Alness-based Aquascot posts pre-tax profit figures and assesses impact of coronavirus crisis on business
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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 decreased last year.
The firm’s latest accounts cover the year ended January 31, 2022.
A directors’ report accompanying the figures 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 decreased from £69,295,284 in 2020/21 to £63,591,934 for the latest 12 months.
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For the same period, pre-tax profit decreased from £1,702,151 to £413,115.
A strategic report stated: “As in prior years, the directors continued to reinvest operating profits in product and market development, employee partners and process improvements. In line with the experiences of other food manufacturers, during the Covid-19 pandemic, the company has continued to experience increased hygiene and partner safety costs.”
The average number of employees increased from 188 in 2020/21 to 193 last year, while staff costs increased from £6,011,959 to £6,277,711.
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