Company Report: M Keys Ltd
The group of companies owned by the Keys family, registered in Fivemiletown, is engaged in the farming of pigs and providing a transport business.
In addition to the two trading businesses, the group also holds a 50% shareholding in Dunbia Keys Property LLP as well as 50% shareholding in the Dunbia Pig Innovation Centre.
In the last three years the group has reported annual increases in turnover reaching £23.4m in 2017, an increase of 27% compared to 2016.
Operating profits, which fell slightly in 2016, recovered significantly to £3.1m in 2017.
Similar year to year changes were reported in the value of pre-tax profits. Dividends to shareholders in 2017 were £200k compared to £240k in the previous year.
Profits, after taxation and dividends, were retained as part of the company reserves and contributed to the increase in the value of shareholders' funds which were stated as £8.3m in September 2017.
Employment in the group, which had been 69 people in 2016, more recently increased to 85 people. During the more recent year the Group saw a reduction of £176k in the level of outstanding borrowings.
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The group reports that in the recent period the directors have focused on continuing to develop the business, to become a major supplier of production pigs to local slaughter houses whilst maintaining the highest standards in animal welfare. The level of business last year was described as satisfactory and is expected to be sustained in the future.