Lunar turnover up 16% as fishing 'buoyant'

LUNAR Fishing Company has recorded a 16 per cent rise in turnover to £67.1 million following continued growth in the Peterhead group's fish processing operations.

Accounts filed at Companies House show that pre-tax profits at the company - which operates fishing boats, processing plants and refrigerated lorries - rose from 7.9m in 2008 to 8.9m in 2009.

But a 9.4 per cent rise in administration costs took a modest bite out of the gross margin, which fell from 13.76 per cent to 13.23 per cent.

Director Alexander Buchan said a near-20 per cent rise in operating profits to 6.5m represented a "satisfactory" performance for the group.

Lunar has five boats operating in the North Sea and one in Nova Scotia. The fleet catches white fish and pelagic fish, including herring and mackerel.

The group also owns Peterhead-based Ugie Salmon, which smokes salmon and trout.

Buchan said: "The commercial environment for pelagic fish continues to be buoyant and the group is well-placed to take advantage of this, having made substantial investment in both the catching and processing sectors on the industry.

"The white fish sector continues to experience difficulties with quota allocations but again the group - having made substantial investment - is well-placed to meet the challenges."

A dividend of 644,500 was paid and the group made charitable donations of 66,700.