Lincat parent reports uptick in sales

The Middleby Corporation, owner of British manufacturer Lincat and other catering equipment brands, said renewed spending from chain restaurant customers had boosted its top-line performance during its most recent quarter.

First quarter sales from the company’s foodservice equipment division increased almost 9% year-on-year, and 11% year-on-year without the impact of acquisitions.

Selim Bassoul, chairman and CEO of Middleby, said: “In the first quarter, at our Commercial Foodservice Equipment Group, we realised continued growth reflecting increased sales with chain restaurant customers as they upgrade equipment and adopt new technologies to improve the efficiency of store operations. Additionally, we continued to realise international sales growth due in part to our continued investment in emerging markets.”

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Including sales from its food processing division and residential kitchen equipment group, Middleby made overall sales of $327m (£213m) for the three months to the end of March, a 43% improvement on the previous year or 11% without the contribution of acquisitions.

Gross profit increased 39% year-on-year to $121m (£79m), excluding the impact from the acquisition it made of Viking Range Corporation last year.

Other brands in the Middleby stable include Britannia, CookTek, Houno, IMC and Turbochef.

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