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Strategy & Business Model

Performance, People and Purpose

We manage the business with a disciplined focus on Performance, People and Purpose as our main strategic priorities.

Performance
We manage the business using our Management and Performance (MAP) framework. The discipline it brings ensures we are managing the business efficiently while continuing to delight our clients and consumers with innovative, healthy and exciting food service solutions.

People
Our colleagues around the world are at the heart of our business and we believe the way we organise, train and develop them is a critical competitive advantage. Supporting them in the challenging circumstances brought about by COVID-19 has been a key priority this year.

Purpose
The COVID-19 pandemic has further emphasised the importance of leading with purpose to realise the true potential of the organisation. We support initiatives across the Group that support the health and wellbeing of our people, clients and consumers, and are beneficial for the environment and the communities in which we live and operate.

Strategy

Despite the challenges of COVID-19, our strategy to deliver strong financial performance through our MAP framework, and to support a highly engaged and skilled workforce with a focus on safety and sustainability, remains intact.

Our focus on food, along with some specialised support services, continues to be relevant for growth because the market opportunity is significant and the pandemic has created more demand for first time outsourcing.

Business model

Food is our focus and our core competence. We take a pragmatic and targeted approach to support services on a country and sector specific basis

Organic revenue growth
Our business model begins with organic growth, which we drive through sectorising and sub sectorising. This approach allows us to differentiate ourselves and get close to our consumers to create bespoke and innovative solutions. Organic growth is supplemented by small and medium sized acquisitions that add capability or scale in our existing markets.

Operating efficiencies
We focus on operational execution and generate efficiencies by optimising our supply chain and diligently managing our food and labour costs. These benefits enable us to reinvest in digital and culinary innovation to maximise the significant growth opportunities for the Group.

Competitive advantage
Our growth, the scale it creates and our focus on cost and efficiencies, along with our robust balance sheet, gives us real competitive advantage. These advantages allow us to provide our clients and consumers with the best value in terms of quality and cost which, combined with our sectorised approach, helps drive long term sustainable organic revenue growth.

Our people and culture
Our  people and purpose are at the heart of our business. Our aim is to nurture an engaged and highly capable workforce to win new business, manage our units efficiently and effectively, and deliver the healthiest, most innovative food solutions in a way that provides a safe and exciting experience to our clients and consumers.

 

How we create 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 and to generate further efficiencies to deliver continued margin imrpovement. We invest in bolt-on acquisitions that add capability or scale in an existing market and whose returns exceed the cost of capital by year two.

Returns to Shareholders

Our aim it to target a net debt to EBITDA leverage range of 1x-1.5x and we are keeping dividends and other shareholder returns under review and will restart them when it is appropriate to do so.