Irish pork processor Callan Bacon made a €1m operating loss for its 2019 financial year, which ran to the end of April 2020. Accounts recently filed by Callan Bacon show the company recorded an operating loss of just over €1m, which follows the loss of just under €80,000 it made last year.
The accounts show Callan Bacon recorded a 9% drop in sales for its 2019 financial year to €52.4m. Sales to Irish customers increased 4% to €32.2m, but sales to Europe and the UK were down 25% in the year to €20.1m.
Callan Bacon’s sister company, Ribworld, also had a difficult year. Accounts filed for Ribworld, a company which makes cooked pork products, show its operating profits plunged by 93% last year to just over €45,000. The sharp fall in profits is in contrast to a 16% rise in sales for Ribworld last year.
In May this year, Callan Bacon and Ribworld were sold to the Eight Fifty Group, a UK-based private equity firm that owns UK pork processor Karro Food Group and backed by Seamus Fitzpatrick’s CapVest.