Vacherin has announced that in its second full year under a new management structure, turnover increased by 33% to £26.2m, exceeding company’s prediction of 20%.
The London-based hospitality specialist has added eight new contracts to its portfolio worth an annualised turnover of more than £2.6m.
Vacherin also recently invested in additional head office support to ensure continued high levels of customer service alongside its food quality. Towards the end of 2018, Dan Kelly, previously director of food, was promoted to deputy managing director of food and operations to further support the growth of the food-led company.
Operating profit growth kept pace with turnover growth due to Vacherin’s contract retention and despite a bad debt provision of £105,000 as a result of the failure of Carillion for whom the catering company operated one contract.
The company significantly invested in R&D this year, creating bespoke communications apps for both its customers and employees. The former enhances the customer experience by presenting them with the site specific range of food and beverage choices available to them and informs them of nutritional and allergen content. The employee app ensures that every team member is provided with information in a timely manner.
Phil Roker, owner and managing director, said: “We are thrilled with these results. The head office appointments we’ve made have enabled us to remain committed to our clients and core values, while benefiting from consistent growth. Our other key performance measures including contract and staff retention, turnover and cash generation remain extremely robust.”
The company’s financial year, which began again in September, began with the opening of two new contracts. The first was with the Royal College of Pathologists in Aldgate at a purpose-built new location and the second with a global advisory firm whose London team recently relocated to Victoria. The combined value of the contracts is £4m.