Company Snapshot: Moy Park Ltd
Turnover continuing to grow
Moy Park is a large international organisation with activities in nine sites throughout the UK and Ireland, with a subsidiary in France.
The main activities of this Craigavon-based group are in locally farmed poultry and poultry processing. It also produces and sells a range of complementary convenience food products.
Moy Park is a wholly owned subsidiary of the large Brazilian company, Marfrig, which has an even wider range of commercial interests in meat and meat products and has interests in supplying some of these products from Brazil to western Europe.
Moy Park is one of the largest locally controlled private sector employers with an average of 8,623 employees in 2011. This is slightly higher than the 8,561 employed in 2010. A large number of these employees is located outside Northern Ireland.
Annual turnover has continued the sequence of annual increases, year by year, in the last five years. Group turnover in 2011 rose by 16% and, for the first time, exceeded £1bn. The performance in 2011 is influenced by the first full year of ownership of O'Kane Poultry which was purchased in August 2010. With the consolidation of O'Kane Poultry, Moy Park is the biggest poultry sector complex in Northern Ireland.
After a sequence of operating and pre-tax losses in 2007 and 2008, the group returned to profitability in 2009 and 2010. However, in 2011, whilst still showing positive profits, the levels were much lower than in 2010. Operating profits, at £7.4m, were 77% lower than a year earlier and were less than 1% of turnover.