Enodis, the catering equipment maker that last week turned its back on an agreed offer from US rival Manitowoc in favour of an improved £1bn offer from Illinois Tool Works, saw interim profits slip as it absorbed restructuring costs in its US and European operations.

But underlying profits before exceptionals resulting from its cost-cutting programme rose 9 per cent to £32.9m (£30.3m) on revenues that rose 8 per cent to £395m (£365m) amid resilient, if slowing, growth in its core US market.