Reading: CH&Co achieves record £152m in sales so far this year
Reading-based contract caterer CH&CO has achieved over £152 million in new sales and retained business to date in 2018.
The new sales across the UK, which represent £115m in full contract term value, are with nearly 50 new clients, and the retained business is worth £37m in full contract term value.
The announcement coincides with the latest results for CH&Co Catering Group (Holdings) Limited, lodged at Companies House this week, showing annual turnover reaching £240m in the year ending December 2017 and an EBITDA of £15.1m or 6%. Operating cash flows were strong, driving an overall net increase in cash of £10.8m across the Group. CH&CO’s projected turnover for 2018 is approaching £300m.
Bill Toner, chief executive of CH&CO, explained: “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 or 6% is in line with expectations and industry averages and whilst 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 us 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.”
