Moy Park owners Marfrig posts record 18.3m profit

Owners of Northern Ireland poultry processor Moy Park, recorded a profit of 18.3m only 12 months after posting a 38m loss.

Under the ownership of Brazilian company Marfrig sales rose by nearly 6% from 737.7m to 780.6m last year.

These were achieved despite the "challenging conditions" faced by the food industry, the company said.

The figures were revealed in a report filed by Mafrig at Companies House in Belfast. The report puts the considerably improved business performance down to a major restructuring programme in 2008. Moy Park was sold to the Brazilian conglomerate in 2008 for 450m.

Moy Park employs 6,920 full and part time staff in Northern Ireland, England and France.

In May, Moy Park acquired rival processing firm, O'Kane Poultry, creating a combined workforce of 5,000. However the takeover process could result in up to 30 redundancies, expected to be largely administrative roles.

>> Ulster Farmers' Union welcomes Moy Park meeting

>> Moy Park to buy O'Kane Poultry

>> Moy Park production director Eric Reid retires

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