Waterfall Services serves up its first £1m profit

North West catering specialist, Waterfall Services, has grown pre-tax profits by 22.5% to £1.1million, accounts posted today at Companies House show.

The Warrington-based group’s total turnover also increased, by almost 5% to £48.7million.

Waterfall is the parent company of education catering specialist, Taylor Shaw, and aged care and welfare sector caterer, Caterplus, employing more than 3,000 people nationwide.

The acquisition of Pro Serv Corporate in August, which gave Taylor Shaw a presence in the South West for the first time, and the likely growth in school meals provision in the primary schools sector means that the company is expecting further growth in the current financial year.

Managing director, Jim Lovett, said: “Last year was a strong one for Waterfall Services. We worked hard to re-secure a number of long term contracts and we have seen substantial wins in our new business helping us deliver strong growth, despite some challenging economic conditions.

“Whilst there is the ever present threat of food price inflation we have been able to take advantage of the increasing demand for high quality, freshly prepared, nutritious meals in both the sectors in which we specialise.

“At the same time, we were able to expand our footprint across the country, in both the south west and Scotland and are well positioned to improve our profitability and paving the way for further growth this year.”

As well as acquiring Somerset-based Pro Serv, Taylor Shaw has expanded its reach in the primary schools sector with long term contracts in County Durham, Sheffield, Brent and Stockport with estimated annual values in excess of £10million pa.

Caterplus, meanwhile, has secured a number of nationwide contracts in the care sector and continues to show strong growth, particularly in the extra-care market where it has signed agreements with a number of clients including Hanover Housing, Peveral Care and McCarthy and Stone.

Mr Lovett added: “The Extra Care market is in the middle of a rapid growth phase. We have been very successful in developing relationships with a number of national providers to become their caterer of choice.

“The traditional model of care home provision is changing and we have been quick to react to this changing requirement for catering of this client group.”

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