5 September 2019 | Herpreet Kaur Grewal
Catering group CH&CO has seen a 19 per cent increase to £286 million in its annual turnover, according to its accounts for the financial year ending 31 December 2018.
The results are in line with the previous year's projections.
The results show a £46 million increase in turnover from 2017 to 2018 and an increase in profits to £17.2m EBITDA, representing 6 per cent of turnover. In contrast to previous years, there was no merger and acquisition activity in 2018 but the integration of the 2017 mergers with Harbour & Jones and Concerto Group was completed.
Bill Toner, CEO of CH&CO, explains: "2018 was another strong year for CH&CO and all of the merger and acquisitions growth of previous years was successfully bedded in. We introduced a simplified group structure and undertook a complete rebranding to focus on seven core areas - workplaces, destinations, events, livery, venues, education and healthcare - and this was well-received by clients and team members alike.
"The performance of the company continues to be strong and we have a good track record of successfully growing our business through merging with like-minded companies.
"Economic uncertainty, particularly surrounding Brexit, continues to be a challenge for us and many of our clients, but we are a resilient company in a resilient industry and I am confident that we can weather any storms that may come our way."
During 2019, CH&CO merged its Scottish business with Stirling-based Inspire Catering, and last month bought Gather & Gather and Creativevents from Mitie. New equity partner Equistone Partners Europe has also joined the company.