One of the UK and Ireland’s largest beef processors has announced pre-tax profits of more than £20 million for 2025.
Foyle Food Group Holdings, a family-owned business with a 45-year track record in the beef supply chain, also increased its turnover to more than £638 million last year.
It ended the year with net assets of £86.2 million.
In its latest set of financial results for the year ending December 2025, Foyle Food Group Holdings highlighted the impact of “increases in livestock prices”, particularly in the first half of last year, on its operations.
He explained that “buying and selling margins were negatively affected” by livestock prices in 2025.
Furthermore, operating costs were identified in the financial statements as a factor last year, particularly in relation to “third party labor.”
In their strategic business report for 2025, the group’s managers said they were satisfied with the year’s results despite “challenging market conditions.”
They added: “Interest rates continued to have a significant impact during the year.
“The level of borrowings has increased modestly in line with trading requirements, coupled with higher working capital investment, reflecting prevailing market conditions.”
Foyle Food Group Holdings last year employed more than 1,374 people, a slight increase on 2024 figures, across eight facilities, including five in Northern Ireland, one in Donegal and two in England.
The group, mainly controlled by the Acheson family, slaughters and boners an estimated 7,000 head of cattle each week across its five processing plants and rendering facilities.
Many of its facilities are US Department of Agriculture (USDA) approved, which Foyle Food Group Holdings believes will help the company “further develop this market when trading conditions permit.”
Earlier this year (in March) the Northern Ireland processor praised the US-UK Free Trade Agreement which had provided a major boost to its business.
The deal helped pave the way for Foyle Food Group to export its first shipment of duty-free beef to the US under the UK-US Economic Prosperity Agreement valued at more than £190,000.
Beef processor
In relation to its 2025 financial accounts, the Tyrone-headquartered beef processor explained that group turnover was “no longer considered a key indicator of performance as it was significantly influenced by fluctuations in cattle prices rather than underlying operating performance”.
An interim dividend was paid during 2025 of £3.4m but directors did not recommend a final dividend for last year.
According to its directors, while agricultural markets “still face a number of challenges”, they believe the group is well placed to manage these challenges and capitalize on any opportunities.
However, they also noted that the fallout from Brexit continues to create a “degree of uncertainty” for the group, particularly due to the geographic spread of its operations.
Foyle Food Group Holdings also noted in its latest set of financial results the impact of the ongoing conflict in Ukraine and the Middle East on its business, highlighting that this contributed to “inflationary pressures”.
The company believes that among the key risks the company now faces are the uninterrupted supply of livestock for processing, buy/sell margin, cost control, and changing consumer behaviour.
