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Jerry Brand's Host makes first profit

19 May 2009 by
Jerry Brand's Host makes first profit

Jerry Brand's Host Contract Management has made its first annual profit since being set up more than four years ago.

Brand, who was the major shareholder in Russell & Brand and later went on to set up and subsequently sell restaurant chain Orange Balloon with chef Brian Turner, launched Host in 2004.

The company's recently-filed accounts for the year to 31 December 2008 at Companies House show Host delivered its first annual profit of £54,739 (2007: loss of £141,187).

Turnover for 2008 was £24.2m compared with £15.8m a year earlier and the company had 591 employees (2007: 466).

Brand said he believed the business has now entered "adulthood" and was well placed to prosper during the recession.

The accounts do not include figures for Caternet, the web-based management system co-developed and championed by Brand.

Caternet, which includes e-procurement and accounting software, was separated from Host's accountants last year and set up in its own right.

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By Chris Druce

E-mail your comments to Chris Druce here.

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