Six companies in Northern Ireland now have turnover of over £1bn, with Moy Park reporting the biggest sales of all, it’s been revealed.
The Ulster Business Top 100 Northern Ireland Companies 2024, in association with KPMG, charts the success stories of the Northern Ireland economy in order of turnover.
And it shows that Northern Ireland’s biggest firms have reached all-time record sales levels, with six now reporting £1bn-plus in turnover.
Across the Top 100, turnover has reached a record level of £35.2bn, up 17% on the previous accounting period.
However, average pre-tax profits fell by 8% to £1.32bn.
The Ulster Business Top 100 listing includes the results of Northern Ireland-domiciled companies, either with a registered office here or when a significant portion of the company’s business is driven and transacted through the region.
Moy Park Holdings (Europe) returned to the top spot for 2024 with turnover of £1.88bn and pre-tax profits of £18.7m.
Some of the newcomers to this year’s list include Kingsbridge Healthcare Group, coming in at 96, which recently sold a majority stake in the business for a reported £300m.
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Wholesale and distribution grocery business D&W Carlisle has joined the list at number 100, while Charles Brand Group has shot into the number 74 position.
Johnny Hanna, partner-in-charge of KPMG in Northern Ireland, said: “Looking at the Top 100 Northern Ireland Companies listing suggests the local economy has, for a large part, enjoyed a buoyant year.
“Of note, there are now six companies in Northern Ireland with turnover of over £1bn — two more than last year and a significant improvement on 10 years ago when we counted just one.
“As KPMG enters its 50th year of operation in Northern Ireland, we are very much in growth mode and see huge potential, not just for our business but for our clients too.
“Because of a world-class education system, a dynamic broad-based economy and a standard of living rated one of the best in the world, Northern Ireland now has a diverse, highly skilled workforce from around the world to power our ambitions.”
John Mulgrew, editor of Ulster Business, a sister publication of the Belfast Telegraph, said: “The Ulster Business Top 100 Northern Ireland Companies 2024, in association with KPMG, once again shows the prowess and ability of many of our biggest and best firms to grow, expand and reach new market. This year, sales are at record levels, while pre-tax profits have softened somewhat — perhaps pointing to the impact of rising costs, higher borrowing and skills shortages for some companies, hitting that bottom line.
“We have newcomers to this year’s list, and stalwarts who remain at the top, with many others rising. And we continue to see an ever greater range of businesses making the list. Long may that continue.”
Moy Park Holdings (Europe) published its most recent accounts for 2022 at the end of September last year.
Turnover of £1.88bn had climbed 19% from £1.58bn in 2021, though pre-tax profits dropped 37% from £29.7m to £18.7m.
The Craigavon-based business has 9,619 employees across facilities in Northern Ireland, the Netherlands and France.