Belfast Telegraph

Company report: Moy Park

 

By John Simpson

In 2015 Moy Park was a wholly owned subsidiary of the Brazilian company Marfrig, which operated a wide range of commercial interests in meat and meat products.

The then parent group had interests in supplying western Europe from Brazil.

In June 2015 Moy Park was bought by another Brazilian company, JBS SA, reported to be the world's largest protein-making company and the second largest Brazilian global food business.

More recently, in September 2017, Moy Park was acquired by the Pilgrim's Pride Corporation. However, a feature of this 'sale' was that Pilgrim's Pride is already a subsidiary of JBS SA.

Moy Park has, therefore, moved to a different managerial relationship still as part of the JBS group.

JBS SA is ultimately controlled by the Batista family through their ownership and control of J&F Investmentos SA with a 42% ownership of the capital of JBS SA.

Moy Park is itself a large international organisation with 10 processing sites across the UK, Ireland and France. The main activities of this Craigavon-based group are in locally farmed poultry and poultry processing.

The Group also produces and sells a range of complementary convenience food products and brands.

Moy Park is the largest local private sector employer, controlled from Northern Ireland, with an average of 9,620 employees in 2016.

This is an increase of 4% from 9,230 employed in 2015. A large number of these employees is located outside Northern Ireland.

Turnover continued to enjoy an annual increase in each of the last nine years. For the fifth successive year, turnover exceeded £1bn.

In 2016, operating profits, at nearly £66m, were up 30% when compared to 2015. Pre-tax profits at the business also rose by 67% to nearly £60m, partly as a recovery after exceptional costs of just over £8m the previous year.

Dividend payments to the shareholders increased sharply in 2016 to just over £22m.

Belfast Telegraph

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