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Vacherin grows turnover 14% but forecasts 12- to 18-month coronavirus hit

28 April 2020 by
Vacherin grows turnover 14% but forecasts 12- to 18-month coronavirus hit

London B&I caterer Vacherin grew turnover by 14% last year, but says it expects to feel the effects of the coronavirus lockdown on the business for the next 12-18 months.

Results posted for the year to August 2019 show Vacherin won five new contracts worth £4.5m during the period. Total turnover stood just below £30m, which represented 14% year-on-year growth and was 7.5% ahead of target. Operating profit grew by 28% year-on-year to £786,063.

The company, which was the latest to join CH&Co in February 2020, says it continued to invest in head office support and technology during the period, including its customer-facing app and systems to record and reduce food waste.

Managing director Phil Roker said the growth put the company in a strong position to manage the devastating impact of Covid-19.

"Our business is 100% central London B&I, so the majority of sites are currently closed and staff are furloughed," he said. "While we are currently talking to a lot of clients about plans for phased returns to work, we are expecting this lockdown to impact our business levels for the next 12-18 months.

"The extensive expertise and central resource provided by the CH&Co group will enhance our ability to build on our core values as we manage the business through and beyond this unprecedented period.

"I am confident that, as we find ourselves in the throes of this pandemic, the strength of relationships with our clients and the commitment and support of our people will serve us well as we weather this storm alongside our colleagues across our industry."

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