Northern Ireland-based chicken processor Moy Park saw pre-tax profits rise 8% for its 2017 financial year to reach £64.5m (€73m). According to accounts filed with the company’s office in the last week, Moy Park grew its sales in 2017 by a healthy 8% to break the £1.5bn (€1.7bn) mark. The company attributed this growth to a 7% growth in sales volumes during the 12 months.

Operating profits in the business rose by 10% year on year to hit £72m (€81m), as profit margins expanded slightly from 4.7% to 4.8%.

Moy Park said it achieved the strong results as a result of its “unrelenting focus” on cost control, particularly in the face of significant inflation in commodity pricing.

The cost of animal feed for the 6m chickens and 600,000 turkeys that Moy Park processes every week has risen over the last year as grain markets have lifted.

Moy Park also paid a dividend of £14m (€15.7m) to its parent company Pilgrim’s Pride, which acquired Moy Park in September last year.