DERRY meat processor Foyle Food Group has reported increases in turnover, profits and staff numbers as the firm continues a long-term investment programme.
The Campsie-headquartered firm has grown its turnover by 3 per cent from £297.2 million to £306.1 million, based on sales which total £284.6 million.
The group and its subsidiaries also posted a substantial increase in pre-tax profit of 36 per cent to £4.1 million for the year ending December 2016.
Total comprehensive income rose by 38 per cent from £3.2 million to £4.4 million in a strong year for the Derry group.
The company results further show that staff numbers increased from 1,007 to 1,033, with the wage bill rising to over £25 million, while both gross and operating profit margins rose marginally over the year.
In the strategic report accompanying the accounts the directors said they were "pleased" with both the result for the year and the group position at the year end. They further outlined future plans for growth.
"The Group intends to continue its commitment to capital investment to provide high quality products and services to its customers. There are many challenges facing the agricultural markets including sourcing supply and the challenge of competitors.
"The Group believes it is well positioned to meet these future challenges and opportunities within this challenging market-place," they said.
The group is wholly owned by the Acheson family and now in its fourth decade.
The business is one of a handful of producers in Europe with approval to export to the United States.
The firm's parent company is Faughan Limited, which recorded a profit of £2.8 million for the financial year ending December 31 last.
