Company Report: The Foyle Food Group
The Foyle Food Group in Campsie is one of the three largest processors and wholesalers of meat registered in Northern Ireland. The group trades in its own name and is also the parent company of Leicestershire Quality Meats and Donegal Meat Processors. The latter is a subsidiary of Oaksilver, itself a holding company registered in the Republic.
Through common directors, the company is also a related party to Hilton Meats (Cookstown).
Turnover increased, after 2000, with the inclusion of a share of business from the associated Hilton Foods company, Hilton Meats (Cookstown).
Group operating profits have usually stayed in the black but have varied from year to year. Operating profits in 2015, at £4.8m, represented a recovery from an operating loss of £4.1m in 2014 and a loss of £1.3m in 2013. Pre-tax profits recovered in 2015 to £3.0m following a loss of £5.4m in 2014. That followed a loss of £2.0m in 2013 after several previous years of improving profitability.
The company report said that, in 2014, the company faced difficult trading conditions and that 2015 represented a return to normal profitability. Employment increased in each of the last three years, reaching an average of 1,007 people in 2015.
The Foyle Food Group was re-organised in March 2007 so that it became a wholly owned subsidiary of a new company, Faughan Ltd. Since then, in 2009, there has been a major change in the shareholders and control passed mainly to the Acheson family.