
Top 100 full list and analysis: Northern Ireland's top companies see 26% surge in profits
The Ulster Business Top 100 Northern Ireland Companies 2025, in association with KPMG, showcases the performance of our biggest and best businesses. Our analyst, Jonathan Cushley, breaks down the numbers and figures from this year's leading business list
Our biggest businesses have seen pre-tax profits rising by more than a quarter in the space of a year, according to this year's Ulster Business Top 100 Northern Ireland Companies, in association with KPMG.
Figures compiled on behalf of Ulster Business magazine show that Northern Ireland's Top 100 companies improved pre-tax profitability for their last financial year by 26.1% to £1.86bn.
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Scotsman
3 days ago
- Scotsman
The ‘harsh truth' facing Scotland's retailers as high street spending stalls
'Many retailers, especially those on the high street, face increasingly unpalatable choices in the coming months' – Ewan MacDonald-Russell, SRC Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Retailers are facing 'increasingly unpalatable choices' as cash-strapped Scots rein in spending, industry leaders have warned. New figures from the Scottish Retail Consortium (SRC) reveal a lacklustre performance last month, despite strong food sales in the opening half of July as consumers fired up their barbecues amid the sunny weather. Advertisement Hide Ad Advertisement Hide Ad The trade body's latest retail sales monitor shows that total sales north of the Border nudged up 0.1 per cent last month, compared with July 2024. However, adjusted for the effects of inflation, there was a year-on-year fall of 0.5 per cent - a slight improvement on June's result. The outlook for many town centres and retailers heading into autumn is rather bleak. Ewan MacDonald-Russell, deputy head of the SRC, said: 'July was a lacklustre month for Scottish retailers as sales again disappointed. 'The harsh truth is Scots are holding back spending as worries about the economy grow. That is leaving shops in the lurch - facing higher costs as a consequence of last year's UK government Budget without the growth needed to pay those bills. 'With little sight the economic weather will brighten many retailers, especially those on the high street, face increasingly unpalatable choices in the coming months.' Advertisement Hide Ad Advertisement Hide Ad A breakdown of the latest data shows that total food sales decreased by 1.4 per cent, compared with July 2024. Non-food sales, overall, increased by 1.4 per cent, year on year. Adjusted for the effect of online sales, non-food takings were 1.6 per cent higher. Linda Ellett, UK head of consumer, retail and leisure at KPMG, which helps compile the monthly data, said: 'The UK's fifth warmest July on Met Office record brought a boost to home appliance and food and drink sales. But rising inflation was also a driver of the latter and monthly non-food sales are only growing at around 1 per cent on average at present. 'With employment costs having risen and inflation both a business and consumer side pressure, it remains a challenging trading environment for many retailers. 'While the majority of consumers that KPMG surveys are confident in their ability to balance their monthly household budgets, big ticket purchases are more considered in the context of rising essential costs and ongoing caution about the economy and labour market. Holidays are the priority for many this summer but those heading away have had to account for a higher cost of travel.' Advertisement Hide Ad Advertisement Hide Ad The testing conditions on the high street come as the British Independent Retailers Association (Bira) calls for 'urgent government action' as River Island and Hobbycraft announce restructuring plans, and Claire's UK business collapses into administration. It points to a string of major retailers announcing significant restructuring plans, store closures and job cuts amid rising costs and weak consumer demand and high street footfall. Andrew Goodacre, chief executive of Bira, said: 'It's deeply saddening to see long-standing high street chains announcing significant profit reductions and facing existential threats. These developments provide yet more examples, if they were needed, of the urgent need to support high street businesses across Britain.


The Independent
3 days ago
- The Independent
Economic uncertainty blamed for ‘lacklustre' retail performance last month
Analysists have blamed rising economic uncertainty for a 'lacklustre' July that saw Scottish retail sales fall in real terms compared with the same month last year. According to figures from the Scottish Retail Consortium (SRC) and KPMG, total sales in Scotland rose 0.1% last month compared with July 2024, when they had decreased by 0.9%. However when adjusted for inflation this represents a year-on-year fall of 0.5%. Food sales in Scotland were down 1.4% compared with July 2024, when they had decreased by just 0.3%. This was despite a strong opening to the month when hot weather led to a 'boost' in spending on barbecues and summer meals. Non-food sales on the other hand rose by 1.4% compared with the same period last year, with analysists saying phones and some furniture and toy ranges performed well. Adjusted for the effects of online sales, non-food sales increased 1.6% on July 2024, when they had decreased by 1.5%. Ewan MacDonald-Russell, deputy head of the SRC, said: 'July was a lacklustre month for Scottish retailers as sales again disappointed. 'When adjusted for inflation retail sales in Scotland fell by 0.5%. That's a slight improvement on June's figures, but demonstrates shoppers continue to cut back on shopping as economic uncertainty continues to rise. 'Within the general disappointment there were some bright spots. Food sales shone in the opening half of the month as Scots took advantage of the warm weather to cook barbeque and summer meals. 'Phone sales did well, as did some toys and furniture ranges. Against that televisions continue to disappoint, with few households investing in high-end entertainment despite the summer plethora of sporting events. 'Fashion ranges performed poorly, albeit the likelihood is shoppers did their summer wardrobe shopping earlier in the year when the sunshine emerged. 'The harsh truth is Scots are holding back spending as worries about the economy grow. 'That is leaving shops in the lurch – facing higher costs as a consequence of last year's UK Government budget without the growth needed to pay those bills. 'With little sight the economic weather will brighten, many retailers, especially those on the high street, face increasingly unpalatable choices in the coming months.' Linda Ellett, UK head of consumer, retail and leisure at KPMG, described the current trading environment as 'challenging' for retailers. 'The UK's fifth warmest July on Met Office record brought a boost to home appliance and food and drink sales,' she said. 'But rising inflation was also a driver of the latter and monthly non-food sales are only growing at around 1% on average at present. 'With employment costs having risen and inflation both a business and consumer side pressure, it remains a challenging trading environment for many retailers. 'While the majority of consumers that KPMG surveys are confident in their ability to balance their monthly household budgets, big ticket purchases are more considered in the context of rising essential costs and ongoing caution about the economy and labour market. 'Holidays are the priority for many this summer but those heading away have had to account for a higher cost of travel. 'Consequently, spending in some areas of the retail sector remains subdued and competition for consumer spend will remain fierce.' The figures were published in the SRC-KPMG Retail Sales Monitor for July.


Belfast Telegraph
5 days ago
- Belfast Telegraph
Stormont's pollution plan presents poses ‘very significant challenge' to agri sector
Agri firm Fane Valley comes in at the number 30 spot in this year's Ulster Business Top 100 Northern Ireland Companies 2025, in association with KPMG The last 12 months have proved a mixed picture for Northern Ireland's agri sector. Last year began with poor weather, and farm gate prices, which created 'challenges' for customers and shareholders of diary co-ops and producers, such as Fane Valley, according to its chief Trevor Lockhart. 'As summer turned into autumn, the weather improved, and farm gate pries began to recover – that period through autumn into winter proved to be a positive trading period, for farmers,' he told Ulster Business. That helped it increase its sales and business performance. It's latest published turnover sits at £342.4m, for the year ending December 2023, with pre-tax profits of just over £10m. That puts it in the number 30 spot in this year's Top 100. Fane Valley remains one of Northern Ireland's largest dairy co-ops – with some 1,100 farming shareholders. '[There have been] positive farm gate prices, and demand has continued into 2025… farmers and businesses have benefited from that positive trading environment. 'We have 1,100 farmer shareholders and relatively steady turnover over the last 10 years... between £350m and £400m, before we include Ready Egg group. 'The strategy of the group has been to focus on investment in higher value-added activities. Turnover today is lower than it was 10 years ago, when we were heavily invested in red meat and dairy processing, but our profits have improved significantly.' It's also recently invested in the egg packaging and processing sector, with an interest in the Ready Egg group – another firm making this year's Top 100. 'That business packs 30 million eggs a week,' Trevor says. '[We are seeing] increased demand for egg, and egg-based products as consumers in various demographics seek to enhance protein in their diets. But challenges remain for the firm, and the wider sector. The big debate and concern among the farming sector is around Stormont's proposed Nutrient Action Programme (NAP). While in an early form, the proposals – which have been drafted by Agriculture Minister Andrew Muir – are linked to the Lough Neagh plan, with recommended revisions including making low emission slurry spreading equipment mandatory, and placing restrictions on the use of phosphorus fertiliser. 'The agri-food sector is very focused on the current NAP proposals,' Trevor says. 'The proposals in their current form present a very significant challenge to agriculture. 'The agri-food industry is very well aware of the issues that have to be managed, and very well aware of [working] towards solutions. But the proposals… are not properly grounded in science.' He said the plans don't take into account the impact they could have the industry. The primary concerns are centred around the level of surplus phosphorus, generated by the agri-sector, and how that is dealt with. 'In essence, most intensive farms in Northern Ireland – to comply in the current form – would require very significant amounts of land to sustain and be able to manage the waste or manure that arrives from farming activities,' Trevor says. As for wider market demands, Trevor says he believes there is a growing demand for natural-based products, as consumer demand for heavily-processed plant-based alternatives begins to plateau. 'I believe there's a reflection as consumers understand supply chains which support plant based alternatives, which [often] rely on products such as soya-based substrate for protein. The initial perception didn't fully match with expectations. 'People have a preference for natural and less-processed food – and that's playing out on aisles in our supermarkets.'