Troy Meats called on to pay farmers for cattle

Three farmers have detailed how they are owed over €130,000 between them from the Westmeath-based Troy Meats and called on the factory to pay them what they are owed.

One farmer from the midlands told the Irish Farmers Journal he is owed €59,000 from the meat processor for cattle that he sent for slaughter back in mid-January.

He said he was told he would be paid in a week or a fortnight but as of Tuesday 25 February had still not received payment.

“I’m still waiting. They won’t answer the phone or tell us when we’ll be paid.

“I’ve bills to pay like everyone else,” he told the Irish Farmers Journal.

The farmer said he is considering speaking to a solicitor on the matter.

Outstanding payments

Another farmer from the midlands is owed almost €30,000 from the company for cattle he sent there at the end of January.

“The agreement was that I’d be paid within the week or two weeks,” he said.

However, he too is waiting for payment. A third farmer is owed €50,000 by the meat factory.

The Irish Farmers Journal has contacted Troy Meats for a comment on the delayed payments, however, none was forthcoming as this newspaper went to print.

The Irish Farmers Journal asked the Agri-Food Regulator if it had been contacted by farmers in relation to delayed payments from the factory.

I’m still waiting. They won’t answer the phone or tell us when we’ll be paid. I’ve bills to pay like everyone else

In response, a spokesperson said that the regulator “provides a confidential complaint process for suppliers of agri-food products who feel they have been subjected to an unfair trading practice.

“The regulator encourages anyone with a complaint to contact the office in confidence.”

IFA livestock chair Declan Hanrahan advised farmers to be assured of the terms and conditions of payment for cattle at all factories and to insist on payment on the day of delivery.

Accounts

Troys Abattoir Ltd’s, the owner of Troy Meats, most recent set of accounts lodged with the Companies Registration Office (CRO) show that the processor made a loss before tax of €258,095 on a turnover of €26.1m in 2021.

The company was due to produce its annual return for 2022 in September 2023, and for 2023 in September 2024.

Accounts for the years 2022 and 2023 have not been filed at the CRO.

This makes it impossible to get an up-to-date view on the financial health of the company.

The 2021 accounts did include a projection for future financial performance which stated that due to a “significant investment” in 2021, full year turnover for 2022 was expected to be €35.8m with a profit of €290,990 rising to a turnover of €50m in 2023 and a profit of €475,043.

That projection means that turnover at Troys Abattoir Ltd was expected to almost double between 2021 and 2023.