Meiko completes the list of warewashing companies that make it into this report after turnover spiked 3% to £17.1m in 2016.
In their review of the business, directors of the Germany-based outfit described 2016 as a “reasonable” year given the economic climate.
Sterling remained volatile against the euro for the second part of the year but a late euro weakness in December 2016 resulted in a foreign exchange dip in position.
Bosses said its top-line growth was attributable in part to a rise in small machine sales, but this also resulted in it posting a reduced operating profit for the year of £282,000 compared with more than £1.3m the previous year.
Meiko has invested heavily in the service element of its business in recent years, with its three-year and five-year ‘no bills guarantee’ offering proving popular with multi-site businesses that want their warewashing maintenance needs taken care of without the fear of incurring additional costs when call-outs are made.
2017 is a significant year for the business as it marks its 90th year in business, a feat made more impressive by statistics that show just 1.5% of German companies in operation today are more than 100 years old.
2016 Vital Statistics
Turnover: £17.19m (+3%) Operating profit: £282,376 (-78%)
Ownership: The immediate parent undertaking and controlling undertaking is Meiko AngloAmerican GmbH, incorporated in Germany. The ultimate parent entity is a German foundation which is known as the Oskar und Rosel Meier-Stiftung Foundation
Financial year end: 31 September