UK seafood supplier Sykes Seafoods reported a significant increase in its earnings in 2016 as factory investments and saving initiatives started paying off.

The Liverpool-headquartered company's net profit rocketed from £339,000 (€390,358/$419,546) to £6.1 million (€7 million/$7.5 million) year-on-year, while earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 430 percent to more than £6.6 million (€7.6 million/$8.2 million).

Gross profit for the year reached £15.2 million (€17.5 million/$18.8 million), which was up from £10.5 million (€12.1 million/$13 million) reported a year prior.

Turnover