Moy Park sees revenue rise in Q1 of 2015

Moy Park has posted a rise in revenue and underlying profits for the first quarter of the year.

The Northern Ireland-based poultry company reported a 14.4 million year-on-year increase in revenue, hitting 353.2m, while underlying profit rose 14.2% to 10.7m.

It did report a drop in profit before tax for the period, dipping to 5m, almost half what it was in the first quarter of 2014. Underlying pre-tax profit rose from $9.4m to 10.7m.

Janet McCollum, chief executive, said it was a solid start to 2015.

Our commitment to deliver the highest-quality product offering to our customers and consumers, while maintaining the focus on controlling costs, has allowed us to report good first-quarter results, she said. We have produced a positive cash flow while continuing to invest in the infrastructure to facilitate our growth.

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