Strong sales have helped Tyneside-based takeaway supplier Henry Colbeck to grow turnover during a year in which widespread inflation battered the fish and chip shop industry.

The Gateshead-based firm, which is part owned by the Colbeck family and part by an employee trust, reported turnover of £83.7m in the year to the end of February, up from £70m the year before. But the new accounts for the historic firm show operating profits fell from £2.07m to £1.5m following less Government grant money and higher audit fees.

Bosses called the performance "satisfactory" and pointed to strong sales across all of its operations, which include supply of oils and fats, frozen-at-sea fish and cleaning equipment, among other products. The 155-strong business celebrated its 130th year in business in 2023, staging its annual 'What's Cooking?' trade show in Harrogate for fish frying customers and trade media.

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Henry Colbeck's figures cover a period in which fish and chip shops nationally complained of rising costs across nearly all ingredients, including fish, potatoes, oil and even mushy peas, as well as energy. In May this year the National Federation of Fish Friers pointed to a 13% rise in the price of takeaway, and a 19% hike in the price of fish and chips, in the year to March.

Writing in the accounts, sales director Douglas Colbeck said: "The directors consider the profit for the year on ordinary activities before taxation of £1.49m to be satisfactory. We consider the business to be in a financially strong and competitive position.

"The Ukrainian crisis that unfolded during 2022 created further significant supply chain and inflationary pressures. However, the company's strong financial position and strategic focus on risk management helped to ensure a resilient supply chain to our customer base. We are thankful for the huge contribution made by our team throughout another challenging and successful year.

"The company continues to invest in capital projects and system upgrades to further enhance efficiency and service levels and to facilitate future growth."