Alness fish processor Aquascot posts increased pre-tax profits as it rides out coronavirus storm
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Directors of an Alness fish firm believe it is ideally positioned to manage the economic risks posed by coronavirus.
Aquascot made the claim after pre-tax profit and turnover increased last year.
The firm’s latest accounts cover the year ended January 31, 2021.
A directors’ report accompanying the firm’s latest accounts stated: “The business has weathered the economic challenges faced by the industry over the last three years and is ideally positioned to manage the economic risks posed by Covid-19.
“The business will continue to invest in its products, employees partners, equipment, processes and infrastructure and is confident it will deliver against its own five-year business plan.”
Turnover increased from £65,086,047 in 2019/20 to £69,295,284 for the latest 12 months.
For the same period, pre-tax profit increased from £1,133,528 to £1,702,151.
A strategic report stated: “The directors believe the company responded positively in challenging market conditions and has made significant advancements during the year. Continuous improvement remains a key focus and driver for the business. New projects and initiatives are being enacted and further progress is expected in the year ahead.”
It added: “Since March 16, 2020 the company has been operating within parameters of the Covid-19 pandemic. The company has considered the risks presented by the pandemic, with a primary focus on employee partner safety and the ability to maintain production volumes.
“Production operations during the Covid-19 pandemic have been evolving on a daily basis and the company have followed all government and industry body guidance on safe-working practices.
“The company have introduced a number of additional hygiene procedures, social-distancing measures and enabled employee partners to work from home where practical to do so.
“Since March 16, the senior leadership team have met on a daily basis to review all government and industry body guidance to ensure that Aquascot employee partner safety and wellbeing is at the forefront of all decisions taken in relation to Covid-19.”
The average number of employees increased from 179 in 2019/20 to 188 last year, while staff costs increased from £5,319,828 to £6,011,959.
