Warewasher manufacturer Classeq has produced a hugely positive set of financial results for the 12 months to 31 December 2018.
According to the firm’s latest annual report, publicly available on Companies House, turnover is up by 22%, from £16.7m to £20.5m.
While operating profit has increased at double that rate, growing by 44% to £2.6m from £1.8m in 2017.
Financial director David Parsons stated in the report: “The directors are satisfied with the gross margin achieved on increased sales turnover. The directors consider the company’s performance to be good in the current economic climate.
“Turnover continues to grow in line with our strategic objectives, both in home markets and in exports, with all products contributing to this growth.”
While David Smithson, CEO of Winterhalter UK, Classeq’s parent company, told Catering Insight: “Further to investment in our British production facility which opened in Stafford in 2017, alongside new product development and building innovative service features across our national distribution network, we are pleased that demand for our products has continued to stay strong over the past 18 months, despite the prevailing variable markets.
“Our focus has been to maintain Classeq’s reputation for reliable, value for money warewashers that are easy to use and maintain, delivering reliability, confidence and trust in the brand.”
The report went on to discuss contingency planning for Brexit, revealing: “As it is not possible to know the conditions under which Brexit will take place, we have taken steps to ensure that we are able to continue operating as normally as possible and to offer our customers support through any transition period.
“This includes allowing for a potential ‘worst case’ of the UK leaving the EU in a ‘no deal’ scenario. It is possible in a ‘worst case’ scenario, that there may be a disruption of supplies between the UK and the EU that extends for a lengthy period of time. In this case we, like other suppliers in the industry, may find new equipment supplies are affected by customs delays and transport disruption.
“Our contingency plans include a limited increase in machine stocks, but the extent of our current range and the differing needs of our customers preclude us from holding every machine variant that our customers might require.”
The report concluded: “To counter potential machine supply problems we have significantly increased our stock holding of parts. Our expectation is that, where machines cannot be replaced immediately, we will be in a position to support our customers by maintaining machines in working order so that they can continue to operate normally and not have this affect their normal operations.
“The company’s intention is that we will support our customers’ businesses through any disruption caused by Brexit, and will do our utmost to ensure their warewashing requirements are fulfilled throughout this period.”