Pretax profits slumped at one of the largest meat processors in the State last year.
New accounts filed by the family-owned Arrow Group Ltd show that profits in the business fell by 44 per cent last year to €15.79 million as it struggled with rising costs.
Sales rose by 6 per cent to €794.12 million in 2025 but cost of sales climbed more rapidly – by 9 per cent, or over €55 million to €698.05 million.
The group which is owned by the Queally family, who also own shares in Dawn Meats – had made profits before tax of €28.38m in 2024.
RM Block
The group paid out a dividend to its shareholders of €1.8 million last year that followed a similar dividend payout in 2024.
The directors for the Waterford-headquartered business said 2025 “has delivered a positive trading year” with that performance “attributable to continuing activity with existing customers and the onboarding of new customers along with new product lines across all key markets”.
“This was offset somewhat by varied protein, transport and commodity price fluctuation on the world markets. However, the group continues to benefit from positive customer sentiment and maintenance of market share,” they said.
Along with its pork and meat processing and meat trading, the group also produces a range of food and drink value added products and manufactures and distributes pet foods.
It recorded a profit after tax of €11.38 million after allowing for a corporation tax charge of €4.4 million.
Numbers employed by the group were stable last year at 2,213, of whom 1,806 work in production with 407 in administration and sales. Staff costs rose 4.5 per cent from €107.55 million to €112.39 million.
Six Queally family members sit on the board – John, Michael, Marie, Ivor, Liam and Irene Queally. Aggregate pay, including pension contributions to directors and connected persons, increased by 8.7 per cent from €2.18 million to €2.37 million.
The profit figure takes account of non-cash depreciation and amortisation costs of €21.9 million. It also covers losses on foreign exchange of €2.38 million as well as research and development (R&D) costs of €2.94 million, a €900,000 impairment of a financial asset and interest of €3.64 million. That was offset by a gain of €2.34 million on the revaluation of investment property.
Shareholder funds at the end of December totalled €281 million. That included €258.96 million in accumulated profits. Cash funds at year end were €34.9 million, down from €55.46 million the year before.
