Loch Fyne Oysters posts £938,118 net loss

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But there has been pick up in demand in UK.

Loch Fyne posted its results for the year ended 31st of October 2020.

The Argyll, Scotland, company is a high-end smoked and fresh salmon (and other seafood) supplier to Michelin restaurants, as well to retailers Selfridges, Globus and Waitrose.

The company created the Loch Fyne Restaurants chain, which was later sold to the pub chain Greene King.

The group had an operating loss of GBP 0.7 million, the same as the year before. Turnover was GBP 11 million, down from 2019’s GBP 16.4 million. It had a GBP 0.9 million net loss, down from 0.7 million the year before.

Loch Fyne wrote that its export sales to airline and event caterers decreased significantly as a result of restrictions. Though the group has seen a pick up in demand in the UK. International foodservice trade is starting to recover but airline and event catering “remains depressed,” the company wrote.

MD Colin Cameron. PHOTO: Loch Fyne Oysters

Looking ahead, director Cameron Brown said that “our retail sector trade has grown very well, correcting a historical imbalance and this, along with North America, will continue to the main business development focus”.

He added that the availability of staff has now become “a major issue for the industry with the potential to constrain further recovery and growth in the very short term”.