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CH&Co Group reveals first results post-merger

29 June 2016 by
CH&Co Group reveals first results post-merger

CH&Co Group has announced its first results since the merger of CH&Co Catering and Host Catermasters in June last year.

CH&Co Catering Group (Holdings), the overall holding company of the brands within CH&Co Group has recorded sales of £102.6m for the seven-month period from 1 June to 31 December 2015.

The firm also recorded EBITDA (excluding exceptional expenses) of £4.5m. As this is the first period of trading for the new group, there are no comparative figures.

The shorter accounting period is a result of bringing all companies within the group in line with a new calendar year-end.

Bill Toner, CEO of CH&Co Group said: "We're very pleased with these first results. The merger of CH&Co Catering Limited with Host Catermasters has allowed the enlarged group to target all sectors across the UK and Ireland, enabling it to succeed in this highly competitive industry.

"As expected, strategically and operationally, the merger has proven to be an excellent fit because both businesses are high quality caterers with the same client-focused culture and business ethos."

He said the businesses have continued to perform well with a number of new contract wins and a client retention rate in excess of 97%.

Toner added: "One year into our merger and the company is in a strong position. Our integration is largely complete, we have a new corporate headquarters with excellent facilities, we're investing significantly in the development of our people, and the brands within the company are retaining and winning new business. Despite the Referendum result and the market turmoil we are experiencing, we are well placed to build for the future."

The firm said staff turnover has "remained well within industry expected levels" post-merger.

CH&Co Group said it has maintained the historic gross margins of the underlying businesses and controlling administrative expenses.

In this first period of trading, the effects of the merger costs and non-cash intangibles amortisation resulted in a retained loss of £2.7m. Operating cash flows were reported as strong with an overall increase in cash of nearly £1.8m.

CH&Co Group's businesses include: Ampersand, Charlton House, Chester Boyd, Host & Catermasters Lusso, ITA*and Via 360.

The group employs nearly 5,000 people and operates at more than 450 locations across the UK and Ireland.

Andrew Atkinson joins CH&Co Group as head of procurement >>

CH&Co Group to launch training programme and chef academy >>

H&Co Group strengthens team with a number of appointments >>

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