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Tayto owners see profits go up by £5m

By Margaret Canning

Published 17/03/2016

Iconic: Mr Tayto
Iconic: Mr Tayto

Tayto Crisps owner Manderley Food Group has announced after-tax profits of nearly £5m - up from £2.9m a year before.

Manderley is the parent company of the group led by the Hutchinson family, who founded Tayto in Tandragee in 1956.

As well as its own brand of crisps, it has also manufactured own brand crisps.

Turnover had fallen by 2.7% to £174.2m over the year to June 27 2015, though after-tax profits had rocketed by 73%.

A strategic report accompanying the results said that there had been a "strong performance" in turnover, profit and earnings before interest, taxes, depreciation and amortisation (EBITDA).

It said its market "continues to be challenging due to significant competition in the retail sector and continued pressure on consumers".

"But while there is the continued risk of volatility of raw material prices, the directors are confident that the group has adequate resources to continue operating for the foreseeable future."

And it said that it faced risks in availability of some raw materials and due to price changes.

"The directors intend to continue to build on the relationships with suppliers and customers to look for ways to improve upon the productivity and efficiency gains already achieved."

Staff numbers were up from 1,378 to 1,419 during the year.

As well as selling and distributing crisps and other snack foods, the company's strategic report also details "the development of property" among its interests.

But it goes on to say that "principally the group's entire turnover in the period was derived from potato crisps and snack foods".

Manderley is headquartered in Corby, but still retains a large amount of its production in Tandragee, Co Armagh.

The company has grown in the last decade, buying sites in Corby and Scunthorpe from one-time rival Golden Wonder, as well as Red Mill Snack Foods and Jonathan Crisp.

73%

Increase in after-tax profits at Tayto owner Manderley Food Group

Belfast Telegraph

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