London-based specialist contract caterer, Vacherin, has reported its annual turnover has risen for the 15th consecutive year. Figures for the year ending 31 August 2017 show turnover at £19.7 million, a rise of almost 15 per cent.
According to Vacherin the year has been the “best” in its 15-year history for new business having gained eight new contracts which have a total annual turnover value in excess of £5 million. These contracts include the London Stock Exchange Group, Miller Insurance Services LLP, PSP Investments, Advent International, The Crown Estate, Regent’s University London and two co-working sites for London’s leading flexible office provider Workspace.
It is also the first full year with Phil Roker as managing director and the associated new structure has been a “great success” for the management team says the company, who have maintained not only the growth momentum but also the ethos and culture established since Vacherin’s conception by Mark Philpott and Clive Hetherington, who continue to oversee developments as principal shareholders.
Vacherin anticipates that next year’s turnover will increase by a further 20 per cent. In line with this growth, Vacherin has strengthened its senior management team in all areas with six appointments across operations, HR, accounts and business development.
Clive Hetherington, Owner and Finance Director said: “We are absolutely delighted with these results. Our policy has always been to employ in advance the resources required to manage increased business levels. As a result of this investment in resource our overhead costs increased as a percentage of turnover but other key performance measures such as contract and staff retention, turnover and cash generation remain very strong and overall the financial health of the business is very robust.”
Vacherin has recently won two further contracts to support law firm Cleary Gottlieb Steen & Hamilton and a well-known global media organisation.
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