In its consolidated FY2025 results, protein supplier Pilgrim’s Europe reported a rise in both operating profit and business revenue.
Revenue increased to £4.12 billion (2024: £4.07 billion), while operating profit increased to £267.7 million (2024: £242.4 million). Operating profit margin, before the impact of restructuring costs, remained “resilient” at 6.5% (2024: 6%), which Pilgrim’s said reflected ongoing investment across the business and changes in portfolio mix.
Pilgrim’s Europe said the performance was also supported by growth in poultry, disciplined operational execution and continued investment in the group’s manufacturing, farming and supply chain capabilities, with £108.6 million capex in the period.
“Whilst trading conditions remain mixed across parts of the sector, particularly within pork, our integrated business model, talented people and strong customer relationships leave us well positioned for the future.”
Ivan Siqueira, Pilgrim’s Europe
Ivan Siqueira, president Pilgrim’s Europe commented: “FY2025 marked another year of strong progress for Pilgrim’s Europe as we continued to realise the benefits of operating as one integrated business.
“We delivered growth across our poultry operations, improved profitability in our value-added portfolio and continued investing in our agricultural, manufacturing and innovation capabilities to support long-term growth.
“During the year, we strengthened our position as the UK’s leading own-label food supplier, deepened strategic customer partnerships and continued helping customers meet changing consumer expectations through innovation, welfare leadership and supply chain resilience.
“Whilst trading conditions remain mixed across parts of the sector, particularly within pork, our integrated business model, talented people and strong customer relationships leave us well positioned for the future. I would like to thank our 17,000 colleagues, farmers, suppliers and customers for their continued commitment and support.”
Growth in poultry was said to be driven by operational improvements, customer contract wins, disciplined cost management and strong commercial execution. The business continued to strengthen relationships with key retail and foodservice customers while securing new commercial opportunities.
In the pork business, Pilgrim’s said it had continued to make strategic progress despite “softer market conditions” during the second half of the year. It also agreed a partnership with Waitrose to support the supermarket’s transition to 100% British free-range pork by 2027.
Outlook for FY2026
For the first half of FY2026, Pilgrim’s reported sales and volume growth across its poultry and meals categories, supported by customer demand, product launches and continued growth in premium own-label categories.
However, it also highlighted a “challenging” external environment as it saw ongoing pressure on consumer spending and continued volatility in agricultural commodity markets.
Looking ahead, Pilgrim’s Europe said it remains focused on executing its strategic priorities, including expanding poultry farming capacity, increasing British pork export value, optimising pig procurement and progressing the proposed acquisition of Walker’s Deli & Sausage Company, subject to Competitions and Markets Authority (CMA) approval.
