ready egg products - Neighbourhood Retailer

Sales and pre-tax profits up for Skea Eggs owner

Linda Stewart — Wed, 07 Sep 2022 09:20:03 +0000

A company which makes egg products and recently acquired Skea Eggs in Co Fermanagh has reported an increase in sales and pre-tax profits for 2021.

Lough Erne Investments in Co Fermanagh, parent company of Ready Egg Products, had revenue of £64.6m, up 10.7% from £58.4m. Pre-tax profits went from £7.4m to £9.9m.

Products made by the company include liquid, hard-boiled, scrambled and other egg products. In April, the company acquired Skea Egg Farms in Dungannon, Co Tyrone, which supplies 9.5m eggs per week to retailers across the UK.

Lough Erne Investments, which is owed and operated by the Crawford family, is based in Lisnaskea but also has a second facility in Chesterfield in England.

In a strategic report filed with the financial results, the company’s directors said there were risks and uncertainties involved in food production and processing which had to be strictly monitored.

Factors affecting activity in food production and processing included commodity markets, government and EU legislation and changes in international agriculture practices.

During the year, the average number of employees at Lough Erne Investments had fallen from 160 to 151. However, its pay bill had increased slightly, from £3.9m to £4.2m.

Looking ahead, the company said: “The economic environment continues to evolve and is making a return to relative stability and certainty. Overall, in the coming year the group aims to increase revenue and operating profits.”

It said its acquisition of Skea Egg Farms would allow for more diversification in the market and cements its position as a “leading player in the market”.

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Fermanagh food manufacturer Ready Egg Products acquires Skea Eggs

Linda Stewart — Tue, 05 Apr 2022 08:47:36 +0000

Fermanagh food manufacturer Ready Egg Products has acquired Co Tyrone-based Skea Eggs.

The company, which supplies the food manufacturing industry, is one of the biggest egg processors of its kind in the UK and owns a processing plant in England as well as its headquarters outside Lisnaskea.

Donaghmore-based Skea Eggs supplies around 9.5 million eggs per week to major supermarket chains including M&S and Sainsbury’s.

The value of the deal, which was finalised last week, has not been disclosed, but takes the Ready Eggs’ workforce from 160 to around 300 people.

The terms of the deal will see Skea Eggs continue to trade under its own brand, while members of the Hayes family will remain involved in the daily running of the business.

In a statement confirming the acquisition, a spokesperson for Ready Eggs Products said the company was “delighted” to welcome Skea Egg Farms into its group, a move they said would further diversify the Fermanagh business.

“Ready Eggs has diversified and invested in state of the art facilities producing a range of egg products including liquid egg, hard boiled, scrambled and other products with facilities in Northern Ireland and Great Britain,” the statement said.

“Ready Eggs have recently completed work on the only egg powder plant in the UK; a new product range that will soon be available.

“The acquisition of Skea Egg Farms Ltd will allow for further diversification in the group, cementing its position as a leading player in the market.

“Ready Eggs and Skea are looking forward to building on the success of two local, family run businesses with the synergies, values and decades of combined experience of the teams ensuring the future success of the business.”

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