The uncertainty of Brexit and a string of high street restaurant closures appear to have put the brakes on the rate of growth seen by the UK’s largest suppliers of kitchen equipment.
Analysis from FEJ has found that the top 10 largest suppliers and manufacturers in the UK catering equipment market collectively posted annual sales of £636.82m in 2018, which represents an increase of 2.2% on the figure achieved by the same businesses the previous year.
It is the second time in as many years that the turnover of the 10 largest suppliers has exceeded £600m, but the slowdown in growth hints at the challenges the industry has had to overcome.
The 2.2% growth compares with 10.1% in 2017 and 11.1% in 2016.
The numbers were compiled for FEJ’s annual ‘State of the Nation’ report, which documents the fortunes of the largest suppliers based on the latest accounts filed with Companies House.
Last year we estimated that the top 10 players were responsible for more than 60% of equipment sales in the UK and the current numbers for the period ending 31 December 2018 suggests the situation has not changed this time around.
The top 10 only comprises companies whose core business is to manufacture or supply branded heavy duty catering equipment to operators, primarily through a third party intermediary such as a dealer.
The full report will be published online this week.