Post-Brexit plunge in the pound causes Hobart to hike prices

Falling pound

The plunge in the value of the pound that followed Britain’s vote to leave the EU has caused Hobart to hike prices by up to 8%.

The price rise applies to its three major divisions: Cooking, Warewashing and Service.

The company says it has taken the highly difficult decision to mitigate the current economic situation following a period of careful market monitoring and introspection.

The manufacturer says the devaluation of the pound against the euro and the dollar is having a significant impact on on trading. It’s decision is based on an assumption that the pound will continue to trade 16% lower against major currencies.

Hobart clarifies that orders currently placed will be honoured at the agreed price while public sector prices will not be subject to the rise at this time.

Hobart Warewash managing director, David Riley, said: “The decision to re-evaluate our cost base on each product line has not been taken lightly. Put simply if we want to maintain the levels of excellence built through years of both boom and bust – the finest machines, the most ground breaking R&D backed by comprehensive after sales and service provision – this is the course of action we must take. The current economic climate has left us with little choice.”

Full details of the price increase, due to come into effect on August 22nd 2016, will be communicated to customers by each of the three divisions, separately.

All equipment orders placed before 22nd August 2016 for delivery prior to 30th September 2016 will also be accepted at current pricing levels.

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One Comment;

  1. Iain Addison said:

    Typical large Company – blame it on someone else. I haven’t seen any other manufactures increase prices yet. I have however seen manufacturers hold prices and “suck up” the difference for at least the next 6 months. Here at VITO UK we are holding our prices firm.

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