A West Midlands coffee machine maker has announced record turnover of £4.1m with a surge in demand set to lead to further expansion overseas.
Birmingham-based Fracino confirmed sales have increased by 14% over the last year, with exports now accounting for 28% of turnover for its espresso and cappuccino machines.
With 4,000 units produced annually with a focus on Italy, the company has found new custom from Nisbets, a catering equipment and supplies company which expanded its output across Europe, Oceania and North America.
The business is looking to build further on this success after pursuing new export markets from January across ten countries including Singapore, Norway and Denmark.
First launched in a garden shed in 1963 by founder Frank Maxwell, the third generation family business has developed five machines in the last five years and expects to unveil a new touch button machine by the end of 2014.
It also expects to increase its 44-strong workforce, with six new appointments expected to be announced across the business this year.
Fracino managing director Adrian Maxwell, a former Rolls-Royce engineer overseeing the company’s growth and innovation, said the last 12 months had made for a ground breaking year.
“The last 12 months have been ground breaking as we celebrated our 50th anniversary with a raft of award accolades, ramped up our manufacturing capabilities by producing our own copper boilers – and maximised international trade opportunities,” he said.
“It’s tremendous that we’re supplying Nisbets which is highly respected as the UK’s largest catering equipment supplier with over 30 years’ experience in serving the catering trade. Ongoing investment in new products and machinery will remain our top priorities over the next 12 months.”