Rangeland Foods, the Co Monaghan-based burger company, saw profits fall in 2017 due to higher costs. Accounts filed with the companies office show Rangeland Foods recorded pre-tax profits of just under €890,000 for 2017, which was down 7% on the previous year.
While profits were down, Rangeland recorded a 2% increase in sales for 2017 to reach €20.8m. The company manufactures frozen burgers for the foodservice market in Ireland and the EU. Sales to Irish customers accounted for 33%, or €6.9m, of Rangeland’s business in 2017. Just over two-thirds (67%) of sales, or €13.8m, went to customers in the EU.
Rangeland saw operating profits for the year decline by 7% to €890,000, as operating profit margins narrowed slightly from 4.7% in 2016 to 4.3% in 2017. Based in Castleblayney, the net assets of the Rangeland business increased to €5.7m in 2017.
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The company employed 70 people at its processing facility during the year, with staff costs amounting to €2.3m. Rangeland is owned by the Lucey family.
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Rangeland Foods, the Co Monaghan-based burger company, saw profits fall in 2017 due to higher costs. Accounts filed with the companies office show Rangeland Foods recorded pre-tax profits of just under €890,000 for 2017, which was down 7% on the previous year.
While profits were down, Rangeland recorded a 2% increase in sales for 2017 to reach €20.8m. The company manufactures frozen burgers for the foodservice market in Ireland and the EU. Sales to Irish customers accounted for 33%, or €6.9m, of Rangeland’s business in 2017. Just over two-thirds (67%) of sales, or €13.8m, went to customers in the EU.
Rangeland saw operating profits for the year decline by 7% to €890,000, as operating profit margins narrowed slightly from 4.7% in 2016 to 4.3% in 2017. Based in Castleblayney, the net assets of the Rangeland business increased to €5.7m in 2017.
The company employed 70 people at its processing facility during the year, with staff costs amounting to €2.3m. Rangeland is owned by the Lucey family.
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