Despite what it termed a “challenging economic climate” within the beef industry, Northern Ireland-based meat processor, Linden Foods, reported steady profits last year. Accounts recently filed with the companies office show Linden Foods recorded pre-tax profits of £1.65m (€1.85m) for its 2019 financial year in the 12 months to the end of September 2019, which was up 10% year on year.
The company made operating profits of just under £2.1m (€2.3m) last year, which was up 1% year on year. Operating profit margins were relatively steady in 2019 at 1%, which highlights the low level of profitability in the sector. Linden attributed its low profit margins to strong cattle prices during 2019.