1st Quarterly Review 2023
14th July 2023
J Marr Quarterly Presentation
Q1 April - June 2023
Presentation Overview
- Overview of J Marr Group Structure
- Overview of Q1 Results
- Commentary on performance, positives & negatives
- Introduction to J Marr HR Function
Overview of J Marr Group Structure
The J Marr Group is made up of 7 entities:
- J Marr (Seafoods) Ltd
- J Marr (Commodities) Ltd
- J Marr Shanghai Trading Co Ltd
- J Marr (Seafoods) Europe S.L.
- OceanMarr
- Mauritanian Fisheries Company (MFC)
- LandMarr
J Marr (Seafoods) Ltd - Trading since 1979, J Marr (Seafoods) Ltd is a trader of Globally sourced Pelagic Seafood for supply predominantly into West Africa
J Marr (Commodities) Ltd - Formed in 2010, J Marr (Commodities) Ltd trades Meat & Poultry and Pork products, which are sourced globally, predominantly into West Africa
J Marr Shanghai Trading Co Ltd - Based in Shanghai & formed as a Chinese trading company in 2015, JMST arranges both the supply of Seafood & supply of trade services to JMSF as well as having its own trading portfolio into South East Asia & the China domestic market
J Marr (Seafoods) Europe S.L. - Formed in 2023, with hubs in Vigo & Madrid, JME purpose is the supply of premium seafood species into Europe, with the vision to become a leading seafood distributor in Europe.
OceanMarr - Joint Venture between Bluefish & J Marr (Seafoods) Ltd, to be formalised into a legal company structure, with the purpose of global Squid trading
Mauritanian Fisheries Company (MFC) - Joint Venture to develop our trading presence in the shore processing sector in Mauritania
LandMarr - Trading company formed between JMSF and Landes with the aim of developing trade into Eastern European & South American markets.
Why have we developed this Diversification Strategy?
- Multiple sources of frozen proteins
- Capitalise on synergies
- Access to higher value white fish species
- Global player in Cephalopods (Squid/Octopus)
- Access to a range of markets (not only West Africa focussed)
J Marr (Seafoods) Ltd Q1 Results
Trading Commentary, Positives & Negatives
Negatives:
- Cameroun market challenge
- Less Chilean shore volumes than expected
- Challenging market environment
- Less Blue Whiting volumes than expected
- Slow start to the USA season
Positives:
- Strong volumes, close to budget, higher than last year
- Positive volumes from development areas
- Mauritanian Shore production
- Oman Shore production
- Russian Far East Herring
- Captive supply Trawler now in Namibia
- Beneficial freight environment
- Our diversification strategy is yielding positive results
- Strong presence on both ECSA & WCSA
HR Function
J Marrs Core Values acknowledges that:
- Teamwork is a key aspect of our success
- As such we want to
- Encourage collaborative working
- Develop our people
- Attracting and retain the best people
J Marr will pro-actively work toward achieving, maintaining & exceeding these goals through a dedicated HR function.
The mission of the HR function is to operationalise those values and embed them in the culture at J Marr for everyone's benefit
Work with Team Leaders & the wider team to ensure:
- Right people in the right roles collectively work together
- Empowering team members to get on with job
- Embrace the team to achieve potential
- HR related matters should come to HRBP in the first instance
The immediate short-term aim is to develop the existing framework to create a well-managed HR environment. This involves creating new policies and procedures to support this framework.
- End -