Seafood processor and supplier Cumbrian Seafoods has turned a £5.7m loss into a £2.3m profit after taxation over the past year after intensifying its focus on its core domestic business.
The company, which supplies chilled seafood to the major multiples, posted a £155.5m turnover for the year to 28 March, up from £146.1m, according to results filed at Companies House this week.
Its operating profit was £3.3m, compared with a loss of £3.6m in 2009.
Much of the success was down to its UK business, which saw turnover increase from £141m to £153.4m, while its sales for its European business fell from £5m to £2.1m.
The company said it had benefited from a recent reorganisation of its manufacturing facilities, which had cut overheads, and a new focus on operational control and staff development.
"The company is now well positioned to achieve profitable growth," its directors said.
Following the reorganisation, Cumbrian Seafoods had 719 employees at the end of March, down from 749 a year earlier. In August 2009, the company sold smoked salmon arm Grants Smoked Foods.
The company, which supplies chilled seafood to the major multiples, posted a £155.5m turnover for the year to 28 March, up from £146.1m, according to results filed at Companies House this week.
Its operating profit was £3.3m, compared with a loss of £3.6m in 2009.
Much of the success was down to its UK business, which saw turnover increase from £141m to £153.4m, while its sales for its European business fell from £5m to £2.1m.
The company said it had benefited from a recent reorganisation of its manufacturing facilities, which had cut overheads, and a new focus on operational control and staff development.
"The company is now well positioned to achieve profitable growth," its directors said.
Following the reorganisation, Cumbrian Seafoods had 719 employees at the end of March, down from 749 a year earlier. In August 2009, the company sold smoked salmon arm Grants Smoked Foods.
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