In a challenging fiscal year marked by supply chain disruptions and a decrease in turnover, Begley's Fresh Produce, headquartered in Dublin, Ireland, faced a downturn. The Terway UC, steered by the Begley family, disclosed a pre-tax loss of €541,132 in 2022, contrasting sharply with the prior year's pre-tax profit of €145,407. This represents a substantial negative shift of €686,539.
The company's revenue fell by 8% to €42.49m, down from €46m. Terway UC, a collaboration between Fountain Capital and Simply Fresh Ltd owned by the Begley family, expressed disappointment over the year's financial outcomes, attributing the losses to supply chain challenges and a diminished turnover. Despite the setbacks, there is a strategic plan aimed at revitalizing profitability.
Begley's Fresh Produce operates from a state-of-the-art, temperature-controlled depot at Kilshane Cross and maintains several cultivation sites across Dublin and Ireland, farming over 1,000 acres of vegetables and salads. The company, with over three decades of partnerships with Irish growers, plays a crucial role in marketing a significant volume of locally grown produce. Revenue analysis revealed €41.34m was generated within the Republic, and €1.14m in Northern Ireland.
The workforce was reduced from 82 to 66, even as employment costs slightly increased to €3.2m. The year saw changes in the directorial board, with Gregory Begley, Mary Begley, and Alan Green listed as directors for 2022. However, Alan Green stepped down in December 2022, and Andrew Kelliher joined in March of the same year.
Source: independent.ie