PKL: Strong Financial Performance in 2011/12

PKL: Strong Financial Performance in 2011/12 PR Newswire CHELTENHAM, England, November 22, 2012 CHELTENHAM, England, November 22, 2012 /PRNewswire/ -- PKL Group, the UK's leading supplier of temporary kitchens, commercial catering equipment and permanent kitchen solutions for hire and sale, has announced a healthy performance for the financial year ended April 2012. The Gloucestershire-based company saw an increase in turnover of 5.9% to £17.8 million and an increase in earnings before interest, taxation, depreciation and amortisation (EBITDA) of 10% to £5.8 million, while a continued focus on tight cash management and negotiation of appropriate payment terms helped PKL achieve a net cash inflow from operating activities of £7.5 million. This progressive improvement in financial performance, despite difficult economic conditions, has been due significantly to major projects both in the UK and around the world, notably supplying kitchens and catering equipment to the London Olympics, concentration on new business areas and a strong level of repeat business, which generated 50% of revenue in the company's core departments during the year. Key areas contributing to the company's success in 2011/12 include: KitchenPod range - This has achieved significant success with one order for 63 pods from a single public sector client. The company's strategy of targeting the education sector, for both hire and sales, has worked well for this new range of modular units.