Profit recovery achieved at meat processor Kepak
© Tim Scrivener Irish red meat processor Kepak has posted higher profits for the year ending 31 December 2021.
Pre-tax profit rose to almost £2.42m from £122,469 in the previous year, when the business came under pressure from COVID-19 restrictions.
The 2021 result was achieved on a turnover of £526.68m against £498.24m in 2020.
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A profit-after-tax figure of £1.97m was achieved compared to a loss of £467,351 the previous year.
In its annual report, the company said it had been impacted negatively from an operations perspective as a result of Covid-19.
However, overall it experienced robust demand and has been trading satisfactorily during the year, it said.
The annual report said the outlook remains positive, but that the export arm of the business had been negatively impacted as a result of Brexit and was unlikely to improve in the short term.
Kepak is one of Europe’s largest meat groups, with 10 factories across Ireland and the UK.