Young’s re­ports big rise in Q3 turnover

Fish Farmer - - Processing News -

YOUNG’S Seafood has an­nounced growth in turno ly due to the cap­ture of some new con­tracts.

The com­pany has so far de­clined to name its ‘new busi­ness win’ but this is widely be­lieved to be the 488-strong sand­wich bar and restau­rant chain Pret a Manger.

30) was £131.9 mil­lion, an in­crease of 11.6 per cent year on year and an in­crease on the pre­vi­ous quar­ter’s sales. Earn­ings be­fore in­ter­est, tax, de­pre­cia

Bill Showal­ter (pic­tured), who took over as CEO in January, said: ‘Top line pro­gres­sion in­clud­ing con­tract wins, along abil­ity tar­get. This was an­other quar­ter of year on year sales growth across both frozen and chilled tem­per­a­ture regimes. ‘A new busi­ness win has been achieved in one of our tar­geted growth chan­nels, food ser­vice, which in­cludes a food ser­vice con­tract with a ma­jor fast food re­tail com­pany.’ Grimsby based Young’s is also look­ing over­seas for rec­tor and a deal with a US re­tail source is thought to be close.

Above: Bill Showal­ter

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