Independent salmon farming company Loch Duart has said it invested more than £5 million in developing the business during the 12 months after an “extraordinary” year that saw its profits leap.
Areas that the firm, which has 10 sites in Sutherland and the Outer Hebrides, targeted for investment included research and development across production areas, fish health and welfare, boats and feeding equipment.
The company said as a result of its efforts to tackle disease it was now raising “some of the best salmon” it has ever seen.
After soaring to £8.8m in 2016/17, helped by sustained high fish prices, the company announced pre-tax profits of £3.7m for its latest financial year, which it described as “closer to the sustainable normal range of potential.”
The results, for the 12 months to the end of March, also showed turnover at Loch Duart remained “steady” at £42.4m compared to the previous year’s £42.5m. The company reduced its loans and bank debt by £1m to £1.6m over the period.
Andy Bing, sales director and one of the founders of Loch Duart, said: “While our previous year was an extraordinary period for the farm and no one was expecting to repeat it, Loch Duart still beat budget and made significant investments in the business.
“As seawater temperatures continue to rise, the warmer waters have been impacting on Scottish aquaculture.
“Loch Duart has therefore been investing heavily in a range of approaches to tackle these biological challenges.
“With new feed systems to minimise handling (which causes stress), improved aeration, desalination and an industry-leading cleaner fish team, we are now raising some of the best salmon we have ever seen.”
He added: “Loch Duart salmon is still in high demand with customers around the world, who love the quality and provenance of fish raised in such beautiful, rural locations where we work.”
The average monthly number of employees at Loch Duart was 116 last year compared to 109 in 2016/17.
