Linden Foods, the Northern Ireland-based meat processor, saw pre-tax profits plunge 98% for its 2017 financial year to less than £19,500. Accounts filed in the last week by Linden for its financial year ending September 2017 show earnings (EBITDA) in the business slumped 20% to just over £2.5m, as margins narrowed from 1.7% in 2016 to 1.3% last year.
Linden, which operates the largest abattoir in Northern Ireland with a capacity to slaughter up to 100,000 head of cattle and more than 200,000 head of sheep per annum, reported an annual turnover of just under £200m, which is up 9% year-on-year. Operating profits in the business increased by over a third (+34%) year-on-year to reach £336,640, although profit margins remain at a razor thin 0.2%.
Enniskillen-based Kettyle Irish Foods, a subsidiary business majority owned by Linden that sells premium, dry-aged meats to more than 800 high-end restaurants in Ireland, the UK and Europe, recorded a 12% increase in sales to £17.3m last year. However, the business made pre-tax losses of £881,000.
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Linden Foods, the Northern Ireland-based meat processor, saw pre-tax profits plunge 98% for its 2017 financial year to less than £19,500. Accounts filed in the last week by Linden for its financial year ending September 2017 show earnings (EBITDA) in the business slumped 20% to just over £2.5m, as margins narrowed from 1.7% in 2016 to 1.3% last year.
Linden, which operates the largest abattoir in Northern Ireland with a capacity to slaughter up to 100,000 head of cattle and more than 200,000 head of sheep per annum, reported an annual turnover of just under £200m, which is up 9% year-on-year. Operating profits in the business increased by over a third (+34%) year-on-year to reach £336,640, although profit margins remain at a razor thin 0.2%.
Enniskillen-based Kettyle Irish Foods, a subsidiary business majority owned by Linden that sells premium, dry-aged meats to more than 800 high-end restaurants in Ireland, the UK and Europe, recorded a 12% increase in sales to £17.3m last year. However, the business made pre-tax losses of £881,000.
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