London’s premier independently-owned contract caterer, Vacherin, has reported its annual turnover has risen for the 15th consecutive year. Figures published this week for the year ending 31 August 2017 show turnover at £19.7m, a rise of almost 15 per cent.
The first full year with Phil Roker as managing director and the associated new structure has been a great success for the management team, who have maintained not only the growth momentum but also the ethos and culture established since Vacherin’s conception by Mark Philpott and Clive Hetherington, who continue to oversee developments as principal shareholders.
The year has been the best in Vacherin’s 15-year history for new business, with the company gaining eight new contracts, including London Stock Exchange Group, Miller Insurance Services LLP, PSP Investments, Advent International, The Crown Estate, Regent’s University London and two co-working sites for London’s leading flexible office provider Workspace.
These new contracts have a total annual turnover value in excess of £5m and as many of these contracts were mobilised towards the end of the financial year, Vacherin anticipates that next year’s turnover will increase by a further 20 per cent. Vacherin’s enviable record of contract retention also continued and is testament to its commitment to the highest levels of customer service and exceptional food quality.
In line with this growth, Vacherin has strengthened its senior management team in all areas with six appointments across operations, HR, accounts and business development to maintain their unrivalled level of support to the growing client base.
Clive Hetherington, owner and finance director, said “We are absolutely delighted with these results. Our policy has always been to employ in advance the resources required to manage increased business levels. As a result of this investment in resource our overhead costs increased as a percentage of turnover but other key performance measures such as contract and staff retention, turnover and cash generation remain very strong and overall the financial health of the business is very robust.”
Chairman and co-owner Mark Philpott added, “Our business philosophy is the same as when Clive and I launched the business 15 years ago. We aspire to surpass client expectations and aim to be viewed as an extension of our client’s existing teams. This strategy continues to prove successful by our business success. Our employees are the lifeblood of Vacherin and we have been refreshing our learning and development strategies to ensure our workforce remains engaged and happy, as well as maintaining our excellent low levels of staff turnover.”
Vacherin’s investment in restructuring the business has allowed the company to remain committed to its clients and core values, while benefitting from consistent growth. Dedicated to organic growth in its central London market, Vacherin has recently won two further contracts to support law firm Cleary Gottlieb Steen & Hamilton and a well-known global media organisation.
Prospects are buoyant as the company is now generally acknowledged as the leading owner-managed provider of high quality catering and hospitality services to discerning clients in central London.