‘Strong’ year for catering company CH&CO

CH&CO chief executive, Bill Toner
01/10/2018 - 10:26
Catering company CH&CO is celebrating ‘another year of strong performance,’ after registering £240 million annual turnover for the year-end December 2017.

Its EBITDA reached £15.1 million (6%), while net increase in cash was also up £10.8 million.

With circa 50 new clients so far this year – equating to £115 million – the company’s retained business is worth £37 million in full contract term, and turnover is expected to be £300m.

Chief executive Bill Toner said: “2017 was a strong year for the company with good sales and retention performance. 

“The Harbour & Jones and Concerto Group businesses became part of CH&CO in 2017, and these integrations are going to plan and have added greater scale and coverage across the UK. 

“The merging of these two businesses into CH&CO has also strengthened our expertise across a broader range of sectors.

“Our adjusted operating profit for the year at £15.1m (6%) is in line with expectations and industry averages and while we are trading in uncertain times with the general economy and Brexit, our business is in a good position to respond to market changes going forward.

“Building on our new business success in 2017, our sales performance in 2018 has been incredibly buoyant and demonstrates that clients like our proposition and can see the benefits that we bring to the market. It has also been encouraging to see our retention rates continue to be strong.

“Looking forward, our recent rebranding has positioned CH&CO well for more growth and consolidated our expertise in the diverse sectors that we operate in. 

“We continue to be a food-focused and customer-centric business backed up by good, effective systems and team training and we’re very optimistic about the future.”

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