Sykes Seafood hooks higher earnings

MANCHESTER seafood supplier Sykes Seafoods recorded a rise in sales and earnings last year.

The business, founded in 1862, supplies fish and chip shops across the North West, operates a wholesale division and runs a fish market in east Manchester.

Sales during the year to December 2009 rose 14.5% to £43.3m and pre-tax profits jumped from £86,431 to £209,600.

In their report the directors described the results as, “satisfactory given the difficult trading and economic conditions”.

The company employed 65 staff during the year, down 11% from 73 in 2008. Secured debts rose 20% to £5.4m due to an extension to the bank overdraft from £245,633 to £1.4m.

Over recent years the company has invested in new cold storage and office facilities and upgraded its refrigerated transport fleet with new articulated lorries and Mercedes Benz Split-Temp vans.

The business is controlled by managing director Martin Sykes and a D Sykes. Mr Sykes could not be reached for comment.