Miri and Laurence discuss plans for a major development in Liverpool, the financial performance of a gym group and upcoming results from listed firms.
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00:00Major redevelopment plans in Liverpool City region. Results for a nationwide gym
00:05chain. And what's going on in the week ahead? That's all coming up in today's
00:09business briefing.
00:15My name is Lawrence Corganan. And I'm Mary Thomas. Well Mary, we'll start in
00:20Liverpool City region where there's some fantastic plans in. It relates to
00:26Speak. I don't know if you know Speak? Yeah, near the airport right? That's right
00:30near the airport. And thankfully for this development very well connected to the
00:34motorways and also and as you say the airport. But it's an old printing
00:38facility for Prinovus. It was acquired by GB Europe Holdings earlier this year.
00:43And they are now going to sort of transform it into a logistics facility.
00:49Which does seem like the fate for quite a lot of things that get bought up.
00:51Whether they're old factories or what have you. But I suppose it shows you the
00:55demand for things like online retail and what have you. But anyhow they they're
00:59going to knock down most of the buildings on the site. And then they're
01:03going to replace it with the huge warehouses. Which you see dotting up around the
01:06motorways around around the country. Now it's a 50 acre site. And according to the
01:12planning documentation that's going to be able to support about 1,200 jobs. So
01:16really good news. And Speak is somewhere which is already popular with the
01:21logistics companies. So I can imagine it being popular when it's built as well.
01:25Interesting. Okay we'll keep our eye out for that. Absolutely. And yes we've also
01:30we've got a lot of results coming up this week. So perhaps you can tell us
01:35about some of those. So on Tuesday Virgin Wines released their final results for
01:40the year. Now last year they announced that EBITDA their earnings before tax
01:44more than doubled to 1.76 million. We'll see if they repeat a sort of a good
01:51performance like that again. Yeah we'll just have to just wait and see for the
01:55next day or so. Absolutely. And one thing that caught my eye actually in the week
01:59ahead is well it used to be called Revolution Bars Group. You'll be familiar
02:04with Revolution Bars. They also own some some more premium pubs as well. And they
02:10went through a quite a high-profile restructure earlier this year. I think
02:14that led to the closure of about 18 sites. Well they've changed their name to
02:19the Revel Collective now. Which is said to sort of signal the new start that
02:25they're making with following the restructure. And they're going to be
02:28putting out their sort of first results which will cover the restructuring phase
02:33as well. So that'll be really interesting. And on today's newsletter actually we
02:37did results for Fitness First. Often where people will find themselves after
02:41a night at Revolution I imagine. Fitness First is a nationwide gym
02:46chain. And they posted some positive results. And in there they upped
02:52revenue to almost I think it was almost 40 million. Yes almost 40 million. And
02:57they said that their membership was on the increase too. Pre-tax profits did
03:02dip. But Fitness First said that they had a sort of one-off exceptional cost in
03:06the year before. Which sort of distorted the results a bit. So good to see them
03:10doing well. It's a very competitive sector gyms. Especially sort of you
03:17imagine they'll be looking forward to the new year where people make all their
03:20sort of resolutions what have you. So we'll see what they do. There's more
03:24results this week as well. So Gear for Music the retailer of musical
03:29instruments. They're releasing a trading update to the city this week. And if you
03:33remember the company reported a pre-tax profit last year of six hundred thousand
03:37pounds. Compared to a loss of four hundred thousand the year before that. So
03:41we'll see if trading continues to be buoyant. And we're also hearing from
03:45Susanda their fashion retailer. So they started out as an online retailer. But I
03:49think earlier this month we reported that they'd opened their fourth physical
03:52store. This time in Cardiff. Yes very interesting that isn't it. Because they
03:55are a online retailer which is making some moves into bricks and mortar. So
04:00interesting. It's not really a brand I'm familiar with. But it's women's fashion.
04:04Yes started in the North West. And the final thing to look out for this week I
04:11think is the first update to the city from the combined Barrett Red Row Group.
04:15So they announced their 2.5 billion pound merger earlier this year. And this
04:21is the first time we're hearing what it's like under the hood I guess is how
04:25you'd put it. Yeah a fascinating merger to see what's going to happen to the
04:29wider house building industry. I think consolidation is key there. Lots of
04:33people looking at deals and and so on. So yes let's see how Barrett and Red Row
04:37are getting on. But to find out more about the stories we've mentioned go to
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04:45our magazines and find out about upcoming events in this very busy time
04:49for events. Anyhow that's everything from us. See you next time.