BaxterStorey helps push parent company WSH past £800m mark
Strong sales and 40 new clients at BaxterStorey have helped turnover at parent company WSH to soar past the £800m mark for the first time.
WSH Investments, which counts BaxterStorey, Holroyd Howe, Caterlink, Benugo and Searcys among its operating companies, reported annual turnover of £828.1m for the year ended 29 December 2017.
This marked a 13.2% increase on 2016 (£731.5m), while pre-tax profit rose to £7.5m (2016: £5.8m), up 29.3%.
In accounts filed at Companies House, WSH chief financial officer Marc Bradley said: "Our positive trading performance combined with robust working capital management resulted in cash flow from operating activities increasing by 10%, allowing us to reinvest for further sustainable growth."
Business and industry caterer BaxterStorey, which accounts for more than half (55%) of WSH's revenue, posted annual turnover of £455m for the period, up 12.9% from £403m in 2016, while pre-tax profit saw a slight dip to £22.3m (2016: £23m).
Education catering brands Holroyd Howe and Caterlink as well as café-deli concept Benugo were also strong performers in 2017, increasing their own annual turnover by 22.4%, 16% and 22.4% respectively.
Restaurants Etc, the company co-founded by chef and restaurateur Mark Hix that WSH took over as part of a joint venture in April 2016, saw annual turnover rise from £9.4m (in 42 weeks of 2016) to £11.7m. The company's pre-tax loss of £1m fell further to £5m in 2017, which Bradley attributed to challenging trading conditions for the restaurant sector alongside a period of "operational realignment".
WSH as a whole employed an average of 16,270 people throughout the course of the year.
WSH was unavailable to comment further on the figures.
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