Profits soaring at Northern Ireland’s top companies

The Ulster Business Top 100 Northern Ireland Companies 2022 list, produced alongside the corporate legal firm A&L Goodbody, shows combined pre-tax profits among the biggest firms here rose by 46% to £1.367bn, up from £936.8m, based on previous accounts.

Meanwhile, combined sales among the top 100 companies rose by just 2.6% during the same period – from £26.1bn to £27.7bn.

This 2.6% growth is down from the 10.4% growth recorded in the Top 100 the previous year.

The list has showcased the performance of the biggest firms from right across Northern Ireland, ranked by turnover, for more than 30 years.

It uses data from Dun & Bradstreet and the latest accounts filed to Companies House in the UK, with data including more recent filings for many firms covering the period since the start of the Covid-19 pandemic.

Of the 100 companies making the list just eight declared losses for their last financial year.

Moy Park has topped the list once again, posting turnover of £1.46bn and pre-tax profits of £82.7m for its latest filed accounts, followed by W&R Barnett with turnover of £1.27bn and pre-tax profits of £51.3m, coming in the second spot.

There are also a host of new companies making this year’s list, with around a dozen businesses joining in 2022.

With energy costs for consumers soaring, the newcomers include firms such as T W Scott & Sons (Fuels) Ltd and Budget Energy Ltd which have made their way up from the Next 200 list, which follows on from the Top 100 and charts the success of our leading SMEs.

And other firms making the list this year include Fourds Ltd – the Magherafelt-based business which counts Bloc Blinds among some of its arms.

Ulster Business has partnered with corporate law firm A&L Goodbody for the last seven years with the Top 100.

“While the last two years have been some of the trickiest periods for business and wider society in a generation, the performance of many of our biggest businesses is testament to the hard work which goes in to running a Top 100 company,” John Mulgrew, editor of Ulster Business, said.

“Although the next 12 months will present yet another set of challenges for companies amid double-digit inflation and energy costs, this year’s Top 100 is a clear indication of the resilience and buoyancy of our largest firms.”

Michael Neill, head of Belfast office, A&L Goodbody, said: “Many businesses are aware of the persisting challenges posed by Covid-19, Brexit and an uncertain domestic and global economy.”

Mr Neill added: “The Top 100 continue to take every measure to mitigate against those.”