Likewise Group celebrating first £1 million order intake in one day as annual sales soar 12.9% to £139.5 million

The UK’s fastest growing floor coverings wholesaler is celebrating taking orders worth £1 million on one day for the first time.

Likewise Group plc announced the news as the Birmingham-based reported a 12.9% sales increase to £139.5 million in the financial year to 31 December 2023.

Underlying profit before tax, following continued investment by the group to achieve its medium term objectives, was £2.3 million.

Subject to shareholder approval at the AGM, a proposed final dividend of 0.25p will help deliver a total dividend of 0.35p in 2023, up 75% on 2022.

Chief executive Tony Brewer said: “Likewise Group plc has again made significant progress in 2023, which has continued into the first four months of 2024, with group sales revenue to the end of April increasing by 8.7% and sales in Likewise branded businesses increasing by 15.3% compared with the prior year.

“The group continues to trade in line with current market expectations.”

He said the current turnover of £139.5 million was highly encouraging but with significant investment in logistics and sale providing strong foundations to develop the business, Likewise now had its sights set on exceeding £200 million in the medium term.

He pointed out that Likewise now has:

  • 11 distribution and logistics centres created with total capacity at c.15 million cubic feet
  • 80 suppliers across key flooring products
  • 93 customer-focused management and sales executives
  • 139 delivery trucks providing next day service
  • 507 employees, with a significant majority with long-standing flooring experience
  • 100,000s of point-of-sale items creating market presence
  • Over 5,000 customers, principally independent flooring retailers and contractors

He added: “The Glasgow distribution hub, opened in Spring 2023, is now making a meaningful contribution with regard to storage, picking and cutting into the Likewise logistics network. Furthermore, Likewise Scotland is progressively increasing market share in both residential and commercial flooring.

“Likewise North East which moved into a new logistics centre at the beginning of 2022 is now very clearly established across all flooring sectors and is well placed to progress its geographical presence.

“Likewise North, based in Leeds, is particularly active throughout the M62 Corridor and is providing an enhanced service to North West England through the new Manchester logistics centre. Further investment in sales resource and point-of-sale will continue to increase their market share in residential and commercial flooring.”

A&A will move into its new logistics centre in June. A&A has made an important contribution to Likewise Group since being acquired in January 2020 and the new facility will allow A&A to make its next progression in both residential and now commercial flooring.

Based in Birmingham, the Likewise Midlands business has made tremendous progress over the last two years and is now very much established as a principal distributor of residential and commercial flooring throughout the Midlands.

Likewise South is progressively taking market share of residential flooring in the South of England and will benefit from the expansion of the Floors by Lewis Abbott premium branded carpet.

Likewise London moved into a new logistics centre in Sidcup during January 2023, providing a much improved geographical reach and enhanced transportation network. To further develop Likewise London, investment has been made in 2024 to strengthen the management and sales team.

Similarly, from its distribution centre in Sudbury, Likewise South East has received investment to increase its management and sales team. This allows both businesses to increase significantly their presence in the important London and South East flooring markets and also particularly benefiting from the Floors by Lewis Abbott product range.

Mr Brewer said that Likewise Wales had become operational in January 2024 from the Newport distribution centre and, with the support of the Likewise network, has every opportunity to build a meaningful business in both residential and commercial flooring.

He added: “Valley Wholesale Carpets is a very important part of the group. The profitability and positive cash flow of Valley has been particularly strong in the last two years.

“Valley has extended its geographical reach over the last year and there are further opportunities to expand from its key distribution centres in Erith, Derby and Newport.

“Furthermore, Valley will increase its product portfolio and develop additional point-of-sale displays to provide an enlarged offering to their customers enabling Valley to have an exciting future while remaining autonomous in the group structure.

“The H&V Carpets, Delta Carpets, Floors by Lewis Abbott Premium Brand and Likewise Rugs & Matting have every opportunity to further establish themselves in their respective products segments to be an increasing part of the group’s activities.”

Mr Brewer concluded: “Likewise Group has made significant progress in the last three years. The board thanks management, sales teams and all staff for their tremendous contribution to developing the group and what has been achieved in such a short time.

“Despite challenging market conditions, 2024 has started positively and we have every confidence of another successful year and most importantly another major step towards our medium-term objectives.

“Likewise would also like to thank all our suppliers, customers and shareholders for their support over the last few years and look forward to further strengthen those relationships to our mutual benefit.”

Ends

Issued on behalf of Likewise Group plc, Unit 4, Radial Park, Birmingham Business Park, Solihull Parkway, Birmingham B37 7YN

For further information, please contact:

Andy Skinner, at ASAP PR – 07990 978257

Editors’ Notes

Likewise Group plc is a distributor of floorcoverings and mattings established with the intention of consolidating the domestic and commercial floorcoverings markets to become one of the UK’s largest distributors in this sector. The UK floor and wall covering market is worth circa £3.2 billion and is expected to increase at a compound annual growth rate of 2.1% from 2019 to 2024 to reach £3.5 billion, split between the residential, commercial, public and industrial markets. Likewise Group’s strategy is to focus on the residential and commercial sectors.

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Minister for Manufacturing needed as nine in ten firms unhappy with government support for sector

Audit, tax, advisory and risk firm Crowe has provided a snapshot of the UK manufacturing market with the results of its Manufacturing Outlook Report 2024, examining how the UK government can best support the sector.

Johnathan Dudley, partner and Head of Manufacturing at Crowe, said: “With over half the world’s population voting for future governments this year, the manufacturing sector’s attention has been focussed on areas that can be directly influenced and transformed with the right policy support and intervention.”

During a period of high inflation, political changes, and continued strained supply chains, Crowe’s analysis – conducted in partnership with the Confederation of British Metalforming (CBM) – looks at the key issues impacting manufacturers. Read the full report here.

Key findings from nearly 90 respondents, include:

  • A vast majority – 87% – of manufacturers are unhappy with the government support currently provided to the sector
  • 45% view current global turbulence and economic conditions as barriers to growth
  • Nearly 7 in 10 manufacturers expecting a growth in sales this year
  • 70% invested in carbon neutral initiatives last year, a third increase on 2023
  • 70% have increased wages for workers in line with inflation
  • 71% believe that industry 4.0 technology will have a significant effect on the sector
  • Only 5% of respondents cite energy as a barrier to growth, down a fifth on 2023

Crowe’s analysis shows that the effect of global conditions, including geopolitical tension and conflict, global and national inflationary pressures, and political turbulence, are having an increasing impact on the sector. It’s fair to aggregate these concerns with the Brexit and trading tariff results, with more than half of respondents stating they have a significant concern around supply chain uncertainty.

However, even with these considerations, there is evidently a spirit of business flexibility and “knuckling down” in the face of global and national political issues, with 68% of respondents to the survey expecting turnover to grow over the next year – a testament to the resilience of the sector.

Barriers to growth

The demand for investment and willingness to invest in manufacturing were significant considerations for respondents.

The survey results show that use of own cash resources has predominantly funded businesses this year, correlating to what has been seen in the market with limited short-term demand for capital investment finance.

Mr Dudley said: “There is a clear reluctance to invest and borrow, and with funding from the government reducing as COVID-19 loans start to pay down, there is a real need for government intervention.”

“Reshoring and near shoring should be back on the agenda, as access to raw materials, expertise, and the necessary funding to capitalise on the opportunities at hand are essential.

“For example, at present, the UK is incredibly efficient at recycling steel scrap, but only 25% of it is processed and retained in the UK for supply, while the rest is exported. Local sourcing and greater control of supply chains is clearly necessary.

2024 Outlook

Interestingly, there has been a reduction in concerns over energy costs (only 5% of respondents cite it as a worry), largely due to increased investment in decarbonisation, with 70% of respondents investing in carbon neutral initiatives, in tandem with falling prices compared to the year before.

What is encouraging is the UK’s status as a world leader in renewable energy production and the growing investment in decarbonisation. However, this is only possible through government funding into new technologies in manufacturing, aerospace and automotive. Strategic allocation of this investment into UK manufacturing is crucial.

There is evidently also an increasing realisation that digitisation is the way forward, with more respondents than 70% – an increase of nearly 20% on 2023 – of respondents believing that new technology will replace traditional manufacturing methods.

Mr Dudley added: “Large numbers have been thrown around by politicians in terms of support for manufacturers, but the proof will be whether this is actually spent on what the sector needs, as evidenced in this report.

“Businesses in this sector face many challenges, from financing to recruitment, but a looming election offers some hope. I’d like to see greater support for UK businesses, and a reduction of regulatory barriers for manufacturers in recognition of the vital role they play in the UK economy.

“The UK has a rich history in manufacturing. For this to continue, it is high time that a dedicated Minister for Manufacturing was established to unlock the sector’s potential and allow the UK to revive its position as a global manufacturing hub.

“Determining a long-term strategy, a Minister for Manufacturing can light the fuse of a new industrial revolution in the UK by aligning innovation, economic development, education and support nearly a million green jobs to help get this country making, building and adding value again.”

Stephen Morley, CBM president, said: “Manufacturing should be a priority for this UK government and the next. The challenges of 2024 present a great opportunity for the sector, with the UK government prioritising economic growth to pay the bills.

“The scene is set for manufacturing to drive UK growth and play a larger part in the UK economy’s GDP. We need significant investment and government support, focussing on an Industrial Strategy including a Minister for Manufacturing.”
Ends

Contacts:

Notes to Editors:

About us

Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk


Crowe industry recognition

  • Top charity auditor for 15 consecutive years (Charity Finance Audit Survey, 2009 – 2023)
  • Risk Consultancy of the Year 2023 for the fourth consecutive year (InsuranceERM)
  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2022)
  • Awarded Silver in the 2022 Citywealth Brand Management and Reputation awards – Best Overall Marketing Campaign category for Your Life Builder
  • Awarded Silver in the 2022 Citywealth Magic Circle awards
  • Ranked 3rd in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, July 2023)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, August 2023)

Crowe appoints Helen Blundell as partner in Social Purpose and Non-Profit team

National audit, tax, advisory and risk firm Crowe has appointed Helen Blundell as a partner in the firm’s Social Purpose and Non-Profit team.

She joins the partnership with more than 20 years of experience and the ICAEW Diploma in Charity Accounting (DChA). She works closely with a diverse range of clients from local charities to organisations operating nationally and internationally.

Having joined Crowe in 2023 as a Director RI (Responsible Individual), Helen’s experience spans audits, independent examinations, and advisory.

Based at Crowe’s Midlands and South West offices in Oldbury and Cheltenham, her advisory work has included governance reviews, corporate structures, and registration support across a range of sub-sectors, including faith-based groups, heritage charities, health and welfare, education, and art organisations.

Crowe’s commitment to its Social Purpose and Non Profits team is central to the firm’s growth strategy. In December 2023, Crowe was named top charity auditor for the 15th successive year in Civil Society’s Charity Finance Audit Survey. Helen’s appointment further demonstrates Crowe’s long-standing dedication to the sector.

Helen Blundell said: “I am passionate about working with clients in the social purpose and non-profit sector and consider it a privilege to be part of a market-leading firm which is equally committed to serving the needs of this sector. I am looking forward to working with my colleagues to continue to deliver lasting value to our clients, providing assurance and allowing them to focus on delivering their objectives.”

Ross Prince, Office Managing Partner at Crowe’s Midlands and South West offices, added: “Helen’s knowledge, experience, and passion for the sector has long been held in the highest esteem at Crowe, making her an important advocate in sharing our values and expertise within the charity sector.

“Her promotion is a testament to our commitment to crafting talented teams who can bring insight and pragmatic advice to our clients. Congratulations and welcome to the partnership, Helen.”

Nigel Bostock, Chief Executive at Crowe, said: “As the cost-of-living crisis continues to impact donations and government funding, and charities are expected to deliver more for less in an increasingly regulated sector, Helen’s expertise supporting these organisations has never been more valuable.

“Her extensive expertise and experience will ensure that our team is fully equipped to continue offering exceptional advice and service to our clients when they need us the most. Congratulations, Helen.”

Ends

Crowe names Ross Prince as new Office Managing Partner in Midlands and South West

Ross Prince has been named as the new Office Managing Partner for national audit, tax, advisory and risk firm Crowe in the Midlands and South West. 

He takes over the role from Johnathan Dudley, Crowe’s National Head of Manufacturing.

He will lead a team of over 300 including 19 partners in the firm’s Oldbury, Cheltenham and Bristol offices.

Ross Prince joined Crowe as a graduate in 2002 and was appointed a Partner in 2014, after graduating from Bath University with a Master of Engineering focused on Materials Science and Engeering. He was educated a Bewdley High School & Sixth Form and lives in Worcester.

He has worked with professional practices, owner-managed businesses and international groups for the last 22 years, helping business owners and leaders to grow their businesses and manage risk. He is also a former Chair of the Worcestershire Group of Chartered Accountants.

He said: “Johnathan is one of the best known business figures in the Midlands and South West and it is a huge privilege to have been chosen to step up into the Office Managing Partner role after he has led us for over 30 years.

“I’m privileged to be working with a team of people who are interesting, insightful and good to spend time with. They have good ideas, care about doing the right thing and helping people – whether that is our clients, our communities or each other.

“We have some exciting things planned for the future, but it will also be ‘business-as-usual’ as the firm is already in a good place right now.”

Johnathan Dudley said: “Ross is a home-grown talent, having trained and qualified as a Chartered Accountant with the firm. 

It has been an honour and a pleasure to lead an office of this firm for over 30 years. I have done this while holding down several other roles in the firm including time both on the supervisory board and the executive.

“These and other roles gave me clear experience of the necessity to get management succession right. Not only is this key to the success of our firm but it’s also important to the individuals involved too. With that in mind, some two years ago, I started to plan for my own succession as office managing partner of MSW and sought out the support of the Executive in this regard.”

He added: “That said, I’m not quite ready to be put out to pasture yet!. The appointment of Ross will free me up to further develop my work with the SME corporate sector and manufacturing businesses of all sizes on behalf of the firm as well as to develop connections for the benefit of the firm in the future.”

Nigel Bostock, Chief Executive of Crowe, said: “Johnathan Dudley has done an outstanding job as Office Managing Partner in the Midlands and South West for over 30 years and will continue to lead our SME Corporate Business practice as well as our sector-leading Manufacturing group.

“Ross Prince is Crowe through and through, having joined us as a graduate and worked his way up to be appointed Office Managing Partner.“Crowe has an open door for talented individuals but it is gratifying to see how we develop our in-house talent and Ross is proof positive that the sky is the limit at Crowe.

“He has worked hard and earned the respect of both his clients and his colleagues and is the natural choice to continue the excellent work of Johnathan Dudley over three decades.”

Ends

Planning is vital to a successful exit strategy from your business

Planning your exit strategy carefully from your business can make a massive difference to your retirement and future plans, according to national audit, tax, advisory and risk firm Crowe.

Crowe is holding a workshop and seminar for business owners, business leaders and finance directors at the firm’s Midlands office at Black Country House, Rounds Green Road, Oldbury, on Thursday 25 January from 08:00 to 10:00.

The free event is entitled “Exit Strategies and Debt Solutions” and will be presented by Crowe staff with experience of working with SMEs over many years.

Andy Kay, corporate finance partner, said: “We understand that business leaders benefit most from working with an external advisor to plan an exit strategy.

“We can help to equip you and your business with the knowledge, tools and expertise you need, and we hope you will join us at this seminar to help you plan a departure from your business.”

He will be joined by Julie Mole, director debt advisory. She said: “We will be covering how best you can plan your exit and the options available to you for exiting your business.

“We will also discuss the funding options available to you.”

Interested parties can register here, or call 0121 543 1900. 

Ends

About us

Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.For more information, visit: www.crowe.co.uk

Crowe industry recognition

  • Top charity auditor for 15 consecutive years (Charity Finance Audit Survey, 2009 – 2023)
  • Risk Consultancy of the Year 2023 for the fourth consecutive year (InsuranceERM)
  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2022)
  • Awarded Silver in the 2022 Citywealth Brand Management and Reputation awards – Best Overall Marketing Campaign category for Your Life Builder
  • Awarded Silver in the 2022 Citywealth Magic Circle awards
  • Ranked 4th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2023)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC (Financial Reporting Council) Key Facts and Trends in the Accountancy Profession, Figure 33, August 2023)

Crowe’s Midlands Corporate Finance team facilitates cross-border cold storage and distribution deal

The Midlands corporate finance team of national audit, tax, advisory and risk firm Crowe UK has advised on the acquisition of a Somerset business by CubeCold Europe.

Following the strategic acquisition of J R Harding & Sons, a temperature-controlled warehouse and distribution company based in Frome for an undisclosed sum, CubeCold Europe has expanded its UK presence.

Crowe director Chasz Coulsting and corporate finance manager Nick Martin acted for CubeCold, providing financial, tax, and HR due diligence services as well as buy side advisory and support on the deal.

Coulsting said: “This is the second deal we have helped CubeCold complete in the UK, with the first taking place last year when CubeCold acquired Pulleyn Transport. It has been a pleasure to work alongside the team at CubeCold to strengthen its UK presence.”

CubeCold Europe’s chief executive officer Gerben Paauwe said: “This acquisition is an excellent strategic fit that strengthens our position in the UK. J R Harding & Sons’ reputation and customer relationships complement our own and together we can provide even greater value to customers through an integrated network.”

Law firm DWF, led by Alexis Karim, acted for CubeCold, and J R Harding & Sons were advised by Temple Bright on the legal side and Monahans on the financial side.

Founded in 1964, J R Harding & Sons operates a 17,000 pallet, temperature-controlled, warehouse with a focus on high value, high margin goods. In addition to the warehouse, the company has a fleet of 11 transport units and runs an Iveco truck maintenance business on the 4.3 acre property.

The location also provides CubeCold with the opportunity to develop a new coldstore facility in the near future.

Situated near the ports of Southampton, Bristol and Bridgwater, J R Harding & Sons’ prime location enhances CubeCold’s logistics network and integrates seamlessly into the company’s current UK operations.

CubeCold Europe is a pan-European cold storage platform, focusing on acquiring and developing small to medium-sized cold storage facilities across strategic areas. A special focus on ports and logistics hubs in Europe makes CubeCold one of the key players in Europe.

The platform has already assembled a portfolio of around 270,000 pallets across strategic assets in the Benelux, UK and Italy region, and is expanding rapidly.

Andy Kay, partner and Head of Corporate Finance in the Midlands and South West, said: “This cross-border deal follows hot-on-the-heels of a number of other international transactions in which we have played a leading role, most notably the recent multi-million pound sale of a UK / Middle Eastern-based specialist manufacturer to a North American buyer, giving the buyer a major foothold in territories in which it did not have a presence.“We are anticipating continued overseas interest in UK-based businesses who are looking at their exit plans, particularly in those businesses that are well-run, have a particular niche and are generally resilient.”

Crowe’s Midlands office is in Black Country House, Rounds Green Road, Oldbury, West Midlands, from where the regional Corporate Finance team advises businesses across the wider Midlands area and the UK. 

Ends

Notes to editor

Contact:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk

Industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2022)
  • Top charity auditor for 14 consecutive years (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2022)
  • Awarded Silver in the 2022 Citywealth Brand Management and Reputation awards – Best Overall Marketing Campaign category for Your Life Builder
  • Awarded Silver in the 2022 Citywealth Magic Circle awards
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2023 for the fourth consecutive year (InsuranceERM)
  • Global Climate Risk and Sustainability Awards 2023 Sustainability Consultancy of the year
  • Climate and Sustainability Champion of the year 2023 award for Alex Hindson, Partner and Head of Sustainability

Supply, raw materials and import costs top UK manufacturing concerns

Nearly 90% of UK manufacturing firms have been affected by the price and availability of raw materials in the past year, according to the annual Manufacturing Outlook Survey conducted by national audit, tax, advisory and risk firm Crowe, in partnership with the Confederation of British Metalforming (CBM).

And 78% say they have been affected by supply chain issues, with 66% reporting that import costs have risen in the past 12 months.

A significant 69% are considering reshoring.

Johnathan Dudley, Midlands & South West Managing Partner and Head of Manufacturing at Crowe, said: “Manufacturers’ financial results made for interesting reading as many firms recorded a strong showing in reporting for financial years ending December 2022 and March 2023.

“This reflected the optimism showed in our winter survey, when 60% of firms said they expected their turnover to grow in 2023.”

Some sectors, however, have clearly been hit harder than others.

Manufacturers exposed to the retail sector saw sales impacted by the dampening effect of interest rates and inflation on consumer spending.

Businesses in automotive manufacturing, aero and rail supply chains were able to pass on price inflation, whereas white electricals and food and beverage price rises have stunted sales for manufacturers exposed to retail headwinds.

Covid-19, geopolitical tension, the conflict in Ukraine and global inflationary pressures combine to ensure supply remains the most critical success factor for many businesses. Raw material price and procurement problems were at their peak in 2021, but pressure on supply remains high with a strong majority (88%) affected by the price of raw materials in 2022/23.

The lingering impact of Britain’s departure from the European Union is causing headaches as the post-Brexit regulatory landscape has become clearer. This is reflected by 31% listing Brexit as a barrier to international trade, a much higher proportion than implied by previous survey responses – suggesting a delay in the true impact of the UK-EU split being felt and realised.

This barrier is not insurmountable, with 78% of respondents successful exporters, but more than a third (35%) indicate that the complexities caused by indirect taxes and duties, clear products of Brexit, have discouraged further expansion into new trading territories.

A potential trend towards re-shoring is one to watch, as two-thirds (66%) report rising costs for goods imported. Local sourcing and greater control of supply chains is evidenced by 69% saying they would consider re-shoring, but only 45% of those currently importing say the same.

Though not possible for all materials (particularly semi-conductors), shortening or internalising of supply chains brings benefits including reduced stock holding and attendant working capital requirements, as well as helping organisations become greener and move towards net zero goals.

Labour is another priority issue, evidenced by three-quarters (76%) of respondents experiencing difficulty in retaining or recruiting skilled staff. More training is required, alongside continued investment in digital manufacturing while a national campaign to promote the sector as a career choice for future generations would help to remedy the problem longer-term.

Johnathan Dudley, Partner and Head of Manufacturing at Crowe, added: “Pent-up demand, post-Covid, has fed through to resilient financial results for UK manufacturers. Supply challenges still remain, however, and the costs and administrative burdens of importing may drive a re-shoring trend which brings environmental benefits, too.

“Businesses face no shortage of challenges, including recruiting and retaining skilled workers, but a looming election provides hope for greater support and recognition of regulatory barriers for manufacturers in recognition of the vital role they play in the UK economy. Indeed, it is high time that a dedicated Minister for Manufacturing was established to unlock the sector’s potential and allow UK plc to benefit.

“For true thrival, manufacturing organisations must look beyond the immediate hurdles and seek out opportunities, whether that be through strategic change of approach, or more actively pursuing supply chain opportunities attached to large infrastructure projects such as HS2 or Hinckley Point.”

Stephen Morley, CBM President, said: “A strong and well supported manufacturing sector has a major part to play in the UK economy’s GDP and should be a cornerstone to build on for any government, whether it be this one or the next.

“There is a unanimous feeling that our voices are not being heard, with EU funding disappearing, the lack of an Industrial Strategy and a business support landscape that is ‘piecemeal’ for conglomerates with little or no help for what our companies require, especially SMEs.

“The call for a ‘Minister for Manufacturing’ is growing and we need the powers that be at Whitehall to act sooner rather than later.”

The report can be found here – Manufacturing outlook report 2023 | Crowe UK

Crowe season-long sponsors of Robins’ keeper Jamie Pardington

It’s always good to have someone solid and reliable at your back – that’s why national audit, tax, advisory and risk firm Crowe are getting behind Jamie Pardington, a first team goalkeeper at Cheltenham Town FC this season.

The 23 year old signed this summer for The Robins and is currently on loan at Truro City.

He is being sponsored by the Cheltenham office of Crowe, a safe pair of hands in providing financial, tax and advisory services to businesses and individuals across Gloucestershire and the Cotswolds.

Jonathan Dudley, managing partner for Midlands and South West, Crowe UK, said: “We are of the firm belief that local businesses, including football clubs like Cheltenham Town are an important part of the community, so we are always looking to strengthen our links locally.

“Like any goalkeeper, we help Cheltenham businesses expertly balance both risk and reward to achieve the best outcome as team so our clients can prosper. This why we are delighted to be sponsoring the up and coming Robin Jamie Pardington and wish him all the best for the season.”

The backing of Crowe has been welcomed by the club.

Luke Saunders, commercial marketing manager, said: “Over the last few years Crowe have shown their support for Cheltenham Town in a number of ways through various means of sponsorship, the latest of which is now becoming the home shirt sponsor of goalkeeper Jamie Pardington, who signed for the club this summer.

“We are grateful to them for their continued backing of the Robins for the 2023/24 season.”The 6’5” keeper has gained experience with Wolverhampton Wanderers, Bath City, Stratford Town, Dulwich Hamlet, Mansfield Town, Grimsby Town and Larne before signing for Cheltenham Town FC this summer.

Crowe UK’s trusted seasoned professionals are always available to help:

Ends 

Contacts:

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk

Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2022)
  • Top charity auditor for 14 consecutive years (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2022)
  • Awarded Silver in the 2022 Citywealth Brand Management and Reputation awards – Best Overall Marketing Campaign category for Your Life Builder
  • Awarded Silver in the 2022 Citywealth Magic Circle awards
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2022 for the third consecutive year (InsuranceERM)

Crowe appoints new audit partner in Midlands office

Audit, tax, advisory and risk firm Crowe has appointed Dan Town to partner in the firm’s audit practice.

Dan Town, who is based in Crowe’s Midlands office in Oldbury, has more than 22 years’ experience providing audit, risk and accountancy support to businesses of all sizes from owner-managed businesses, large corporates, international groups and AIM listed entities.

He has a wealth of experience, working with clients across a wide variety of sectors such as manufacturing, real estate, contracting, retail and sport, advising clients on accounting, technical matters, and group reorganisations. His area of focus at Crowe is providing audit and advisory services to the corporate market, both public and privately owned, ensuring they meet their audit compliance requirements and advising on changes in reporting requirements while delivering a quality-led and insightful audit.

Crowe is pleased to welcome Dan to the partnership at a time where there continues to be changes to the regulatory and accounting environment, which businesses particularly need to monitor. The proposals set out in FRED 82 for example, will see several changes for those preparing financial statements under UK GAAP. Dan’s expertise will be fundamental for businesses to understand how they might be impacted and can remain compliant.

Dan Town, audit partner, said: “I am delighted to join the partnership team at Crowe and look forward to working alongside talented colleagues across the country.

“Crowe has continued to grow in key markets such as its number of AIM listed clients and I look forward to contributing to that growth in my new role, as well as developing my focus on property and real estate across the Midlands and Southwest region.”

Johnathan Dudley, Managing Partner of the Midlands office, said: “Dan has been a fantastic asset to the team throughout his time here at Crowe and I am so pleased to welcome him to the partnership.

“With his depth of experience and sector knowledge, Dan’s expertise will be essential in continuing to support our clients through upcoming changes to the regulatory environment in these turbulent economic times. Congratulations Dan.”

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Crowe to reveal the major challenges facing UK manufacturing

The Outlook for Manufacturing in the UK will be revealed when national audit, tax, advisory and risk firm Crowe unveils its annual report on Tuesday 19 September.Crowe’s Head of Manufacturing Johnathan Dudley will be joined by Steve Morley, President of the Confederation of British Metalforming (CBM), to discuss what the future holds for British manufacturers.

Mr Dudley said: “We will reveal the results of our 2023 Outlook for Manufacturing survey and discuss the areas where businesses should focus their efforts to ensure ‘thrival’ during these challenging times.”

Steve Morley and Dudley will be outlining key findings contained in the manufacturing survey and highlighting issues such as importing, exporting, reshoring, energy and supply chains.

They will highlight how businesses can thrive in the current climate.

Morley said: “This event will be of immense value to those in the manufacturing sector who have an interest in or responsibility for business growth and planning.”

The event is being held at the NMC Venue, 47 Birmingham Road, West Bromwich, and runs from 08.00 registration and breakfast, followed by discussion and questions at 08.30 and closes at 09.30. For an invitation to this free event, call Nathan Sanghera on 0121 543 1900, or email nathan.sanghera@crowe.co.uk.

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About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organizations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk:

Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2022)
  • Top charity auditor for 14 consecutive years (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2022)
  • Awarded Silver in the 2022 Citywealth Brand Management and Reputation awards – Best Overall Marketing Campaign category for Your Life Builder
  • Awarded Silver in the 2022 Citywealth Magic Circle awards
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2022 for the fourth consecutive year (InsuranceERM)