Seafood CLG Brexit Special

OR ?

Brussels June 22nd: A picture of European cooperation & harmony

June 23rd: During the day nervous optimism

And as the vote came in things looked good…

+£4M

…however- woke up to bad news

-£8M

2 weeks on the downside had crystallised…

-£10M X3.5

…and despite best efforts no viable TV career change

Mike detailed the clear challenges facing us all…

Sterling Weakness

Tariffs & Trade Barriers

Labour Availability

…but we needed to snap out of our depression & denial

Everybody is in the same boat…

…and not just within our industry

My Brexit 3 C’s!..............

Consumer

Category

Currency

There is a significant opportunity for fish

X2 per Week Every 20 days

Challenge for us is to create value & not just pass on cost

We need to persuade people to prioritise their spend on our products!

V

Commodity categories can be reframed

45p/L £3.38/L 80p/L £3.60/L

Finally…. Especially for us in the food industry, Brexit has reminded us of the importance of our people

So… If Brexit forces us to create category value, focus on our consumers & look after our people then it can’t all be bad