St James Smokehouse shelves new plant due to “Brexit complications”

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Scotland and US smokehouses posted decrease in earnings which it said it was down to, in part, to increase in raw materials. 

St James Smokehouse posted its annual report dated 31st December 2018.

The family-owned smokehouses has a site in Annan, South West Scotland as well as a sister company with a purpose facility in Miami, Florida, USA.

It said that 2018’s income took a downturn because of an increase in raw materials.

Turnover went from from GBP 15.6 million in 2017 to GBP 14.6 million in 2018, a 6 per-cent decrease.

It attributed this to changing attitudes in the Asian market and added that UK income had also as a major supermarket had threes areas pulled and product sales prices deterred some customer.

It added that the first half of 2019’s income had increased compared to last year by 9.4 per cent.

Its two main income streams come from North America and Europe – but said that large promotions in national supermarkets within the UK should boost revenue.

Gross profit fell by 28 per cent from 2017 to 2018.

 

St James Smokehouse added that in 2017, it purchased a site in Gretna with the intention of creating a new bespoke ,state of the art production factory. “Unfortunately, with the advent of Brexit an the associated complications/delays it produced, St James Smokehouse (Scotland) ltd has taken the decision to repurpose the plant and machinery purchased during 2017 and 2018 at a cost of one million pounds to be used at the Annan site,” it wrote.

It added that it had spent GBP 956,000 on a new filleting line to replace the old one.