Grimsby seafood giant Seachill saw sales grow as margins tightened, latest financial results have revealed.
The business, which trades under the Hilton Seafood UK name following a buy-out by the Cambridgeshire FTSE-listed meat processor, saw an 8.3 per cent increase in turnover, from £332.4 million to £346 million. It mirrored growth in 2019.
Profits dipped from £8.6 million to £8 million, with employee numbers up just over 100 to 1,201.
Read more: Seafood sector welcomes further border controls delay for post-Brexit import checks
In his strategic report accompanying the results, signed off last week and just published, Lee Gibson, finance director, said: “Trading during 2020 was overall strong, influenced by the impact of the Covid-19 pandemic on shopping patterns.
“The business continues to innovate and invest which enables new business to be won. New technology has been invested in both infrastructure and processing which will enable the business to continue to take the lead on the efficient manufacturing of seafood products.”
Seachill operates from two sites straddling the A180 entrance to Grimsby, on Great Grimsby Business Park and South Humberside Industrial Estate.
It also operates smoking facilities in the town.
Elaborating on the Covid measures undertaken by the business, Mr Gibson said: “We established business continuity and flexible buy models and supply options, which meant that we continued to play our part in feeding the nation and supporting ongoing demand. The dedication and resilience of our teams was tested and we responded to these challenges.”
Additional temporary labour resourcing and daily contact with supply chain for both seafood and packaging, played a key part.
On Brexit, with the latest supply chain impacting deadlines pushed back from this month to January and July next year, Mr Gibson said the company continues to work with industry bodies and government forums on developing mitigations for Brexit-related risks as they arise, with grace periods and deferments having changed the timeline.
“Engagement with key internal and external stakeholders remains a vital process in managing the potential financial and operational impacts from border delays, and increased friction to trade. As the post-Brexit landscape develops, the company remains proactive in reviewing raw material sourcing from regions and transport routes. Overall we still believe that the company is sufficiently resilient to withstand these uncertainties whilst minimising disruption.”
Beef-focused Hilton swooped for Seachill in 2017 as it approached 20 years of retail service, with the Huntingdon-headquartered international operator diversifying its protein offering.
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