04-08-2025
- Business
- Belfast Telegraph
Northern Ireland's biggest businesses see profits soar by 26%
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 26% in the past year.
But the magazine, which ranks NI's most successful businesses by turnover, said sales remained almost flat year-on-year, sitting at a total of £35.6bn.
However, pre-tax profits rose to £1.86bn — up 26.1%, from £1.47bn.
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 4.1% to a margin of 5.2%, 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 NI, 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.'
Some of the newcomers to this year's edition, which hits desks this week, include Nelipak Healthcare Packaging Ltd, Huhtamaki Foodservice Delta Ltd and construction-related MCMU Holdings 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 three decades of the Top 100.
'While it's not a race to one billion, we now have seven firms cracking that turnover mark, while Pilgrim's Europe is the only firm here to hit the £2bn sales point.
'But it's also the many other firms making the list which are key to Northern Ireland and, along with our SMEs and micro businesses, remain the engine of our economy here.'
Justin Coleman, director at 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 [where] we have been successful, and a big focus in controllables.'
