Back in 2016 Electrolux Professional’s foodservice division surpassed the £20m turnover mark for the first time in its history, but a softening market faced by key restaurant customers meant it wasn’t quite able to reach the same record-breaking heights last year.
Sales reached £19.3m for the period, representing a decrease of 6% year-on-year.
Operating profit shot up 18% from £1.8m to £2.1m, while the company’s operating profit margin increased from 8.9% to 11.1%.
Despite price pressures weighing heavily on the firm’s shoulders, better product mix and cost management ended with the foodservice equipment division clocking up its most profitable showing for three years.
The manufacturer said that its high rate of innovation and widespread service network remain important competitive advantages, while its focus on cutting-edge design and environmental credentials has strengthened its core Electrolux and Molteni offering.
While Electrolux helpfully breaks out the performance of its foodservice division, it is worth noting that the overall Professional business also comprises a laundry equipment arm, which contributed £1.4m of operating profit and £14.7m of turnover in 2017.
Together, both divisions create a business that made an operating profit of £3.57m on sales of £34m last year.
2017 Vital Statistics
Turnover: £19.30m (-6%)
Operating profit: £2.14m (+18%)
Employees: 70 (71)
Ownership: The ultimate parent and controlling party is AB Electrolux, incorporated in Sweden.
Financial year end: 31 December