Zenith Hygiene Group reports six years of double-digit growth
Cleaning and hygiene specialists Zenith Hygiene Group has reported another double-digit year of growth that has been driven, says the company, by increasing demand for fully integrated hygiene solutions.
According to the results announced today, excluding acquisitions, revenues for the year were up 10% with adjusted EBITDA expected to be significantly ahead of last year by about 34%.
The company has completed three acquisitions in the past year: CCL Pentasol, in July 2016, a UK-based manufacturer and supplier of chemicals and water treatments; Cater-Lyne, in August 2016, a manufacturer and supplier of catering hygiene and cleaning products; and ABC Hygiene, in June 2016, a provider of washroom equipment, now re-branded as Zenith Washroom Solutions.
The company also had contract wins with the Restaurant Group, care home group HC-One and the Red Carnation Hotel Collection.
Ringo Francis, chief executive of Zenith Hygiene Group, added: "We are delighted to report today another record performance for the group - our seventh year of consecutive growth and sixth year of double-digit growth - both of which are huge milestones. The integration of the three acquisitions we made in 2016 is progressing as expected and is on-track to deliver the benefits envisaged at the time. We will continue to pursue our acquisition strategy while continuing to drive organic growth.
"I would like to thank all our colleagues for all their hard work and their contribution to delivering the success that we are reporting today.
"While there continues to be uncertainty following the UK's decision to leave the EU, we also see this as a significant opportunity to become the supplier of choice. A combination of significant investment in infrastructure and our solid business model means we're confident that we can mitigate any substantial price increases all while providing a fully integrated offer and economies of scale. The board remains confident we will continue to deliver this financial year."
