Zenith Hygiene results positive for half year trading
Independent manufacturer supplier and distributor of cleaning and hygiene products Zenith Hygiene Group has announced its half-year results for the 26 weeks ended 31 August 2016.
With revenue growth of 20.1% to £31.5m (H1 2016: £26.2m) and EBITDA up 29.1% to £2.68m (H1 2016: £2.08m), the company has seen significant growth in profits with Profit Before Tax up by 95.1% driven by improved efficiencies and scale.
The company has completed several acquisitions in the period, including Riverside Hygiene Supplies Limited, a local hygiene service provider, ABC Hygiene Limited, now rebranded as Zenith washroom solutions, and CCL Pentasol, providing the group with greater access to the food and beverage manufacturing sector as well as water treatment services, all acquired in June 2016 and Cater-Lyne Limited, a similar company based in Yorkshire, acquired in August 2016.
Lord Stanley Fink, chairman of Zenith Hygiene Group, said: "Zenith Hygiene continues to go from strength to strength. There have been some significant client wins during the period, including Strada, a chain of restaurants for whom we are providing hygiene solutions nationwide, Drakes & Morgan a London based bar and restaurant group, and Cucina, a contract catering company. The acquisitions we have made over the last six-month period will further cement our position as the partner of choice for our customers and target markets. The integration process is underway with many of the businesses integrated within the Zenith Hygiene portfolio of companies, contributing to the strength of the group. We have welcomed a number of new colleagues with strong expertise in core markets for us and we are very excited by the growth prospects ahead of us. We are confident that we will continue to deliver in line with the Board expectations in the second half of the year."
Ringo Francis, CEO of Zenith Hygiene Group, added: "I'm delighted to report another fruitful six months for Zenith Hygiene, in what can only be described as a challenging trading environment. Our results are testament that our strategy to put our customers at the heart of our business is clearly working. It further underpins the importance our customers place in the quality of our product and services offering, and the continued trust they have in Zenith's expertise.
"The sector we operate in is very fragmented and over the first half we have looked at opportunities to expand our offer through a number of bolt-on acquisitions which we believe complement our already very successful offer. These have already begun to bear fruit in contributing to our growth, and we are confident that we will be ahead of last year's numbers at the full year. Looking ahead, we will look to maintain sustained organic growth whilst complementing our current portfolio with strategic acquisitions as we see appropriate opportunities arise."
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