Moy Park grows revenue and sales volume in 2015
Poultry processor Moy Park has grown revenue 1.4% year-on-year over the last 12 months.
In its results for the full year ended 2 January 2016, its revenue hit £1,442.3 million (m) compared to £1,421.7m in 2014.
It saw a 6.7% year-on-year volume sales growth while net debt was reduced by 5.5% compared to 2014.
Janet McCollum, chief executive of Moy Park, said: “We are pleased to announce a strong 2015 full year financial performance in the face of challenging global market conditions. The company achieved 6.7% volume growth and increased underlying profit before tax. This strong performance was delivered against the backdrop of a highly competitive market, foreign exchange headwinds, commodity price deflation and export restrictions.”
Highlights for the business included processing over five million chickens per week and the investment of £27.5m at facilities in Dungannon, Craigavon and Ashbourne to enhance production capabilities.
McCollum said: “A further £30 million was invested in our agricultural base through our farming partners. Positive cash flow throughout the year enabled us to do this whilst reducing net debt.”
Moy Park also earned praise for its continued focus on food safety including significant investment in a campylobacter reduction strategy which received positive feedback from the UK Food Standards Agency and other independent stakeholders.
“We continue to build our business to the highest standards of food safety and quality, and to meet and exceed the ever evolving expectations of our customers and consume,” added McCollum.
Moy Park recently won Processing Business of the Year at the 2016 Meat & Poultry Processing Awards.
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