded at the heart of the business and is being brought to life throughout all communications and customer touchpoints in a highly visual and contemporary styling. With product and people front and centre as key competitive differentiators and brand foundation stones, it will be no surprise that the brand was initially launched at an event attended by over 800 staff, family and friends. The project, which involved implementation of the identity across all online and offline channels, is being systematically implemented throughout the Lynas fleet and the Food Outlet premises with Brand Etiquette acting as brand guardian.

Lynas to bring to life a brand that has a passion for excellence in product and service at its core. The Pierce Partnership is a collective of Brand, Digital and Print specialists. Their ethos is all about working together with clients to produce something brilliant that stands apart from the everyday and delivers real results. For more brand case studies visit: www.brand-etiquette.com

INTERVIEW

The business of insurance What makes Abbey Bond Lovis stand out in a crowded market? ABL blends the experience and expertise of qualified insurance professionals, many of whom have spent lengthy periods with multinational competitors, with the ability to react quickly and make decisions rapidly that only a high degree of autonomy can bring. We have a full service operation over our three offices in Armagh, Belfast and Coleraine and we appreciate the scale of Northern Ireland business having a wide range of clients from the smaller end of SME right through to some of the largest local companies. Above all we pride ourselves in the care our team take in looking after our clients – private clients, small business and large companies alike.

Name: Patrick McMillen Position: Sales & Marketing Director, Abbey Bond Lovis How did you get into the insurance industry? I served my time with an insurance company in Dublin for a few years prior to joining a long-established brokerage in Belfast which was partly owned by my father and had been started by my grandfather and a partner in 1920. That company was sold to a global player in the mid 1990s and I stayed on looking after the Northern Ireland office until 2009 when I felt that I needed a fresh challenge. I have very happily spent the last few years heading up the UK Sales & Marketing operation of a publicly quoted London-based Lloyd’s insurer until the opportunity to join Maurice Boyd and the team at Abbey Bond Lovis (ABL) arose. I started with ABL at the beginning of July. How has the world of insurance changed over the years? From an insurance broking perspective, our aim

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must be to become the client’s “trusted adviser”– that has changed very little over the years and I don’t think it should. What is changing is the way the business operates. One aspect of this is the use of technology. This is well developed in personal insurance and is also becoming commonplace in the SME sector – there has to be much more to come on this, in many ways the insurance industry is still well behind the game. Significant legal changes relating to the fundamental basis of insurance contracts are being made by virtue of the Insurance Act 2015 – bearing in mind that the existing legal framework is based on the Marine Insurance Act of 1906 you might say not before time! These changes will help clarify the position of both the insurer and their client and should help to improve the image of the insurance industry. Purchasing insurance is never at the top of the list of things that our clients like doing but when it is needed they are very happy to be dealing with people and companies they trust.

What does the future hold for the company? We are entering an exciting period of growth but fully accept that our standards of service must be maintained and indeed built upon – continual improvement and development has got to be the aim. I am confident that with the strength and ethos of the ABL team this can be achieved – change is becoming the norm in so many aspects of business that we must not be afraid of this. What do you enjoy about your job? Interaction with people – both clients and colleagues. From the client perspective really getting under their skin, understanding their businesses and the issues they are facing is tremendously rewarding and fascinating to me. Learning from colleagues never stops and helping less experienced team members develop is highly enjoyable. We all have to earn our crust but I am a great believer in that work should be fun – as far as that is possible!

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GLASGOW

City of surprises

The Clyde Arc.

lasgow? For a short break? Really? That was my first reaction at the idea of heading to Scotland’s second city for two nights at the suggestion of the good people of the catchily-titled Glasgow City Marketing Bureau.

City Airport on a very amenable 10.40am flight on a Thursday morning with FlyBe.

no time in heading into the city centre and chowing down on a bite of lunch. We dined like kings at The Anchor Line, a Scottish restaurant with a prohibition-era interior theme on St Vincent Place which used to be the booking office for Anchor Line cruise ships.

“You don’t understand,” they said. “It’s changed.”

Being used to the Belfast-London shuttle, both of us were slightly taken aback by the fact the captain announced the old “10 minutes to landing” line at what seemed like shortly after we’d taken off so either we’d fallen asleep or the flight really is only 45 minutes (it’s probably the latter).

They would say that, wouldn’t they, but, being of a curious nature, myself and the other half, also a scribe, headed off on a voyage of discovery from George Best Belfast

Once through immigration – an old joke which needs to be said when you take an English wife to Scotland but which shouldn’t be taken seriously – we wasted

Merchant Square.

It’s walls are adorned with posters advertising sailings to New York from Glasgow via Londonderry, all from another era when the draw of the west offered a way out for many. Now it’s no surprise that the draw of Glasgow is bringing tourists flooding into the city, and to the countryside beyond. We enjoyed lunch in the usual manner, the other half keeping her sensible head on with soup and a salad while I got carried away and opted for three courses which made sure I didn’t go hungry for the rest of the weekend. It was quality, refined fare and is a restaurant with a great atmosphere and attentive service, but we couldn’t dilly dally as we were heading to the Mackintosh at the Glasgow School of Art. Sometimes my cultural nouse lets me down and I wasn’t completely sure we weren’t >

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GLASGOW

The Macintosh Building at Glasgow School of Art.

going to an exhibition of raincoats, but a bit of a design lecture by the weekend’s designated map reader filled me in on one of Glasgow’s favourite sons. Charles Rennie Mackintosh was an artist, design and architect and designed some of Glasgow’s greatest buildings, borrowing modernist ideas and Asian styles, most famously to build the original Glasgow School of Art. Sadly the building was hit by a major fire in May 2014 and is under restoration but we were taken on a tour of the exterior which showed some of the clever practical sides of classic Mackintosh as well as the aesthetic touches which make his designs stand out. We also visited the new School of Art where a number of Mackintosh’s furniture designs >

The Glasgow bus tour

he hop on hop off bus tour starts in the East End of the city in George Square, regarded as the de facto centre of the city and home to the ornate Glasgow City Chambers building. Guided tours aren’t necessarily on my ‘to do’ list when visiting a new town but this guided tour with 28 stops was a great way of getting better acquainted with the city without having to master the knowledge. Weaving its way from the east side to the west side it’s clear to see why Glasgow was once named by National Geographic Traveller

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The SSE Hydro: Photo by Neale Smith

magazine as the UK’s Coolest City and why the city was picked to hold the Commonwealth Games in 2014, it has something for everyone and has that buzz that many other destinations lack. For the thirsty the tour stops at the Tennent’s breweries, for culture vultures there’s the People’s Palace and the iconic SECC’s Clyde Auditorium, known affectionately as the Armadillo. Undoubtedly the highlight of the tour was the trip to the West End which showcased the city’s Hogwartsesque University of Glasgow and its array of trendy boutiques, restaurants and bars that would give London a run for its money. Driving down the Byres Road, you’d be forgiven for thinking you were in Clapham, minus the gridlock.

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GLASGOW

travelling companion is not an overstatement, and believe me, she knows. You’ll forgive my briefness on this part of the day but there was a brewery tour to take part in at the WEST brewery in the east of the city. The German-owned brewery produces beer in accordance with German purity law and offers an interesting take on the normal fare. We toured the brewery with the knowledgeable Marcel, gaining an in-depth knowledge of the brewing process, before tasting the produce alongside a wiener schnitzel, something I really wasn’t expecting to eat in Glasgow. A house for an art lover.

were on display and were able to see some truly stunning original pieces which offer a new appreciation of good design. From there we checked into the Grasshoppers Hotel which is brilliantly situated in the city centre next to Glasgow Central train station. It styles itself as a “value-for-money luxury hotel”, a statement which may sound at odds with itself but which sums up exactly what the Grasshoppers offers. The room was bright and luxurious with a hint of Scandinavian design and little touches throughout – cookies and cupcakes in the foyer, freshly home-made ice cream in the hallway for the midnight munchies – which set it apart from run-ofthe-mill hotels at the same price point. Dinner was a hop, skip and a jump to the Aston Bar and Beer restaurant located underground in the station building where we gorged on some of the best Angus steaks this side of Aberdeen and were treated to a gin masterclass by Jim the gin guru. The next morning we were rejuvenated and ready for the sights, ones which the other half helpfully wrote up for me. After such exertion, it was time for lunch, this time at the sublime Ox and Finch in the

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west end. It’s run by former head chef of the McLaren Formula One team and has recently been awarded a Michelin Bib Gourmand, and for good reason. We dined on squid, prawns, chorizo and morcilla with smoked paprika on sourdough; roast rump of lamb, fattoush salad and baba ganoush; beetroot, green beans, toasted seeds and barrel-aged feta, amongst others. All hit the spot, and then some, relaying intense Mediterranean flavours by the bucket load and providing a meal to remember for us. A brief afternoon nap and it was off to play a supporting role in a great shopping extravaganza which I’m assured by my expert Shoppers on Buchanan Street.

That brought a fantastic couple of days to an end, ones which we’ll both remember for completely changing our preconceptions of Glasgow. Rather than the city which I would have passed through on the way to Edinburgh or other parts of Scotland, Glasgow is now a premier destination in itself and is arguably pushing Scotland’s capital into second place. It’s amazingly quick to get to from Northern Ireland, it’s a cosmopolitan capital, it’s relatively cheap compared to other major cities and really does have a warm welcome for visitors. So the next time you fancy a city break, don’t mess around, visit Glasgow. FlyBe flies from Belfast City to Glasgow International four times a day from £27.99 one way.

Coral Environmental cleans up with WorkPal Michael Gray and Susan McBrien of indoor environmental consultancy Coral Environmental explain how WorkPal, Barclay Communications’ mobile workflow management solution, has transformed their business and enhanced the service they offer to their clients. Coral Environmental Working across all sectors throughout the UK and Ireland, Coral Environmental has over 20 years’ experience in providing a number of services from complete Legionella Management and Water Treatment to Asbestos surveying and Air Quality assessments. Barclay Communications and WorkPal Barclay Communications has over 18 years’ experience in business communications and is recognised as a local expert in mobile, landline, IT, web design and more recently software development with WorkPal, their flagship solution for mobile workflow management, reporting, tracking and invoicing. Coral Environmental’s Job Management Challenges Michael explains: “We were drowning in paperwork and a huge amount of time was being spent on administration, so much so that we needed to recruit another administrator. Our paper-based system and job management process was not as professional or efficient as it could have been. Our field workers travel the length and breadth of the UK and Ireland and effectively, they could travel for up to two weeks before having the opportunity to come into the Belfast office to hand over paperwork, specifically job sheets. As a result, jobs were not being processed quickly enough, which meant that invoices were not being sent out promptly. The reporting that we were able to provide to clients was also limited. Job ownership, accountability and traceability were also additional issues of concern.” Barclay Communications approached Coral Environmental offering a more effective job management system that would be easy to manage, save time, increase efficiency and professionalism and eliminate the chance of error. The WorkPal Solution Barclay Communications supplied Coral Environmental with WorkPal, their end-to-end

(L-R): Susan McBrien and Michael Gray of Coral Environmental with Karl Rainey, WorkPal Development Manager.

“WorkPal has made us more professional and efficient; it is the single best investment that we have made as a company to date.” job management system, which they also opted to integrate into their accountancy package, QuickBooks. WorkPal now enables Coral Environmental to send job details to a field worker’s mobile app, which they use onsite to complete documentation, take pictures, capture clients’ signatures and more. Once a job is completed, all the information is synced back to the office, invoices can be generated, job histories are created and recurring work is automatically scheduled. Benefits of moving to WorkPal Susan comments: “We were excited about what WorkPal could do for us, but thought it would be laborious and difficult to implement, with endless hours of data entry. On the contrary, moving to WorkPal was a smooth process, practically seamless. We have now gone almost completely paperless, which has freed up a great deal

For more info on WorkPal, visit: www.yourworkpal.com or call 028 9096 0366

of administration time. WorkPal has sped up our workflow management process, enabling us to process jobs faster, thus allowing for quicker invoicing. Our field workers are now spending more time on the road and less time in the office looking after paperwork. With real-time readings of where our field workers are, we are also able to plan our jobs more effectively. The flexibility with WorkPal is great as we are able to tailor the system to meet our specific requirements. Our staff love how WorkPal saves them time and is so easy to use. Our customers love it too, as now we can present all their information in one tidy document and they don’t have to go searching for information. What our customers receive now is night and day compared to what they got before WorkPal. ” Impact and RoI of WorkPal Michael explains: “WorkPal has made us more professional and efficient; it is the single best investment that we have made as a company to date. In the first year alone we have saved £15k-£20k from not needing to recruit an additional member of staff. It is also starting to generate extra revenue for us now, as with job sheet recommendations we are now able to quote much more. I cannot recommend WorkPal enough.

REVIEW

Business

Breakfast

By David Elliott

Greg McDaid, Director NI at Fujitsu UK and Ireland Diner: Greg McDaid Company: Director NI at Fujitsu UK and Ireland Not for the first time in this series of dining adventures, the appointed venue for a morning of high level scoffing was firmly closed at the allotted 8.30am meet on Belfast’s Belmont Road. No matter, Bank Café Bar’s loss was Oliver’s Coffee Bar’s gain (try saying that with a mouthful of porridge) and we quickly hot footed it up the street. Not that Greg McDaid needed any more exercise, having already cycled in from Comber as the second part of a cunning daily commute designed to avoid the worst of the traffic to his Holywood Road office. Your scribe and the Fujitsui boss were soon settled into the pleasant surroundings of this relatively new addition to the East Belfast coffee scene, one of exposed walls and reclaimed wooden floors, and had little trouble in ordering from the short (a huge attribute in my book) but interesting menu. Greg kept it simple with the eggs and soda bread while I went even more old school with the porridge, but despite our conservative options, we were both impressed by the quality of our breakfasts. Regular readers of this column will know that the last few Business Breakfast subjects have arrived prebreakfasted so I was cock-a-hoop at the simple fact we were both eating. And, so impressed was I that I returned

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on Sunday morning with Mrs Scribe and had the bacon and avocado on sourdough toast, a mix I wouldn’t have normally had to start the day but one which I’ll be having again.

launched a High Performance Computing (Supercomputing) Service for Northern Ireland small and medium sized businesses and researchers.

But back to the Fujitsui boss, one who has ended up at the top of one of Northern Ireland’s biggest employers via a Mechancial Engineering degree at Queens University and an MBA carried out part time during one of his first jobs at another stalwart of the Northern Ireland business world, Shorts.

It’s essentially a pay-as–you-go service offering complex computing power at a fraction of the cost – which will allow businesses to fast-track research, run heavy data analysis, run simulations, produce high-end graphic rendering much cheaper and more quickly.

From there it was on to Coopers & Lybrand for a brief spell before being tempted to work for ICL – previously the catchily-titled International Computers and Tabulators - at its Bristol base in 1996, the IT company which would eventually be bought out by Fujitsui. Greg helped turnaround the Oracle business at the firm, bringing it back into profit after the only 18 months. After the takeover he joined the northern European team for Fujitsui before giving his suitcase a rest and taking over the Northern Ireland arm of the global business in 2005. He’s grown headcount at the base from 380 when he started to around 820 currently at its bases around the country which carry out services for the business across the world. It runs the IT services for the bulk of the public sector in Northern Ireland, runs the post office IT system across the UK, the wireless network on the London Underground as well as offering recruitment, project administration and PA services for some of its executives from its Londonderry base. In addition, Fujitsu has recently

It is part of Fujitu’s central vision for a “human centric intelligent society”, one which focuses on using IT to “do good” in all areas of life. That’s quite a challenge for such a global company but one which Greg clearly relishes. “The challenge for us over the next three of four years is to make Fujitsu even more innovative but we’ll grab that opportunity with both hands,” he said. With that we’re off, Greg back to his Holywood Road office and your scribe back to his not-so-super-computer.

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established. 1952

PROFILE

Name: George Rankin Position: Senior Director for Northern Ireland, Asda

A word from

The Wise How did you start out in business? I started out in a local department store in the chilled section back in 1996. It was a great start in retail and was where I met my wife Jenny. It has been an advantage to experience all levels of a retail organisation, as I’ve come from the shop floor myself and I believe that has positively influenced my managerial style. What did you find the most challenging during your years in business? I would have to say the transition our stores in Northern Ireland have gone through – from Wellworths to Safeway to Morrison’s – and finally becoming part of the Walmart family as ASDA in 2005. I have no doubt that those transitions have helped to make us a stronger business today and the experience our teams have of different corporate styles and strategies has been invaluable to us in growing the business in Northern Ireland. How would you describe your management style? I would say “collaborative.” I trust my store management teams to make the right decisions for our colleagues and customers in Northern Ireland and I work with them as part of a team. They always know I am there to support them in their roles when required. This gives me time to work on bigger, more strategic pieces of work that move our business forward as a whole. What would you change if you could go back and do it all again? If I was doing it all again I would take more time to enjoy each stage of my career.

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The column with an ear for experience...

As you are going through the stages you can definitely forget to appreciate the different aspects of each role. Have you done it all on your own? Definitely not! My most senior position before my role in Northern Ireland meant I had to commute to Essex for five months and I really wouldn’t have been able to do that without the support of my family, Edee and George my two kids who gave Daddy extra hugs every time he came home but especially not without Jenny who was amazing! How would you like your business career to be remembered? As someone who invested time in developing local talent for a national business. The opportunities are immense for our colleagues in Asda, with several colleagues progressing from working in store to senior positions working with Walmart in the US – and contributing to the future of a large corporation. I want to help highlight and develop the talent we undoubtedly have in our 17 stores here and encourage our colleagues to seize the opportunity that Asda presents them with. What piece of advice would you give a 20-year old you? Slow down and enjoy the journey.

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For more information on Carecall please contact Gemma Ireland on: Direct Dial: 028 9024 5821 Email: g.ireland@carecallwellbeing.com www.carecallwellbeing.com

Feedback from employees who have engaged with the Carecall EAP: • 91% said they feel more able to handle their difficulties • 74% reported improved work performance • 90% reported feeling an improvement in their overall emotional health

Flags, firebombs & flashbacks

Executive Motoring

By Pat Burns

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EXECUTIVE MOTORING

The 2015 Summer Budget was the first 100% Conservative Budget in over a decade, here are some of the highlights relating to transport

Most potent DB9 yet

£££££ • The Chancellor has addressed falling revenues from Vehicle Excise Duty by reforming VED for cars registered after April 2017. First year rates (FYRs) will vary according to the CO2 emissions of the vehicle, but a flat standard rate of £140 for all cars except those with zero grams of CO2 per km which will have a £0 standard rate.

• Cars with a list price above £40,000 will also have a supplement of £310 per year for the first 5 years in which the standard rate is paid • The Government will create a new Roads Fund, which from 2020-21 will be subsidised directly by the VED revenues above, to help deliver on the election manifesto pledge to invest £15 billion into the national road network over this Parliament (2015-2020) • As announced at the previous pre-election Budget, from 2019-20 the appropriate percentage of the vehicle’s list price (subject to tax) will increase by 3 percentage points for cars with CO2 emissions above 75g/km, up to a maximum of 37%. There will be a 3 percentage point differential between the 0-50 and 51-75g/km CO2 bands, and between the 51-75 and 76-94g/km bands. • Fuel duty will remain frozen for the remainder of 2015. • The Government will actively monitor the growth and development of salary sacrifice schemes and their effect on tax receipts, and will look to consult on proposals to amend the legislation around these if the Treasury believes that these have an excessive cost to the taxpayer. • The Government will consult on a proposal to extend the period before a car needs to get its first MOT test from 3 years to 4, the same timescale which we currently enjoy in Northern Ireland. If you would like more information on managing company vehicles, call Neil McGregor on 02890 849777 or neilmcgregor@fleetfinancial.co.uk. Think Fleet Financial.

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esigned to offer the best of what DB9 can be, the new GT delivers world-class grand touring and hand-built excellence.

It claims the title of the most potent DB9 yet devised, by virtue of its uprated 6.0-litre V12 engine which now boasts 547 PS. Since their debut in the early 1950s, the ‘DB’ models offered by Aston Martin have been synonymous with sophisticated grand touring and thrilling sports car performance. The all-alloy, quad overhead cam, 48-valve 5,935 cc front midmounted V12 is mated to the proven rear mid-mounted Touchtronic II six-speed transmission with electronic shift-by-wire control system. It carries the British luxury sports car maker’s core GT offering from rest to 62 mph in 4.5 seconds, and on to a top speed of 183 mph. The independent double wishbone suspension all round continues to deliver secure handling while the three-stage Adaptive Damping System (ADS) offers distinct Normal, Sport and Track modes for the broadest possible breadth of dynamic characteristics. However power is only part of the story, as the new Aston Martin also includes important and far-reaching equipment changes which underline its position as the best DB9 to date. Most notable among the interior equipment updates is the arrival of the AMi II touch-sensitive Aston Martin infotainment system. While AMi debuted on the range-topping Vanquish at its launch, AMi II offers a revised menu structure which makes using the system even more user-friendly. Building on the system launched in the Vanquish, the DB9 GT’s AMi II infotainment package sees key improvements made in a number of areas including text message integration, vehicle status information and extended background themes for greater personalisation.

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EXECUTIVE MOTORING

Everyday exotica

he all new 367PS Audi RS 3 Sportback is the most powerful compact hatchback currently in production and is even more adept at catering for sports car devotees who also need to take care of everyday necessities like the school run and the supermarket sweep. Capable of snapping at the heels of exotica with its 4.3-second 0-62mph sprint time and potential top speed of up to 174mph, the new five-door, five-seat Sportback weighs in at £39,950 OTR. The new entry point to the formidable Audi RS range is born of impeccable breeding – it is based on the current World Car of the Year and features the latest evolution of the evocative 2.5-litre five-cylinder TFSI – winner of the International Engine of the Year Award in the 2.0 to 2.5-litre category on no less than five consecutive occasions since 2010. Equally reassuringly, it shores up the extraordinary performance and handling produced by bringing these two elements together with the latest generation of quattro all-wheel-drive. The 367PS output from the 2.5-litre TFSI is complemented by peak torque of 465 Nm (343.0 lb-ft), which is available right from 1,625rpm through to 5,550rpm, ensuring that huge reserves of performance are always at the driver’s disposal.

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With a power-to-weight ratio of 241PS per ton achieved by trimming an additional 55kg compared with the previous RS 3 Sportback, the latest car needs just 4.3 seconds to hit 62mph from rest, and with a suitable stretch of Autobahn to hand could hit 174mph. Compliance with stringent EU6 emissions legislation confirms that the latest edition of the classic five-cylinder unit is as frugal as it is feisty. With the help of a recuperation system, a demand-controlled oil pump and a new generation start-stop facility which increases the duration of engine ‘downtime’ at each stop, the latest RS model is capable of returning up to 34.8mpg, corresponding to CO2 emissions of 189g/km. Butterfly valves in the exhaust system control the exhaust flow and deliver a suitably full-bodied and characterful note that varies with engine load and speed. For the first time in an Audi model at this level, a sports exhaust upgrade which deepens the tone even further is also available as an option. The driver can control the volume and depth of the output in both set-ups via the standard Audi drive select adaptive dynamics system. A seven-speed S tronic twin-clutch transmission reworked to offer even faster shifts directs the power to the quattro permanent all-wheel drive system.

The state-of-the-art all-wheel-drive system adds a further measure of control and composure to the inherently agile RS-specific chassis with its wider track front and rear, uprated MacPherson strut front suspension with purposebuilt lightweight aluminium pivot bearings and four-link rear set-up. The new electromechanical progressive steering system which is capable of varying its ratio as a function of steering input also helps to emphasise the quick-witted feel. From the driver-focused section of the options list the Audi magnetic ride adaptive damper system can be added to level out ride and handling to an even greater degree, and the steadfast RSspecific disc brakes with their efficiencyboosting wave contour discs, eight-piston calipers and bespoke lightweight friction rings upfront can be further upgraded with carbon fibre-ceramic front brake discs – a first for a car at this level. In the equally focused interior the standard sports seats are upholstered in Fine Nappa leather with contrasting stitching in rock grey, and the driver’s is perfectly positioned in relation to the flat-bottomed RS multifunction sports steering wheel with its leather and Alcantara trim.

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EXECUTIVE MOTORING

New mid-engined Ferrari 488 GTB

he Ferrari 488 GTB sets a new benchmark for the sports car sector. Forty years on from the launch of Ferrari’s iconic first-ever mid-rear-engined V8 berlinetta, the 308 GTB, the Ferrari 488 GTB opens a new chapter in the history of cars with this particular architecture. Extreme power was a requisite for the car and is delivered by the new 3902 cc turbo engine coupled to a seven-gear F1 dualclutch gearbox featuring Variable Boost Management which optimally distributes torque (a maximum 760 Nm in seventh gear). The 488 GTB guarantees exuberant performance that is absolutely exploitable to the fullest regardless of driving conditions and is accompanied by a deep, seductive soundtrack, the signature of all Ferrari engines.

AUGUST 2015

The Ferrari 488 GTB’s dynamic vehicle controls have also been further evolved. It sports a new version of the Side Slip Control System (SSC2) which, aside from just integrating with the car’s F1-Trac and E-Diff, now also controls the active

dampers. This renders the Ferrari 488 GTB’s dynamic behaviour during complex manoeuvres even flatter and more stable, so that less expert drivers can enjoy its potential to the fullest, resulting in an extremely thrilling driving experience.

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EXECUTIVE MOTORING

Emission and economy improvements for the Focus

he latest revisions to the Ford Focus delivers the car’s most fuel-efficient powertrain line-up ever with improvements of up to 15 per cent, and a significant CO2 emission reduction across the entire line-up. The new Focus is the first vehicle to offer Ford’s new 1.5-litre EcoBoost petrol engine and is also available for the first time with Ford’s 1.5-litre TDCi diesel engine. Ford engineers have further optimised power, torque and fuel efficiency from the 2.0-litre TDCi engine; and Focus will continue to be offered with the award-winning 1.0-litre EcoBoost petrol engine – including a 99 g/km CO2 1.0-litre EcoBoost model. Advanced new diesel engine technologies are available on both the 1.5-litre and 2.0-litre TDCi engines and include a lean NOX trap for cleaner exhaust emissions, while friction is reduced with microscopic applications of Diamond Like Coating (DLC); engine breathing enhanced with Variable Nozzle Turbocharger. Further Ford fuel-saving technologies including Auto-Start-Stop, Active Grille Shutter, and Smart Regenerative Charging help achieve significant reductions in CO2 emissions across the full range of petrol and diesel engines. Ford’s new 1.5-litre EcoBoost petrol engine achieves a seven per cent improvement in fuel efficiency when paired with the six-speed manual gearbox and equipped with Auto-Start-Stop, compared with the power-equivalent 1.6-litre EcoBoost engine it replaces. From early next year it also will be offered with a sixspeed automatic transmission.

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The new Focus will continue to be offered with Ford’s 1.0-litre EcoBoost petrol engine, which last year was chosen by a third of Focus customers and this year was named International Engine of the Year for an unprecedented third year in a row. From early next year the 125PS Focus 1.0-litre EcoBoost will also be offered with a six-speed automatic gearbox. The latest Focus also will continue to be offered as a 1.0-litre EcoBoost version delivering 99 g/km CO2, the previous version of which became the first non-hybrid petrol family car in Europe to offer sub-100 g/ km CO2 emissions earlier this year. New gear ratios help to deliver the low emissions, alongside existing fuel-efficient technologies including Auto-Start-Stop, Active Grille Shutter, and Ford EcoMode that provides drivers with feedback on their driving style to help them become a more fuel-efficient driver.

In addition, Ford’s Smart Regenerative Charging system selectively engages the alternator and charges the battery when the vehicle is coasting and braking to recapture energy that would otherwise be lost – reducing engine load for less fuel usage. Paddle-shift controls will be available as an option with all automatic and PowerShift transmissions, both diesel and petrol – and enable drivers to control gear changes while keeping their hands on the steering wheel. The new Focus will also be offered for the first time with the Ford’s 1.5-litre TDCi diesel engine. Available with 95PS or 120PS, it delivers greater power, torque and responsiveness, with optimised combustion chamber design, and cutting-edge turbocharger and fuel injection technology. It will feature the most fuel-efficient combustion process from a Ford diesel engine to date and it has a lean NOX trap in the exhaust after-treatment system for even cleaner emissions.

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EXECUTIVE MOTORING

Land of hope and glory

oyota’s mighty Land Cruiser now features a new 2.8 D-4D engine, ensuring the go-anywhere SUV remains one of the finest allround propositions on the market. Not only does the Land Cruiser offer fabulous towing and go anywhere capability, it is also surprisingly quiet and comfortable at motorway speeds and is capable of great fuel economy. The three and five-door Land Cruisers both adopt the new 2.8-litre D-4D unit, which replaces the current 3.0-litre engine. The focus is on improved driveability with better torque delivery, plus lower fuel consumption and reduced CO2 emissions. The 2,755cc, 16-valve DOHC engine produces a maximum 174bhp. Matched with the current six-speed manual transmission, it develops peak torque of 420Nm between 1,400 and 2,400rpm. A new six-speed automatic transmission (replacing the previous five-speed) allows even more pulling power to be delivered, with an extra 30Nm on tap between 1.600 and 2.400rpm. The new automatic benefits from control systems that help Land Cruiser achieve around

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a nine per cent improvement in fuel economy and CO2 emissions. Provisional figures show combined cycle performance at 39.2mpg and 194g/km for the five-door model. The introduction of a new powertrain is accompanied by attractive new standard equipment features. The entry-level Active grade models now come equipped with DAB digital radio for better quality radio reception. The options list has been extended to include Toyota Touch 2 with Go, which adds intuitive and comprehensive navigation functions to the vehicle’s high-resolution, touchscreencontrolled multimedia system (£750). Customers can also specify leather seats for the vehicle. On three-door models this also includes heated front seats and leather door trims (£1,395); on the fivedoor Active the package includes power adjustment for the front seats and triplezone automatic air conditioning (£2,795). The Icon model also adopts DAB and the more sophisticated Toyota Touch 2 with Go Plus, adding voice command recognition, 3D city mapping and a textto-speech function. At the top of the

range, Land Cruiser Invincible gains the same new features, plus all the elements included in the new optional Safety Pack. Land Cruiser’s new Safety Pack option (for Active and Icon models,) equips the SUV with a wealth of features to help avoid accidents and support safer driving on and off road. They include Adaptive Cruise Control and Pre-Crash Safety system; Lane Change Assist; Rear Cross Traffic Alert; Blind Spot Monitor; and a Multi-Terrain Monitor, which gives a 360-degree view of the vehicle’s immediate surroundings. A Protection Pack (£595) is offered for all five-door models, adding side mouldings, a rear bumper protection plate and a boot liner. The introduction of the new engine also heralds an increase in the Land Cruiser model range with the re-introduction of the Active grade five-door/seven-seat version, available, with either manual or automatic transmission. The three-door/five-seat Land Cruiser Active remains in place, exclusive with manual shift. All models are covered by Toyota’s fiveyear/100,000-mile new vehicle warranty. Prices for three door models start at £35,895 and £37,695 for five door.

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AWARDS

Irish News Workplace & Employment Awards categories went to educational establishments – South West College, St Cecilia’s College and St Colm’s High School in Draperstown. They were among 20 main category and eight highly commended winners on a recordbreaking night for the Irish News initiative. “It’s been another tremendous year not only for the numbers entering and attending the dinner, but for the range of sectors represented, and we’re delighted that this year’s Workplace & Employment Awards have been yet another runaway success,” Irish News editor Noel Doran said.

Anthony Lynn of Allstate Northern Ireland pictured at the Irish News WEA collecting the Career Inspiration Award for Large Business with sponsor Deirdre Heenan of Ulster University and comedian Patrick Kielty.

n indigenous financial technology firm and the regional division of a global insurance giant, each employing staff numbers in the thousands, and a modestly-sized architectural practice were among the big winners at last month’s Irish News Workplace & Employment Awards in Titanic Belfast. First Derivatives, Allstate NI and White Ink Architects each claimed two category victories at the lavish bash attended by more than 550 people, including Dr Stephen Farry, Minister at the Department for Learning and Employment, a long-time supporter of the initiative. Newry-based First Derivatives, whose client list included a who’s who of leading investment banks and hedge funds, was named Best Place to Work and also shared the top award for Managing Talent. Allstate, which has picked up a number of accolades during the nine years of the

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Workplace & Employment Awards, won the Career Inspiration Award and also added the Global Team Award, a new category introduced this year to reflect the sterling work companies in Northern Ireland are doing overseas. And White Ink, formed in 2001 by its three current directors and which has grown to become a practice employing 20 staff and with a turnover of around £1m, secured both the Innovative Employer and Best Place to Work Awards. The prize list featured a number of new names to the Workplace & Employment Awards, including Action Cancer NI and the Northern Ireland Chamber of Commerce & Industry. Other victors included Autoline Insurance Group, Devenish Nutrition, Enterprise NI, CDEnviro, Henderson Group, Eircom, Little Wing Pizzeria, Total Mobile and Homecare Independent Living, while three of the

DEL Minister Dr Farry said: “The aims of the Irish News Workplace & Employment Awards go hand in hand with the direction set out in my Department’s Skills Strategy for Northern Ireland, and I’m delighted to be continuing our long association with this initiative.” The awards were supported by Tughans Solicitors, the Department for Employment & Learning, Power NI, Liberty IT, H3 Health Insurance, Ulster University and Titanic Belfast. The ceremony was compered by BBC presenter Karen Patterson, with input from Dundrum-born comedian Patrick Kielty, who later regaled the audience with an irreverent stand-up routine. The after-dinner speaker was Fintan Drury, chief executive of sports management business Platinum One, who has worked with a raft of internationally-known stars in the world of golf, rugby and football.

A full gallery of photographs can be found on www.irishnews.com/WEA

List of Winners 2015 Small Organisation – Business Sector Career Inspiration Award Winner: Young Enterprise NI Medium Organisation – Business Sector Career Inspiration Award Winner: Autoline Insurance Group Highly Commended: PKF-FPM Accountants Ltd Large Organisation – Business Sector Career Inspiration Award Winner: Allstate Northern Ireland Education Sector – Career Inspiration Award Winner: St Cecilia’s College Highly Commended: Belfast Metropolitan College with Deloitte Green Award Winner: St Colm’s High School Highly Commended: Little Wing Pizzeria Bronagh Luke collects the Right Place to Work-Large Business Award on behalf of Henderson Group, with sponsor Mark Regan, H3 Health Insurance.

Small Organisation – Innovative Employer Award Winner: White Ink Architects Ltd Medium/Large Organisation – Innovative Employer Award Winner: Devenish Nutrition Small Organisation – Right Place to Work Winner: Eircom Business Solutions NI Highly Commended: Formula Karting Medium Organisation – Right Place to Work Winner: Little Wing Pizzeria Large Organisation – Right Place to Work Winner: Henderson Group Small Organisation – Managing Talent Winner: CD Enviro Highly Commended: Northern Ireland Chamber of Commerce & Industry Medium Organisation – Managing Talent Winner: Total Mobile Highly Commended: St Mary’s College

Liz O’Hanlon and Catherine Harrison collect the Best Place to Work-Large Business Award on behalf of First Derivatives PLC with sponsor Anna Beggan of Tughans and comedian Patrick Kielty.

Large Organisation – Managing Talent Winners: Lagan Construction Group Ltd & First Derivatives PLC Highly Commended: O’Neills Sportswear Public Sector – Work-life, Health & Wellbeing Winner: South West College Private Sector – Work-life, Health & Wellbeing Winner: GE Energy Workplace Excellence Award Winner: Homecare Independent Living Small Organisation – Best Place to Work Winner: White Ink Architects Ltd Medium Organisation – Best Place to Work Winner: Action Cancer Highly Commended: PKF-FPM Accountants Ltd Highly Commended: GE Energy Highly Commended: Ashton Community Trust Large Organisation – Best Place to Work Winner: First Derivatives PLC Highly Commended: Irwin’s Bakery

Mairead Mackle of Homecare Independent Living collecting the Workplace Excellence Award with sponsor Dr William Hamilton of Liberty IT.

AUGUST 2015

Global Team Award Winner: Allstate Northern Ireland

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APPOINTMENTS

Adrian Doyle has been appointed Operations Director of the Odyssey Trust. Adrian will control the day-to-day operational management of the Odyssey Trust’s activities. Nigel Robbins has been appointed Commercial Director of the Odyssey Trust, taking responsibility for business development across the portfolio. Most recently he spent three years at UTV Media plc as Group Commercial Director. Clare Galloway has joined RSM McClure Watters as Business Development and Compliance Manager. Clare has 15 years of experience working with a variety of organisations including KPMG and Deloitte.

Sharon Young has joined Barclay Communications as Public Sector Account Manager. Sharon will manage relationships within the public sector throughout Northern Ireland. Allan Tomlinson has joined Barclay Communications as Senior IT Systems Engineer. Allan will be providing IT Service Support to Barclays’ customers throughout the UK. Lilly McKibbin has been appointed Communications Executive with the Institution of Civil Engineers. Lilly will be responsible for raising the profile of civil engineering in Northern Ireland by delivering strategic communications campaigns.

David Beck has been appointed managing director of Cyril Johnston Ltd. David has previously spent 15 years in the telecoms and media industries, with various marketing and consultancy roles. Laura West has been appointed senior events manager at Hastings Culloden Estate & Spa. In her role, she will be responsible for managing the Culloden’s events and helping the hotel grow its conference and banqueting business. Niall Burns has been appointed Bar Manager at Hastings Slieve Donard Resort & Spa making him responsible for managing the hotel’s bar facilities. Niall is a previous winner of the LCN Trainee Manager of the Year.

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APPOINTMENTS

Victoria Parks has been appointed Banquet Manager at the Hastings Culloden Estate & Spa after joining from sister establishment the Stormont Hotel. Victoria holds a Level 3 NVQ Diploma in Hospitality Supervision and Leadership. Robert Jordan has been appointed Land Liaison Manager for Gaelectric Developments Ltd having previously been a property developer in the private and commercial sector. The County Antrim man holds an OND in Business and Finance. Martin Walsh has been appointed as Power System Engineer for Gaelectric Developments Ltd. His role involves grid connection and compliance activity on a mixed asset renewable energy portfolio.

Leah Smyth has been appointed as the new Mortgage and Protection Client Manager for MC Mortgage Choices. Leah’s role will be to provide assistance to the financial advisor. Paula Lyttle has been appointed as Sales Negotiator for Michael Chandler Estate Agents. Paula’s role is to provide a high quality service to both clients and purchasers in handling every aspect of the sales process. Kirsty Finney has been appointed as the new Lettings Manager for Michael Chandler Estate Agents. Kirsty has over 10 years’ experience in estate agency with knowledge in sales, valuations and new developments.

John Casey has been appointed as Operations Manager for the Cleaning division at the Mount Charles Group. John will oversee a number of key contracts throughout Northern Ireland, leading a team of four Area Managers. Danielle McAllister has been appointed as Health, Safety and Environmental Officer for the Mount Charles Group. Danielle holds a degree in Land use & Environmental Management and joins Mount Charles from Belfast Harbour Commissioners. Anne-Marie Rainey has joined the Mount Charles Group as a Personal Assistant to the company’s senior management. Anne-Marie joins the company from Quigg Golden, where she spent five years in a similar position.

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PHOTOCALL 1. Smooth operator Bambi the Jersey cow joined Bryan Boggs from Clandeboye Estate and Caoimhe Mannion, Tesco Northern Ireland’s Marketing Manager, to help launch Clandeboye Estate yoghurt smoothies into Tesco stores across Northern Ireland recently.

2. The Prince’s Trust Million Makers competition has taken off in Northern Ireland with several of Northern Ireland’s top companies competing to outdo each other in this entrepreneurial fundraising initiative. From left to right are Shauna McAteer, Concentrix; Philip Bain, ShredBank; Kayla Savage, Prince’s Trust Young Ambassador; Damien Kobus, Capita HR Solutions; Veronica McKinney, Translink.

3. Rory Best, Tommie Bowe and Paddy Jackson of Ulster Rugby congratulate Daniel and Laura Loughran of Go Power on their new partnership with Ulster Rugby. The agreement will mean the Go Power logo will feature on the back of the Ulster Rugby jersey.

4. Pictured at the opening of Gap’s new Donegall Street store in Belfast are part of the management team Melanie Chesters and Sinead McCusker alongside Hugh Black, Belfast Chamber of Trade & Commerce President.

5. From left: Gabby Logan, Andy Sharlot, (Design Manager) Owen Coyle (General manager), Chris Baldwin (National Sales Manager), Adrian Murphy (CEO of Hewden) who sponsored the category, Rebecca Evans (Construction News). The Keystone Group has won UK award for its IG Brick Slip Masonry Support System at the Construction News Awards.

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PHOTOCALL

6. Ulster University postgraduate student Christopher Weir (centre) has claimed a prestigious award, sponsored by law firm Allen & Overy, in recognition of excellence in library and information management. Christopher is pictured with Sarah Fahy, A&O’s Global Head of Libraries and Dr Sam McGuinness, Head of the School of Education at Ulster University.

7. Rugby international star, Chris Henry (right) gives Native chef, Barry Heaton a helping hand planting herbs for the restaurant kitchen. Located in the MAC arts venue at St Anne’s Square in Belfast, Native is the latest outlet for Yellow Door Group.

8. Young Enterprise alumnae Charlotte Campbell and Emilie Vose prepare to fly to Canada for the Next Generation Leader Forum at Trent University in Ontario.

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9. Cookstown energy provider LCC Power will rebrand to Go Power this month to align the energy provider with its fuel company which operates under the name Go. The LCC team is pictured at their Cookstown base.

10. Michael McKillop, Director of Glens of Antrim Potatoes, is pictured left with Roger Hamilton, Business Manager at Danske Bank. The Cushendall-based company has invested £1.25m in a second factory and new packaging machinery with part of the investment being funded by Danske Bank.

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PHOTOCALL 11. County Armagh company Avondale Foods has celebrated 50 years in business. Pictured marking the anniversary are Harry and Derek Geddis, the founders of the Lurgan firm.

12. From left: David Walliams, Ian Megahey (Barclay Communications) and Matthew Dykes (O2). Barclay Communications picked up a Comms Business Award at a ceremony in London last month.

13. Andrew McMichael, Mark Neeson, Howard Forsythe, Graham Steel from Brakes Foodservice tee up ahead of their Longest Day Golf Challenge in aid of Macmillan Cancer Support. The group were cheered on by Courtney Radcliffe, Brakes Marketing Manager.

14. Jim Murphy, managing director of Almac’s Clinical Technologies Business Unit, is pictured with Dr Robert Dunlop, managing director of Almac’s Clinical Services Business Unit, at Almac’s new Asia Pacific headquarters in Singapore.

15. David Hanna, right, from car detailing company 50cal shows Neil Gilmore, Business Manager at Danske Bank, how his firm’s high-end detailing product puts the shine on a brand new £250k customised Ferrari. The bank helped finance the company’s expansion.

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PHOTOCALL 16. A business development programme, led by Craft NI, the Arts Council of Northern Ireland and Invest NI, which has launched the careers of 35 designer-makers, is celebrating its tenth anniversary. Pictured are Alan Kane, Craft NI, Designers Jude Cassidy and Derek Wilson with Suzanne Lyle, Arts Council of Northern Ireland.

17. In the third of a series of business breakfasts this year, the Publicity Association of Northern Ireland (PANI), welcomed Danske Bank UK’s Chief Economist Angela McGowan to present on the advertising and publicity industry’s economic prospects for 2015 and beyond.

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18. Ballyrashane and Town of Monaghan Co-ops have confirmed plans to merge under the new name LacPatrick. Pictured standing are Gabriel D’Arcy (Chief Executive) and Nigel Kemps (Deputy Chief Executive), with (seated); Hugo Maguire (Chairman) and Roy Irwin (Deputy Chairman).

19. Lord Mayor Darryn Causby is pictured launching Armagh’s new digital marketing campaign “ArmaghForYou”. Also pictured are Jen Allsop (Head of PR & Social media with Destination CMS), Claire Toner (City Centre Manager), Geoffrey Hawthorne (T.G. Hawthorne), Mark Hawthorne (Lila’s) and Maria Joyce (Maria Joyce Specialist Clinic).

20. Michael Patterson, Bar Manager at The Merchant Hotel, and David Kennedy from Dillon Bass are pictured receiving a delivery of the first bottle of the limited edition Hennessy 250 Collector Blend at The Merchant Hotel.

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PHOTOCALL 21. Enterprise, Trade and Investment Minister Jonathan Bell is pictured with Barry Mulhern, Managing Director of CMASS Ltd. The visit marked the Mallusk manufacturing service firm’s fifth anniversary.

22. AJ Power was host to a number of HM Treasury officials last month at their manufacturing plant in Craigavon where they met with CBI members to discuss opportunities and concerns around taxation. Pictured with one of the officials, is Colin Walsh, CBI Chair and Ashley Pigott, Chief Executive of AJ Power.

23. Ian Nuttall, Business in the Community and David Gavaghan, Chair ARENA Network invite organisations to take part in the 2015 Northern Ireland Environmental Benchmarking Survey.

24. The Science Park’s Generation Innovation programme is hosting six teenage interns this summer. Pictured from left are young entrepreneurs Mason Robinson, Rebekah Loughlin, Jack Wallace, Erin Bennett and Mark Ireland secure £2k Science Park Internships.

25. Henderson Foodservice staff took part in a fundraising drive across Northern Ireland for the company’s charity partner, the Northern Ireland Children’s Hospice, pushing fundraising for this year so far to over £7,500. Teams of drivers, sales staff, senior management and Henderson Foodservice’s charity committee raised almost £1,800 during customer visits on June 26.

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PHOTOCALL 26. The Agri-Food and Biosciences Institute (AFBI) have recently announced plans to host a major Dairy Open Day later this year under the theme â&#x20AC;&#x2DC;Surviving Today â&#x20AC;&#x201C; Planning for Tomorrow. Pictured at the Launch Event for the AFBI Open Day are (L-R) Ian McCluggage (CAFRE), Conrad Ferris (AFBI), Steven Morrison (AFBI), Jason Rankin (AgriSearch), Andrew Dale (AFBI), Sinclair Mayne (AFBI) and David Johnston (Ulster Grassland Society and AFBI).

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28. Niall McMullan, creator of Yardsman lager, celebrates as the small batch brew wins a Gold Medal at the 54th Monde Selection International quality awards. The awards presented the accolade to Yardsman lager at the recent awards in Lisbon.

29. Wind energy company Simple Power and farming charity Rural Support are celebrating two years of success of their corporate social responsibility partnership. Pictured are Simple Power Chief Executive Philip Rainey and Rural Support Chief Executive Jude McCann.

30 AUGUST 2015

27. Powerteam has announced it will now operate as Omexom UK and ROI. Pictured at the announcement are Alastair Dawson of Omexom UK and ROI Gavin Robinson MP for Belfast East and Rochdi Ziyat of VINCI Energies UK and ROI.

30. Minister of Enterprise, Trade & Investment Jonathan Bell, BDO Partner Francis Martin and Andrew McCormick, DETI Permanent Secretary in attendance at the BDO Annual Agri-Food In-Camera Dinner held on 17th June at Hillsborough Castle.

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Kevin Kingston (Danske Bank), Colin Conway (Newell Stores), Minister Mervyn Storey MLA (NI Executive), Peter Boyle (Argento) and Glyn Roberts (NIIRTA).

EVENT

Danske Bank – business ‘Advantage’ series

anske Bank recently hosted a retail sector business breakfast at the Ramada Plaza hotel in Belfast and a manufacturing sector business breakfast at the Glenavon House hotel in Cookstown. Danske Bank’s ‘Advantage’ series of business events will run all year giving customers and prospective customers an opportunity to hear from leading speakers in different sectors that will be key to the ongoing recovery of the local economy. The retail event was held in partnership with the Northern Ireland Independent Retail Trade Association (NIIRTA), which was launching its annual Independents’ Day retail campaign. Kevin Kingston, Danske Bank’s Deputy CEO & Managing Director of Business Banking said at the event: “We believe the economic landscape for retailers is only

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going to improve in the year ahead and Danske Bank is committed to supporting the growth and success of the local retail sector. It is fitting that Danske Bank decided to focus the first of its Advantage events on the retail sector as it is the largest sector of the Northern Ireland economy”.

“We believe the economic landscape for retailers is only going to improve in the year ahead and Danske Bank is committed to supporting the growth and success of the local retail sector.”

Also addressing this event was an impressive list of speakers that included Social Development Minister Mervyn Storey MLA, Peter Boyle of Argento, Colin Conway of Newell Stores and Danske Chief Economist Angela McGowan. The manufacturing event was held in partnership with Manufacturing NI and at the event its CEO, Stephen Kelly, revealed that 11% of all jobs in Northern Ireland are manufacturing jobs, with the figure rising to 27.5% in the new mid-ulster council area. Also addressing this event was an equally impressive list of speakers that included Chairman of the NI Assembly Enterprise, Trade and Investment committee Patsy McGlone MLA, Professor Peter Russo from EBS Business School in Germany, David Henderson of Tobermore and Danske’s Head of Markets, Brian Telford. More Danske Advantage events are planned for the autumn.

Stephen Kelly (Manufacturing NI), Professor Peter Russo (EBS Business School), Kevin Kingston (Danske Bank), David Henderson (Tobermore) and Patsy McGlone MLA (NI Assembly).

Eric Reid (Fruit Field), Oonagh Murtagh (Danske Bank) and Paddy Doody (Henderson Group).

Peter Boyle

Austin Coll (Danske Bank), Paula Kane (Bangor Chamber of Commerce) and Damien Stafford (Ulster Business Equipment).

The Manufacturing panel.

Paul Caves (Stephens Catering Equipment), Ian Beatty (Danske Bank) and Colin Neill (Hospitality Ulster).

Lewis McCallan (Danske Bank), Richard Stack (Danske Bank) and Tracy Hamilton (Mash Direct).

AUGUST 2015

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EVENTS

Canapés and cocktails The cream of the last month’s business events Moy Park Health and Safety Award Moy Park has been named the winner of the 2015 Royal Society for the Prevention of Accidents (RoSPA) Food and Drink Health & Safety Award, in recognition of its health and safety performance. Pictured at the awards ceremony are Lord McKenzie of Luton, RoSPA President; Mike Mullan, Moy Park HR Director Europe, and Tom Mullarkey MBE, RoSPA Chief Executive.

Autoline Michael Blaney, Managing Director of Autoline Insurance Group, is joined by Sinead Magill of Northern Ireland Chest Heart and Stroke (NICHS) at Autoline’s gala charity dinner at the Canal Court Hotel in Newry. Thanks to ticket sales, donations, a raffle and an auction on the night, over £25,000 was raised from the dinner which takes the broker above its £40,000 fundraising target for 2015 even before the halfway stage.

Young Enterprise UK awards Young Enterprise company ActiKids were celebrating on Thursday 2nd July as they received two awards at the UK Company of the Year Awards in London. The group of 17-18 year old students from Friends’ School have been working with Young Enterprise since October last year to start and run their own business with support from the charity’s volunteer business mentors. They became the first company from Northern Ireland to receive an award at the UK-wide competition for 20 years, as they took the production award. Pictured with the company are their volunteer advisers Gavin Partridge (Capita) and Roger Kennedy (Aiken Kennedy Financial Planning) with their teacher Ashlea Bell.

Deloitte Technology Fast 50 Awards The 2015 Deloitte Technology Fast 50 awards, which rank the fastest growing technology companies across the island of Ireland, are now open for entries. The awards, which are now in their sixteenth year, will honour the very best of the indigenous technology sector and recognise those companies that have demonstrated exceptional growth in turnover over the last four years. Pictured launching the awards: Tara Simpson, CEO, Instil with Patrick McAliskey, Managing Director, Novosco and David Crawford, Partner at Deloitte.

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EVENTS

Barclay Communications’ Race Evening

NI Entrepreneurs’ Exclusive Bootcamp

On Friday 29th May Barclay Communications’ Race Evening hosted Down Royal’s first Gentleman’s Day and raised over £3,000 for the Jonjo Bright Trust. Barclays supported the Jonjo Bright Trust for three years and raised £3,364 for the cause on Friday night. From left: Joanne McSeveney of Barclay Communications with prize draw winner Avril Jenkins and Robert Patton of the Jon Jo Bright Trust.

Representatives from four Northern Ireland businesses have returned home from the EY Entrepreneur of the Year CEO Retreat that took place across Berlin and Munich last week. The Northern Ireland EOY finalists pictured are Catherine O’Neill (Amelio, Antrim), Terry Knox (CD Group, Antrim) and Alyson Hogg (Vita Liberata, Antrim).

Zara Awarded Top President’s Award Paul McMahon, President of Belfast Chamber of Trade and Commerce pictured with Sylvie Moroz, Manager at Zara. Belfast Chamber of Trade & Commerce has awarded Spanish clothing and accessories retailer Zara with a highly coveted President’s Recognition Award. The chain has been recognised for their investment in the city and for their re-fit and extension of their flagship Belfast store. Pictured is, Paul McMahon, President of the Belfast Chamber of Trade and Commerce with Sylvie Moroz, Manager at Zara.

Hastings Hotels Does the Treble

Newry Rewarding Excellence was the theme of the launch of the Greater Newry Area Business Awards 2015 on the 29th June in the Canal Court Hotel. The biennial business awards competition was officially launched by Cllr Naomi Bailie, Chairperson of Newry Mourne & Down District Council, President Deborah Loughran, Newry Chamber of Commerce and joint principal sponsors Francis Kelly, B/E Aerospace and Eimear McArdle, Canal Court Hotel & Spa.

AUGUST 2015

Victoria Parks from the Culloden Estate & Spa, Niall Burns from the Slieve Donard Resort & Spa and Adrian McDaid from the Europa Hotel are celebrating after picking up prestigious awards at the Institute of Hospitality’s 2015 Janus Awards which recognise the top talent of Northern Ireland’s hotel and catering industry.

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TECHNOLOGY

Windows on the world Adam Maguire checks out the latest gadgets, gismos and gifts from the world of tech.

Reviews Windows 10 Microsoft says its latest operating system will be its last ‘big bang’ release – but it’s also the most important one since the days of Windows 95. Once the undisputed king of computing, Microsoft’s poorly received Windows 8 system saw it falter just at a time when its rivals were gaining in strength. Its newest release is an attempt to atone for some of those sins and win users back from Apple and Google. One of the biggest changes made is the reintroduction of the popular ‘Start’ menu system of old – though some Windows 8 flourishes are retained, such as the boxy interface and constantly updated ‘Live Tiles’. This blending of old and not-so-old is largely what Windows 10 is all about, too, with Microsoft taking some of the better ideas from its overly-ambitious predecessor while also ensuring the software’s classic usability is retained. The idea that this software will also work well across a range of

devices is also baked-in, with the interface and applications adapting to suit whatever screen size it’s applied to. Users making the move to 10 can probably expect a few bumps along the way – as can be expected with any new piece of software. But that aside, they will likely find it a welcome step forward from what has come before. Windows 10 is available as a free update to all Windows 7 and Windows 8 users.

HTC M8s While the flagship devices tend to get all the attention, an important battle is being waged at the middle market – and HTC has just launched a compelling salvo. If you want the latest and greatest device from any manufacturer, you can expect to pay for it – be it as an up-front cost or through a drawn-out contract. Take a step back, though, and you may find something almost as good for a lot less. The HTC M8s is a perfect example of this – and it follows in a solid tradition of impressive smartphones from the Taiwanese firm. As the name suggests it takes its cues from HTC’s former flagship – the M8 (which has now been superseded by the M9). However it is more than just a rebadged effort – as it boasts a bigger battery, faster processor and better camera. Sure, it will not give you everything that the M9 has to offer – but it will cost you considerably less while still giving you the full-blown smartphone experience. The HTC M8s costs £380 – or considerably less on a contract.

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TECHNOLOGY

Previews Moto X Style Motorola regained its swagger as part of the Google family, but it will hope its latest ‘X’ smartphone will maintain that standard now that itís part of Lenovo instead. It almost became a technology punchline, but Motorola has found its voice once again in a crowded marketplace. Now part of Lenovo it is also tied into a sophisticated gadgetmaking operation, though the move from laptops to phones is not necessarily a smooth one as the likes of Dell will surely attest. However first impressions of the Moto X Style – the latest top-line device from the firm – suggest that the transition has gone relatively smoothly. It packs all the punch you would expect – with plenty of storage (and space for more via microSD), good battery life, plenty

of RAM and a fast processor. It also has quite decent looks – aping a Samsung Galaxy S at the front and offering a degree of customisation on the back.

Sony Smart-B Trainer Aiming to tap into the cutting-edge fitness market, Sony’s Smart-B Trainer makes a compelling offer to simplify an exercise routine. Smartphones are increasingly fitness-aware, be it through built-in sensors, pre-loaded software or downloadable applications. People are also increasingly being encouraged to wear smart watches or wristbands, while connecting up to their devices via wireless headphones in order to receive mid-exercise instructions and tips.

It runs Google’s Android – so may struggle to stand out from its stable-mates – but on paper at least will give any competitor a run for their money in performance stakes.

Not only that, however, it also carries a heart rate monitor and GPS radio so it can track you as you exercise, providing live feedback as well as post-workout analysis. What it probably won’t do, however, is make the exercise itself any easier.

For those who find balancing all of that tech a workout in itself, Sony’s Smart-B Trainer could streamline the process. Primarily a pair of headphones, the device also houses some storage so you can listen to your favourite songs without having to carry a phone at the same time.

AUGUST 2015

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for business

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BUSINESS TRAVELLER

Susie McCullough, Belfast Waterfront and Ulster Hall home in a far flung destination? I’m often out selling Belfast Waterfront with friends and colleagues from Belfast, which is great as I don’t have to eat alone. What do you enjoy most about working internationally? Meeting new people. What’s your favourite city/country in the world and where has disappointed you? I’m passionate about Uganda, but have to say that Belfast is still the best city (and I’m not just saying that). Mauritius was a disappointment, went there on my honeymoon and it rained for two weeks. What do you look for in a good hotel? Friendly service and a comfortable bed. How often do you travel and why? Having the wonderful job of selling the new world class conference facility at Belfast Waterfront I get to travel a lot, particularly to mainland GB, Europe and the States. Other than your phone, what are the three things you couldn’t do without when travelling for work? My laptop as I do a lot of presentations and show videos of the Waterfront and Belfast to potential clients, a change of clothes when travelling longer flights, as I tend to come off a plane looking a bit crumpled and a notebook as I often get great ideas from seeing new places and meeting new people. Have you found a good way to work while you are on the move? Keeping in touch with the office is important, but spending time building a relationship with clients is more important. I’ve learnt that the office wouldn’t fall down without me. What would be your top tips for anyone embarking on a job that involves a lot of travel? Try and take time to enjoy the places you visit. What’s your favourite App for passing the time? Candy Mania or Crossing Road (reliving my youth!) Have you ever unexpectedly run into someone you know from

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What’s the best airline you’ve flown with and the best hotel you’ve stayed in? The One and Only in Dubai is a wonderful hotel and Emirates are hard to beat. Have you worked out a way to avoid jetlag? Unfortunately not. Do you speak any languages and if so, have they been of use on business trips? Ashamed to say I’m very bad at languages but I do try and say hello and thank you in the local language, which always brings a smile/laugh. Where in the world would you most love to work? Belfast is fast becoming a happening, mustsee business tourism destination. And to be heading up the sales and marketing team at Belfast Waterfront, especially in the run up to the opening of its new world class conference facility in Spring 2016, there’s nowhere else I’d rather be. Where are you off to next? Boston.

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TRAVEL

Airport funds the most important meal of the day

What not to pack Online flight booker Skyscanner list six things you really shouldn’t be packing for your holiday.

1. Toiletries Take two bottles into the shower? Not me, I like to wash my hair and go on holiday with only the appropriate amount of product – shampoo, conditioner, face wash, aftersun etc (decanted into 100ml plastic containers of course).

2. Holiday reading

Airport representative Stephen Patton (middle) joins Euston Street Primary School pupils Adam Toner (left) and Lucy Wallace (right) for a nutritious breakfast courtesy of the George Best Belfast City Airport’s Community Fund.

upils at Euston Street Primary School are benefiting from the most important meal of the day thanks to funding from George Best Belfast City Airport’s Community Fund.

Surveys undertaken by the school have revealed that since the introduction of the ‘Breakfast Club’ for Primary 4-7 pupils, 98% of children said their concentration levels had increased with numeracy and literacy scores improving by 59% and 63% respectively. Joanne Currie, Principal of Euston Street Primary School, said: “The funding from the airport, which is very much appreciated by all involved, has allowed us to facilitate a Breakfast Club between 8:15 – 8:45am each day meaning parents can rest assured their child is getting their day off to the best start with a healthy meal whilst saving the family both money and time in the morning. Research suggests that children learn better when well-nourished and we have certainly witnessed improved concentration and motivation levels within the pupils since launching the initiative.” Ten-year-old Lakota has been availing of the service provided by the Breakfast Club and her mother is delighted with its introduction. She said: “I am very grateful to the school and the airport for ensuring the pupils are well set up for the day and ready to maximise their learning potential.” Since 2009, the Airport Community Fund has donated over £180,000 to charitable causes throughout Northern Ireland to help promote positive wellbeing within the community and environment. Stephen Patton, Human Resources Manager at George Best Belfast City Airport, said: “Supporting young people within our community and enhancing their wellbeing is a key objective of the airport and I am delighted that the funding we provided to the Breakfast Club has had such a positive impact on the pupils at Euston Street Primary School.” For more information on how your school, group or project can apply to the Belfast City Airport Community Fund, please visit www.belfastcityairport.com

AUGUST 2015

We’re not talking War and Peace – even a light and fluffy Katie Fforde paperback will weigh down your bag and take up valuable space. You could take just a single book and once you’ve reached ‘reader, I married him’, swap it with a fellow traveller in the hostel common room.

3. Clothes (you bought at the last minute) Well of course you need to take at least some clothes, even if you’re off to Cap d’Agde, but be ruthless. Be sure to try on everything you are taking before you leave – there is the possibility that you lost your mind on that mad rush around town purchasing your holiday wardrobe and that on-trend piece of statement jewellery will be an utter waste of space if you decide it’s not right only when you get there.

4. Salad cream It’s hard to get a decent cup of tea in France. So, if you are self-catering on a budget, taking a measured number of teabags is judicious. Seriously though, come on, you’re going on holiday! Immerse yourself in new, unfamiliar cultures. Leave the home comforts of good old Blighty a distant dream.

5. Hair straighteners Every girl knows that hair straighteners are as essential as a liberal application of Maybelline for a night on the town. No! Leave them, ladies. Dry those kohl-smudged eyes and imagine the freedom in your heart when you embrace a policy of bed/beach hair.

6. Valuables Even if your hotel room has a safe and 24 hour security, there is still plenty of opportunity for the loss of your most treasured possessions. Just because you’re vigilant in shady side streets in downtown Montevideo doesn’t mean you mightn’t misplace your iPad. Leave objects of economic or sentimental importance in the jewellery drawer at home, or in the company of your other teddy bears.

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SPORT

Poised in pole position

With Geoff Wilson

he Ulster Grand Prix is one of Northern Ireland’s premier international events. The race is held in August each year and sees riders and spectators from all over the world making their way to the Dundrod circuit which is located outside the city of Lisburn. The event has undergone a major overhaul in the last five years and is known as the ‘Worlds Fastest Road Race’. So what has happened over the last five years? Well for starters the organisers have developed a very clear strategic plan for the event. Implementation of the strategic plan has included a re-branding project, engagement programme with the fans, a new commercial and PR plan as well as focusing on all aspects of administration and safety for the spectators and riders. In addition to the implementation of the various plans, the race has developed into a road racing festival with a full range of fans’ activities during Bike Week. It has been exciting to see the growth and development of the event which generates an estimated

Pictured are (back row, l-r): Ian Hutchinson, Noel Johnston, Clerk of the Course at the Metzeler Ulster Grand Prix, Cllr Thomas Beckett, Mayor of Lisburn & Castlereagh City Council, Peter Hickman and Dean Harrison. (Front row l-r): Glenn Irwin, Dan Kneen and Paul Owen.

£3m per year from tourism and business related activities during Bike Week. Not only is the race known across the world, but its story has been told many times at international sporting and business conferences giving the organisers a fantastic platform to promote their achievement and exchange learnings with other sporting organisations.

Prix is back where it belongs – as one of the world’s leading road racing event. Geoff runs his own sports consultancy, working with clients such as FIFA across the world. He is also on the board of Tourism NI and the Chartered Institute of Marketing in Ireland. You can follow Geoff on Linkedin at www.linkedin.com/in/geoffwnjwilson or

It has been a long road but the Ulster Grand

twitter @geoffwnjwilson

Toasting the success of the Gran Fondo Giro d’Italia

wo Portadown-based companies, Shelbourne Motors and Robb Brothers Wine Merchants, are ‘raising a glass’ to the success of the inaugural Gran Fondo Giro d’Italia, which took place in June, following their close involvement with the event. The Gran Fondo is the official legacy event of the 2014 Giro d’Italia Big Start and Shelbourne Motors were appointed the official vehicle supplier for this follow up major sporting occasion while Robb Brothers Wine Merchants were involved through their association as local distributors for Italian wine company, Fantini Farnese, an official sponsor.

Robb Brothers Wine Merchants personnel, Will Robb and Steven Adamson with Darach McQuaid (centre) from Gran Fondo Giro d’Italia organisers, Shadetree Sports on the Fantini Farnese stand at the Giro Paddock, Titanic Belfast. The Giro Paddock was adjacent to the start and finish area at the Gran Fondo Giro d’Italia.

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Shelbourne Motors, one of Northern Ireland’s longest-established car dealerships, provided a fleet of cars, vans and mini buses which were used as official transportation and support vehicles for the Gran Fondo while more than 3,000 bottles of Fantini wine were presented to participating adults.

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Business Diary

September 2015

DATE

EVENT

VENUE

CONTACT

2 September 09.30-12.00

How to Sell through Written Tenders, Contracts & Proposals Organiser: The LEAN (Linking Entrepreneurs in Antrim and Newtownabbey) Network

Mallusk Enterprise Park, Mallusk Drive, Newtownabbey, BT36 4GN Cost: Free event (incl. breakfast)

Jean/Dawn on 028 9034 0017 or email: events@antrimandnewtownabbey.gov.uk

4 September 09.00-11.30

Breakfast bytes Organiser: i3 Digital

i3 Digital, Dargan Road, Belfast Harbour Estate Cost: Free

Tel: 028 9044 7800, E: marki@i3digital.com or visit www.i3digital.com/event

25 September 09.00-12.00

The Accounting Symposium Organiser: Ulster University Business School

W5 Odyssey Belfast Cost: Free

To reserve your place visit: www.business.ulster.ac.uk/events

23 September 10.00-13.00

Introduction: Understanding Equality Organiser: Equality Commission Northern Ireland

Venue: Tullyglass Hotel, Ballymena, Cost: Free

To book Tel: 028 9050 0600 or email:Â edtraining@equalityni.orgÂ

23 September 08.45-12.30

IoD Northern Ireland Bootcamp for New Directors Organiser: IoD Northern Ireland

Craigavon Industrial Development Organisation, Craigavon Cost: Free to Members & Non-Members

For more information contact: Christy.orchin@iod.com

23 September 09.15-12.30

Fire Safety Awareness Course Organiser: Mallusk EnterprisePark in association with Goody Training.

Mallusk Enterprise Park, Mallusk Drive, Newtownabbey, BT36 4GN Cost: FREE

Tel: 0800 980 7990 or Email: karen.wilson@mallusk.org

24 September 11.45-02.15

CBI Northern Ireland 50th Anniversary Lunch Organiser: CBI Northern Ireland

Culloden Spa Resort, Holywood Cost: For ticket price information please contact Anthea Savage

For more information contact anthea.savage@cbi.org.uk

If you would like to promote an event or conference please contact Sonia Armstrong (soniaarmstrong@greerpublications.com)

MY DAY

Uncovering the 9-5

9.30am I have arrived early for my meeting so try to log on to the Institute again to check my results, but there is no network coverage so I keep it on my list until later. I take a call from a fellow student Robert and he has passed. I am delighted for him but anxious to know my results.

10.00am The meeting commences and we learn about the business, the people, the operations and their financial requirements. This is vital in understanding the company’s needs and ensuring we provide the right solution for them. They sell goods in both domestic and international markets; have an excellent quality debtor book and no issues with aged debt. Their payment terms in the industry being 60 days – the business is perfect for invoice discounting.

11.45am On the road again and on my way to Armagh to meet with Paul, the local branch manager and two partners from a local accountancy practice for lunch.

12.30pm

Name: Karen McDowell Position: Commercial Finance Business Development Manager, Bank of Ireland

I arrive at the branch in Armagh and there is enough time to logon and get my results, with a grin I make a quick call to Robert to let him know I too have passed. A few emails later and it’s time for lunch.

1pm Paul and I meet with the accountants. He knows them well as they have worked together before to provide tailored funding packages to support local businesses. Over lunch I introduce them to the working capital products we provide.

MY DAY My day usually starts while everyone else is still asleep. This is when I prepare my “list” for the day ahead. I like a list and I like to plan. I like to get the most of my day...

6.00am I’m on the road meeting customers and colleagues for most of my day, so first thing I do is check my list and download my maps and directions for where I need to be. Then I get ahead by sending my first few emails of the day before all the other alarms go off. I take a moment to go online to check the results of an exam I sat recently with the Institute of Bankers, but I am too early and they are not published yet. I will pop it on my list to check later.

2.40pm Finally, I arrive in Newry where my colleague Bernard, a Senior Business Manager with the Business Acquisition Team, and I are meeting with the managing director and finance director of a wholesale and distribution company. We have met previously and completed a commercial finance survey and financial due diligence. We assessed the business to ensure invoice discounting is the right product for them and today we are delivering our letter of offer. It is a long meeting as we have a lot to discuss. We had noted at survey the business has seasonal stocking requirements so have included our Stockline product in the offer which will help the company to buy in the stock required and potentially enable them to negotiate discounted rates from the supplier in return for prompt settlement.

8.00am I drop my son off at school in time for Breakfast Club and I’m off to begin my day. My first meeting is in Mid Ulster at 10am. I am meeting my colleague Sean, a Senior Business Manager with the Business Acquisition Team, and we are off to see the managing director of a manufacturing business. On route, via hands-free, I check in with my fellow Commercial Finance Business Development Manager Colin, who I know will also be in the car on his travels. At 9am I start to make my business calls.

The directors decide to accept our offer, and as its Friday afternoon we agree to pick up again at the start of the week – another note to be added to my new list.

5.15pm Off to the gym, where my husband and son have already arrived, a quick burst of exercise to finish the week then we are off home – Friday is no cooking day in our house so it’s a take-away for dinner. “List” ticked.

Continued support for Northern Ireland

Barclays is proud to support businesses, from start-ups to PLCs, and we offer funding, support and specialist advice to companies in Northern Ireland. Working with our Relationship Teams and industry specialists, you can be confident in our support to help your business succeed. To find out how we can help your business succeed, call Adrian Doran on 02890 882900* or visit Barclays.com/corporatebanking

*Lines are open Monday to Friday, 8am to 6pm. To maintain a quality service we may monitor or record phone calls. Barclays is a trading name of Barclays Bank PLC and its subsidiaries. Barclays Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 122702). Registered in England. Registered number is 1026167 with registered office at 1 Churchill Place, London E14 5HP.