One of the largest beef processors in the UK and Ireland has reported pre-tax profits of more than £20 million for 2025.

Foyle Food Group Holdings, which is a family owned business with a 45-year track record in the beef supply chain, also grew its turnover to more than £638 million last year.

It closed the year with net assets valued at £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 cattle prices" particularly in the first half of last year, on its operations.

It detailed that the "buy-sell margin was adversely affected" by cattle prices in 2025.

On top of this operating costs were identified in the financial statements as a factor last year, particularly in relation to "third-party labour".

In their strategic report on the business during 2025, the group's directors said they were satisfied with the results for the year despite "challenging market conditions".

They added: "Interest rates have continued to have a significant impact during the year.

Foyle Food Group Holdings last year employed more than 1,374 people, up slightly on 2024 figures, across eight facilites, including five in Northern Ireland, one in Donegal, and two in England.

The group, which is chiefly controlled by the Acheson family, slaughters and debones an estimated 7,000 cattle each week across its five processing plants and rendering facilities.

Several of its facilites hold US Department of Agriculture (USDA) approval, which Foyle Food Group Holdings believes will help the business to "develop this market further as trading conditions allow".

Earlier this year (in March) the Northern Ireland processor lauded a US/UK tariff-free trade deal which delivered a major boost for its business.

This deal helped pave the way for Foyle Food Group to export its first tariff-free shipment of beef to the US under the UK-US Economic Prosperity Deal valued at more than £190,000.

Beef processor

In relation to its 2025 financial accounts, the Tyrone-headquartered beef processor detailed that the group's turnover is "no longer considered to be a key performance indicator as it has been significantly influenced by fluctuations in cattle prices rather than underlying operational performance".

An interim dividend was paid during 2025 of £3.4 million but directors did not recommend a final dividend for last year.

According to its directors, while agricultural markets "continue to face a number of challenges", they believe the group is well positioned to manage these and to take advantage of any opportunities.

However they also identify that the fallout from Brexit continues to create a "degree of uncertainty" for the group, particularly because of the geographical spread of its operations.

Foyle Food Group Holdings also pointed in its latest set of financial results to the impact of ongoing conflict in Ukraine and the Middle East on its business highlighting that this has contributed to "inflationary pressures".

Among the key risks, it believes, that the business now faces is the ongoing supply of cattle for processing, buy/sell margin, cost control and changing consumer behaviour.