News / Catch doubles profit
LERWICK-based pelagic processor Shetland Catch has more than doubled its profits to £2.6 million in the year to 31 March 2014.
The company said on Friday that it had significantly increased profits on a reduced turnover of £63 million.
Managing director Simon Leiper said: “Despite a reduced turnover of £10 million on last year, Shetland Catch is delighted to have recorded an increase of £1.42 million in profits.
“The 2013 summer herring season was modest, yet relatively successful, while an increased volume of mackerel during a buoyant season – the busiest in 10 years – and a steady market throughout the financial year has led to the notable increase in profits.”
The company has recently undertaken a £1.5 million upgrade of its grading and packing lines.
The investment, the first in eight years, has allowed the company to drop from ten lines to nine, while retaining the same level of throughput.
At the same time, the removal of the tenth line has created space for hand-packing larger mackerel.
Leiper said the new equipment was currently undergoing its first trials with the herring season now underway.
Herring is primarily sold as fillets, and the level of throughput is much lower than mackerel, giving the company the opportunity to fully trial the new equipment and fine tune it before the mackerel season starts later in the year.
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