Northern Ireland biggest businesses have seen profits soaring by almost 50% year-on-year, Ulster Business can reveal.
The Ulster Business Top 100 Northern Ireland Companies 2022 list, with A&L Goodbody, shows combined pre-tax profits among our biggest firms rose by 46% to £1.367bn up from £936.8m, based on previous accounts.
Meanwhile, combined sales among our Top 100 companies rose by just 2.6% during the same period, from £26.1bn to £27.7bn. This 2.6% growth is down from the 10.4% growth recorded in the Top 100 a year previous.
The list has showcased the performance of the biggest firms from right across NI, ranked by turnover, for more than 30 years.
It uses data from Dun & Bradstreet and the latest accounts filed to Companies House in the UK, with data including more recent filings for many firms covering the period since the start of the Covid-19 pandemic.
Of the 100 companies making the list just eight declared losses for their last financial year.
Moy Park has topped the list once again, posting turnover of £1.46bn and pre-tax profits of £82.7m for its latest filed accounts, followed by W&R Barnett with turnover of £1.27bn and pre-tax profits of £51.3m, coming in the second spot.
There are also a host of new companies making this year’s list, with around a dozen businesses joining in 2022.
That includes firms such as TW Scott & Sons (Fuels) and Budget Energy which have made their way up from our Next 200 list, which follows on from the Top 100 and charts the success of our leading SMEs.
And other firms making the list this year include Fourds – the Magherafelt-based business which counts Bloc Blinds among some of its arms.
Ulster Business has partnered with corporate law firm A&L Goodbody for the last seven years with the Top 100.
“While the last two years have been some of the trickiest periods for business and wider society in a generation, the performance of many of our biggest businesses is testament to the hard work which goes in to running a Top 100 company,” said John Mulgrew, editor of Ulster Business.
“Although the next 12 months will present yet another set of challenges for companies amid double-digit inflation and energy costs, this year’s Top 100 is a clear indication of the resilience and buoyancy of our largest firms.”
Michael Neill, head of Belfast office, A&L Goodbody (ALG), said: “Many businesses are aware of the persisting challenges posed by Covid-19, Brexit and an uncertain domestic and global economy.
“The Top 100 continue to take every measure to mitigate against those. Our heightened focus at ALG is on the future and on supporting our clients in realising every opportunity for sustainable recovery and growth, alongside navigating continued market challenges.”
The special Top 100 double-edition of Ulster Business will be hitting desks this week.