2nd Quarterly Review 2023
13th October 2023
J Marr Quarterly Presentation
Q2 July - September 2023
Presentation Overview
- Overview of 6 Month performance
- Performance against capped incentive target
- Trading commentary, positives & negatives
- Updated Values
- HR Update, what to expect from now until early 2024
Overview of Q2 Results
![Q2 Cumulative Volume in MT](/uploads/images/Q2-Cumulative-Volume-in-MT.png)
![Q2 Profit in GBP Graph](/uploads/images/Q2-Profit-in-GBP-Graph.png)
Trading Commentary
![Q2 Overview half year volumes 1](/uploads/images/Q2-Overview-half-year-volumes-1.png)
![Q2 Overview half year volumes 2](/uploads/images/Q2-Overview-half-year-volumes-2.png)
Trading Commentary, Positives & Negatives
Positives:
- Volume up Year on Year for both JMSF and JMC
- Diversification strategy has been rolled out, and all subsidiaries now trading and starting to generate GP:
- J Marr Shanghai Trading Co., Ltd
- J Marr Seafoods Europe, SL
- J Marr Dry Foods Ltd
- OceanMarr
Negatives:
![Q2 Margin Stress](/uploads/images/Q2-Margin-Stress.png)
- Margin stress (graph above)
- Currency challenges in Nigeria and Ghana
- Congelcam Douala port blockage pressures
- Ivory Coast slow down in access to free funds
- Cost of funds increases
Ongoing Actions:
- Margin focus is a key action for everyone in the business, and something everyone can contribute towards
- Improving margins is a key focus area
- Six point action plan in place:
- Gross Margin %’age
- Pillars of supply
- Every dollar matters
- Trading costs
- Bank interest
- Overheads
Updated Values
![Q2 Core Values](/uploads/images/Q2-Core-Values.png)
HR Update
What to expect from now until early 2024:
- We have introduced 2 new formats for individual meetings:
- 1-2-1 informal meetings
- The majority of employees should have now had a meeting with their line manager, these will be held periodically going forward.
Employee appraisals/reviews
These will be completed January and February 24, this will be a formal performance review and will be held with line managers.
- 1-2-1 informal meetings
Employee Survey
- Time to have your say! Your feedback is very valuable!
- We have created a number of questions we would like you to give your answers to, this will be sent out to all employee's w/c 16th October, we encourage everyone to complete the questionnaire and return it anonymously, a sealed box will be placed in the reception for everyone to place their completed forms in
- Forms should be returned by Friday 27th October.
Other Future Projects
- J Marr is actively working on defining its CSR partner for 2024
- Modern Day Slavery will return as a focus area and be part of our HR agenda
- End -