Lord Zameer Choudrey CBE SI Pk, Chief Executive of Bestway Group, and Dawood Pervez, Managing Director of Bestway Wholesale, presented a cheque for £100,000 to The Duke of Edinburgh’s Award (DofE) at Bestway Group’s Head Office in Park Royal, London last week.
This significant contribution reflects Bestway's ongoing commitment to supporting impactful charitable initiatives that make a difference to the lives of young people across the UK. The presentation was attended by Ruth Marvel OBE, Chief Executive Officer, Laura Puddefoot-Knaggs, Head of Philanthropy and Clare Harris, Senior Relationships Manager from The Duke of Edinburgh’s Award, and Bestway Board of Directors, including Sir Anwar Pervez OBE H Pk, Chairman Bestway Group.
The £100,000 being donated to The Duke of Edinburgh’s Award was raised through Bestway’s annual Ascot Charity Race Day held in June this year (2024), which was attended by over 750 of Bestway’s key business contacts, supplier partners, colleagues, press and the charity. Each year the company hosts a charity race day at Ascot to raise funds for charity, an event that celebrated 31 years this year.
The Charity Race Day is one of Bestway Wholesale’s largest corporate events in the calendar, supported by supplier partners for over 30 years. Over 27 charities have benefited from funds raised through the event since it began in 1994, including The Duke of Edinburgh’s Award, widely recognised as the world’s leading youth achievement award.
Lord Choudrey explained why the business has chosen The Duke of Edinburgh’s Award as its charity partner this year:
“Charity is at the core of what we do at Bestway, and our annual Charity Race Day cements the ongoing work to such great organisations such as The Duke of Edinburgh’s Award by our family.
“We have worked with The Duke of Edinburgh’s Award for over 30 years and take great pride in the Gold Partner status we hold. During this time we have experienced first-hand the incredible work the charity does in preparing our young people for the future in whatever role they undertake.
“The Duke of Edinburgh’s Award inspires and empowers young people, supporting them as they learn new skills, overcome obstacles, whilst helping them build confidence and resilience. This charity ties in with our other efforts to recognise the importance of supporting initiatives that invest in the future of our youth.”
Bestway Foundation was established by Sir Anwar Pervez in 1987, as the charitable arm of the Bestway Group, with a philosophy to support less fortunate people through the advancement of education and healthcare. Since inception Bestway Foundation has donated more than £35m to charitable causes, including donations to charities, hospitals and schools as well as the funding of university scholarships. Bestway Group has donated more than £15 million to the Bestway Foundation in the UK.
Dawood Pervez, Managing Director of Bestway Wholesale, said: “We are delighted to support the work of The Duke of Edinburgh’s Award which has seen participation in the Award grow every year since inception. Millions of young people from across the UK in schools, community groups, young offender institutions and workplaces have had the opportunity to build resilience and gain lifelong belief in themselves through the DofE.
“Understanding that our donation will help young people to challenge themselves to attain standards of achievement and endeavour in a wide variety of active interests – to serve their communities, experience adventure and to develop and learn outside the classroom, really aligns with the values of The Bestway Foundation.”
“The Annual Ascot Charity Race Day is just one of the ways that Bestway Foundation gives back, and we are incredibly grateful to our supplier partners and colleagues for supporting this annual event and donating generously to ticket purchases, the Charity Auction and other fundraising activities.”
Alex McDowell, DofE Fundraising Director, commented on the donation:
“We are delighted to receive this incredibly generous donation to support the DofE’s vital work. The money raised will support the charity’s Resilience Fund which offers free DofE places, bursaries or additional support for marginalised young people facing barriers to participation including financial constraints, additional needs or caring responsibilities.
“The DofE equips young people with the skills, confidence, and self-belief to help them take on today’s toughest challenges. We want to ensure every young person has the chance to take part, no matter who they are or where they live. This generous donation will enable us to continue reaching more young people with a life-changing DofE.”
The Lord Choudrey concluded:
“Charity is at the core of what we do here at Bestway – we are extremely dedicated to our social responsibility and incredibly committed to giving back to the communities within which we operate.”
British plant-based ready meal maker Allplants has filed a notice of intention to appoint administrators, citing ongoing financial losses, stated recent reports.
Allplants, known as the UK’s largest vegan ready meal brand, has faced mounting losses over recent years. Filing the notice provides the company with a critical window to explore options to avoid liquidation, such as restructuring, refinancing, or negotiating a sale.
According to the founder and CEO Jonathan Petrides, Allplants is working closely with insolvency specialists Interpath Advisory to assess “all possible options for restructuring, refinancing, and ensuring the sustainability of Allplants".
The reports added that while the prospect of a buyer offers some hope, failure to finalise a deal would likely lead to the company’s remaining stock being sold off to pay creditors. The development underscores the challenges faced by plant-based food companies as they navigate a competitive and increasingly crowded market.
Allplants started off as a direct-to-consumer brand in 2016, made its retail debut in November 2022, listing its meals at Planet Organic and several independent stores, as well as online grocer Ocado. It witnessed instant success, selling six million meals within the first three months and becoming the second-most purchased frozen meal brand on the latter platform.
Allplants has raised £67m across several financing rounds from investors including Molten Ventures, Felix Capital, Octopus Ventures, The Craftery, and professional footballers Chris Smalling and Kieran Gibbs.
Allplants’s move to appoint administrators is indicative of the distressed vegan ready meal category in the UK. It was among the categories that have witnessed a drop-off in sales recently, falling by 20 per cent between 2022 and 2023, according to Circana data commissioned by the Good Food Institute, which attributed it to cost-of-living pressures that led shoppers to cut back on non-essential and convenience items.
The country’s largest meat-free company, Quorn, posted pre-tax losses of £63m in 2023, a fourfold increase from the £15m it lost the year before. Meatless Farm and VBites also came close to the brink, before being rescued by VFC (now the Vegan Food Group) and owner Heather Mills, respectively.
Entrepreneur and businessperson Stanley Morrice, an influential figure in the retail and wholesale sectors, received an Honorary Doctorate from the University of Stirling at Stirling’s winter graduation held today (22).
Stanley, from Fraserburgh, is being recognised for his services to Scottish food, drink and agriculture. He entered the sector as a school leaver. In 1993, he joined Aberdeen-based convenience stores Aberness Foods, which traded as Mace. He rose to become Sales Director, boosting income by 50 per cent and tripling profits, and went on to be Managing Director, successfully leading the business through a strategic sale to supermarket group Somerfield.
Throughout a stellar business career, Stanley has set up, led, managed and sold more than 100 companies, from retail, wholesale and property to coaching and mentoring firms, in the UK and internationally.
An MBA graduate in retailing and wholesaling from the University of Stirling and Chair of the University of Stirling Management School’s International Advisory Board, Stanley was recognised with an MBE in 2022 for his work to support sustainable food and drink production in north-east Scotland.
Collecting his degree along with more than 300 other graduates at Friday morning’s ceremony, Stanley said, “I am deeply honoured to receive this recognition from the University of Stirling, where I completed my MBA in 1998. The University has played a pivotal role in shaping my career, and it has been a privilege to serve as Chair of the International Advisory Board at Stirling Management School since early 2020.
“This honorary degree reflects the University's commitment to cultivating industry partnerships and its dedication to preparing students for success in the business world. I was grateful for the opportunity to contribute to Stirling's mission of fostering innovation and developing future leaders.”
Professor Sir Gerry McCormac, Principal and Vice-Chancellor of the University of Stirling, said: “We are delighted to be awarding an Honorary Doctorate to Stanley Morrice, who has been an influential and exemplary figure in business and entrepreneurship, and in his advisory role at the University of Stirling. We know Stanley’s accomplishments, impact and leadership will be an inspiration to those graduating alongside him this week.”
In total, more than 1,000 students will graduate from the University of Stirling this week. Three ceremonies are being held across two days (21 – 22 November) as students celebrate their academic achievements alongside their families, friends and University staff.
British consumers have turned less pessimistic following the government's first budget and the US presidential election and they are showing more appetite for spending in the run-up to Christmas, according to a new survey.
The GfK Consumer Confidence Index, the longest-running measure of British consumer sentiment, rose to -18 in November, its highest since August and up from -21 in October which was its lowest since March.
Economists polled by Reuters had expected a deterioration in the confidence indicator to -22. Neil Bellamy, GfK's consumer insights director, said consumers seemed to have moved past their nervousness in the run-up to the 30 October budget and the 4 November US elections.
Finance minister Rachel Reeves announced a big increase in taxes on 30 October but the burden fell mostly on businesses rather than individuals.
Bellamy said it was too soon to say a corner had been turned. "As recent data shows, inflation has yet to be tamed, people are still feeling acute cost-of-living pressures, and it will take time for the UK's new government to deliver on its promise of 'change'," he said.
All five of the five components of the GfK's survey rose this month, led by a gauge of shoppers' willingness to make expensive purchases which rose five point to -16.
The survey was conducted between 30 October and 15 November and was based on the responses of 2,001 people.
GfK’s survey reported modest improvements in consumer measures of their personal finances and the general economic situation over the next 12 months. The figures clash with a separate survey of 1,500 households which showed growing pessimism over job security, according to S&P Intelligence.
“Consumer confidence continues to be variable but ability to spend depends on household circumstance,” Linda Ellett, UK head of consumer and retail at KPMG, said. “Inflation and interest rates having not yet sufficiently fallen and a toughening labour market are all weighing on the minds of many people.”
The government announced a £20 billion rise in employer national insurance contributions at the budget, as part of its promise not to hit “working people” with extra levies. Labour has also cut back on winter fuel payments for all pensioners, and said it will boost pay for public sector workers this year.
British retail sales fell by much more than expected in October, according to official data that added to other signs of a loss of momentum in the economy in the run-up to the first budget of prime minister Keir Starmer's new government.
The Office for National Statistics (ONS) said sales volumes have fallen by 0.7 per cent in October. A Reuters poll of economists had forecast a monthly fall of 0.3 per cent in sales volumes from September.
The drop was the sharpest since June when sales fell by 1.0 per cent from May. A monthly rise in sales in September was also revised down to 0.1 per cent from a previous estimate of a 0.3 per cent gain.
The ONS said retailers across the board reported that consumers held back on spending ahead of the new government's first tax and spending budget on 30 October.
It also said a possible contributor to the weakness in sales were the school half-term holidays for England and Wales which typically fall within the October data reporting period but did not this year.
Sales of clothing were particularly weak in October, something reflected in previously released figures for the month from the British Retail Consortium, representing the industry, which linked the fall to weather that was warmer than usual.
The ONS said during the 12 months to October, sales volumes rose by 2.4 per cent, slowing from September's 3.2 per cent rise and weaker than the median forecast in the Reuters poll for a 3.4 per cent increase.
Slow start to Golden Quarter
Jacqui Baker, head of retail at RSM UK and chair of ICAEW’s Retail Group, described the figures as a “concerning start to the Golden Quarter” - the busiest period for retailers.
“With half-term falling later this year and relatively mild weather, consumers have put off buying their winter coats and boots. This has made it difficult for retailers to shift stock,” she said. Many shoppers appear to be holding out for Black Friday deals, which Baker predicts will lift sales throughout November.
Baker noted that despite a challenging October, there is hope for a recovery in the months ahead.
“The Budget didn’t deal a huge blow to consumers in the form of tax rises, plus interest rates continue to come down, and the American election is now out of the way, which should help with confidence and create a clear runway for Christmas spending,” she said.
Thomas Pugh, an economist at RSM UK, echoed these concerns, pointing to the timing of the school half-term as a significant factor in October's sales slump. However, he expressed optimism about the longer-term outlook, predicting that retail sales would grow through 2025 as “higher consumer incomes and rising consumer confidence … feed through into higher spending volumes.”
He added: “While headline inflation jumped from 1.7 per cent in September to 2.2 per cent in October, retail prices fell at an accelerated rate. Indeed, retail inflation dropped from -1.3 per cent to -1.6 per cent, meaning lower prices will help a rise in spending feed through into bigger increases in sales volumes.”
Silvia Rindone, EY UK&I Retail Lead, highlighted consumer caution as another key factor behind the October decline.
“The decline in sales volumes can be attributed to a decrease in consumer confidence, influenced by several factors including uncertainty surrounding the Autumn Statement, rising energy bills, and the impending costs of Christmas,” she commented.
EY’s latest Holiday Shopping survey revealed that nearly half of consumers began their festive shopping before November, aiming to spread out holiday expenses.
Rindone warned that retailers face a challenging period ahead, with upcoming labour cost increases, including changes to National Insurance and a minimum wage hike set for April 2025.
“The next few months are critical… Retailers will need to ensure they drive margin this Golden Quarter so that investments can be made in their proposition,” she said.
“As our survey found, shoppers are willing to spend if the price is right and the proposition is strong. Continuing to operate as efficiently as possible while steadily improving the experience for customers will be key. Much like the last few years, the market is getting tougher, and only those able to continually evolve will thrive.”
Shareholders in food and drink giants such as PepsiCo, Coca-Cola and Mondelez are among a group of investors calling on the sector to be more transparent about the healthiness of its sales as a first step towards taking accountability for its significant impact on public health, in a move coordinated by responsible investment NGO ShareAction, the NGO stated.
The investors include Legal & General Investment Management, Pictet Asset Management, Nest, and CCLA, who collectively manage £2.34trn in assets. In a letter delivered today (21) to the chief executives of PepsiCo, Coca-Cola, Mondelēz, Kraft Heinz, Kellanova, and General Mills, investors have called on the companies to follow the likes of Unilever and Danone in adopting internationally-accepted nutrition standards for publicly reporting the healthiness of their sales.
The investors have raised concerns that an over-reliance on sales of less healthy products leads to poor diets and sicker societies, which they claim harms economic productivity and threatens long-term business success and financial returns. The investors added that a lack of transparency hinders their ability to fully assess risks and opportunities.
“We believe that health is a systemic risk that affects the whole economy,” said Tom Sanders, Senior ESG Analyst at Nest. “The increased consumption of unhealthy products harms public health and could reduce worker productivity, creating externalities that can impact our long-term investment returns as a globally diversified investor. Food and drink companies must take responsibility in helping manage these risks by being more transparent, using internationally recognised nutrition standards as an important first step.”
The move comes amid an increasing focus by governments and consumers on the food and drink sector’s reliance on sales of foods that are high in fat, salt and sugar. Around one in eight people globally are living with obesity, including millions of children, which is projected to cost the global economy more than £3.34trn a year by 2035.
Thomas Abrams, Co-Head of Health at ShareAction, said: “It’s really encouraging to see the momentum building among the investment community to hold the food and drink sector to account for its impact on public health. By adopting a responsible investment approach to public health investors can not only manage financial risks but also help more people to enjoy healthier lives for longer.”
ShareAction and the investors are asking the food and drink companies to commit to adopting one or more of the internationally accepted Nutrient Profiling Models used to define healthy food, rather than their own in-house versions.