CH&CO has released its annual accounts for the financial year ending 31st December 2018 and they show a 19% increase in annual turnover to £286m, in line with the previous year’s projections. The latest results for CH&Co Catering Group (Holdings) Limited, lodged at Companies House this week, showed a £46m increase in turnover from 2017 to 2018 and an increase in profits to £17.2m earnings before interest, tax, depreciation and amortization, representing 6% 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, chief executive of CH&CO, said: “2018 was another strong year for CH&CO and all of the M&A 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 – which 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.”
Other successes for CH&CO in 2018 included the achievement of the Sustainable Restaurant Association’s top-level 3-Star rating, developing a Get into Work programme with the Prince’s Trust, and gaining ROSPA Gold accreditation again.