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Slaney Foods, Irish Country Meats Owner Reports Pre-Tax Profit Of €3M

Wexford Beef and Lamb Unlimited (WBL), which owns Slaney Foods and Irish Country Meats, has reported a pre-tax profit of €3.12 million last year.

The group is co-owned by Larry Goodman's ABP Food Group and Dungannon-based Linden Foods - each owning a 50% stake.

Satisfied & Cautious

As reported by the Irish Examiner, recently filed accounts show that WBL generated revenues of €340 million in the 12 months ending 30 September.

WBL recorded a gross profit of €76.12 million after cost of sales totalled €263.48 million.

The group employs up to 970 people, with staff costs amounting to €33.13 million last year.

The group stressed that, while it is satisfied with the results for the period, it is weary that a hard Brexit has the potential to "adversely impact the group’s industry".

It added that it has begun strategic and financial planning to mitigate the potential backlash of the UK crashing out of the EU.

The Irish Examiner also reported that a Slaney Foods meat processing plant is still being picketed by farmers as part of an ongoing protest over beef prices.

© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.

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