Catering equipment-maker Enodis has unveiled a business overhaul that will enable it to pay its first dividend for more than four years.
Enodis said it would repay £100 million of loans to leading creditors and delist from the New York Stock Exchange in a restructuring that will save it around £7.5 million a year.
The move will cost the group £21 million in one-off costs, but will allow it to declare a dividend in November - earlier than expected by analysts.
Details emerged as the London-based firm beat hopes for half-year underlying profits with a haul of £ 15.1 million, up from £11 million at the same stage of 2004.
Enodis has benefited from fast-food chains extending their menus to include healthier food, with a sandwich deli concept being rolled out in outlets of McDonald's in Canada and Australia.
Burger King has bought around 250 state-of-the-art ovens to support the extension of healthy foods on its menus in the UK, with Enodis also eyeing opportunities to sell more refrigerator cabinets for chilled salads.
Enodis has two main divisions - food services equipment, which makes industrial equipment and fryers, and food retail, which supplies chiller cabinets and other retail display equipment.
The firm began a restructuring of its European business last year, including the closure of a factory at Guyon in France, in a bid to improve profitability and save £2 million a year.
Around 140 jobs are being lost across Europe, including 50 posts at its Viscount business manufacturing catering and refrigeration equipment in Sheffield.
However, the job losses in the UK are being largely compensated for by additional staff at its beverages plant in Halesowen, which is taking on work from Germany.
Costs of the overhaul and the sale of its Vent Master business totalled £13.5 million in the first half and meant the company recorded bottom-line losses of £4.2 million against profits of £7.2 million a year ago.