Business

Catering giant Mount Charles grows turnover to £30m

Cathal Geoghegan, managing director of Mount Charles
Gareth McKeown

FEARS over the outcome of Brexit have failed to impact on catering and foodservice giant Mount Charles growing its annual turnover to almost £30 million last year.

The award-winning Belfast company, founded in 1988 by Trevor Annon, has announced "encouraging" annual results, which show sustained growth across the board in the areas of sales, profits and overall net worth.

Mount Charles reported a rise in turnover of five per cent to £29.5 million in the year ending September 29, 2016, with sales, which account for £25.5 million, also up by six per cent on the 2015 figure.

Profit before tax increased from £1.2 million to £1.3 million in 12 months, with the company declaring "significant progress" throughout the year in relation to key elements of its strategy.

The same figures show Mount Charles' net worth grew by over a million pounds to £6.5 million.

In terms of employment staff numbers fell by 15 to 1,332, while the total wage bill rose from £13.1 million to £14.1 million over the year.

Mount Charles director Cathal Geoghegan said the company has sustained "continued organic growth" over the past number of years as a result of new business and competitor gains.

"It is expected that subsequent periods will result in comparable growth levels. The company has also explored several acquisition opportunities during the course past year. We continue to strengthen and develop our infrastructure to cope with the demands this growth brings."

Mr Geoghegan did however, express some concerns in relation to possible heightened costs as a result of the UK vote to leave the European Union.

"Brexit will no doubt impact upon the economy in terms of general market volatility within the business environment which we operate. Heightened risk areas will include our prime costs, labour costs and our ability to compete with competitors in EU countries. The directors have assessed the main impacts and risks associated and are satisfied that we are in a strong position to manage these risks and furthermore in a position to act quickly to the ever changing business landscape whilst remaining focused upon our current business and future growth objectives."

Mount Charles, one of Deloitte's Best Managed Companies in Ireland, operates across the UK and Ireland and now works with over 150 companies across the island.

In April the firm announced the launch of a new division to recruit, train and place people into a diverse range of roles within the group, with ambitious plans to grow company turnover to £50 million by 2020.

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