Hans J Marter

6 January 2007

THE MANAGEMENT at Europe’s largest pelagic fish processor is confident to bring the company back into profit this year, as prices for mackerel are looking promising.

Newly appointed managing director of Shetland Catch, Simon Leiper, said the first priority in his new job was to consolidate operations after a difficult and turbulent period.

In autumn last year, Shetland Catch reported losses of more than £3 million for 2005/06, mainly due to very high prices for raw material and uncertainties in the market due to investigations into alleged black fish landings in the Shetland and Scottish industry and the subsequent ban on mackerel fishing early in 2006.

Mr Leiper said markets were showing signs of recovery and he was confident the company could be back in the black soon.

“Finished product prices have become more attractive at consumer level for mackerel again, especially in Eastern Europe.

“Mackerel sales have increased significantly in the last three months due to this and the next 12 months look equally positive, as long as the raw material price stays at its current level,” he said.

Mr Leiper added that the increase in the mackerel quota by 12 per cent for 2007 was additional good news for the sector.

He also said that mackerel was becoming more popular in the UK and the company’s sales team was busy “developing our sales channels there”.

Mr Leiper was appointed managing director just before Christmas after having been the acting MD for a number of months following the departure of Derek Leask from the post.

Mr Leiper joined the company in 1998 as assistant managing director following a three year period as a non-executive director of the company.

Chairman of the board, John Goodlad said Mr Leiper was well known in the industry on a local, national and international level.

He added: "He has already proved that he can run the company and we have every confidence that he is the right person to take Shetland Catch forward."

The board did not appoint a new assistant managing director.