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

My Account

Spotlight

Guides 

Most read

Social

Following the Prime Minister's speech on Brexit, are you more or less confident about leaving the EU?

Calendar