British catering equipment manufacturer Lincat has posted a strong set of financial results for the 12 months ending 30 December 2017.
The Middleby Group-owned company recorded a £44.3m turnover, up 13.4% on 2016’s £39.0m, according to the latest publicly available annual report from Companies House.
Operating profit was also up by 17.7%, from 9.4m to 2017’s £11.0m, while EBITDA margin increased from 26.7% to 27.5%.
Geographically, the vast majority of the firm’s turnover was generated in the UK in 2017, at £38.6m, with the remaining £5.7m coming from exports. However, this represented a 14.3% increase on the £5.0m generated by trade in the rest of the world in 2016.
Staff numbers also rose from 232 to 249 during the latest accounting period.
The directors stated in the report: “As for each year the company has an ambitious target for growth in EBITDA for 2018.
“The directors are confident of achieving the growth required to meet its target, building on the success of new products launched in 2016 and continuing strong growth in sales.”