Ballon Meats, the Co Carlow-based beef and lamb processor, recorded strong growth in profits for its 2019 financial year. Accounts recently filed with the companies office (CRO) show Ballon Meats made operating profits of just under €440,000 in 2019, which is more than double (+150%) the operating profit it made in 2018.

Pre-tax profits for the year almost tripled to just under €426,500. While profits have grown strongly at Ballon Meats for last two consecutive years, operating profit margins in the business remain very slender at just 1.3%.

Like many companies in the meat industry, Ballon is a high-turnover business with low margins. The accounts show sales fell by 8% for Ballon Meats in 2019 to just under €33.4m. About half of the company’s sales are in Ireland, with the remainder coming from exports customers.

Owned by the Salter family, Ballon Meats has an asset value of just over €5.8m and employs 83 people. The company processes cattle and sheep at its Ballon site and mainly supplies the food service and wholesale market.