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Business

Silverstar Foods, which owns the Turners Fine Foods brand in Goudhurst, near Tunbridge Wells, increases turnover

By: Chris Price

Published: 00:00, 15 April 2016

A luxury food wholesaler increased revenues, profits and staff as the recovering economy gave its customers more money to spend.

Silverstar Foods, which owns the Turners Fine Foods brand in Goudhurst, near Tunbridge Wells, increased turnover nearly 30% to £41.5 million last year.

Operating profit jumped nearly 32% to £1.5 million while pre-tax profits increased from just over £1 million in 2014 to £1.4 million, according to its latest accounts filed to Companies House.

Silverstar Foods supplies caterers under the Turners Fine Foods brand

Staff numbers grew from 238 to 311 over the course of the year, also covering sites it owns in Dorset and Lancashire.

Managing director Toby Raphael said: “The company is reliant on the continued growth in the economy at large, fuelling growth in discretionary spending.

"The past year has seen new business gained in institutional sectors which are less reliant on discretionary spending and also an increase in business gains outside the South East which will serve to reduce our reliance on a buoyant casual dining market in London particularly.”

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