This week AlixPartners in collaboration with EP, launched the Food Service Growth Report 2018. Now its in sixth year, the report launch brings together the foodservice community over breakfast to showcase the fastest growing (by profits) independent foodservice companies in the UK.
Over 130 guests heard insight from Graeme Smith, Co-Head of Financial Advisory Services at AlixPartners, Chris Sheppardson, Managing Director of EP Business In Hospitality and Kevin Watson, Managing Director of Amadeus.
The event, held in the beautiful surroundings of The Royal Society of Arts has become a recognised date in the calendar and serves to show the strength of the market, competitiveness, depth and breadth.
Profit growth is measured by compound annual growth over three years, based on statutory accounts. Qualifying companies must have a turnover of at least £10 million in their latest accounts and profit of at least £250,000.
During the presentation Graeme Smith highlighted the core observations AlixPartners had made whilst compiling the report:
1. Brexit Uncertainty
2. Inflation Uncertainty
3. Tendering Discipline
4. Mergers & Acquisitions Continue
5. Education, Education, Education
6. International Expansion
Chris Sheppardson spoke of the difficulty of planning ahead in times of uncertainty and how the consumer is changing which puts pressure on the foodservice players. Whether diet, health or productivity, change is taking place but the sector has many possibilities to grasp the challenges and counter.
Kevin Watson shared the story of growth at Amadeus since he took over six years ago. By going back to what they do best and working towards greater staff engagement, they changed from their culture from just service to service that sells.
The report also includes fascinating insight from:
– Nigel Harris, Owner, The Proper Food and Drink Company – Absolute Taste
– Emma Thorn, Investment Director, Bridges Fund Management
– Tom Cox, Director, AlixPartners