Iceland Seafood UK lost £16 million in 2022, accounts just published have revealed.
The Grimsby-based business, which remains part of Iceland Seafood International after two aborted sales attempts, was hit by increased input costs, having been unable to pass soaring inflationary pressures on to customers. Earlier this month, chief executive Bjarni Ármannsson told how almost 200 jobs were being safeguarded as it vowed to continue operations, having won significant new work.
Now the company looks set to hit positive cash flow in the second quarter of the year, turning a huge corner with the wins, although a further £2.5 million to £3 million loss is eyed in the current financial year with the retail contracts yet to kick in.
