Moorepark Technology Ltd has recorded a loss of €176,000 for the 2025 financial year, according to its financial statements for last year.

Moorepark Technology is a joint venture company established by Teagasc with shareholders from the Irish food industry.

The business provides commercial, pilot plant and research services for food industry customers. It is a part of the Teagasc Food Research Centre Moorepark outside Fermoy, Co. Cork.

The business saw a turnover of €3,419,471 last year, an increase of about €160,000 on the previous year.

The cost of sales (the cost of producing goods and services) for 2025 stood at €305,504, a decrease of around €73,000 on 2024.

This gives a gross profit of €3,113,967 for 2025, an increase of some €234,000 compared to the previous year.

No Oireachtas grants were noted on the statement of income and expenditure for 2025. In 2024, €12,109 in Oireachtas grants were noted.

In the notes to the financial statements, however, a grant of €34,421 was received last year. None of this amount was released to the statement of income and expenditure.

Expenses

Moorpark Technology recorded administrative expenses in 2025 of €3,287,950, an increase of some €185,000 on the previous year.

This resulted in an operational loss of €173,983, an improvement of around €37,000 on the €211,000 operational loss in 2024.

The administrative expenses included remuneration and other pay costs of €976,783, an increase of around €46,000 on the previous year.

These figures were broken down into basic wages and salaries of €690,346 (a €54,000 increase); shift overtime and shift premium of €183,392 (a decrease of of €18,000); employers contribution to social welfare of €95,460 (an increase of around €7,000); staff training costs of €4,573 (a €1,600 increase); and staff travel and subsistence of €3,012 (an increase of about €2,000).

The average number of staff employed by the business during 2025 was unchanged from the previous year at 15.

In 2025, four employees saw benefits (including salary and overtime allowance) of between €70,000 and €79,999. There were no employees with benefits in excess of €79,999.

For comparison, in the previous year, there were no employees with benefits in excess of €69,999.

The key management of Moorepark Technology consists of the CEO; the general manager; and the financial accountant and company secretary.

These staff members are Teagasc employees, and Teagasc pays their salaries and travel costs.

Other costs

Costs also included general operating expenses (such as rents, insurance, repairs, electricity, etc) at €1,443,021, an increase of about €147,000 on 2024.

Moorpark Technology also made a loss of €5,149 on disposal of fixed assets.

This resulted in a loss on ordinary activities before taxation of €178,068, an improvement of some €34,000 on the 2024 loss of just over €212,000.

The final loss figure for 2025 stood at €176,135, an improvement of around €5,000 on the 2024 loss of €181,099.