Goodman bounces back Irish entrepreneur Larry Goodman, the controversial personality who is probably the most powerful player in the red meat industry in the Uk as well as of the Republic, has staged an astonishing financial recovery from the disaster which hit his processing and exporting empire a decade ago. Irish Food Processors has reported buoyant profitability and an immensely strong balance sheet. The group which includes leading British slaughterhouse Anglo Beef Processors, major supplier to Sainsbury and Asda, earned IR£26m on turnover of IR£720m in the year to March 31 last year, up from IR£16.5m in the previous period. Earning rate on average shareholders' funds was about 19%. Commercial pressure will of course have been suffered since then due to FMD and the BSE related problems in the Irish and Continental beef market, but Goodman had ample resources to cope: shareholders' funds exceeded IR£137m, including IR£93m of cash. {{MEAT }}