Green & Fortune eyes growth after ‘solid’ trading year

Green & Fortune chief executive John Nugent has said the contract caterer saw a “solid trading year” and will focus on growth in 2025.

The group, founded by Nugent in 2008, has seen turnover nearly double in two years to hit £17.5m in the year ended 31 March 2024.

Gross profit rose from £4m to £5.5m while pre-tax profits rose from £386,616 to £478,867.

EBITDA hit £1.26m, up from £904,206 the previous year.

Green & Fortune has grown to five sites across London including King’s Place Events, Sea Containers Events, Central Hall in Westminster and its most recent addition, Rose Court on the South Bank.

Nugent told The Caterer the business was “naturally” concerned about rising costs introduced in the autumn budget, including increases to the national minimum wage and employers’ national insurance contributions from April as well as rising business rates.

But he said the business was “working through these challenges and looking to drive efficiencies and revenues where possible, to mitigate these cost increases”.

Green & Fortune is also seeking further opportunities to expand in 2025 and beyond.

Nugent said: “Delivering these results allows for further investment in both capital projects and also in the people side of our business. We will continue this approach in 2025 to ensure future growth and profitability.

 
“2025, and beyond, will allow for further opportunities to scale. Our ability to work across multi channels within the hospitality sector presents us opportunities with varying and complex prospects.

“We will also strengthen the senior Green & Fortune team in this period. Alongside new opportunities, there will be a further focus on maximising the commercial value from our existing trading assets, utilising these to allow for enhanced benefits to be delivered.”

Nugent won the Outstanding Contribution Award at the 2024 Foodservice Cateys for his work building Green & Fortune and supporting wider charity initiatives.

As well as leading Green & Fortune, he is co-owner and founder of restaurant and bar Daffodil Mulligan and Gibney’s London and has also partnered with other hospitality entrepreneurs to launch Patina Edinburgh.