Carton Bros, the poultry processing company that trades under the Manor Farm chicken brand, reported a sharp fall in profits for its 2019 financial year.
Recently filed accounts show operating profits fell 27% last year at Carton Bros to just under €9.6m, as operating profit margins narrowed from 7.1% in 2018 to a still healthy 5.1% in 2019. Pre-tax profits for the business fell 17% year on year to just over €11m.
Overall, sales for the year were up slightly (+1%) to just over €186m, while the net assets of the business increased to €53m at year-end 2019. The company invested over €117,000 in R&D projects last year.
Carton Bros is a major player in the Irish retail channel selling chicken under its well-known Manor Farm brand
Headquartered in Shercock, Co Cavan, Carton Bros employs just over 1,100 people and is supplied by almost 200 poultry farmers in Ireland. Carton Bros supplies chicken to both the food service and retail channel in Ireland and accounts for about half of all the fresh chicken sold in Ireland.
Carton Bros is a major player in the Irish retail channel selling chicken under its well-known Manor Farm brand. Until recently, the business was owned and run by brothers Vincent and Justin Carton, who were the eighth-generation of the Carton family to run the business.
However, in 2017, the Carton brothers sold the business to Swedish poultry company Scandi Standard as part of a €70m cash and shares deal. As part of the transaction, the two Carton brothers were given a 10% shareholding in Scandi Standard, while Vincent Carton has also joined the board of directors in the Swedish poultry company.