UK seafood processor Nolan Seafoods takes substantial earnings hit

UK whitefish and salmon processor Nolan Seafoods posted a disappointing financial year, with a substantial drop in both revenue and profits.

The company recorded a loss for the year ending March 31, 2019 of £816,000 (€959,000/$1 million), down from a profit of £167,000 (€196,000/$220,000), the year prior.

Revenue fell 8 percent to £20.4 million (€24 million/$26.8 million).

Since the year end, the company's directors have increased prices and are improving production processes by installing a new packing line and mechanical filleting machine.