Moy Park sales boosted by export growth

By Noli Dinkovski

- Last updated on GMT

Moy Park: sales of fresh poultry in the UK were up by 3.8%
Moy Park: sales of fresh poultry in the UK were up by 3.8%

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Moy Park has posted increased sales for the third quarter of 2016, thanks to a strong export performance.

Like-for-like (LFL) sales for the Northern Ireland chicken processor – which is owned by Brazilian meat giant JBS – were up by 0.6%, to £352.8M for three months to October 1. This was despite domestic revenues falling by 2.5%, to £306M.

However, when adjusted for the discontinued canned beef business, LFL sales showed 3.6% growth.

LFL sales volume, meanwhile, grew by 1.3% compared with the third quarter of last year.

Profit before tax increased by £5.8M to £6M in the third quarter of 2016. Moy Park said this was driven by growth in LFL earnings before interest, tax, depreciation and amortisation (EBITDA) and lower exceptional charges, partially offset by corporate charges from JBS.

Like-for-like volume growth

UK & Ireland showed LFL volume growth of 2% compared with the previous year. Revenue of £259M was £11M below the previous year. However, when adjusted for the discontinued Canned Beef business, LFL revenue was in line with the previous year.

Domestic sales of fresh poultry were up 3.8%, but processed and prepared product sales fell by 4.6%.

Overall, 65.5M birds were processed by Moy Park during the quarter, a 0.3% dip year-on-year.

Moy Park ceo Janet McCollum said: “Against the backdrop of particularly challenging market conditions, the third quarter of 2016 has seen Moy Park continue to deliver a strong performance, with sustained revenue growth and an improvement in LFL profit before tax.

“Our progress continues to be driven by strong customer relationships and improved efficiency and cost control, as well as a culture of constant innovation.

‘Highest standards’

McCollum added: “Our business is built on the highest standards of food safety and quality, and we are entirely focused on meeting and exceeding the ever-evolving expectations of our customers and consumers.

“This focus has delivered another period of pleasing continued growth, which has resulted in Moy Park achieving a top 10 ranking in the OC&C Top 150 index of Food and Drinks companies for the first time.”

Earlier this month, Moy Park won Training programme of the year​ at the Food Manufacture Excellence Awards – the Oscars of the food and drink manufacturing industry.

Moy Park’s Sajad Ahmed, from its Ashbourne Training Team, picked up the award from category sponsor Appetite Learning’s Alex Bebbington at the gala occasion – held at the Hilton on Park Lane, in London.

Related topics Meat, poultry & seafood

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