The C&C Group has performed very strongly for the year ending 30 April 2018, according to its latest publicly-available financial report on Companies House.
Turnover was up by a massive 40% from 2016-2017’s £12.6m to £17.7m, its highest recorded revenue, for the latest accounting period. This includes a 33% increase of income from its subsidiary companies, C&C Catering Engineers and C&C Fabrications, collectively accruing £3.5m of the turnover total, up from last year’s £2.6m.
The group also has a strong net asset position in excess of £3.2m, which is a significant increase on last year’s £2.7m.
However, operating profit slightly reduced, from £1.4m to £1.3m, a 7% drop.
MD Peter Kitchin analysed in the report: “Given the fact the group operates in a highly competitive industry, we are delighted with these results. We have set our budget for the coming financial year and consider that the group is well placed to advance its financial performance in 2018/19.
“As a group we are highly focused on customer service and take pride in developing long term relationships with all of our clients and providing them with a consistently high quality service. To maintain this focus, our key assets are our staff and the systems which we adopt and we have again invested heavily in both during the past year in order to ensure that we are always delivering the best possible service in the most efficient and environmentally friendly way.”
He further told Catering Insight: “We are delighted with our most recent set of accounts, and are proud to have achieved pleasing consolidated figures, which obviously include the other two C&C Group companies. The market seems quite buoyant at present and we look forward to reading the published accounts of our competitors in Catering Insight.”