The Accounts · daily brief
16 September 2026
Break-up basis and a £14.2m dividend at Pipers Crisps
The takeaways
- Pipers Crisps filed its latest accounts on a break-up basis as the PepsiCo subsidiary winds down
- Turnover fell sharply to £2.5m, moving the prior year's £21.5m operating profit into a £68k loss
- A £14.2m dividend was paid before year-end, and the auditor issued a disclaimer of opinion
Pipers Crisps Limited [1]
Operating as a subsidiary of the US-listed food and beverage group PepsiCo, the company manufactures premium potato crisps under the Pipers brand, primarily supplying the out-of-home hospitality sector and international export markets.
Break-up basis
| Line | FY22 | FY21 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £2.5m | £12.9m | ▼ −80% |
| Gross profit | £1.1m | £5.5m | ▼ −80% |
| Admin expenses | £1.1m | £6m | ▼ −81% |
| Operating profit | −£67,920 | £21.5m | ▼ −100% |
| Finance costs | £44,153 | £44,153 | ▲ −0% |
| Profit before tax | −£67,920 | £21.5m | ▼ −100% |
| Net profit | −£67,920 | £17.3m | ▼ −100% |
| Cash & balance sheet | |||
| Cash | £2.9m | £6.9m | ▼ −58% |
| Net assets | £2.7m | £2.8m | ▼ −2% |
| Dividends paid | £14.2m | — | |
Operations are being wound down at this PepsiCo subsidiary. The directors have explicitly prepared these accounts on a break-up basis, and the trading numbers reflect a cessation of activity, with turnover dropping heavily to £2.5m. Prior to the period end, a £14.2m dividend was paid, leaving just £2.7m in net assets, and auditor Crowe issued a disclaimer of opinion on the remaining balances.
Nothing left in the packet but crumbs.
Sources
- Pipers Crisps Limited