Could 2019 be the year when Welbilt UK Limited becomes a £100m turnover business for the first time?
It would certainly seem that way if it has been able to maintain the sort of lofty growth witnessed in its last few sets of accounts.
Organic growth and roll-out expansion by major food chains contributed to Welbilt posting a record set of results in the UK during 2018, continuing its run as one of the sector’s most profitable businesses in the process.
The manufacturer – owner of brands such as Merrychef, Convotherm and Garland – increased turnover by 13% to £96.1m for the 12 months to 31 December 2018.
Operating profit swelled from £17.3m to £24.8m as it managed to achieve the holy grail of top and bottom line growth.
Welbilt said that as well as the strong customer growth, it benefitted from continued investment in new products following a series of key equipment launches.
Analysis of the results suggests the business has benefitted significantly from strong export sales, most likely on Merrychef ovens, which are made in the UK but sold globally.
Welbilt’s turnover from the UK market alone actually fell from £44m to £38m year-on-year, which, if we just took that figure into account, would see it drop a couple of places lower on this list.
However, as we include all company income for the purposes of consistency, its overseas performance is to its advantage.
Turnover: £96.06m (+13%)
Operating profit: £24.81m (+44%)
Employees: 282 (286)
Directors that served during the year: C Cammoile (resigned 03/18), A Gray, J Rourke
Ownership: The ultimate parent company is Welbilt Inc, incorporated in the US.
Financial year end: 31 December 2018