Croydon-based distributor International Food Service Equipment (IFSE) has posted a record set of financial results for the financial year ending 31 March 2018.
According to figures just published on Companies House, the dealer generated £9.3m in turnover over those 12 months, up £1m and 12% on the previous year’s total.
Its highest ever turnover was matched with its largest operating profit figure too, at nearly £800,000, a massive 39% increase from 2017’s £577,000.
Andrew Fordyce, group MD, told Catering Insight: “The team at IFSE are very pleased to have completed a record year as part of our ongoing growth strategy.
“The sector by sector trading picture in the industry has been very volatile over the last 2 years and we have needed to take an innovative and agile approach to each market to ensure we concentrate our teams’ efforts in those areas that still have buoyancy.”
He continued: “This period has also seen us concentrate on expanding our cornerstone of ‘best design and best delivery’ for our clients, with some key strategic appointments in the customer facing part of the business. Design, sales, compliance, project management and service were all expanded at the beginning of 2017 with our focused approach and heightened industry profile helping attract the best of the best from inside the industry and beyond.
“If you are going to grow organically it is vital to put a huge effort in to customer retention, and this effort has paid off for IFSE with no repeat project customer losses in the last 2 years.”
Fordyce concluded: “We thank our entire supply chain for their tremendous support over the last year and we look forward to ongoing constant improvement with our partners in the future.
“We are already in Q3 of the current trading year and on target to meet our next ambitious growth target for 2018/19.”