The top kitchen house performer for this year according to Catering Insight’s research is the Airedale Group, coming in with a £42m turnover in the 12 months until 31 December 2016.
The group perhaps has a slight advantage over the rest of the pack, as consolidated results include those from Airedale Catering Equipment, fabricator Caterform and SCCUK, the Weymouth-based dealer Airedale acquired in 2014. But the latest revenue represents nearly 18% growth on 2015’s figure of £34.5m. Profit before taxation has performed a 180° switch, with 2016’s result standing at £1.6m profit compared to a loss of £118,000 the year before.
Likewise operating profit increased from a dip of £398,000 in 2015 to a massive £1.8m the following year. 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%. The firm feels that Ebitda is a more relevant measure for the business than bottom line profits though, and for the group overall this was over £3m in 2016.
Nevertheless, you will see that there are no figures here prior to 2012. This is because the full group was only incorporated that year. Furthermore, the original accounting period changed in 2012, so the 2012-13 results encompass figures from 30 October 2012 to 31 December 2013.
For the Airedale Catering Equipment division individually, the latest 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.