Electrolux improves profits despite tough market

Electrolux's 2017 results show increase profits and margins.

Luton-based Electrolux Professional has posted an 18% operating profit increase for its foodservice division, according to the latest publicly-available accounts on Companies House.

Figures increased to more than £2.1m for the 12 months to 31 December 2017, against 2016’s £1.8m.

Operating profit margins also grew over the same period, from 2016’s 8.9% to hitting double figures of 11.1% in 2017.

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However, turnover declined by nearly 6%, from £20.5m to last year’s £19.3m.

Electrolux’s director Fabio Zarpellon stated in the annual report: “The foodservice business sales performance weakened, reflecting the challenges in a softened market faced by key customer.

“Despite the continued price pressures, the business improved operating profit margin by better product mix and managing costs.”

He added: “The business continues with the strategy to deliver profitable growth through product innovation, operational excellence and be the industry leader in offering sustainable products.”

Tags : ElectroluxElectrolux Professionalfinancial resultsfinancials
Clare Nicholls

The author Clare Nicholls

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