Waitrose salmon supplier sees margins knocked by high raw material prices

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Scottish company Aquascot was founded in 1987 and is a supplier to the British high end retailer. 

In a report posted in Companies House for the year ended Jan 31st 2018, company turnover rose by 28.4%.

That year’s gross profit of GDP 5.6 million and gross margin of 8.9%, were lower than the previous year’s (GDP 6.7 million and 13.6%).

Aquascot said that the management and the execution of the companies objectives are subject to a number of risks: which were “securing the supply of high quality raw material” and “maintaining first class manufacturing facilities.”

Operational profit was down 57% from 2017’s GDP 2.1 million to GDP 888.5 thousand. The higher cost of raw material was a factor.

The company said that the purpose of Aquascot (“which acts as a hub for its customers”) is “to manage the selection of farmed fish in order to ensure that rigourous and consistant standards of raw material selection are met.”