The UK arm of Brazilian meat giant JBS, the new owner of Moy Park and suitor of Dunbia, grew sales by nearly 6% last year but profits are coming under pressure.
The UK-based beef and pork importer JBS Global (UK) saw revenues rise by 5.9% to £157m in the year to 31 December 2015. The sales boost, which does not include recently acquired Northern Irish poultry business Moy Park, brings its five-year CAGR to 8.2%.
However pre-tax profits fell 46% to £1.5m as gross profit margin decreased from 4.9% to 3.9%
JBS said it continued to expect top-line growth in the foreseeable future, noting: “[The directors] still consider Europe to be short of protein in the coming years.”
JBS Global parent JBS Group is looking to grow its business in Europe, with Moy Park now the cornerstone of newly created division JBS Europe.
JBS is rumoured to be interested in acquiring Northern Irish meat firm Dunbia after it said it was open to offers for the business late last year.
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