Gael Force reports turnover up 14% for 2022
Scottish-based marine supplier Gael Force has reported that its turnover for 2022 was up by 14% year on year, thanks to a policy of investment in skills and technology through difficult times in the previous two years.
Gael Force, a key supplier to the Scottish aquaculture sector saw turnover of £27.04m for the year ended 31 December 2022 (2021: £23.7m). The company went from a loss of £1.1m in 2021 to a pre-tax profit of £885,928. The figure for creditors as at 31 December 2022 was £840,201 – down from £2.5m the previous year.
The company also saw the number of employees fall from 205 to 186. In the company’s strategic report, the directors said that a strategy of continued investment despite reduced demand in 2020 and 2021 had paid off, adding “We built one of the strongest order books in our history.”
The company’s SeaQure system of cages, pens and moorings for aquaculture had proved successful, the company said. Earlier this year Gael Force announced it would be working with Cunningham Covers, a Northern Irish manufacturer specialising in protective covers and containment, and Italy’s Serge Ferrari, a global leader in flexible composite materials, on a new range of semi-closed cages.