Hull seafood giant Andrew Marr International saw revenues storm back post-Covid, overtaking the year leading up to the global pandemic by some considerable margin.
A turnover of £836.1 million has been recorded by the Hessle-headquartered vertically integrated operation, which has interests in catching, processing, storing and distribution. It was up 24 per cent from £672 million, and 12 per cent higher than the £744 million it reported for the year that ended as lockdowns began.
The latest period - the 12 months to April 2022 - saw profits up 18 per cent, from £14.6 million to £17.3 million.
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Chair, Alexander Marr, said: “The board is pleased to report another year of further progress across all of our businesses with strong profits and underlying operating cashflows, which have enabled further business investment.
“The group continues to invest in its fish catching operations in the UK and remains supportive of appropriate fishery management measures to ensure long term sustainability of fish stocks.”
Its Grimsby-based Fastnet business,which trades frozen seafood in the UK, Europe and Far East “recorded a good result in the year despite challenging trading conditions and significant inflationary pressures in seafood products”. Mr Marr said: “The business has continued to expand its product range in the period, in both retail and food service sectors, and is well positioned for the future.”
Range expansion was also evident in the J Marr Seafoods export business, focused on pelagic fish, meat and poultry supply to sub-Saharan Africa.
Domestically, Mr Marr said: “Our Marrfish business delivers prime quality seafood to premier eating outlets in London and the home counties. After a difficult prior year due to the widespread shutdown of hospitality as a result of Covid-19, Marrfish rebounded well and delivered a strong result for the year. Our temperature-controlled storage business, AJK, performed well in the year, with focus on the retention of key accounts, maintenance of our facilities and cost control.
“The board looks forward to the future with confidence.”
Employee numbers were down from 315 to 286, although there was a slight increase in staff costs reported.
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