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Arrow Group in the Red

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Arrow Group in the Red

August 04
12:17 2010

Arrow Group has posted a Eur1.9m pre-tax loss on revenue down 18% to Eur340m for 2009, compared to a pre-tax profit of Eur4.6m in the previous year, as the Irish meat processor was impacted by reduced consumer spending and the weakness of sterling. Controlled by brothers Peter, Michael and John Queally, who also own Dawn Meats, Arrow Group’s activities include pig processing, a Barcelona-based water distribution business and a 50% stake in Irish chocolate confectionery manufacturer Lily O’Brien’s. Arrow Group had net debt at the end of December 2009 and employed almost 1,700 people.

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