Benugo, the restaurant operator and caterer, has reported a 46.5% rise in pre-tax profits to £4.9m in the year to 27 December 2013 and said it forecasts “significant growth opportunities” for 2014.
Turnover grew 24% to £70.1m partly due to contract wins in 2012 and also a “significant” number in 2013.
Operating profit was up 47% to £4.9m, helped by “tighter cost management”, and the value of its net assets grew 66% to £12.9m.
Benugo, which provides contract catering to the British Museum and the V&A, said: “The directors are pleased with the results for 2013 and are confident that with the significant investment made in overheads and infrastructure the business is adequately structured for significant growth opportunities forecast for 2014.
“When we founded Benugo we had a vision of not just creating superb, natural food but something that was a real experience. What makes Benugo unique is that we combined the flexibility of a contract caterer with the consistency and commercial focus of a high street brand. Our plan is to improve and consolidate our presence on the high street. We would look to expand this area of the business, improve profitability and continue to develop the Benugo brand in response to customer needs and feedback.”
