Norfolk-based refrigeration equipment manufacturer, Precision, is to increase its prices for the first time since January 2015.

Precision’s move is the latest from many suppliers, including Scotsman/Hubbard and Hobart, who are all feeling the pressure of plummeting exchange rates for the Pound.

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The company stated: “It’s not a decision we’ve taken lightly, but our hand has been forced by dramatic increases in component costs caused by the Brexit vote and the subsequent weakness of Sterling.”

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However, it added: “The good news is that we have kept the rises to an absolute minimum – plus, we’ve maintained our legendary build quality, with stainless steel construction throughout.

“And, with our new upgraded, energy-saving MEPS products, Precision continues to offer the best value quality refrigeration on the market.”

The price rise takes effect as of 1 December, but all new quotes will be issued using the new price list as of 1 November.

Once the new price list has been finalised, dealers will be able to download it.