Lincat can lay claim to one of the largest UK-based catering equipment manufacturing operations after posting a £5m increase in turnover to £44.3m during 2017.
Gross profit on sales reached £21.3m at a margin of 48.1%, leaving an operating profit of £11m once overheads had been deducted.
Lincat’s consistent year-on-year growth continues to demonstrate why the Middleby Corporation shelled out nearly £58m for the business seven years ago.
If you add in the 2017 revenues of sister companies IMC and Britannia (£11.9m) then Middleby has seen the turnover of the businesses it acquired grow from around £38m to more than £56m during its ownership.
The vast majority of Lincat’s turnover originates from its home market, which demonstrates the appetite for its cooking and water boiler equipment among pub groups, restaurants and caterers, but the continued growth of its export business will give it cause for cheer.
Lincat is one of the industry’s largest employers, with 250 staff. 175 of those are in production roles, underscoring its manufacturing scale.
2017 Vital Statistics
Turnover: £44.32m (+13%)
Operating profit: £11.03m (+18%)
Employees: 249 (232)
Ownership: The ultimate parent company is The Middleby Corporation, incorporated in the US.
Financial year end: 31 December