UK and Irish poultry sales set to increase by 3-4% – Moy Park
Poultry sales are expected to grow faster than other proteins, at around +3-4%, Janet McCollum, Moy Park’s Chief Executive, says.
McCollum was detailing Moy Parks strategy for 2015 at an event by its parent company Marfrig Global Foods when she said poultry sales would increase due to its price point against other meats and its standing as a versatile and healthy protein.
“UK consumers’ preference for local produce represents an opportunity to grow domestic sales as around 40% of poultry is imported to the UK,” she said. Moy Park is “to continue to grow its fresh poultry business in the UK and Ireland, ahead of the market,” she said.
McCollum said the business had increased its processing capacity, and was on target to achieve slaughter numbers of 5m birds per week this quarter.
The company says that approximately 78% of its revenue comes from the UK and Ireland, which it supplies with fresh, ready to eat and coated products, mainly into retail. The other 22% comes from continental Europe, which is dominated by sales of convenience products in the foodservice sector, it says.
“Therefore it is clear to see that cross-selling opportunities exist to drive further growth,” said McCollum. Sales growth in Asia and Africa are also part of the company’s plans; it has set an overall target for net sales set at +8.5-10% by 2018.
Moy Park net revenues were up 17% to £1.1 billion for 2014 and net revenue increased by 13% in the fourth quarter of 2014, the company’s full year results for 2014 show.
“The increase was positively impacted by currency exchange rates, and strong sales volume increases of fresh poultry and convenience coated products across the retail and foodservice channels in the UK and Ireland,” Meat Trades Journal says.