Strategy & Business Model

Strategy

Our strategy is clear and well defined.

  • Focus on food
  • Incremental approach to support services 
  • Prioritise organic growth 
  • Bolt-on acquisitions 
  • Best-in-class execution 

Food is our focus and core competence. We are committed to providing the best quality and value to our clients with best-in-class execution. We focus on innovation in our core food business to bring more variety and excitement to our offer as well as to improve our operations. We take a pragmatic and incremental approach to support services, with strategies developed on a country by country basis.‚Äč

Business model

We focus on operational execution and generate efficiencies by optimising our supply chain and managing our food and labour costs. These efficiencies enable us to reinvest in the significant growth opportunities around the Group and improve margins.

Our organic revenue growth, the scale it creates and our focus on costs and efficiencies give us a competitive advantage. We can provide our clients and consumers with the best value in terms of quality and cost and this, combined with sectorisation, helps drive organic revenue growth.

People are at the centre of all that we do. They win new business, manage our units efficiently and effectively and bring innovative and high quality food and services to our clients.

How we create shareholder value

Growth

Our priority is organic growth and we continue to put focus and resources behind both MAP 1 (driving new business and retention) and MAP 2 (consumer sales).

Margin

We remain focused on costs and improving MAP 3 (cost of food), MAP 4 (in unit labour costs and overheads) and MAP 5 (above unit overheads). This generates operating efficiencies and enables us to improve margins.

Investment

We invest with discipline to support our organic growth. Capital expenditure tends to be between 2.5% and 3.0% of revenue. We also invest in infill acquisitions when they add capability or scale in an existing market and have returns that exceed the cost of capital by year two.

Return to Shareholders

We create value for our shareholders by delivering a balanced package of progressive dividends which grow in line with constant currency earning and returning any additional surplus capital to shareholders to maintain net debt/EBITDA at 1.5x.