Family firm and NI industry giant W&R Barnett sees pre-tax profits rise to £67m
It remains one of Northern Ireland's most successful and biggest family-owned and run businesses.
The firm said turnover dropped 'due to falling commodity prices of both paper and feed ingredients, with volumes stable year-on-year'.
It said profits rose 'due to improved trading conditions'.
During the year, the firm took on a full stake in Challenge Packaging Ltd, through its subsidiary Logson Holdings Ltd.
And it also disposed of 50% of shareholding in its joint venture, Andean Life LLC, to the group's joint venture partners in exchange for an 85% shareholding in Andean Life LLC's subsidiary, Andean Life Ltd, through its subsidiary United Molasses Marketing Ltd.
The company also said the group acquired 100% of shares in K-Bins Ltd, through its subsidiary Boxes & Packaging (UK) Ltd.
W&R Barnett grew its staff numbers to 1,806 – up from 1,703 a year earlier.
The company took the number two position in the Ulster Business Top 100 Northern Ireland Companies 2024 list, with KPMG.
The group was formed in 1896 and is currently headed by William Barnett.
It's a firm with several strands, including the international trade in grains and derivatives, molasses trading, animal feed and packaging.
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