Profits take a dive at fish processing business Smales

Pre-tax profits have taken a dive at Hull-based fish processing business Smales.

Profits dipped from £1.34m in 2015 to £230,240 for the year to August 2016, and turnover dipped to just above 2013 levels, reaching £84.5m, down from £96.2m the year before.

Registered as F Smales & Sons, the company specialises in processing and distributing seafood to the fish and chip and food service sectors.

Tim Smales founded the business in 1937, and it now employs 200 people from its base on West Dock Street.

The company said it was investing in operations and now offered next day delivery to UK customers.

No dividends were paid during the year, but in 2015 managing director Lee Smales and director Simon Smales received dividends of more than £420,000.