Restructuring costs ate into Whitby Seafoods’ bottom line in the year ended 28 December 2025.
The decision to exit non-food manufacuring activities, which included the disposal its fishing business, wiped £1.5m from its balance sheet and resulted in a £1m post-tax loss – a fall of around 160% year on year.
This was part of a goal to create an “efficient, focused and more profitable seafood manufacturing business”, of which Whitby said it was already feeling the benefit.
Outside the exceptional costs, turnover remained strong, growing 6.5% to £70.6m.
Speaking to The Grocer, Whitby Seafoods MD Laura Whittle said 2026 had been a “a breakthrough year for Whitby”.
“By the final quarter, we’ll have secured an additional 20,000 points of retail distribution – the biggest shift in distribution in our trading history,” she added.
The business added that if it hadn’t taken on the exceptional costs it would have had a £0.5m profit, generated an EBITDA of £3.6m and an operating profit of £2.2m.
While Whitby has become leaner and reduced its cost base, the business forecast challenges in 2026 and beyond, including food inflation, cost of living, fuel costs, uncertain macroeconomic conditions and geopolitical instability.
“The management, minimising and mitigation of rising costs will remain key as the group’s business moves forward,” the directors said.
Despite concerns over costs, the business had continued to see sales growth.
“Retailers are recognising a huge opportunity to take frozen seafood beyond the traditional main meal and into the fast-growing world of snacking and lighter meal occasions,” Whittle added.
The company’s bid to take on the burgeoning snacking category saw it reformulate and redesign its Scampi Bites this August. It is also looking to launch them into chillers as Scampi Poppers.
“We believe a whole new generation is ready to discover scampi,” Whittle added. “With its British provenance, high-protein credentials and incredible versatility, scampi is made for modern eating occasions.”
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