Inverness fish farm firm AKVA Group nets more profit
Register for free to read more of the latest local news. It's easy and will only take a moment.
Pre-tax profit more than doubled for an Inverness aquaculture technology firm last year.
It came as turnover fell by more than £1 million at AKVA Group in the year ending December 31, 2019 compared to the previous 12 months.
The year was marked by restructuring of the company’s operational team.
A strategic report accompanying the firm’s latest accounts stated: “The expectations for 2020 are initially strong. However, Covid-related challenges in the main shipping goods by air to market, are expected to be increasingly difficult, albeit the salmon price remains strong, a key indicator for our industry.”
Pre-tax profit increased from £42,000 in 2018 to £96,000 last year. For the same period, turnover dropped from £16,373,000 to £14,922,000.
The average number of employees dipped from 74 in 2018 to 71 in 2019, while staff costs decreased from £3,020,000 to £2,938,000.
The ultimate parent company is Egersund Group ASA in Norway.
