Delaware North sees turnover surge to £85m

Stadia caterer Delaware North has reported EBITDA of £1.35m having seen turnover rise £15m to £85.5m.

In the accounting period to 31 December 2017, the caterer acquired MagicGoal, the company behind Prime Burger, Chicken Rotisserie and Sandwich & Co, and enjoyed its first full year of operation at the London Stadium, resulting in the 20% rise in turnover.

Despite the growth in EBITDA and turnover, Delaware North reported a pre-tax loss of £3.5m.

The firm said in the financial statement that it didn't expect Brexit to pose a risk to its business model.

It added: "We continue to monitor the impact on the free movement of individuals within the European Union. The hospitality and catering industry has a dependency on non UK nationals which we need to review as the UK exit process is more fully understood."

Delaware North announced in June a new 25-year deal with Coventry's Ricoh Stadium, home to Wasps RFC and Coventry FC.

The American-owned company also delivers catering and hospitality services at Wembley Stadium and a number of stadia for UK football clubs, including Emirates (Arsenal), Pride Park (Derby County), the Valley (Charlton Athletic) and Craven Cottage (Fulham).

Additionally, Delaware North operates restaurants, bars and coffee houses at a number of UK transport hubs, including Glasgow, London Heathrow and Luton airports.

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