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THE CHASING PACK…

Electrolux Professional cooking suite

The threshold for inclusion on this year’s list increased by £820,000 this year to £19.05m, but there were a handful of companies very close to making it into the top 10.

Foodservice Equipment Marketing Limited achieved a turnover of £18.17m, which was virtually stable on the £18.23m it posted the previous year.

Operating profit rose 33% to £3.93m. Directors of the company said they were pleased with the performance during the year, which included the expansion of its product range and investment in key personnel with a strong emphasis on customer service.

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Just behind it is HTG Trading Limited, which recorded a turnover of £18.06m in 2018, a rise of 0.4% on the previous 12 months.

In its accounts, the company said that following currency volatility it had struggled to recover the full cost impact of significant increases in equipment and parts relating to items imported into the UK.

Overall, adverse currency movements added 15% to overall raw material costs if you compare it to two years before. However, the Scotsman and Taylor distributor still succeeded in growing operating profit from £909,000 to £1.29m.

One name to drop out of the top 10 for the first time was Electrolux Professional. A weakening in sales was attributed to the challenges faced by key customers in a “softened market”.

The company, which splits out its laundry and catering revenues, posted a 14% fall in foodservice turnover to £16.58m for the period.

Divisional operating profit fell 28% year-on-year to £1.5m, although this was partially due to guaranteed minimum pension (GMP) equalisation between benefits for men and women after a high court ruling in October last year in a case brought by Lloyds Banking Group Pensions Trustees against the bank itself.

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Andrew Seymour

The author Andrew Seymour

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