Latest news with #Pilgrim'sEurope
Belfast Telegraph
2 days ago
- Business
- Belfast Telegraph
Top 100 profits performance impressive amid global backdrop
It holds a mirror up to our largest firms, gives us insight into our most important sectors and takes the temperature of the economy as a whole. The first impression this year's list gives is that that the past year has been one where companies have been putting in a solid performance, managing to maintain turnover – the metric used to rank the list – in what could be described as a relatively challenging economic environment. A standout performance using that metric is the largest company on that list, Pilgrim's Europe, which extended its lead at the top and now becomes Northern Ireland's first company to break the £2bn turnover mark. That's quite an achievement when you consider it is one of only seven firms based on these shores with more than £1bn in annual turnover. Digging a little deeper into the list and there's good news when it comes to the most important metric of all, profit. Collectively the Top 100 companies saw profits rise by more than a quarter year-on-year, a particularly impressive performance given the shaky geopolitical environment, rising wage bills and fragile consumer confidence. If the Top 100 was a company in its own right, the combination of rising profits and steady turnover would leave shareholders extremely happy. While there is no doubt challenges remain, there are reasons for optimism in the economy in the future. That positivity comes from the fact Northern Ireland, uniquely, is positioned for growth on several fronts. For instance, we have unfettered access to both the UK and European Union markets under the Windsor Framework. In a post-Brexit world, that ability to trade freely in two of the world's biggest economies is hugely valuable and one which no other region can lay claim to. Looking further afield, being part of the UK customs territory may lead to advantages for Northern Irish businesses selling into the US market due to the US/UK Economic Prosperity Deal. We also have the potential to cut corporation tax. The UK government has already sanctioned the devolution of corporation tax setting powers to Stormont, powers which if implemented would allow us to reduce the rate to 12.5%, on a par with the Republic of Ireland and well below the UK rate of 25%. Other regions would be delighted to have just one of these levers at their disposal; we have several. Enacted properly (a crucial detail) they have the potential to supercharge the fortunes of many of the Top 100 and subsequently Northern Ireland's economy. Even the challenges over the last 12 months aren't insurmountable. Yes, companies face challenges in the labour market but we also have one of the best, most flexible education systems in the world, tuned in to the needs of business. Yes, we operate in a volatile geopolitical environment but our unfettered access to both EU and UK markets leaves us well insulated compared to other regions. And yes, consumers remain jittery, but inflation has fallen and interest rates have eased. For businesses, there is much to be thankful for and much to be optimistic about. So, as we look at the list of our largest companies we should congratulate them for a sterling performance in recent months, in particular the uplift in profit. By making the most of the unique opportunities which Northern Ireland has at its feet, we can build on that success and allow the Top 100 and wider economy to shine.
Agriland
6 days ago
- Business
- Agriland
NI farmers scoop accolades at Flock Awards
Farmers supplying Pilgrim's Europe are celebrating success after winning both First and Second Place for 'Best Performing Breeder Flock' at the Aviagen Flock Awards 2025. Now in its 25th year, the Flock Awards honour excellence, innovation, and best practice in poultry breeding across the UK. Pilgrim's Europe farming partners were among the standout successes of the evening having secured the two top spots. The award for Best Overall Flock Performance went to Chris Rees of Tilton Farm in Leicestershire, a Pilgrim's Europe partner, who achieved an impressive 173.40 chicks per bird to 60 weeks. Second place was awarded to Richard Crudden from Fermanagh in Northern Ireland another supplier, who achieved 171.35 chicks per bird to 60 weeks. Bird rearers on winning farms were also acknowledged with Edwin Jones accepting the award on behalf of Alastair Jefferson, who reared birds for Tilton Farm, and Richard McNeely from Co. Tyrone for the Crudden flock. Hatchery teams were also applauded with Daniel Ashley from Newark Hatchery, Lincolnshire and Sam McBride from Donaghmore Hatchery, Co. Tyrone, both recognised for their skilled work in hatching the award-winning flocks. Speaking on the team's success, agriculture director at Pilgrim's Europe, Fabio Brancher said: 'This achievement highlights the strength of collaboration across Pilgrim's Europe's farming, rearing, and hatching teams, demonstrating the company's ongoing commitment to excellence in poultry breeding. "We're grateful to the dedication of our farming partners to the highest standards of animal husbandry and congratulate all the winners of their outstanding performance.' Pilgrim's Europe is a UK and European food company employing 17,000 people across approximately 40 sites in the UK, Ireland, France and The Netherlands. We are a leader in making quality food sustainably in partnership with local farmers through our Poultry, Pork, Lamb and Beef supply chains. It produces own-label and branded fresh chicken, pork and lamb, as well as chilled and frozen ready meals, snacking ranges, added value and food service products for multiple markets. Brands include: Richmond; Fridge Raiders; Denny; Galtee; Rollover; Oakhouse; and Moy Park.
Belfast Telegraph
05-08-2025
- Business
- Belfast Telegraph
‘We're still very proudly Northern Irish' says Pilgrim's Europe following restructure
Pilgrim's Europe, which formerly traded as Moy Park here before a recent restructure, heads the Ulster Business Top 100 Northern Ireland Companies 2025, in association with KPMG There's a fresh name at the helm of this year's Top 100. But it's certainly no newcomer to the Northern Ireland marketplace, or the annual business list.
Belfast Telegraph
05-08-2025
- Business
- Belfast Telegraph
Ulster Business Top 100 2025 full list: profits soar by 26%
The Ulster Business Top 100 Northern Ireland Companies 2025, in association with KPMG, charts the success stories of our largest businesses – ranked by turnover. Sales remained almost flat, comparing results year-on-year – sitting at a total of £35.6bn. But pre-tax profits rose to £1.86bn – up 26.1%, from £1.47bn. And Pilgrim's Europe has topped the list this year – the poultry giant which formerly traded as Moy Park. 'This year has seen an increase in year-on-year profit with profit margin for the Top 100 companies increasing from a margin of 4.1% 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,' Jonathan Cushley, who compiled the list, said. 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. 'With the added benefit of dual market access to the UK and European Union, expectations of a more favourable environment for businesses selling into the US and the potential for a cut in corporation tax in Northern Ireland, the table is set for continued success in the coming years.' Some of the newcomers to this year's list include 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, while sales are essentially flat. 'While it's not a race to 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.'
Belfast Telegraph
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.'
