Higher earnings and costs for New England Seafood International

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“We continue to have a laser focus on controlling our costs.”

In an update on companies house, Grimsby and Surry based fish processor New England Seafood International (NESI) posted its annual reports for the year ended 31st October 2018

Turnover was GBP GBP 161 million, up from 154.8 million in 2018. Operating profit was GBP 5 million in 2019 (GBP 5.6 million in 2018).

NESI which processes wild and farmed salmon, as well as other species, acquired Albert Darnell, one of Grimsby’s leading fish processors, in 2016.

Rival Young’s fought off competition from NESI in 2019 to retain its salmon contract with Asda, which Grimbsby Live reported was worth with GBP 80 million.

“We continue to have a laser focus on controlling our costs. We incurred exceptional costs to ensure that our structures continue to be fit for the conditions in which we operate,” said Dan Aherne, group chief executive of New England Seafood International.