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Eurostock Foods sees their profits leap up to £1.37m

By Staff Reporter

Family-run frozen meat company Eurostock Foods Group in Co Armagh has reported pre-tax profits of £1.37m - up from just under £500,000.

The company supplies "household names in retail food service" and the manufacturing sector with beef, lamb, pork and poultry.

Its main base is in Lurgan while it has another outlet near Wigan.

Group turnover for its activities in the UK, Ireland and Europe was £49m, up from £44m in the year to January 31, 2015.

There were 242 employees, up from 212 the year before - while the company's wage bill was £5.1m, up from £4.9m.

Four directors - all members of the White family from Newry - received total remuneration of £302,000.

A directors' report said they were "satisfied" with the results for the company in an "increasingly competitive" market.

"Increased costs of raw materials continue to bring challenges for the business but the directors are confident that margins can be maintained. They are committed to long-term creation of shareholder value by increasing the group's market share through organic growth combined with improvements in buying, stock management and overhead cost savings," the report added.

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