Zenith Hygiene Group, supplier of cleaning and hygiene products to the hospitality sector, has reported revenue for the year to 29 February up 8.4% to £53.2m.
The group grew EBITDA by 48.3% during the year to £4.9m with profit before tax up 104% to £2.8m.
It said its customer retention rate had increased 2% to 97%.
During the year Zenith acquired Rose Hygiene Products Limited and Advanced Cleaning and Hygiene Supplied Limited, acquired in April 2015.
It also renegotiated financing, securing a £13.9m banking facility from, to support the growth of the business in the UK and internationally
Chairman Lord Stanley Fink said: “This has been a very exciting year for Zenith Hygiene. These strong results are testament to our successful strategy of both organic and acquisitive growth and driving further efficiencies to improve operational gearing. Looking back over the year, we have successfully identified and completed two value enhancing acquisitions and will continue to evaluate additional opportunities as they arise. We have also focused our efforts on strategically growing our international operations, both as a standalone business and in conjunction with our customers. All of this would not be possible without the hard work and dedication of our employees who are central to our success, as well as our customers who continue to place their trust in our business. We would like to thank them for their continued support.”
Chief executive Ringo Francis said: “We are delighted to have reported another record year, delivering substantial operational and financial progress. This is the fifth consecutive year of profitable growth for our business, with profit before tax up 104% to £2.8million.
“The progress Zenith Hygiene has made over recent years, combined with our long-term strategy, ensures we are well positioned for the future. Our vision is simple; to provide quality UK-manufactured cleaning products and hygiene solutions to our customers, with a strong adherence to placing our customers at the heart of our strategy.
“As we enter a new financial year, we will continue to seek opportunities to expand our business through selective acquisitions, organic growth and international expansion. The board remains confident we will continue to deliver consistently top and bottom line growth in FY17.”