05-08-2025
- Business
- Irish Independent
Poultry profits lift Pilgrim's to top spot in North rankings
According to the Top 100, produced in association with business advisory firm KPMG, Northern Ireland's biggest businesses have seen profits rising by more than 26pc in the last year.
But the magazine, which ranks businesses by turnover, said sales remained almost flat year-on-year – sitting at a total of £35.6bn (€40.9bn).
However, pre-tax profits rose to £1.86bn – up 26.1pc, from £1.47bn.
Pilgrim's Europe has topped the list this year.
Jonathan Cushley, who compiled the list, said: 'This year has seen an increase in year-on-year profit with profit margin for the Top 100 companies increasing from a margin of 4.1pc to a margin of 5.2pc, with total profits now sitting at £1.86bn compared to £1.47bn for the corresponding companies in their prior year.
'For the first time in over 35 years of compiling the Ulster Business Top 100, turnover has remained flat.
'Sales in the 2025 list amount to £35.621bn, compared to a prior year figure for the same 100 companies of £35.623bn.'
Johnny Hanna, partner in charge at KPMG in Northern Ireland, said: 'The release of the Ulster Business Top 100 Northern Ireland Companies acts as an important benchmark to the corporate year.
'It holds a mirror up to our largest firms, gives us insight into our most important sectors and takes the temperature of the economy.
'The growth in profits over the last year is testament to the innovation and tenacity of the Top 100 and bodes well for the future.'
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Some of the newcomers to this year's edition include construction-related MCMU Holdings Ltd, Nelipak Healthcare Packaging Ltd, and Huhtamaki Foodservice Delta Ltd.
John Mulgrew, editor of Ulster Business, said: 'This year's list shows strong performances from many of our leading firms, and in particular, indicates improving margins in some cases, resulting in more substantial pre-tax profits.
'But interestingly, sales have been flat for the first time in more than decades of the Top 100.'
Justin Coleman, director, Pilgrim's Europe, said: 'The last published results showed a big recovery from Covid.
'There was mega execution of the strategy – key customer focus, growing in the categories which we have been successful in, and a big focus in controllables.'
