The boss of Nolan Seafoods (UK) has said the company has “exciting” plans for its Aberdeen processing factory.
George Nolan, chairman of the firm’s Dublin-based parent, said it had made good progress replacing a £10million supply contract lost last year and was making significant investment.
Mr Nolan declined to give any further details about what is proposed for the facility in West Tullos, but said the plans would be implemented over the coming six months.
Nolan Seafoods (UK) lost the contract to supply salmon to the UK operation of US-based retail giant Costco Wholesale in the summer of 2016.
At the time, it was feared the blow would lead to the axing of up to 80 people from its Aberdeen workforce.
But the job losses amounted to 47, taking the average month number of people the firm employs to 205, according to annual accounts for the year to the end of March released by Companies House yesterday.
The firm’s factory staff was reduced by 46 and one administrative post was lost.
The figures also show the company’s turnover fell to £26.8million, compared to £31.6 million the previous year. Pre-tax profits slid to £810,538, from £1million previously.
Mr Nolan said the company was “pretty satisfied” with the results from a “tough year” that also included the impact of the Brexit vote and a subsequent drop in the value of sterling.
He added: “We lost the £10million Costco contract but we have replaced it with about £6million of other business.
“It was a pretty satisfactory year for us. If you look at our figures, we have made more money in the last two years than in the last 10.
“We are making investment and have exciting plans.”
The firm’s annual accounts also noted “extremely volatile” salmon prices, which contributed to “challenging” trading conditions in 2016/17.
The parent company, HJ Nolan (Dublin), was established by Mr Nolan’s grandfather, Harry Nolan, more than 100 years ago.
It now employs nearly 300 people in Ireland and Scotland, the majority of them on this side of the Irish Sea. The Aberdeen plant, set up in 2002 in West Tullos Industrial Estate, is one of the largest processing facilities in the north-east.
Earlier this week, it emerged that Derek Hutchins, previously managing director at Nolan Seafood’s in Aberdeen, and another former director, Michael Leiper, were behind ambitious plans to revive a mothballed seafood factory in Fraserburgh.