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Chillisauce in 15th year of growth as turnover increases to £19.1m

Company reports 10 per cent rise in total transaction value, while forecasting £20m turnover for 2017
04/07/2017

Pictured: Chillisauce saw total transaction value (TTV) go from £17.2m in 2015 to £19.1m last year

Chillisauce has reported a 15th year of consecutive growth, as earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 10 per cent.


Accounts filed at Companies House for the year ending 30 September 2016 show EBITDA went from £470k to £534k, while total transaction value (TTV) also 10 per cent £19.1m, compared to £17.2m the previous year. Pre-tax profits rose to £261k up from a loss of £280k the previous year, the result of a write-off of technology costs.


It comes as the London Bridge-based company sets a turnover target of £20m for the current financial year. The achieved turnover figure of £19.1m for 2016 surpassed Chillisauce's earlier predictions for £19m.


Commercial director Matt Hull attributed the 2016 results to the company's technology investments.


“We are already starting to see a positive impact and a good return on the significant investment made over the last couple of years in IT systems and infrastructure," he said. "Our investment in technology will enable the business to scale up, increase profitability and break into new markets, enabling us to offer an even greater range of group activities and events for our clients.”


Hull said further growth and improved profitability was forecast for this financial year, despite Brexit uncertainties and the weaker pound. He said the agency was expected increases in bookings on both the consumer and corporate sides of the business.


"We are currently nine months into our new financial year, and figures already show another strong performance across the business, he said. "Our target this year is to make it over the £20m turnover goal post, and we’re certainly on track to achieve this. We are up 9 percent compared to the same time last year which is extremely encouraging."


In terms of investment, Hull said it went toward bringing Chillisauce's customer-facing application up to date with mobile-friendly design. Other investments went towards streamlining the browsing and booking process, with a complete re-haul of both front and back ends.


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