This frozen-seafood supplier buys and processes fish in the Far East and eastern Europe, where costs are low, and sells it in Britain, Germany and France, where prices are high. The company, founded in 1997 by Mark Holyoake, managing director, recently acquired 10 distribution firms and started to supply restaurants direct. British Seafood says it more than doubled its client base in the food-processing sector, and increased the size of its average annual contract by a factor of 10 to £1m between 2001 and 2004. As a result, profits rose 85% a year from an annualised £1.3m in 2000 to £8.2m in 2003.
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