Scottish salmon farmer named as a leading profit-growing company
Loch Duart Ltd., the independent salmon farming company that produces around 5,200 metric tons (MT) of fish annually, has been placed at number 21 in the latest annual Sunday Times BDO Profit Track 100 and second among the eight Scottish headquartered companies who made the list.
The table ranks Britain’s private companies with the fastest-growing profits over their latest three years.
Alban Denton, managing director of northwest Scotland-based Loch Duart, said the “fantastic accolade” would not have been possible without the “amazing efforts” of the company’s team across the country.
“To be named as a Sunday Times BDO Profit Track 100 company shows how everyone at Loch Duart pulled together following the unavoidable losses suffered in 2014, caused by a jellyfish attack on our fish,” he said. "We believe we have the best fish farming team in the world, producing our extraordinary salmon. We recognized this in 2017 by creating a substantial company profit share scheme resulting in around GBP 750,000 (USD 1.1 million, EUR 861,800) being shared with everyone at Loch Duart."
For the 12 months ended 31 March 2017, Loch Duart achieved a turnover of GBP 42.5 million (USD 60 million, EUR 48.8 million) resulting in profit before tax of GBP 8.5 million (USD 12 million, EUR 9.8 million). These results improved on the previous 12-month period, which delivered a turnover of GBP 26.4 million (USD 37.2 million, EUR 30.3 million) and a loss of GBP 2.4 million (USD 3.4 million, EUR 2.8 million).
The company’s 2016-2017 performance enabled it to re-invest GBP 2.9 million (USD 4.1 million, EUR 3.3 million) in the business during the year and plans a similar level of investment for 2017-2018.