Sales rise but profit dips at Andrew Marr International

The company saw turnover rise by 1.6 per cent to £511.86m in the year to the end of March 2015, from £503.85m the year previously. Meanwhile, pre-tax profits dipped to £17.9m, down from £18.3m in its 2014 financial year, according to accounts filed at Companies House.

The group, which is based in Hessle, is involved in a broad range of marine and shore-based activities including seafood trading and marketing, fishing vessel investment and management, ice manufacture, temperature controlled storage and food manufacturing.

The group said it has “maintained its position in key strategic markets” in the year.

Andrew Marr International (AMI), whose history stretches back more than 100 years, added in its directors’ report: “The directors consider that the group will continue to trade profitably in the future.”

AMI has extensive worldwide fish trading interests through its subsidiaries.

Today the company buys and sells fish all over the world with great strengths in the West African market.

The report said: “The key business risks affecting the group are considered to relate to competitive pressures on the sourcing of products, and market/political risks in the group’s key areas of operation.”

This is likely to refer to the Nigerian central bank banning importers from using the foreign-exchange market for goods, including fish, as it seeks to conserve external reserves and stabilise the national currency. The ban, which has been in effect since 2014, has caused concern within the industry.

AMI’s subsidiaries work across all sectors of the industry from logistics and sourcing to trading and distribution.

The group also operates a fleet of fishing vessels based in Fraserburgh and Peterhead in Aberdeenshire.

The two main divisions of the AMI group are J Marr (Seafoods) and Fastnet Holdings.

Fastnet, which AMI acquired in 2004, processes, imports and sells fish products, and experienced growth in all areas. The group saw its turnover rise by 9.5 per cent to £110.76m for the year from £101.18m in 2014. Pre-tax profit rose to £2.28m in 2015, up from £1.99m.

J Marr (Seafoods), which was founded in a former net loft on St. Andrew’s Dock in Hull in 1979, is in the business of procuring and trading frozen pelagic fish species. Its main markets include West Africa, Eastern Europe, the Middle East and the Caribbean.

The company reported little change over the year in turnover and pre-tax profit, which stood at £358.36m (£358.68m) and £6.7m (£6.4m), respectively.

J Marr Seafoods re-opened its Hessle office in February last year after an extensive refurbishment project. It also has offices in the UK, Norway and China.

AMI employs 258 staff in production, selling and distribution and sales and other administration. It said it made local charitable donations during the year totalling £93,000, more than double the £44,000 made in 2014.

The company was number 35 in The Yorkshire Post’s Top 250 Companies in Yorkshire 2015. AMI did not respond to The Yorkshire Post’s request for an interview.