Catermasters reports fall in pre-tax profits
04 July 2014 by Janie Manzoori-Stamford
Independent foodservice firm Catermasters saw pre-tax profit fall 8.5% for the year ended 31 December 2013, while annual turnover remained flat with a marginal increase of 0.4%.
In documents filed at Companies House, the caterer reported turnover of £25.9m (2012: £25.8m), while pre-tax profit stood at £636,022, down from £695,515 the year before.
Despite some strong new business wins in the second half of 2013, Catermasters said that organic growth had been limited after it had strategically withdrawn from non-performing contracts in the first six months of the year.
The acquisition of Bite Catering last June was described "tremendous" and Catermasters said it has invested in its Food is Everything brand.
