Airedale Group posts huge £42m turnover

Recent projects such as The Commission have boosted Airedale’s financial results.Recent projects such as The Commission have boosted Airedale’s financial results.

The Airedale Group has recorded bumper results according to the latest publicly available accounts from Companies House.

The consolidated group, including Airedale Catering Equipment, Caterform Ltd and SCCUK, posted a £42m turnover in the 12 months until 31 December 2016.

This represents nearly 18% growth on 2015’s figure of £34.5m. Profit before taxation has performed a 180° switch too, with 2016’s result standing at £1.6m profit compared to a loss of £118,000 the year before.

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During the year, the group achieved growth of 20% benefiting from its national service network. However, gross profit margin figures slipped slightly from 26% to 24%.

Nevertheless, the firm feels that Ebitda is a more relevant measure for the business than bottom line profits, and for the group overall this was over £3m in 2016.

In the report, the directors stated: “The directors consider that the results for the year and the financial position at the end of the year are satisfactory. The group has a strong orderbook and pipeline and 2017 has started well in line with our expectations.”

CEO Rob Bywell told Catering Insight: “Our financial performance is as a direct result of the investment strategy of the business over the last 5 years. Every £1 earned is reinvested to support our long term growth ambitions, which will continue to be driven by a combination of organic and acquisitive activities.”

For the Airedale Catering Equipment division individually, the financial report was similarly healthy. A turnover of £28.7m for year ending 31 December 2016 marked a 28% increase on 2015’s £22.3m figures.

Profit before taxation was up from £1.1m in 2015 to £2.5m last year, and the gross profit margin also grew from 24% to 25%. The division had higher payroll costs during the year £570,000 more than the prior year) and had a higher orderbook and sales pipeline at 31 December 2016 than at 31 December 2015 as a consequence.

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