The UK's Sykes Seafood saw its retail sales offset the loss of foodservice revenue in the coronavirus pandemic, reporting a strong profit for the 15 months to March 28, 2020.
The company reported strong sales and profits for the 15-month period, having changed its accounting period from the calendar year. Sykes reported a turnover of £136.54 million (compared to £104.45m for 12 months to Dec. 28, 2018) and operating profit of £5.57m, compared to £4.23m, for the period, its latest accounts state.
Although the two different accounting periods make a like-for-like comparison challenging, the company's operating profit margin for the 2020 period is 4.08%, compared to 4.05% for the 12 months to Dec. 28, 2018 [...]
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