North-east seafood processor Macduff Shellfish Group (MSG) has reported a return to profitable trading.
The Mintlaw-based company made pre-tax profits of £847,200 during the year to September 30, 2014, against losses of £1.5million in its previous accounting period from March 31, 2012 to September 30, 2013.
Turnover for 2013/14 came in at £46.2million, against £55.9million in the longer 2012/13 period.
The accounts – just released by Companies House – also show the group employed nearly 280 people on average in 2013/14, up from 228 previously.
MSG’s best paid director received remuneration and pension contributions worth a total of £228,172 during the latest period, compared with £311,341 last time.
The group is controlled by the Beaton family and Luxembourg-based investor Alba Luxco.
A 2011 buyout of the Macduff business, currently celebrating its 30th year, by senior bosses and new investors under the name MSG was worth £34.2million.
On Thursday, the group said it had snapped up a shellfish trading business and four scallop fishing vessels from the Exeter-based Greendale Group in order to gain a foothold in south-west England.
MSG sells shellfish in the UK and the rest of Europe as well as to markets in the Far East.
In its accounts, it said it was continuing to perform strongly in key markets despite “ongoing economic challenges” in the eurozone.