It was in line with projections to just under £34 million, with profitability up also.
It has said that ‘significant’ retentions and new growth have buoyed Wilson Vale’s success.
Andrew Wilson, co-founder of Wilson Vale, said: “It’s good to report that our continued investment in our management structure and resources have resulted in a positive set of numbers for 2018.
“Investment on its own, of course, is never enough. Hard work, commitment, innovation, enjoyment and strong determination to maintain the highest level of client service standards go hand-in-hand with it. Our retentions are undoubtedly as a result of this focus on relationships with our clients.”
Through natural cycles, seven of its clients across ten locations went to out to tender last year and Wilson Vale retained six of them and is currently awaiting a decision on the final one.
Six new business gains throughout the year include Herne Hill School, Wilson Vale’s first independent school in Central London; Kent College, a large independent boarding school in Pembridge, and Lane End, a conference centre near High Wycombe.
Wilson Vale now has a portfolio of 95 clients, serviced and supported by an operations team of four general managers and twelve area managers, which is a ‘class leading’ ratio within the contract catering sector.
“We continue, some would say in an old-fashioned conservative model, to have no debt or bank facilities. This gives us flexibility and financial autonomy, ensuring that we maintain control at all times,” said Wilson.
“Take our purchasing, for example. We have over 450 individual suppliers, many of whom are family-owned artisan producers and growers. Some of these may only service one or two of our locations yet they are vitally important to our approach,” he said.
Year end 2018 shows that Wilson Vale employs 818 people, and despite a 10% increase in costs throughout the year due to investment the business, including a new sustainable corporate headquarters and a new HR/Payroll system to support its growth, the independent catering company maintained a ‘healthy’ ratio to profit growth.
Looking ahead, Andrew Wilson expects the trend of careful turnover and profit growth to continue in 2019, but he believes that this is unlikely to be at the same level as 2018.
Wilson Vale’s projected annual turnover for 2019 is £35.5 million.