Catering equipment powerhouse ITW books £1.71 billion turnover

ITW transacted $2.21 billion (£1.71 billion) worth of catering equipment sales last year as its food division returned to top-line growth again.

The revenue haul was $9m (£7m) more than the company made the previous 12 months, when turnover remained relatively flat at $2.12 billion (£1.63m).

The US-based company is one of the largest suppliers of commercial kitchen equipment in the world and owns a number of major foodservice equipment brands that are sold globally, including Hobart, Bonnet and Foster Refrigerator.

Foodservice equipment is the second largest division within the US-based industrial products group’s business during 2018, accounting for 15% of its enormous $15 billion (£11.6 billion) turnover.

Operating income for the food division, which specialises in dishwashing, cooking, refrigeration and food processing equipment, reached $572m (£442m) in 2018, an increase of 3% year-on-year. Operating margin fell from 26.2% to 25.8%, however.

“We enter 2019 well-positioned to deliver another year of differentiated performance and continued progress in executing our long-term strategy to leverage the power of the ITW business model to its full potential,” stated chairman and CEO Scott Santi.

RELATED: Hobart merges warewash and cooking divisions

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