Snacks group Tayto returns to profit in 2023

Sales grow to more than £250m as pre-tax profit comes in at £4.2m

Latest accounts show that Tayto Group has returned to profitability
Latest accounts show that Tayto Group has returned to profitability

Co Armagh snacks maker Tayto Group Ltd has returned to profitability after an inflation-impacted 2022 year end.

Accounts in the year to June 2023 show that sales grew to £250.3 million from £206.5 million, as a result of both inflation price recovery and an increased volume of sales.

Profit before tax for the year was £4.2 million (some1.7% of sales).

The company, part of the Manderley Group, says it has benefited from consumers buying more retailer brands, as well as price recovery of the inflation impact on its input costs.

Tayto Group is the largest UK-owned crisp and snack manufacturer, producing over five million packs a day across its sites.

The company continued to manufacture snacks for all of the major retailers as well as selling its own Tayto, Golden Wonder, Real, Mr Porky and Midland Snacks brands, manufactured in its facility in Tandragee and at four factories across England.

The directors said the crisps and snacks market remains a challenging environment with increased retailer competition and cost of living pressures on consumers.

Tayto Group says it continues to engage with all stakeholders to provide the best value for money for consumers by reinvesting in its business to drive efficiencies.

Group chief executive Fergal McCann said: “The directors are pleased with the performance of the group despite the challenges of inflation, labour availability and the continued challenges that adverse weather has had on the potato harvest. The company’s employees have all played their part in this encouraging result.”

Tayto Crisps
In February iconic crisp brand Tayto begun recruiting tour guides for its Tayto Castle tours, which will recommence later this year after a two-year break

The main shareholders of Tayto’s parent firm the Manderley Food Group - which has yet to file its accounts - are members of the Hutchinson family.

While still headquartered in Tandragee, the operation has grown in recent years through acquisitions including The Real Pork Company and popcorn brands Pop Notch and Portlebay Popcorn.

The group has a total workforce of more than 1,300.