Independent contract caterer Wilson Storey Halliday has reported turnover of £45m in the year ending 31 December 2002, an increase of £12m on the previous year, with trading profit estimated at 3% for the year.
Managing director Alastair Storey said the results mean the company has almost doubled its turnover from £23m two years ago, bettering its aim of achieving that goal within five years.
He added that the figures reflect a 35% increase in organic growth, plus the retention of 97% of its contracts last year. The company won 31 new contracts in 2002, bringing the total to 152. The largest is worth £3m and the smallest £200,000.
During the year, Storey says the company also invested £750,000 in IT to improve the management information system and create a clear audit trail, accessible to clients.
Wilson Storey Halliday was set up by Storey, financial director Keith Wilson and human resources director Linda Halliday in 2000. In 2001, a merger with Houston & Church added £7m to turnover that year.
Storey said they would continue to focus on growing the company organically, mainly through the business and industry sector, and wouldn't actively seek further mergers or acquisitions.
"As a mental rule of thumb," he said, "we want to double our business every five years. We want good, sustainable growth."
Source: Caterer and Hotelkeeper magazine, 20-26 February 2003