Loch Fyne aiming to net £500k sales lift

LOCH Fyne Oysters, the employee-owned purveyor of smoked salmon and mussels, is expecting a £500,000 sales boost following the launch this week of two new products.

The Argyll-based firm has signed deals with British Airways and P&O Ferries to use its whisky-flavoured smoked salmon on its menus and will launch a citrus and black pepper variety in Edinburgh on Friday.

Managing director Bruce Davidson said initial demand for the new flavours had been ahead of his sales targets, while the fish had also been used on the "specials" boards in the Loch Fyne Restaurant chain.

While Loch Fyne Oysters is owned by its staff, the restaurant chain was sold off in 2008 to brewing giant Greene King, which also owns the Belhaven brewery at Dunbar.

Loch Fyne Oysters retained a single eatery at its headquarters in Cairndow, where the company also has a shop.

The company sells about 5.5 million worth of smoked salmon each year, accounting for a quarter of its turnover.

Davidson said: "I hope the new lines will be taken up by Waitrose, with which we already have a contract. With both businesses being employee-owned, we feel we make a good team."

Davidson confirmed that the company was about 700,000 more profitable than at the same point last year, which puts it on course to swing back to a 400,000 profit in the year to 30 June, following a loss last year.

Turnover is expected to be flat at about 22m.