In the year ending April 2022, Rockfish reported sales of £13m, with restaurant earnings before interest, tax, depreciation and amortisation (EBITDA) of £2.9m and group EBITDA £1.34m.
The group says that having made sweeping changes to the business in the last two years to help it thrive in a post-Covid environment, it is now focused on building the pipeline for future growth.
Amongst the sites set to launch in the next year is a restaurant in Salcombe, which has been in the offing since March 2021. Sites in Sidmouth and Topsham are also scheduled, with a number of other locations under consideration.
Rockfish has acquired two of its major suppliers, Brixham Seafish and Hillside Foods, which it says has helped to create 'a unique integrated supply chain' based directly on the quayside in Brixham.
These improvements, the group adds, have not only allowed the business to adapt to inflationary pressures, but also enabled it to be the first to drop cod from its menus and replace it with native species as supply chains are devastated by the conflict in Ukraine and resulting sanctions.
Elsewhere, the opening of a modern fishmongers in Brixham has given Rockfish a platform to allow people to buy fresh ready-to-cook seafood, with a range sauces and accompaniments, anywhere in the UK dispatched on the day of landing. The group has also launched a range of British tinned fish.
Additionally, the business says it has invested a huge amount into recruitment, training and development, as it seeks to consolidate its position as an employer of choice in the South West.
“I am extremely proud of what the team have achieved at Rockfish over the last two years,” says Mitch Tonks, Rockfish founder and CEO.
“We always set out to create amazing seafood restaurants using produce landed by local boats and small-scale fishermen. Covid allowed us the space to think differently, build a better business and focus on culture and our clear mission to be the leading sustainable seafood restaurant business in the UK.
“Whilst the industry faces multiple challenges in terms of inflation and staffing, I believe the investments made this year in our supply chain and our people gives us a clear competitive advantage that will allow us to build a more significant business over the next few years.”
