Profits lift by 20% at Pilgrim’s meat processors

Pilgrim’s Europe reported a profit after tax of £128.4m for the 2024 financial year, an increase from £106m in 2023.

However, total revenue was back marginally on the year at £4bn.

The major meat processor operates more than 40 sites in the UK, Ireland, France and the Netherlands and includes Pilgrim’s UK, Moy Park and Pilgrim’s Food Masters under its umbrella.

See also: AHDB aims to stimulate demand in lacklustre pig market

Pilgrim’s Europe president Ivan Siqueira said: “The results demonstrate how integration over the past two years has strengthened Pilgrim’s Europe’s marketplace presence while cultivating a more nimble, customer-focused organisation to further scale profitable growth in 2025 and beyond.

“The combination of innovation, deep customer partnerships and a growing branded offer has helped us outperform the market in several key categories.”

Pilgrim’s recently announced a 10-year partnership with Waitrose, which will supply the retailer with 100% free-range, own-label British pork by 2027.

Earlier this summer, Pilgrim’s also unveiled 20-year contracts for farmers in its pig supply chain.

Pilgrim’s agriculture director, Fabio Brancher, said: “Our new 20-year farmer contracts are a clear demonstration of how we’re giving those considering diversification into pig production, or existing producers looking to expand a unique opportunity to build a business, with guaranteed long-term profitability.”

Pilgrim’s reported that retail demand for poultry remained strong during the first half of 2025, however, demand for pork and lamb had reduced due to its higher price point and tighter consumer budgets.

Looking forward, the processor warns that the wider UK pork and poultry industry faces tighter regulation, which is already resulting in investment and planning constraints.