Big jump in Gael Force profits in 2017
Inverness-based aquaculture supplier Gael Force Group increased pre-tax profits nearly four-fold to £1.6 million in 2017 on turnover that rose from £17.2m to £24.1m, according to its annual accounts.
Its biggest single order in 2017 was to build and supply concrete feed barges to Scotland’s biggest salmon farmer, Marine Harvest, according to a report in The Press and Journal.
It had an average monthly workforce of 161 in 2017.
Gael Force managing director and owner, Stewart Graham, told the newspaper: “Last year was undoubtedly hugely successful for Gael Force Group as our financial results show. Our determination to innovate and collaborate with our customers is driving an increasing demand for our growing product and service range.”
Investing significantly
He added: “We continue to build on the success of last year by investing significantly in capacity expansion, R&D and innovation in our equipment and technology offering.
“Our long-term vision is to grow Gael Force into a world-class Scottish company. We have skilled and resilient teams across our group who have been vital in enabling us to achieve ambitious targets.”
In the strategic report section of the accounts, the directors report the purchase of a controlling interest in net-pen maker Fusion Marine. They say they see considerable potential for long-term growth in the group’s key markets and will continue to target resources on those opportunities which deliver the best long-term growth.
