Moy Park Profits: Pilgrim’s Europe Sees £100m Surge
- * Pilgrim's Europe (including Moy Park) saw meaningful profit increases: Profits reached €113 million,with Moy Park specifically reporting £98.1 million in profits - a 34% increase year-on-year.
Here’s a summary of the key data from the provided text:
* Pilgrim’s Europe (including Moy Park) saw meaningful profit increases: Profits reached €113 million,with Moy Park specifically reporting £98.1 million in profits – a 34% increase year-on-year.
* Turnover slightly decreased: Total turnover for the company was £1.96 billion (€2.25 billion), a slight decrease.
* Restructuring: The results follow a restructuring involving the integration of Pilgrim’s UK and Pilgrim’s food Masters.
* Key to Success: The firm attributes it’s success to operational improvements, securing key customer contracts, favorable trading models, customer negotiations, and a decrease in commodity prices (deflation) which offset rising labor costs.
* Director Remuneration: Directors are paid by parent companies. The highest-paid director received £935,000 as an apportioned element of their salary.
* Employment: The company employs over 9,300 people across the UK and Europe.
* Reporting Period: The results are for the period ending December 2024.