Friday, May 24, 2024

Northern Ireland industry giant W&R Barnett sees sales rise to £1.8bn

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William Barnett

One of Northern Ireland’s largest firms has seen sales rise to more than £1.8bn.

Family-owned multi-generational W&R Barnett has seen turnover rising to £1.81bn, while posting pre-tax profits of £62.3m for the same period ending July 2023, according to accounts for W&R Barnett Ltd.

It remains one of Northern Ireland’s most successful and biggest family-owned and run businesses, and sits just behind Moy Park based on turnover.

W&R Barnett took the number one position in the Ulster Business Top 100 Northern Ireland Companies 2023 list, with KPMG.

The group was formed in 1896 and is currently headed by William Barnett. It’s a business with several strands, including the international trade in grains and derivatives, molasses trading, animal feed and packaging.

The company says it acquired two-thirds of shares in Durham Box Company Ltd in June 2023, through one of its subsidiaries, and in July the same year it took on 13% of Ceres (East Midlands) Ltd for £13.2m, bringing its holding from 87% to total ownership of 100%.

W&R Barnett says both the level of business during the year and the financial position at year-end were satisfactory.

It remains a giant of industry here, but one which is still family-led and now in its fourth generation.

In its previous accounts, it saw turnover grow from £1.275bn to £1.575bn in its latest set of accounts for W&R Barnett Limited, ending July 2022.

And in that period it’s seen pre-tax profits rising to £69.1m, up from £51.3m a year earlier.

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