Scottish small-scale salmon farmer Loch Duart Ltd. has posted substantial declines in annual turnover and pre-tax profit, citing increased biological pressures for the downturns.
In its accounts for the 12 months ending 31 March, 2019, the independent Sutherland- and Hebrides-based company achieved a turnover of GBP 34.6 million (USD 45.5 million, EUR 40.6 million), down from GBP 42.4 million (USD 55.7 million, EUR 49.8 million) in the previous financial year. At the same time, its pre-tax profits fell from GBP 2.6 million (USD 3.4 million, EUR 3.1 million) to GBP 1.1 million (USD 1.4 million, EUR 1.3 million).
During the 2018/19 financial year gill health challenges – exacerbated by the long, hot summer of 2018, which saw negligible rainfall – affected the performance of one its farm sites in particular, impacting turnover, Loch Duart said.
Reduced pre-tax profits also reflected this situation, while the budgeted-for reduced harvest volumes were also a contributing factor, it said.
The company has made adjustments to its stocking plans to be better positioned to grow its volume in future years, according to the company. It has also invested further in gill health solutions.
Loch Duart praised the commitment of its staff to overcome the “challenging summer of 2018,” and said these endeavors enabled it to again pay a company-wide bonus.
The business traded profitably in 2019 and is benefiting from the changes implemented in the prior financial year, it said.
Photo courtesy of Loch Duart Ltd.
