Donegal Meat Processors, owned by the Acheson family and part of the Foyle Group, has reported an operating profit of €517,208 for the full year 2014.
In its latest set of accounts published last week, turnover was up 1.9% to €104.3m. The company which employs 227 people in its abattoir and boning hall in Carrigans, Donegal, saw it return to profitability in 2014.
After making a €339,211 loss in 2013, it recorded a €517,208 profit in 2014. After interest, it made a profit before tax of €258,070. Operating margins were a low 0.5%. Net debt fell by almost €6m during the year and sat at €10.3m at 2014 year end.
Donegal Meat Processors slaughters between 50,000 and 60,000 cattle per year and was formerly owned by Larry Goodman.
The Foyle Food Group processes 300,000 cattle per year in Northern Ireland, Donegal and Britain and it recorded an operating loss of €7.1m (£5.3m) in 2014.
Meanwhile, turnover decreased by 3.2% to €389.1m (£289.3m).
The group expanded into UK processing during 2013 when it bought plants at Melton Mowbray and Gloucester.
Read more
AHDB predicts tough year for meat
Donegal Meat Processors, owned by the Acheson family and part of the Foyle Group, has reported an operating profit of €517,208 for the full year 2014.
In its latest set of accounts published last week, turnover was up 1.9% to €104.3m. The company which employs 227 people in its abattoir and boning hall in Carrigans, Donegal, saw it return to profitability in 2014.
After making a €339,211 loss in 2013, it recorded a €517,208 profit in 2014. After interest, it made a profit before tax of €258,070. Operating margins were a low 0.5%. Net debt fell by almost €6m during the year and sat at €10.3m at 2014 year end.
Donegal Meat Processors slaughters between 50,000 and 60,000 cattle per year and was formerly owned by Larry Goodman.
The Foyle Food Group processes 300,000 cattle per year in Northern Ireland, Donegal and Britain and it recorded an operating loss of €7.1m (£5.3m) in 2014.
Meanwhile, turnover decreased by 3.2% to €389.1m (£289.3m).
The group expanded into UK processing during 2013 when it bought plants at Melton Mowbray and Gloucester.
Read more
AHDB predicts tough year for meat
SHARING OPTIONS