The three divisions of Hobart – cooking, warewashing and service – have announced they are to raise prices by up to 8% in the wake of Brexit and the resultant net devaluation of Sterling.

The company says it has taken the difficult decision to mitigate the current economic situation following a period of careful market monitoring and introspection.

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It has earmarked the devaluation of Pound Sterling against not only the Euro but also the US Dollar, as having by far the greatest impact on trading.

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And, although exchange rates seem to have stabilised, Hobart forecasts the net effect to be a devaluation of Pound Sterling by as much as 16%.

The company is reliant on the purchase of machines, spare parts and also raw materials in many currencies but is particularly exposed to Euro and US Dollar prices.

Orders currently placed will be honoured at the agreed price while public sector prices will not be subject to the rise at this time.

Hobart Warewash MD David Riley said: “The decision to re-evaluate our cost base on each product line has not been taken lightly.

“Put simply if we want to maintain the levels of excellence built through years of both boom and bust – the finest machines, the most groundbreaking R&D backed by comprehensive after-sales and service provision – this is the course of action we must take.

“The current economic climate has left us with little choice.”

Full details of the price increase – due to come into effect on 22 August 2016, will be communicated to customers by each of the three divisions, separately.

All equipment orders placed before 22 August 2016 for delivery prior to 30 September 2016 will also be accepted at current pricing levels.