Dublin-based Ballymaguire Foods, the largest chilled foods producer in Ireland, saw operating profits almost double in 2016 close to €500,000. The company, which does not report turnover, also saw a big increase in pre-tax profits (+104%) to more than €525,000 last year.

Following negative cashflows in 2015, the business generated positive net cashflows of €1.2m last year.

Ballymaguire Foods was founded in 2008 by brothers Michael and Gabriel Hoey to complement their existing Country Crest business. The company is managed today by Ed Spellman.

Initially, Ballymaguire Foods produced a small selection of mash and raw potato products under its own brand. However, the business has become a major producer of own-label products for retailers, with the UK now a significant export market.

Ballymaguire Foods now has the capacity to produce in excess of 500,000 ready meals per week. The company sources almost 700t of beef, 2,080t of vegetables, 780t of dairy produce and 600t of chicken for its product range every year.