29. Manderley Food Group
Published 23/04/2013 | 10:51
Group chief executive: Paul Allen
Pre-tax loss: -£15.8m
Manderley Food Group is now an English registered company with headquarters in Corby. The original company was Northern Ireland Tayto, producing and distributing potato crisps and snack foods.
Today's larger group is the result of an extensive purchasing programme by the original shareholders from the Hutchinson family in Tandragee when they bought a number of production units in England two to three years ago.
Whilst the value of turnover remained stable in the most recent year, the operating and pre-tax profits deteriorated sharply. The year 2011 was described by the directors as disappointing.
Their report points to two major adverse features in 2010-11.
In operating terms, there was a significant increase in raw material costs which has now been followed in 2012 by a sales price increase. Second, because of the changed market conditions, the group has rationalised production facilities with the closure of a plant in Wednesbury.
In the annual accounts for the year to July 2, 2011, the operating results include a deduction for an impairment charge of £4.8m alongside the reorganisation and redundancy costs and capital costs of moving production from Wednesbury to Corby.
BT62 2 AB