Belfast Telegraph

Company Report: Manderley Food Group

 

John Simpson

By John Simpson

Manderley Food Group produces and distributes potato crisps and snack foods. The group is registered in England with headquarters in Corby.

The principal shareholders are the Hutchinson family in Tandragee who have built the group originally from an earlier Northern Ireland company, Tayto. The larger group has developed through acquisitions by the original shareholders who purchased a number of production units in England.

The financial results show continuing profitability over the last three years which has been underpinned by a steady annual increase in turnover but with lower net profit margins. In a cautionary note as part of the group strategic report, the business recognises that Brexit, exchange rate movements and raw material price inflation are presenting competitive challenges.

Towards the end of the last financial year, Tayto Group acquired CGC (Liverpool) and its subsidiary companies including The Real Pork Crackling Company.

This acquisition attracted a merger inquiry by the Competition and Markets Authority and was cleared on November 13, 2018. Also last year, the group sold its share of Ape Snacks Ltd.

In recent years the group has delivered a continuing significant level of annual capital investment. Capital spending in 2017-18 was over £5.3m and this was supplemented by spending of £2.7m on fixed asset investments.

Employment in the group has been stable at over 1,350 people. Last year, employment averaged 1,410 people.

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The balance sheet value of shareholders' funds at £55.7m fell by 2% in the year to June 30, 2018.

Belfast Telegraph

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