Posts Tagged ‘Young’s Seafood’
Fish Update Briefing, Friday, October 12
LEROY PREDICTS LOWER Q3 HARVEST LERØY Seafood Group has forecast lower harvest volumes for the third quarter of this year. In its latest trading update, the Norwegian fishing and aquaculture company says it expects harvest volumes for salmon and trout to be 37,22 tonnes for the period between July and September, compared with 46,024 tonnes…
Read MoreYoung's Q3 operating profit up 29 per cent
YOUNG’S Seafood has just announced a 29 per cent rise in operating profits for the third quarter of its financial year, in what it describes as a challenging market. The company reported a turnover of £135.3 million and an EBITDA (earnings before interest, tax, depreciation and amortisation) of £6.7 million, a near 30 per cent…
Read MoreThree-way bid for Young's Seafood
THREE businesses are bidding to buy Young’s Seafood, including one of its former owners, weekend reports have suggested. The Sunday Telegraph said yesterday that the £200 million sale of Britain’s largest frozen and chilled seafood company was nearing completion. The current private equity owners, led by Lion Capital, announced in April that they were putting…
Read MoreGrimsby firm boosts New England sales
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…
Read MoreGas leak at Young's factory
A MAJOR emergency was declared at the Young’s Seafood processing plant in Kilkeel, Northern Ireland, late yesterday after 14 people were taken to hospital following a suspected ammonia leak. Two were detained and are said to be in a stable condition. It happened as workmen – not thought to be Young’s employees – were carrying…
Read MoreYoung’s buys site for Grimsby expansion
YOUNG’S Seafood is thought to have spent more than £1 million buying a 13-acre site in Grimsby in readiness for future expansion in the town. The land is a former cold store and logistics base less than two miles from its main fish dock production factories. The site was on the market at £1.5 million,…
Read MoreYoung's wins major contract renewal
YOUNG’S announced at the weekend that it has won a substantial contract renewal and expansion to supply a leading sandwich chain with salmon. The chain has not been named but is thought to be Pret a Manger, which has more than 320 outlets in the UK and 500 plus in eight other countries worldwide. The…
Read MoreYoung's breaks half billion pound barrier
YOUNG’S Seafood today announced a 5.4 per cent increase in turnover and an operating profit of £8.4 million for its financial year to September 30, 2017. The turnover went up from £496.5 million to £523.3 million during the year – and that was before its entry into the United States market had fully come into…
Read MoreFirst Pinneys redundancies begin
WITH the first redundancies at Pinneys of Annan already underway, demands are growing for the Scottish government to produce immediate cash help for the 450 people who are to lose their jobs. It is almost three months since Young’s Seafood announced it planned to close the site by the end of the year, moving fresh…
Read MoreUS seafood imports at record high
AMERICANS ate more imported seafood last year than at any time in the past, new figures show. The National Oceanic Atmospheric Administration (NOAA), which monitors and regulates the nation’s fishing and aquaculture sector, said seafood imports hit record levels in 2017. The total volume was six billions pounds, worth $21.5 billion. Conversely, the US exported…
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