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Cucina scores 100% retention rate and double-digit turnover growth

17 January 2017 by
Cucina scores 100% retention rate and double-digit turnover growth

School caterer Cucina has scored full marks with a 100% contract retention rate in 2015/16, as it enjoyed another year of double-digit turnover growth.

In the company's annual accounts, it recorded a 15% rise in turnover to nearly £12.5m for the year to 31 March 2016.

Pre-tax profit climbed nearly 14% to just under £710,000 for the year.

In a statement, owner and chief executive Steve Quinn said that the 11-year-old company now runs over 80% of its existing contracts either on a nil cost basis, or those contracts offer financial returns to their school partners.

In an environment where the government has made budget cuts to education and hospitality services are dwindling, Cucina's ability to offer contracts on those terms has assisted the company in ensuring a 100% retention rate for 2015/16.

It now has 47 contracts in total, and focuses on secondary schools and academies with over 1,200 pupils.

Meanwhile, Cucina's first venture into high street restaurants, the Oxford Kitchen, reached its third anniversary in December 2016. Sales are increasing each month and the business hopes that it will reach break-even soon.

In September 2015, Cucina announced a management restructure, which saw Quinn assume the role of chief executive, while Stuart Lenton was appointed as the new manging director.

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