UK smokehouse Severn and Wye Smokery achieved a turnover of £40.4 million (€50.9 million/$63.5 million) in 2014, up 24.5 percent from £30.5 million (€38.4 million/$47.9 million) reported the year before, due to increased fresh fish sales.
However, gross profit dropped to £4.7 million (€5.9 million/$7.4 million), compared to the previous year’s total of £4.9 million (€6.2 million/$7.7 million).
Operating profit dropped to £790,000 (€997,657/$1.2 million), a 60 percent decrease from the previous year’s total of £1.2 million (€1.6 million/$2 million).
Richard Cook, director at the company, said the decrease of return on capital was a result of increased salmon prices and additional overhead expenditure incurred during the year.
“As
