Nigel Dunlop, Moy Park CEO, commented: “Despite a difficult economic and trading environment, Moy Park delivered a strong trading performance in 2012. The business grew its turnover by 1.6 percent to £1.09 billion and has posted profits of almost £25 million.
“The improvement in pre-tax profit and trading margins was achieved by a combination of initiatives including operating cost improvements and productivity initiatives which helped shield the business from the difficult market environment.
“In line with our strategy, and to support our customers’ requirements to grow sales of chicken farmed in Great Britain and Northern Ireland, we will continue to invest materially in our industry leading farming and operational base. We will also continue to further develop our commercial capabilities through areas such as innovative food development, consumer insight and effective customer and category marketing.”
The company has announced a number of initiatives over recent months. In February, it published plans for a major £20 million investment in its Grantham food processing site which will see a state-of-the-art convenience food facility built creating over 150 additional jobs.
The same month, Moy Park revealed that it had achieved energy savings in excess of £2 million since 2011, including a reduction in energy consumption of 8 percent.