The parent company of the Tayto factory in Tandragee, Manderley Food Group, have responded to last year’s £600,000 loss by negotiating new inflationary prices with customers. The newly filed accounts for the snack company show a turnover of £206.6 million for the year ending on July 2, 2022, and a 14% rise in cost of sales to £164 million. Pre-tax profit totaled at £59,848, and with a £677,068 tax bill, the bottom line left Manderley £617,220 in the red.
In their review of their 2022 performance, the directors stated that input costs had increased due to reduced availability of certain commodities, as well as a general inflationary environment post-Covid and the Ukrainian war. They concluded negotiations with customers, allowing for new inflationary price increases. The Hutchinson family are the main shareholders of the Manderley Food Group and the operation has grown in recent years due to acquisitions such as The Real Pork Company and popcorn brands Pop Notch and Portlebay Popcorn.
Looking ahead, the directors have noted that the crisps and snacks market is challenging, with competition in the retail sector and pressure on consumers due to the cost of living crisis. In addition, the company has seen unprecedented price inflation due to global supply and demand post-pandemic, the Ukrainian-Russian conflict, and a shortage of skilled labour. They plan to keep investing in the group’s manufacturing assets in order to stay competitive in the market.
