Fresh poultry sales drive growth for Moy Park

Four months of business development has lead to strong volume growth for poultry processor Moy Park.

The Northern Irish firm experienced an increase in revenue of 6.6% year-in-year, taking it to 370.4m, with volume growth also up 7%. This was laregely driven by strong fresh poultry sales during the period.

We are pleased to announce good revenue and volume growth in the first quarter of 2017, said Janet McCollum, chief executive of Moy Park.

This has been achieved primarily through the growth of our fresh poultry sales, driven by increased operational capacity, and despite the backdrop of challenging market conditions.

As expected, short term performance has been impacted by headwinds including cost inflation. However, the underlying performance of the business remains strong and our unrelenting focus on cost control, strong customer relationships and culture of constant innovation continues to provide a strong platform for future growth.

McCollum also gave an update on the new hatchery development.

As part of our strategic investment programme we are on track to complete our new state of the art hatchery in Newark, England, this year, which supports the growth of our UK operations.

Other highlights for the quarter were: receiving an Excellence in Food Safety award for campylobacter across the supply chain; McCollum receiving the Lifetime Achievement Award in the Belfast Telegraph Business Awards; and a continued focus on cost control.

Volume figures grew 9% in the UK and Ireland. Revenue rose by 5% when compared to the year previous to 280 million. In continental Europe, revenue was 1% at 106m, thanks to volume growth.

Our business is built on the highest standards of food safety and quality, and we are entirely focused on meeting and exceeding the ever-evolving expectations of our customers and consumers, continued McCollum. Our strategic investment programme has led to significant operational improvements across Moy Park, and as a result our underlying business is in excellent shape. Accordingly, we remain confident in our ability to continue exceeding these expectations and we are pleased with the momentum in the business.

Moving forward, the business said it is well positioned to deliver sustained momentum and growth, with a focus on becoming the most sustainable and safest food company in Europe.

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