Northern Ireland's Dunbia reports rise in turnover

Dunbia, the Northern Irish meat processor has seen turnover edge closer to £800 million. The company, based at Dungannon in county Tyrone, made a series of acquisitions during the year.

Pre-tax profits at the business, however, slipped by almost £3 million following infrastructure investment.

In the year to 30 March 2014, Dunbia reported a turnover, including its share of a joint venture, of £769 million, up from £727 million for the same period the year before. Group turnover without the joint venture increased from £722 million to £758 million.

Writing in the financial report, group managing director Jim Dobson said the increase was because of a "continued focus on product development, volume throughput and price inflation".

However, pre-tax profit fell from £7.4 million to £4.6 million. This was partially attributed to one-off costs of £1.75 million stemming from infrastructure investment to support a "significant contract" won with a major retailer.

A number of acquisitions were made during the year, the first of which was snapping up the remaining 50 per cent shareholding of Dunrus Ltd in April 2013.

In May 2013 the company acquired 100 per cent of the shareholding of Wood & Sons (Holdings) Ltd, which was followed by the 7 February 2014 acquisition of Dunbia Ayr Ltd.

Dobson added that the company's strategy for the current financial period would be one of "product development and volume growth".

"While the group and industry as a whole have battled with fluctuating/increasing livestock prices the group has been able to work closely with customers in retaining gross profit margin and will continue to do so," he added.

"The focus each and every period is heavily weighted towards maintaining a stable and high quality supplier base."

Dunbia also took on more than 200 staff during the period, increasing its workforce from 3,039 to 3,256.