[Economics]Moy Park has biggest turnover of all NI businesses

[FalCoNNN-]

The poultry producer Moy Park was Northern Ireland’s largest business by turnover last year, analysis for Ulster Business magazine suggests.

The company, which is ultimately owned by the Brazilian JBS group, had turnover of £1.88bn and pre-tax profit of £18.7m.

There are now six companies in Northern Ireland with annual turnover of more than £1bn, compared to just one a decade ago.

The analysis suggests that while the 100 largest business in Northern Ireland increased sales last year profit margins were squeezed. 

Combined turnover across the 100 firms was up 17% to £35.2bn while total pre-tax profits fell by 8% to £1.32bn.

John Mulgrew, editor of Ulster Business, said the figures suggest that for some firms "the impact of rising costs, higher borrowing and skills shortages are hitting that bottom line". 

Some of the new entrants to the top 100 list include the Kingsbridge Healthcare Group, which was recently sold to a private equity firm for £300m, and the Charles Brand civil engineering firm.

Link: https://www.bbc.com/news/articles/c0k44ej0k8xo