Strong Recovery in Profitability by Moy Park
Despite the challenging economic climate, UK poultry processor Moy Park has reported a substantial increase in pre-tax profits from £4.8 million to £24.4 million on turnover up by 1.6% to £1.09 billion for 2012.
“The improvement in pre-tax profit and trading margins was achieved by a combination of initiatives including operating cost improvements and productivity initiatives which helped shield the business from the difficult market environment,” points out Nigel Dunlop, chief executive of Moy Park. “The sales performance incorporates sales mix improvements and we were particularly successful in building our market share both with existing and new customers. We believe this positions the business even more effectively for the future.”
Nigel Dunlop, chief executive of Moy Park.
He adds: “Whilst these results show a strong recovery, we remain conscious of feed cost volatility and the continued challenges it poses to the whole supply chain. However against the backdrop of still difficult markets, we are pleased with the trading progress to date and we look forward to the future with continued confidence.”
Employing more than 10,900 people across 11 processing facilities in Northern Ireland, England and France, Moy Park Group is part of Marfrig Group of Brazil, a leading player in the global meat industry. Indeed, MoyPark was recently made responsible for the management of all Marfrig’s operations in Europe, encompassing Keystone Europe and Seara.
