The group also paid €1.8m in dividends, the same as it paid the year before.
Arrow Group has a diverse business portfolio that includes meat processing as well as the supply of pizzas, beverages, snacks and sandwiches in Europe, Africa and Asia. It also manufactures and distributes dog food.
Its revenue last year compared to €759.2m generated in 2023.
“Considering the current global economic situation caused by the conflicts in Ukraine and the Middle East, the threat of tariffs and the uncertainty these bring, there continues to be challenges,” note the accounts for the group, which were signed off by directors in May this year.
“The group has not been impacted directly,” they add. “However, there has been inflationary price increases in raw materials and other overheads.”
Queally Group said it is managing energy costs through forward contracts and “day ahead” rates to mitigate against sudden price increases for electricity and gas.
“The business is well placed to manage these risks through various mechanisms such as diversification, price recovery and other means as necessary,” the accounts note, adding that working capital requirements have decreased during the current year.
The group’s subsidiaries include Irish Dog Foods, Dawn Farm Foods and Glenpatrick Spring Water. Dawn Farm Foods has subsidiaries in countries including Ireland, the UK and Germany. Arrow Group had €76m of outstanding bank loans at the end of 2024, down from €79.4m a year earlier, according to its latest set of accounts.
The company employs more than 2,200 people across its sites, and last year paid €94m in wages.
Dawn Meats, in which Arrow Group has a stake, has been linked to a potential acquisition of a majority stake in Alliance Group, a meat co-operative based in New Zealand. It has been reported that the possible bid could see Dawn Meats stump up as much as €160m for a 70pc interest in the New Zealand business.
Members of the co-op are due to meet on Tuesday of next week to discuss the potential offer.
Dawn Meats employs more than 8,000 people in 10 countries and has annual revenue of about €3bn.
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