Lincat hits £15m turnover
Lincoln-based Lincat Group has announced a 25 per cent increase in operating profit to £2.6m. The commercial appliance manufacturer also announced a turnover of £15.8m in its half-year results this morning.
The group, which operates under three different companies, increased turnover by 6 per cent compared with its 2009 performance in the same period.
One of the group’s divisions, bar equipment manufacturer IMC, saw sales decline by 10 per cent against the same period in 2009 but still improved its operating profit.
The company said it remained “cautiously optimistic” about its prospects.
Alan Schroeder, chairman of Lincat, said: “The performance of our three operating companies varies considerably, as each of them supplies different products to different segments of the market. There is no doubt that UK macro-economic conditions will remain unfavourable for some time to come, if only because of the impact of future public expenditure cuts and any potential rise in unemployment.
"Notwithstanding these challenges, the group is well positioned to prosper.”
The Lincat Group includes IMC; Lincat, the manufacturer of catering equipment; and Britannia, which manufactures kitchen ventilation canopies.
