Manufacturing bosses in Northern Ireland have underlined the sector’s key contribution to the nation’s economy.
In the week that The Northern Ireland Manufacturing 100 revealed the best performing businesses by turnover, focus turned to the importance of firms to families across the province.
Stephen Kelly, CEO of Manufacturing NI, said: “Our manufacturing sector is big and important. Proportionately bigger and more important than in the UK.
“Since 2010, 21% more people have become employed in manufacturing. The sector directly employs almost 100,000 people with every job being wholly responsible for another 1.7 jobs elsewhere in the economy.
“That means one in four families across Northern Ireland are dependent on a manufacturing wage.”
The Northern Ireland Manufacturing 100 is sponsored by Bank of Ireland, HNH Partners, MCS Group and Power NI.
The definitive annual lowdown shines a light on the province’s manufacturing powerhouses and saw meat products firm Moy Park come out on top after turning over more than £2bn.
Notable movers in this year’s list were Lough Erne Investments, which climbed from 25th place to 19th, while AJ Power rose from 100th position to 87th.
Lisnaskea-based animal processing firm Lough Erne Investments enjoyed a 33 per cent uplift in revenue to £233m — a £58m annual increase for the year ending December 25, 2023.
Craigavon diesel generator manufacturer AJ Power has recorded one of its strongest ever financial years.
The firm attributed increased worldwide demand for its generating sets for an increase in sales from £31m to £51m.
The County Armagh firm’s profit-before-tax rose from £0.5m to £3.6m and it is also investing in a new component manufacturing facility.
Callum Thompson, CEO of Business Energy Claims, said: “It’s no secret that the manufacturing sector plays a key role in economies and communities across the UK.
“It’s always interesting to see where growth is happening in Northern Ireland and it’s clear that the province’s best performing firms continue to support families by creating key roles and sustaining professions.
“At BEC we need to be aware of where manufacturing needs support most — whether that’s with advice around choosing the right energy provider or helping to expose rogue brokers who indirectly limit job opportunities and actually affect the prospects of hard working families.”