NEW England Seafood International has heaped praise on its Grimsby acquisition which took it into white fish processing and has helped to dramatically push up sales.
The Chessington, Surrey, based company took over Albert Darnell in October 2016 as part of a strategic move to create greater capacity for future development.
Up to that point it was mainly involved with providing leading UK supermarkets with wild salmon, tuna and sea bass. Now it is into cod, haddock and other white fish following a £2 million investment at its new Grimsby acquisition.
New England Seafood, a UK business despite its US sounding title, has just published its annual accounts for 2017, in which it reports an increase in turnover from £114,683,000 in 2016 to £151,467,000, an impressive rise of 32 per cent.
The profit after tax came out at £3,230,000 compared with £3,910,000 12 months earlier, but most of this was due to the cost of integrating Albert Darnell into the main business.
The company is reported to have recently won a £30 million Asda contract, previously held by Young’s Seafood.
Chief executive Daniel Aherne said: ‘The group has had a successful year. We broadened our understanding of our consumers, and using this knowledge we developed our product offering to match more closely their desires with the species we choose to supply.
‘We have worked hard to introduce change into this business, which was loss making on acquisition and throughout much of the year, to build its team and make its controls, processes and systems more relevant to the current market.
‘Our £2 million investment during the year in this business represents both the trading losses and the costs of improving the infrastructure.’
Aherne added: ‘There is still much to do but we are happy to have reached a trading position by the year end. The Grimsby facility is now an important part of the group, recognised by customers for highly efficient production operated by a team of people who can be relied upon to provide the expected high level of service.’
The CEO said he was convinced that the investments will enhance New England Seafood’s future ability to show people how to enjoy its fish every day.