Middleby grows margins

Middleby Corporation told investors yesterday that it is well-placed to increase its manufacturing capacity and achieve improvements in production efficiencies after delivering record fourth quarter results.

The owner of brands such as TurboChef, Pitco and Lincat notched up group sales of $1 billion (£828m) during Q4, a 19% increase on the previous year and 14% organically.They have managed to achieve margin expansion over the previous year and sequentially from Q3 as a result of pricing, shifting its product mix towards higher technology solutions and disciplined cost control.

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