Shrimp, pelagics help nudge UK distributor’s top, bottom lines in right direction
Success in key species helped UK meat and seafood distributor Mardon to increase its sales and profits in the year ended Sept. 30, 2017, managing director Mark Donoghue told Undercurrent News.
The firm consolidated growth seen in the previous year, both in the UK and abroad, it noted.
Donoghue commented only to note that “we managed to get our timing right on shrimp; pelagics were a bright spot, whilst everything else remained flat”.
Turnover rose 6% to £17.07 million, taking gross profit up 12% to £2.2m.
Sales within the UK actually fell from £5.3m to £4.8m, but sales overseas offset this, rising from £10.8m to £12.3m.
Overseas sales may still be growing as a result of Mardon establishing a Shanghai office in 2016. The company already had salespeople in the UK, and France, as well as processing operations in Qingdao, China, Donoghue told Undercurrent in 2017.
Operating profit rose from £628,895 to £695,884, while bottom line profits rose from £440,109 to £501,667.