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Shine confirms record revenue in 2019

Julian Shine crop
Shine Catering Systems MD Julian Shine believes the firm’s adaptable strategy will allow it to build on last year’s financial success, despite the coronavirus impact.

Newport-based distributor, Shine Catering Systems, has officially confirmed a record revenue of £15.0m for the 12 months to 31 December 2019, after indicating to Catering Insight earlier this year that similar figures would be reported.

This represents a 19% increase from the £12.6m posted in 2018. Likewise, operating profit increased by 35% from £328k to £444k.

Staff numbers also grew from 55 to 61 within the year.

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MD Julian Shine wrote in the annual report: “2019 has been a satisfying year for the company, where our operational activity was even greater than the record revenue figure of £15m would suggest, with around £1.6m of equipment being installed in 2019, that had been delivered and held in storage by a client during 2018.

“As a result of a good performance for the year, we are pleased to report a strong year end position. We have key systems and procedures in place to monitor enquiry success rates which also monitors the stage of each enquiry and the likelihood of converting into an order. We regularly monitor this tool and we are pleased to report that, despite Covid-19, the order book for 2021 is higher than this time last year for orders to be completed in 2020.”

Shine further detailed to Catering Insight the firm’s strategy during this year: “We didn’t sit idle during the lockdown period, our new management tools, strategy and structure enabled us to be quick to react to the Covid 19 situation.

“We recognise that our workplace, the construction site, will continue to adapt and deliver but not quite as we’ve known it for the foreseeable future, and to demonstrate our agility and restructure for the radically different economic landscape has been a great success.

“A good order book and continued award of contracts at just under our business as usual targets throughout, has offset the few contracts cancelled or delayed, providing confidence in a strong trading performance for the future.”

He concluded: “We have acted to protect our ability to provide a top quality of service whilst having a framework for easy upscaling at a time when the restrictions imposed by the virus have been overcome. Our new management structure and ideology are financed, scalable and ready to roll.”

Tags : businessdealerdistributorfinancial resultsfinancialsshineShine Catering Systems
Clare Nicholls

The author Clare Nicholls

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