The UK fishing fleet has seen a turnover of £1 billion for a second year, although external factors such as fuel cost, weather and the political landscape mean its profits have fallen slightly.
The 'Economics of the UK Fishing Fleet 2018' published by Seafish - the public body that supports the £10bn UK seafood industry - shows that turnover remained at the £1 billion mark while operating costs were £759 million, an increase of 2% on the previous year.
Commenting on the results Steve Lawrence, economics project manager at Seafish, said, “In the light of increasing operating costs and various factors largely beyond the control of the industry, these figures represent another solid year for the UK fishing fleet.”
The sector saw a total operating profit of £268 million which was 4% lower than in the previous year, largely attributable to an increase in fuel costs and a 5% loss in days at sea thanks to the ‘Beast from the East’.
Fishing income remained largely unchanged at £978 million with a 5% increase in the average price of landings mitigated against a lower number of active vessels and a 5% reduction in total weight landed.
As well as collating financial data, the survey also asks skippers and vessel owners to look ahead. There was a mixed response to the impact of the UK’s exit from the EU with some perceiving it as an opportunity while others felt it was a potential risk to their businesses.
Researchers from Seafish interviewed around 400 skippers and vessel owners about financial and operational performance and other factors including abundance of fish, access to quota, fuel price and the age and health of fishermen. The 2019 annual fleet survey is currently underway.
