Moy Park sales reach £1.6 billion; director paid £2.5 million

Moy Park’s annual sales grew 4% to £1.6 billion in 2018, while operating profit rose 2% to £72 million, according to accounts filed with Companies House.

The firm’s annual report and financial statements cover the year ending 29 December 2018 and show 10,061 people were employed across the company’s processing sites in Northern Ireland, England, France and the Netherlands.

Moy Park is Northern Ireland’s largest private sector company and in 2017 was acquired by US-based Pilgrim’s Pride. The accounts show that in 2018, the highest paid director at Moy Park received £2,538,000 plus £74,000 in pension contributions. This is a significant increase on 2017, when the highest paid director received £885,000 and £45,000 in pension contributions. In 2018, Chris Kirke replaced Janet McCollum as chief executive.

The balance sheet shows net assets of £252.0m (2017: £294.5m), a decrease of 14% on 2017. The report states Moy Park intends to continue focussing on investing in its infrastructure to maintain the high standard of its factories, and on efficient management of its cash, debt and working capital. In 2018, the company invested £43m in its infrastructure.

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