The UK’s largest poultry processor Moy Park has announced a strong recovery in trading performance for last year, with pre-profits up to 24.4M for 2012 for 2012, compared with 4.8M in 2011.
Moy Park delivered a strong performance in 2012, reported ceo Nigel Dunlop
The news emerged as Moy Park took responsibility for its Brazilian parent Marfrig’s operations across Europe, making it responsible for 1.5bn of the group’s business.
Moy Park’s boss Nigel Dunlop, was appointed chief executive of the new group, Moy Park Europe, which came into effect on April 15. It brought Marfrig’s European business operations, including those of Keystone Europe and Seara, under his control.
Commenting on the Moy Park’s results announced late yesterday (May 1), Moy Park ceo Nigel Dunlop said: “Despite a difficult economic and trading environment, Moy Park delivered a strong trading performance in 2012. The business grew its turnover by 1.6% to 1.09bn and has posted profits of almost 25M.”
Dunlop added: “The improvement in pre-tax profit and trading margins was achieved by a combination of initiatives, including operating cost improvements and productivity initiatives, which helped shield the business from the difficult market environment.”
Building market share
He reported that Moy Park’s improved performance included improvements in the mix of its sales, noting that the company – which provides fresh, locally farmed poultry and complementary convenience food products and brands to the UK, Ireland and Europe – had been “particularly successful in building our market share both with existing and new customers”.
Dunlop predicted that the changes would put the business in a stronger position for the future.
“In line with our strategy, and to support our customers’ requirements to grow sales of chicken farmed in Great Britain and Northern Ireland, we will continue to invest materially in our industry leading farming and operational base,” he added.
Commercial capabilities
Moy Park would continue to develop its commercial capabilities through areas such as food development, consumer insight and customer and category marketing, he said.
“We have been particularly pleased with the progress made with the Moy Park brand in Ireland, where it is market leader,” he claimed.
Despite the strong recovery reported by the company, Dunlop recognised that poultry feed cost volatility would continue to pose challenges for the firm.
The Moy Park Group employs over 10,900 people across 11 processing facilities in Northern Ireland, England, and France.
The Marfrig Group supplies meat to global markets. It produces poultry, beef, pork, lamb and fish products, as well as pasta, margarine, frozen vegetables and deserts. It has operations in 18 countries in five continents across the globe and sells into 160 countries.
