Donegal Meat Processors, owned by the Acheson family and part of the Foyle Group, has reported a sixfold increase in pre-tax profits to €1.8m for the group’s 2015 financial year.
Operating profits for Donegal increased from less than €520,000 in 2014 to more than €2.3m last year as margins widened 170 basis points to a much-improved 2.2%. Turnover for the year increased 4% to just under €108m. The company’s net debt position was reduced by more than €3m at year end to a little over €7m.
Management of Donegal described the performance in 2015 as satisfactory, despite a highly competitive beef sector. The company aims to grow its market share in Britain and European markets.
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Donegal Meat Processers, which employs more than 220 people in its abattoir and boning hall in Carrigans, Co Donegal, has returned to profit in recent years following a tough year in 2013 when it recorded losses of €340,000.
Donegal Meat Processors slaughters 50-60,000 cattle per year and was formerly owned by Larry Goodman.
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Donegal Meat Processors, owned by the Acheson family and part of the Foyle Group, has reported a sixfold increase in pre-tax profits to €1.8m for the group’s 2015 financial year.
Operating profits for Donegal increased from less than €520,000 in 2014 to more than €2.3m last year as margins widened 170 basis points to a much-improved 2.2%. Turnover for the year increased 4% to just under €108m. The company’s net debt position was reduced by more than €3m at year end to a little over €7m.
Management of Donegal described the performance in 2015 as satisfactory, despite a highly competitive beef sector. The company aims to grow its market share in Britain and European markets.
Donegal Meat Processers, which employs more than 220 people in its abattoir and boning hall in Carrigans, Co Donegal, has returned to profit in recent years following a tough year in 2013 when it recorded losses of €340,000.
Donegal Meat Processors slaughters 50-60,000 cattle per year and was formerly owned by Larry Goodman.
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