Hula Hoop owner KP Snacks profits have soared to almost £100m during 2023, despite the crisps manufacturer suffering a cyber attack.

In the 2023 financial year, KP Snacks, which has a portfolio that includes Mccoy’s, Terrell’s, KP Nuts and Popchips, reported a pre-tax profit of £93.7m, an increase from £64.3m in 2022.

The snacks manufacturer also saw sales jump to £626.7m from £546m in the same period.

The company said its growth had been achieved despite inflationary pressures in the supply chain – levels not seen since 2008 – which impacted the whole food industry, and a cyber attack in 2022, which had a “significant impact” on the business.

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KP Snacks said: “Pricing, mix, revenue management and cost savings supported the recovery of 2023 inflation. Growth was also supported by lapping the KP cyber attack in 2022, which whilst effectively managed, had a significant impact on our business last year.

“KP grew share in 2023 and continued to strengthen its branded position in the UK crisps, snacks, popcorn and nuts market.

“Gross profit margin has increased back to 2021 levels of 47.7% from 46% as a result of mix management with brands growing ahead of own label, the lapping of the cyber attack, cost savings from investments in our sites and brands, manufacturing efficiencies and hedging strategies delaying some inflationary pressures.”

Earlier this year, KP Snacks boosted its sustainability push with the axing of over 100 tonnes of plastic packaging annually, as it invested in new flow wrap equipment.