Latest news with #Vitality
Business Wire
11-06-2025
- Business
- Business Wire
Mitsubishi HC Capital UK PLC (Trading as Novuna) Reports Profits of £120.6M With Record New Business Volumes
LONDON--(BUSINESS WIRE)-- Commenting on these results, Robert Gordon, CEO of Mitsubishi HC Capital UK PLC, said: 'Despite the headwinds of the past year, Mitsubishi HC Capital UK PLC has delivered a strong and resilient performance. Our unwavering focus on delivering value-added products and exceptional service across both commercial and consumer markets has driven record levels of new business, while also deepening relationships with existing customers. 'Through strategic investments in our people and technology, and by exiting underperforming European branch operations, we have strengthened our operational efficiency and upheld a high-quality portfolio. With margin pressures easing and a growing, diverse funding base, the Group is well-positioned for sustainable, long-term growth. Winning and retaining customers will continue to be at the heart of our success.' Group profits and record new business volumes Mitsubishi HC Capital UK PLC, trading as Novuna in the UK, revealed record levels of new business with pre-tax profits on continuing operations of £120.6m, with net earning assets reaching £8.6bn. New business reached £4.65bn, a 6.3% increase on the prior year, winning some of the UK's largest contracts including Vitality, Specsavers, Royal Mail and Schneider Electric. The Group, a top ten provider of consumer, vehicle and asset finance with over 1.3 million customers, maintained a high-quality portfolio across commercial and consumer sectors, with bad debt at just 0.32% of total assets - only marginally higher than last year from rigorous credit underwriting and improved affordability assessments. Mitsubishi HC Capital UK PLC diversified its capital funding sources with public issues in Asia, the UK and Europe during 2024/25, attracting new funders. Each business division across the UK and Europe returned pre-tax profits during the year with a total of £9.4bn of assets under management. Novuna Consumer Finance As a top 10 provider of retail point of sale finance and personal lending through its loan channel Novuna Personal Finance, it posted an annual pre-tax profit of £38.9m, up £9.5m on the previous financial year. New business volumes grew by 8.0% on the prior year up to £2.5 billion, coupled with the recovery of new business margins during 2024/25. It welcomed 600+ new retail partners, including Vitality and Specsavers, while expanding non-brokered credit solutions through its membership and annual fee renewal credit facilities for golf clubs, football clubs and independent schools. Novuna Vehicle Solutions The sixth largest leasing company in the UK expanded its fleet during 2024/25 from 109,000 to over 113,000 vehicles. Fleet value grew by 8.9% YoY to £2.1bn, with the business advancing customers' sustainability goals through end-to-end, fuel agnostic decarbonisation solutions. Delivering tailored solutions to customers including Amey, Centrica, Network Rail and Kier and new customer wins including Royal Mail and Schneider Electric, it saw new business volumes rise by 4.2%, from £848.2m to £884.1m. MHC Mobility The European leasing subsidiary of Mitsubishi HC Capital UK PLC, which operates across seven European countries, exceeded expectations in the Netherlands and Germany, recording a pre-tax profit on continuing operations of £15.8m. Pre-tax losses of £11.5m were recognised in relation to discontinued operations in Czech Republic, Slovakia, and Hungary. During the year, MHC Mobility Benelux expanded into Luxembourg, strengthening its presence in the region alongside existing operations in Belgium and the Netherlands as Net earning assets grew across MHC Mobility by 6.6% from £749.1m to £798.6m. Novuna Business Finance As the UK's largest non-bank asset finance provider serving SMEs and larger corporations, it achieved a profit before tax of £22.9m. New business volumes grew by 7.2% up to £760.7m, driven by a 20% increase in Commercial Broker business together with an 8.9% increase in direct routes to market. The core proposition of supporting UK SMEs to develop and grow was delivered through a 6.7% portfolio growth to £1.9 billion. Stocking facilities nearly reached a £300m milestone and sustainable project finance, the fastest growing new channel, surpassed £100m balances outstanding. Novuna Business Cash Flow The business unit, providing cash flow finance solutions to businesses of all sizes across several sectors in the UK, achieved a pre-tax profit of £1.8m in 2024/25 with a 4.8% increase in its net earning assets up to £136.6m. Large corporate clients represented over half of the portfolio for the first time. This growth, coupled with diversification of its revenue streams led to a strong performance with the business offering more comprehensive cash flow solutions. European Vendor Finance The provider of tailored vendor finance for specialist assets generated pre-tax profits of £1.1m, up from £0.5m last year. New business volumes increased by £7.2m, reaching £129.8m, achieved through a focus on key group and global accounts. Expanded geographic presence into Iceland, now transacting across 25 countries, with 52% of net earning assets in Europe, up by 6% YoY. Financial Results Mitsubishi HC Capital UK PLC's full annual report for FY 24/25 can be found at: Notes to Editors: The figures above represent continuing operations. The prior year comparatives have been re-presented to exclude discontinued operations. The loss after tax on discontinued operations was £10.3m (2024: £8.4m). About Mitsubishi HC Capital UK PLC Mitsubishi HC Capital UK PLC is a leading UK based financial services company, authorised and regulated by the Financial Conduct Authority (FCA). We have over 2,300 employees, £8.6bn of Net Earning Assets and over 1.3 million customers across our business divisions and subsidiaries: Consumer Finance, Vehicle Solutions, MHC Mobility, Business Finance, Business Cash Flow, and European Vendor Finance providing innovative finance solutions to enable consumers and businesses to grow and prosper. We are a wholly owned subsidiary of Mitsubishi HC Capital Inc., strengthening our relationship with one of the world's largest and most diversified financial groups, with over 11trn yen (£57bn) of assets.
Mint
08-06-2025
- Sport
- Mint
Team India begins training camp in Jaipur for historic mixed disability T20I series in England
Jaipur (Rajasthan) [India], June 8 (ANI): The Indian Men's Mixed Disability Cricket Team commenced its preparatory training camp in Jaipur on Sunday ahead of their seven-match T20I series against England, which begins on June 21. The Mixed Disability Vitality T20I series will begin on June 21, 2025, in Taunton at 6:30 PM, followed by the second T20I on June 23 in Wormsley at 5:00 PM. The series concludes with the seventh T20I on July 3 at 6:30 PM in Bristol. As part of the training camp in Jaipur, the players will engage in intensive batting and bowling drills in the nets, honing their techniques and match awareness. Coaches, including Head Coach Rohit Jhalani, will guide the players to help them prepare for the challenges. Organised by the Differently Abled Cricket Council of India (DCCI), the camp is being held at the Jaipuria Cricket Academy from June 8 to 13. All selected players have arrived in Jaipur and are undergoing intensive sessions focused on physical fitness, match preparedness, and team synergy under the guidance of experienced coaches. Speaking on the sidelines of the training camp, head coach Rohit Jhalani said, as quoted by the DCCI press release, "This training camp is crucial for our preparations. The players are focused, determined, and ready to represent India against England in the series." DCCI General Secretary Ravikant Chauhan said, "We are looking forward to the England tour. We are proud to see our team take the field in England, and we will leave no stone unturned here in the preparatory camp to prepare for the series." During the series, select matches will be played as Double Headers alongside key fixtures in England's mainstream cricket calendar. The 6th T20I on Tuesday, 1 July in Bristol will share the stage with the England Women vs India Women international-- broadcast live on Sky Sports. This moment affirms a powerful message of visibility, parity, and respect for athletes with disabilities. Ravindra Gopinath Sante (Captain) (PD), Virender Singh (Vice-Captain) (Deaf), Radhika Prasad (PD), Rajesh Irappa Kannur (PD), Yogendra Singh (Wicket-Keeper), Narendra Mangore (PD), Vikrant Ravindra Keni (PD), Sai Akash (Deaf), Umar Ashraf (Deaf), Sanju Sharma (Deaf), Abhishek Singh (Deaf), Vivek Kumar (Deaf), Vikas Ganeshkumar (ID), Praveen Nailwal (ID), Rishabh Jain (ID), Tarun (ID), Majid Magray (PD) (Reserve), Kuldeep Singh (Deaf) (Reserve), Krishna Gowda (Deaf) (Reserve), Jithendra Nagaraju (PD) (Reserve) Mixed Disability Vitality IT20 Series - Schedule: * Saturday, June 21 - 1st IT20 - Taunton, 6:30 PM* Monday, June 23 - 2nd IT20 - Wormsley, 5:00 PM* Wednesday, June 25 - 3rd IT20 - Lord's, 3:30 PM* Friday, June 27 - 4th IT20 - Worcester, 5:00 PM* Sunday, June 29 - 5th IT20 - Worcester, 2:30 PM* Tuesday, July 1 - 6th IT20 - Bristol, 2:00 PM (Double Header)* Thursday, July 3 - 7th IT20 - Bristol, 6:30 PM. (ANI)
Telegraph
03-06-2025
- Business
- Telegraph
How ‘Britain's most generous loyalty scheme' came unstuck
When Nick Thomas and his wife took out a health and life insurance policy with Vitality four years ago, like millions of others they were drawn to the generous rewards scheme. Unlike a traditional rewards programme where repeated spending eventually leads to a perk, Vitality rewarded members for having healthy lifestyle habits. Walking 7,000 steps a day, going to the gym or completing a Parkrun all earned points offering lucrative rewards for Thomas and his family such as free cinema tickets, an Amazon Prime membership and bags of Caffe Nero coffee. The scheme was a success on both sides. For Vitality, healthier customers claimed less while members benefited from better health and significant savings in the form of numerous perks. Thomas, like countless other members The Telegraph has spoken to, has nothing but praise for Vitality. 'It's been brilliant. I've encouraged other people to sign up because I've been so impressed with it all.' But all of that changed last month when Vitality decided to 'level up' its reward programme. Rather than earning rewards solely for healthy lifestyle choices, the insurance provider introduced a game whereby members would have to find a cartoon dachshund called 'Stanley' hidden behind 16 bushes. The monthly rewards they now earn are dependent on how many 'Stanleys' they find. The disapproval among Vitality's 1.9 million members has been swift. Online message boards reveal an avalanche of complaints about the 'silly game'. Facebook groups show members venting their frustrations and trying to share tips about how to find the hidden dogs. Criticisms range from members saying they feel infantilised to more serious accusations that the game amounts to a form of gambling, and is at odds with the company's aim to reward 'being active, eating healthily and maintaining good mental health'. Vitality strongly disputes the allegation that it amounts to gambling, as members do not stake money while playing. Martyn James, a consumer expert, says while it is not a form of gambling, it is part of a growing trend of 'gamification' – the process of using gameplay to make tasks more attractive and encourage engagement. He says: 'Unless Vitality can demonstrate that the odds show that people are getting the same amount of rewards then it's a smokescreen to hide the fact that benefits have been removed. 'That's before you consider the juvenile factor. It's fine if you are younger and don't mind hunting for a cartoon dog but as a grown adult, I find that quite patronising. I don't mind spinning a wheel every now and then, but you have to question what purpose does this serve?'
Telegraph
03-06-2025
- Business
- Telegraph
How Britain's most generous rewards scheme fell apart
When Nick Thomas and his wife took out a health and life insurance policy with Vitality four years ago, like millions of others they were drawn to the generous rewards scheme. Unlike a traditional rewards programme where repeated spending eventually leads to a perk, Vitality rewarded members for having healthy lifestyle habits. Walking 7,000 steps a day, going to the gym or completing a Parkrun all earned points offering lucrative rewards for Thomas and his family such as free cinema tickets, an Amazon Prime membership and bags of Caffe Nero coffee. The scheme was a success on both sides. For Vitality, healthier customers claimed less while members benefited from better health and significant savings in the form of numerous perks. Thomas, like countless other members The Telegraph has spoken to, has nothing but praise for Vitality. 'It's been brilliant. I've encouraged other people to sign up because I've been so impressed with it all.' But all of that changed last month when Vitality decided to 'level up' its reward programme. Rather than earning rewards solely for healthy lifestyle choices, the insurance provider introduced a game whereby members would have to find a cartoon dachshund called 'Stanley' hidden behind 16 bushes. The monthly rewards they now earn are dependent on how many 'Stanleys' they find. The disapproval among Vitality's 1.9 million members has been swift. Online message boards reveal an avalanche of complaints about the 'silly game'. Facebook groups show members venting their frustrations and trying to share tips about how to find the hidden dogs. Criticisms range from members saying they feel infantilised to more serious accusations that the game amounts to a form of gambling, and is at odds with the company's aim to reward 'being active, eating healthily and maintaining good mental health'. Vitality strongly disputes the allegation that it amounts to gambling, as members do not stake money while playing. Martyn James, a consumer expert, says while it is not a form of gambling, it is part of a growing trend of 'gamification' – the process of using gameplay to make tasks more attractive and encourage engagement. He says: 'Unless Vitality can demonstrate that the odds show that people are getting the same amount of rewards then it's a smokescreen to hide the fact that benefits have been removed. 'That's before you consider the juvenile factor. It's fine if you are younger and don't mind hunting for a cartoon dog but as a grown adult, I find that quite patronising. I don't mind spinning a wheel every now and then, but you have to question what purpose does this serve?' The Telegraph is aware of numerous members who have written to Vitality to complain, but so far the company has shown no signs of reverting the changes in responses to these letters. Thomas is one such member who has flagged his concerns with Vitality. 'I wondered if it was just me who was getting annoyed but looking online, I thought thank goodness it's not just me. 'My wife and I joined after we sat down with a financial adviser and we were drawn in by a policy that rewarded healthy living. That's why a lot of people join it. 'But with this they have created a childish game which is completely based on luck. There is an unfairness to it all. I can earn 160 points in a month [the maximum] and end up with fewer rewards than someone who has earned 48 points. 'I'd love for them to be transparent. If they need to cut costs and therefore reduce the number of benefits, just be open about that. Equally, if they need to increase costs because of the level of benefits, it's best to be open and transparent with members rather than doing [this] which annoys people.' The changes to the reward programme are complex. Previously, members were able to earn up to 160 points in a month with weekly and monthly rewards available. For example, if members earned 12 points a week, which could be achieved by walking more than 7,000 steps for four days, they could redeem a drink of their choice at Caffe Nero. For 12 points, they could also enjoy a weekly film rental from Rakuten. Earning 48 points in a month unlocked a free cinema ticket at Odeon or Vue, and until January 2024, reaching 160 points every month gave you a free Amazon Prime membership. Under the new system, some health-based points rewards remain. Earning 12 points in a week can be transferred for either a free Caffe Nero drink and 25pc off Itsu food or 50pc off a cinema ticket. But rather than incentivising members to earn as close to the maximum number of points as possible in a month to reach the best rewards, these are all now linked to playing a computer game where luck determines what prizes you earn. As long as a member earns 12 points each week out of a maximum of 40, they are entered into the game where they are shown 16 square tiles known as 'bushes' – behind four of which is a dog. When members open the game, the first bush shakes to reveal where the first dog is hidden. It then leaves members with three chances to find three dogs hidden behind 15 bushes. At the end of the month, if a member finds four dogs, they earn one reward, if they find eight dogs, they earn two prizes and if they find 10 dogs, they earn the maximum of three prizes. David Rowe, a programme manager from Hertfordshire, has reluctantly played the game each week. However, both last month and this month, he has found seven dogs, leaving him one short of collecting two prizes. Márton Balázs, a probability professor at Bristol University, explains there is a good reason why members like Rowe keep falling short of earning two prizes. Balázs has calculated that assuming a member played the game four times in a month and they always find the first dog which the game prompts, they have only got a 13.4pc chance of finding eight dogs. To earn three rewards, equivalent to finding 10 dogs, the odds of winning are even smaller at 0.96pc – giving members a one in 103 chance of winning the maximum prize, although Vitality strongly refutes these calculations. Rowe added: 'I looked up the chances of finding all four dogs and you've got a one in 455 chance. You are almost five times more likely to match three numbers in the National Lottery than find all four dogs in a week on this game,' he says. Rowe, who has been a member for the past eight years and pays £600 annually for his policy, is considering leaving. 'My policy is up for renewal in September. I will investigate changing and see what else is out there. If I can get an insurance policy that is half the price of what I am paying now, I'd think, 'Why would I not do that because that money I'm saving I can just spend on cinema tickets or an Itsu meal instead?'.' Thomas and his wife are also considering the value of their £1,460 annual bill, but he is hopeful that Vitality might yet listen to the rising anger of members. 'I've never questioned leaving before but if things haven't changed by August or September, then I think we'll go elsewhere'. A Vitality spokesman said the scheme continued to offer 'significant value' to consumers. Nick Read, managing director, said: 'The update to the Vitality Programme ensures more customers are taking steps to improve their health, with over 53,000 additional members now more physically active than they previously were. 'The impact of this is transformational – many more people will live in better health for longer. It also continues to offer significant value, over and above the market-leading health and life insurance we provide.'
Yahoo
02-06-2025
- Business
- Yahoo
VITALITY ANNOUNCES FOURTH QUARTER AND YEAR END RESULTS
TSXV Trading Symbol: VPI VANCOUVER, BC, June 2, 2025 /CNW/ - Vitality Products Inc. (TSXV: VPI) (the "Company" or "Vitality"), a manufacturer, marketer and distributor of premium vitamins and supplements, is pleased to report its financial results for the fourth quarter and the fiscal year ending January 31, 2025 and highlights: 37% sales increase in Q4 72% gross margin in Q4 46% decrease in annual net loss and 62% decrease in Q4 net loss Sales of the Company's premium natural health products for the three months ended January 31, 2025 increased 37% to $235,278 (2024 - $171,704). The Company's gross margin on its sales for the three months ended January 31, 2025 was $170,314 or 72% of sales (2024 - $125,794 or 73% of sales) as the Company continues to have strong gross margins due to the uniqueness of its natural health products. The financial results of the Company for the three months ended January 31, 2025 show a net loss of $11,388 or $0.00 per share compared to a net loss of $30,020 or $0.00 per share for the same period last year. The Company's general selling expenses for the three months ended January 31, 2025 increased to $35,799 (2024 - $29,932). The Company's general and administrative expenses for the three months ended January 31, 2025 increased to $142,320 (2024 - $123,683). The Company is focused on expanding distribution and growing sales in Canada and the United States while maintaining its overall operating efficiencies. The financial results of the Company for its year ended January 31, 2025 show a net loss of $146,063 or $0.00 per share compared to a net loss of $269,038 or $0.01 per share for the same period last year. Sales for the year ended January 31, 2025 increased 1% to $792,773 (2024 - $787,223). The Company's general selling expenses for the year ended January 31, 2025 decreased to $124,399 (2024 - $197,964). The Company's general and administrative expenses for the year ended January 31, 2025 decreased to $578,830 (2024 - $626,392). The Company continues to evaluate, research and develop new products for future distribution including exploring new markets for its products. Management has explored multiple business opportunities for international sales, potential acquisition or mergers with similar businesses including AI, digital health applications, and product lines. Management continues to look at opportunities to grow the business. More information about the Company is available on and The Company's audited financial statements and management's discussion and analysis for the years ended January 31, 2025 and 2024 are available on SEDAR+ at About Vitality VITALITY® is an award-winning line of clean vitamins and supplements, marketed to natural health retailers and health and wellness conscious consumers. Manufactured in Canada and currently sold in natural health stores and online, the products are non-GMO and third party tested for quality. Following the proven success of the line through repeat orders and same store sales growth, the Company is focused on expanding distribution and growing sales in-store and online; evaluating, researching and developing new products for future distribution; and exploring new markets for its products. To view our products, visit: On behalf of the Board ofVITALITY PRODUCTS INC. "Cheryl A. Grant" (signed) __________________________________ Cheryl A. Grant, President & CEO Forward-Looking Information Information set forth in this news release involves forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and except as required by law, the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements. THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. SOURCE Vitality Products Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
