Northern Ireland agri-food company Mash Direct reported a 7% decline in pre-tax profits to just over £1m (€1.2m) for its financial year to the end of February 2017. Accounts recently filed with the company’s office show the family-owned business grew sales by 7% in the year, close to £16m (€18.2m).

Operating profits at Mash Direct declined 7% in the year to £1.2m (€1.4m), as profit margins tightened from 8.6% to a still very healthy 7.5% last year. Earnings (EBITDA) stood at £2.1m (€2.4m). Based in Co Down, Mash Direct employs over 170 staff and sources vegetables and produce from 63 farmer suppliers.

The business was established in 2004 by Martin and Tracy Hamilton on their family farm and has grown rapidly after winning supply contracts to the likes of Tesco, Dunnes Stores, Sainsbury’s, Asda and Morrison’s. Almost half of the company’s sales comes from the UK mainland and this is set to grow in the years ahead.

Mash Direct announced new supply deals in early 2017 with Morrison’s and Asda that will see the company expand its reach within the UK market.

Women & Ag - Tracy Hamilton of Mash Direct

Profits fall at Northern Ireland-based Mash Direct

The family-owned business will supply Morrison’s nationwide network of stores with a range of its products