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Interim results for the six months ending 31 August published by Newry based global technology provider, First Derivatives show an 11% increase in revenue and a 9% increase in gross profit compared to the same period in 2018.
It's the first published results since their CEO and founder Brian Conlon tragically passed away in July.
Revenue for the Canal Quay based company was £116.7m compared to £105.6m for the same period last year while Gross Profit rose to £48m compared to £43.9m last year.
Software revenue is up 13% to £71.4m (H1 2019: £63.1m), driven by 19% growth in recurring software license revenue
Multiple contract wins across both software and managed services and consulting providing confidence in our outlook, including notable deals signed with a major Japanese bank for the global roll-out of a next generation e-FX platform built on Kx and multi-year assignments across our managed services and consulting business
Managed services and consulting revenue were also up 7% to £45.2m (H1 2019: £42.5m) with the company citing their long-term, strategic client relationships and market-leading services enabling continued growth.
Commenting on the results Seamus Keating, Executive Chairman of FD, said “We successfully executed on our strategy during the period, signing a number of key contracts across our business, and making strong progress towards securing landmark contracts in the markets we are targeting across Industry. We continue to progress our search for a new CEO following the passing in July of our founder, Brian Conlon, and we will provide an update when the process is complete.
"Our financial performance was solid, and we are encouraged by the growing momentum through the period that provides confidence in achieving another year of strong growth, in line with consensus forecasts"
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The Residential team at Best Property Services look at monthly sales trends to date, in which the shadow of Brexit uncertainty makes itself known in the last Quarter.
“The first half of the year started on a very positive note, with the number of homes sold in Newry, Warrenpoint, Rostrevor and surrounding areas increasing by some 25%,” reports Edwina Flynn, Operations Director.
“The number of units sold Jan-Jun was up by 28%, in comparison to 2018 figures with over 70% of properties listed having multiple bidders.
“The majority of houses we listed sold in excess of the guide price and our first half of the year performed well, with a turnover in excess of £ 10m,” Edwina adds.
The residential team report a degree of market uncertainty evident from July and continuing into September.
“There is uncertainty in decision making. In speaking with other agents in Ballynahinch, Banbridge, Castlewellan and Newtownards – this seems to be a common thread," Edwina said.
“That level of uncertainty will continue to be a factor in the market until the Brexit impasse is resolved, as people continue to defer major decisions - particularly financial ones – due to the lack of clarity on the impact in Northern Ireland.
“On a positive note, the rental market is showing strong demand with a shortage of houses to rent. There is a strong demand from first time buyers for new homes, and notably an increase of housing association properties becoming available,” Edwina adds.
With mid-term break almost over, the countdown to Christmas has begun.
“We tend to see a surge of traffic to the website between Christmas and mid-January. People have more free time and often get the opportunity to discuss buying or selling a house with family and friends. It’s an opportunity to reflect and re-evaluate what your family and home needs are for 2020,” Edwina concludes.
The sales team advise that December/January is a good time to list as it can capture the attention of those browsing in their down time. While there is traditionally a greater volume of buyers in Spring, this also means greater competition in terms of other competing sales if you plan to sell your property and buy a new home.
Preparing your property with a view to listing in the final quarter means you have greater exposure around that Christmas/New Year period, giving you better visibility in the marketplace.
If you are considering selling your home or would like some professional advice in preparing your home in advance of a potential sale, book your free property valuation today with the Best Property Services dedicated Residential Team, Tel 028 3026 6811.
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Joules are opening a new store in The Quays shopping centre, Newry in early December and are currently recruiting.
Established nearly three decades ago, Joules is a true premium lifestyle brand with an authentic heritage.
Joules design clothing, footwear and accessories for women, men, children and babies – whilst their homeware, toiletries, eyewear and other new collections are constantly expanding.
They are currently advertising vacancies for Store Manager, Assistant Manager, Supervisor and Sales Assistants.
All of these vacancies are advertised on their careers site https://careers.joules.com/
See and apply at their full list of vacancies including Newry ones at JOBS.JOBVITE.COM/JOULES
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Newry Chamber of Commerce & Trade have announced details of their 20th Annual Newry Business Charity Christmas Dinner taking place on Thursday 5 December from 5:30pm in the Canal Court Hotel & Spa, Newry.
This is one of the largest charitable Christmas dinner events in Northern Ireland and this year, the event celebrates its 20th anniversary with individual places priced at £60.00 + VAT. Alternatively, a table of 10 can be purchased for £600.00 + VAT.
Speaking at the launch, the Incoming Chamber President, Emma Marmion said “This is a fantastic annual event organised by the Newry business community in aid of local charities. Over the last 19 years, the Newry Business Charity Christmas Dinner has raised nearly £1.4m for local charities.”
“We are delighted to have the continued support of American Airlines for this year’s event and once again they will be supporting the event with their special Golden Ticket Prize Draw, where two business class return tickets to anywhere in mainland USA will be up for grabs.”
To be in with a chance of winning this amazing prize, please contact the Chamber office by email to: admin@newrychamber.com
or telephone 028 3025 0303 ext. 2
American Airlines Country Sales Manager for Ireland, Caitriona Toner said “American Airlines is proud to support local charities which are close to the hearts of our team members and customers. We would like to thank the event organisers, attendees and the charities themselves for their dedication and commitment to improving the lives of those in need across Northern Ireland.”
“American Airlines connects customers from Dublin through its Hubs in Philadelphia, Chicago, Charlotte and Dallas/Fort Worth to destinations across North America, Canada, Central America and the Caribbean. The new direct daily service from Dublin to Dallas/Fort Worth operates from May through to October 2020 on our Boeing 787-9 Dreamliner aircraft. American Airlines was recently awarded 5-star status by Skytrax following the recent multi-billion-dollar investment by American Airlines in its products and services.”
There is a limit of 100 Golden Tickets available to purchase at £100.00 per ticket. We would encourage the local business community to please give as generously as possible and purchase a Golden Ticket and in doing so, support so many worthy causes.
The event is a huge undertaking by a small organising committee of very dedicated members of the local business community.
Chair of the Organising Committee, Declan McChesney paid tribute to the support received from Newry businesses saying “Every year the local business community drives us to do more. This year, in our 20th year, we want to raise more money for local charities and collect more toys for local families. Our famous toy mountain is an unbelievable feature of the evening and we want it to be bigger and better than ever before. A highlight of the evening is always for deserving children and thanks to the support of the business community, this makes the evening special.”
A great night of entertainment is planned, this event is always a sold-out occasion so please ensure to book your place via NEWRYCHAMBER.COM
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A proposal that was due to once again go before the Newry, Mourne and Down District Council's Planning Committee this morning, Wednesday 13 November has been withdrawn from the committee following Department and legal advice.
Planners had recommended refusal for the proposed retail park at the former customs clearance station at Carbane Way. A decision was due to be made during the council's October Planning Committee meeting but it was deferred to today allow officers to visit the site.
The councils Planning Committee Agenda was updated this morning in connection with the application stating "Following a direction from the Department and legal advice this application has been withdrawn from the Committee."
It's not known at this stage where this leaves the Newry City Retail Park application.
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A unified approach is how Newry businesses will steer through the difficulties that lie ahead for the city’s high street.
Newry Business Improvement District Manager Eamonn Connolly, at the organisation’s AGM, said that the challenges presented by Brexit, out-of-town retail, online shopping trends and crippling business rates are best tackled as a group speaking with one voice.
Mr Connolly particularly welcomed news that the Newry BIDs objection to the imminent and very real threat of a new huge out-of-town retail development at Carnbane proved effective, in that the planning application has been set aside for now.
The application, which had been recommended for decline by local planners, was withdrawn from the agenda of the NMDDC planning meeting last week. Mr Connolly stated that the application may well resurface and that the BID will continue to oppose a development larger than Sprucefield which would fundamentally harm the centre of Newry.
The AGM marks BID’s third successful year in operation. Mr Connolly welcomed representatives from all city centre business sectors and outlined BID’s notable achievements in Year Three, as well as priorities for Year Four.
Some of the wins for Newry BID in the 18/19 financial year were the organisation of the Aston Martin Red Bull F1 event in Hill Street, in conjunction with First Derivatives, which saw thousands of people pack into the city centre for the day, the expansion of the TradFest and Iur Cinn Fleadh festivals, BID’s targeted online marketing campaigns and website traffic, and the 522 individuals and 140 businesses supported through free tailored training courses.
Mr Connolly briefed attendees about the importance of ongoing and lobbying, not least the current planning challenge at Carnbane. He confirmed that the BID would continue to lead in lobbying for Newry, particularly around efforts to reduce the challenges from parking and business rates.
He said the key to tackling issues affecting business is communication with members and effective lobbying on their behalf to raise Newry’s profile and trading environment. He said the purpose of Newry BID is to support and advocate for city centre businesses and stressed that members are welcome to make contact to explore how BID can help resolve difficulties and to continue creating a positive vision for the city.
Mr Connolly acknowledged that while much had been achieved, much more needed to be done to deal with the ever-increasing challenges to our high streets.
Mr Connolly welcomed new board members Graeme Finegan, Finegan and Sons, Orla Hayes and Louise Young, Canal Court, Rory Murphy, Jack Murphy Jewellers, Brendan Jackson, Newry Credit Union and landlord Eimear Cleland. Copies of Newry BID annual report are available to all BID member businesses.
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A local Newry sweet manufacturer supplying it's products to China is just one of many recent international success stories for businesses based in the city.
Newry’s Crilco Sweets has won a second major deal in China which will see it supply a range of boiled sweets to a new customer in Shanghai. The latest deal is the second significant business there in the past six months.
The new contract is valued at £250,000 and will see the company’s successful and extensive range of confectionery on sale across China especially in pick and mix outlets which are popular with customers there.
Crilco, which is based on Flagstaff Road is Ireland’s only manufacturer of quality boiled sweets and other confectionery. The family-owned and managed business has just invested in new production and wrapping machinery to enable it to increase substantially its output of sweets.
David Crilly, director of Crilco Sweets says the latest business in China followed its participation in a major European industry trade show. “We met representatives from our latest customer at ISM in Cologne, one of a number of confectionery business shows we attend every year including a hugely successful event in Shanghai. They were interested in our range and enjoyed the quality and flavours of our products and subsequently visited our plant in Newry for further discussions.
“As a result of these talks and a tour of the factory with the new high-speed production and the wrapping machinery, which enables sweets quickly and in large volumes, they placed two significant orders,” adds Mr Crilly.
The new business is a substantial boost for the ambitious and progressive as it seeks to grow business in China to around £1 million over the next 12 months. It means sweet lovers in China will enjoy boiled sweets long popular in Northern Ireland such as humbugs, rhubarb and custard, strawberry creams and liquorice. The company is supplying eight different confectionery lines to the new customer.
Mr Crilly continues: “We are investing substantially in productivity and marketing in key markets such as China where there are exciting opportunities for range of confectionery. It’s a market that requires commitment, speed of response and flexibility.
“Our investment in new machinery, which is being assisted by business development agency Invest NI, will be supported by the acquisition of new and much larger warehousing. This enables to us to exploit other opportunities we’ve pinpointed in China and other markets and to meet demands for greater volumes,” he adds
In addition to China, Crilly’s sells confectionery to leading retailers in Britain including discounter B&M and also exports to the Republic of Ireland, the US, Australia, Germany, Italy, France and the Czech Republic.
“The business there is the latest outcome of our extensive marketing campaign in global markets. In addition to a strong presence in Great Britain, we also sell to customers in the Republic of Ireland, the US, Australia, Germany, Italy, France and the Czech Republic from its factory in Newry.
The company, which was established in 1974, currently employs 22 people in Newry.
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Sean O’Connor, Co-Founder and Chief Commercial Officer, STATSports, delivered the keynote address at this year’s Newry Chamber of Commerce and Trade’s, Annual President’s Gala Banquet.
This year’s Banquet focused on the unique legacy being built in the city by companies like STATSports and the combined energy of the many local and global companies building an economic legacy for the region’s young people.
The Banquet, held in the Canal Court Hotel & Spa, was attended by more than 250 business and focused on the theme of Newry, A City for the Future
In his final speech before completing his two-year term as President of the Chamber, President Paul Convery said “As I reflect on my two years as President, it is our Chamber programmes that have built a strong connection between business and education which I have really seen develop and grow. If we are to fulfil our theme for this evening, Newry A City for Our Future, we must continue this momentum to provide a city for our young people.
“I am delighted to see that there are now numerous companies in the Greater Newry region who are building a legacy that will allow our children to deliver on their career ambitions not in Boston or Liverpool but right here.
“Companies like STATSports and the many successful businesses, large and small represented here tonight that are building a legacy for our young people.”
In an inspirational keynote address to local business leaders, Sean O’Connor, Co- Founder of STATSports, set out how two entrepreneurs took an idea and scaled it into a highly successful business.
His story was a real example of if you have the idea, the passion and the commitment to deliver, you can access the world’s markets from right here in Newry.
From small beginnings, StatsSports is now the leading provider of GPS player tracking and analysis solutions to the World’s leading sports franchises. From Man City and Juventus to many of the top teams in the recent Rugby World Cup, they are a truly global business operating from the heart of Newry.
Local man, Mark Crimmins, who is now the Head of Ulster Bank in Northern Ireland also spoke to local businesses, stressing the strong partnership between the Ulster Bank and local businesses.
Just over £2,700 was raised at the banquet for the Kevin Bell Repatriation Trust and the Southern Area Hospice Services.
Sponsors for the evening were the Canal Court Hotel & Spa and The Ulster Bank.
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