Northern Ireland

Moy Park in £27.8m pre-tax profit

Image caption Moy Park said it had entered the turkey sector for the first time

Northern Ireland's largest food processing company, Moy Park has reported a pre-tax profit of £27.8m.

The company also reported a rise in sales of 18%.

Moy Park is now part of the Brazilian food company Marfrig. They supply their own label and branded chicken products to different stores across Europe.

Managing director Nigel Dunlop said the acquisition of O'Kane Poultry in 2010 enhanced its poultry farming and processing capacity.

He added that it had also permitted the company to enter the turkey sector for the first time.

But he warned of the challenge of overcoming feed price and energy inflation.

"The poultry sector has witnessed major increases in input costs over the past twelve months, representing up to £1 per bird, due primarily to increases in feed and energy prices," Mr Dunlop said.

"Agri-food is playing a major part in the rebuilding of the local economy.

"The poultry sector is a crucial part of this, employing thousands of people, and as such it remains essential to ensure that such costs are fully recovered from the market."