Despite soaring raw material costs, Moy Park has boosted profits by 50% and increased sales by 20%.

The Northern Irish poultry giant ended the year to 31 December 2010 with sales of £921.1m, up 18% on 2009's £780.6m, while pre-tax profits were up 51.8%, from £18.3m to £27.8m. In its accounts to Companies House, the directors said the company had invested heavily in manufacturing capacity and new processing technology in 2010 to better serve its retail, manufacturing and foodservice customers. The acquisition, in August 2010, of poultry producer O'Kane Poultry had also increased its chicken farming and processing capacity and given it an entry into turkey, it said.

"Despite the challenges presented by the increase in raw material costs, Moy Park is well positioned to realise its future strategic goal of becoming a leading food company in the UK and Europe," the directors added.

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