Average weekly sales up 7 per cent for Grimsby fish giant.
Sales of £571 million were recorded by Young’s Seafood, as the Grimsby-headquartered processor brought in a £21.3 million profit, turning round a £10.1 million loss.
According to the company’s annual report, published on Wednesday, weekly sales were up from £10.45 million over the previous extended year’s accounts to £11.2 million.
In the report accompanying the results, chief executive Simon Smith outlined “significant operational improvement across the company, delivering value to both the company and its customers.”
Smith credited long-term partnerships for the company’s resurgence: “through a competitive offering of quality products and good customer service across multiple categories,” and highlighted the investments in advertising to drive consumer awareness of the Young’s branded products.
Smith, who joined from rival Hilton Seafoods, said: “Young’s Seafood is well placed to deal with the strong competitive pressures that characterise the UK seafood industry and is preparing for significant further growth in the years to come under the ownership of Sofina Foods.”
“Sofina Foods is one of Canada’s leading manufacturers of primary and further processed products for both retail and foodservice customers.”