Profit growth for owner of Northern Irish Tayto crisps
The parent of Tayto Crisps, the Northern Irish producer of snack
foods, increased profits substantially last year in the face of the fierce competition in the UK snacks market.
Manderley Food Group, headquartered in Corby and whose directors
include the Hutchinson family who founded Tayto in Tandragee, countyArmagh 60 years ago, made a pre-tax profit of £14.4 million on a turnover of £174.2 million in the 12 months to last June.
And after tax, the profits increased from £2.9 million to
almost £5 million.
The Manderley Group is the parent name of the group of companies
bought by the Hutchinson family members of Northern Ireland who
originally founded Tayto Crisps in 1956. The group has grown
quickly through acquisitions.
In 2006, it acquired the Corby and Scunthorpe sites of the former
Golden Wonder business, and a year later acquired Sirhowy Valley
Foods, makers of the Real Crisps range.
Acquisitions followed of Red Mill Snack foods and then Jonathan
Crisp, self-styled as the "crisp for snobs" and renowned for its
memorable caricature-type illustrations featured on each pack.
In its statement with the financial report, the Manderley directors said: "The crisps and snack 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 materialprices (potatoes), the directors are confident that the group has
adequate resources to continue operating for the foreseeable future."
foods, increased profits substantially last year in the face of the fierce competition in the UK snacks market.
Manderley Food Group, headquartered in Corby and whose directors
include the Hutchinson family who founded Tayto in Tandragee, countyArmagh 60 years ago, made a pre-tax profit of £14.4 million on a turnover of £174.2 million in the 12 months to last June.
And after tax, the profits increased from £2.9 million to
almost £5 million.
The Manderley Group is the parent name of the group of companies
bought by the Hutchinson family members of Northern Ireland who
originally founded Tayto Crisps in 1956. The group has grown
quickly through acquisitions.
In 2006, it acquired the Corby and Scunthorpe sites of the former
Golden Wonder business, and a year later acquired Sirhowy Valley
Foods, makers of the Real Crisps range.
Acquisitions followed of Red Mill Snack foods and then Jonathan
Crisp, self-styled as the "crisp for snobs" and renowned for its
memorable caricature-type illustrations featured on each pack.
In its statement with the financial report, the Manderley directors said: "The crisps and snack 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 materialprices (potatoes), the directors are confident that the group has
adequate resources to continue operating for the foreseeable future."