UK processor Young’s Seafood reported a turnover of £495 million (€579.4 million/$619.5 million) and earnings before interest taxes, depreciation and amortization (EBITDA) of £23 million (€26.9 million/$28.8 million) for the year ending September 2016, amidst “an extremely difficult trading environment."
The company’s turnover fell 15.8 percent for the 12 months, compared with £587.9 million (€688.2 million/$735.8 million) a year earlier, while EBITDA fell 38.5 percent compared with £37.4 million (€43.8 million/$46.8 million) in 2015.
“We have had a solid performance with EBITDA delivery in line with plan, in an extremely difficult trading environment,” said Bill Showalter, CEO of Young’s Seafood Limited.
“Following developments in our chilled business, we successfully restructured our manufacturing and overhead costs ahead of plan.”
Showalter
