Company Snapshot: Dairy Produce Packers Ltd
Dairy Produce Packers (DPP) specialises in the preparation and packing of processed cheese products and microwaveable frozen convenience snack foods for the consumer foods industry.
The firm, which has its main operational base in Coleraine, has a multi-million contract to supply cheese to fast food giant McDonald's.
It also supplies major supermarkets across the UK and the Republic. The award-winning company is an integrated part of the Kerry Group, one of Northern Ireland's top 100 companies.
Kerry Group also owns in the province Leckpatrick Dairies in Omagh as well as Portadown-based companies Golden Cow and Henry Denny.
The trading results for 2008 show a further large increase in turnover to reach £134m in the year. This is more than double the level only five years ago and was a 31% increase compared to 2007.
The published figures show a very handsome increase in operating and pre-tax profits.
However, some of this increase appears to be a one-off adjustment within the Kerry Group.
Internal group balances changed significantly and the amount owing to other companies within the group fell by over £8m and there were other adjustments to inter-group debit balances.
Post-tax profits in 2008 were over £9.4m after a charge of £3.7m for company taxation. The net effect of these payments and transfers was an increase in the overall balance from the profit and loss account on the balance sheet so that the value of shareholders funds, notionally, increased by over £9m.
Employment in the company increased by nearly 4% and averaged 401 people over the year. Earlier this year DPP invested over £400,000 in a staff training and development project, supported by Invest Northern Ireland.
Invest NI offered £121,201, part financed by the European Regional Development Fund (ERDF), towards the total investment.
DPP was formed in 1946 and in 2000 it moved to a new state-of-the-art factory, which has its own wastewater treatment facility.
Kerry Group, the owner of DPP, is a leading supplier of branded foods to the Irish and UK markets.
The group has grown through a series of strategic acquisitions in its short history, from the commissioning of its first dairy and ingredients plant in 1972, and has achieved sustained profitable growth with current sales of approximately €4.8 billion.