Food Firms head Northern Ireland profit league

Twenty-three of the 200 most profitable companies in Northern Ireland are in agri-food, the region's biggest manufacturing industry, according to a new business survey.

The most profitable food manufacturing business is poultry processor Moy Park of Craigavon in county Armagh, which is listed at 10 in the annual Profit 200 survey for Business Eye, one of Ireland's leading business magazines, sponsored by Danske Bank.

Moy Park recorded a pre-tax profit of £36 million on sales of £1.4 billion in the year ended 31st December 2015, Northern Ireland's companies with turnover in excess of £1 billion.

Moy Park is listed at 10 in the survey. Other food and drink companies in the top 20 include Old Bushmills Distillery in county Antrim and wholesalers SHS Group and John Henderson (Holdings), both based in county Antrim.

Included in the remaining 180 most profitable businesses are Ready Egg Products of Lisnaskea, county Fermanagh, Coca Cola HBC,Lisburn, county Antrim, Dunbia, Dungannon, county Tyrone, Skea Eggs, Dungannon, county Tyrone, Lynn's Country Foods, better known as Finnebrogue Artisan, Downpatrick, county Down, Avondale Foods, Lurgan, county Armagh.

Commenting on the survey, Shaun McAnee, managing director of Corporate and Business Banking at Danske Bank, says: "It is clear from the strong financial results posted by the businesses on this list that we have more than our fair share of high quality, market leading organisations.

"Of course, we know there are challenges ahead. Whatever the long term outcome, the Brexit process we will go through in the next few years is unlikely to be plain sailing and could impact on some of our leading firms."

He added that companies are "focused on continually improving what they do, improving products and services, being more efficient, more inventive and more responsive".