Cranswick brings home the bacon with Christmas trading
Pork processor Cranswick’s third-quarter trading statement revealed an improvement on last year’s sales, attributed to sales growth from fresh pork.
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Underlying sales volumes were up 2% in the three months to 31 December 2014, although underlying revenues were down 3% due to lower input costs being passed through to the group’s customers.
Cranswick said in a statement: “The markets in which Cranswick operates continue to be competitive, but the group remains focused on delivering innovative products of the highest quality and exceptional service levels to its customers.”
October’s acquisition of Benson Park saw Cranswick move into the poultry sector, although the business is not yet included in underlying results as the purchase occurred in the second quarter.
However, the company said the integration of Benson Park was in line with the board’s expectations and will be completed during the next financial year.
“This investment will create substantial additional capacity as well as enabling the business to offer a broader product range and further improve operating efficiencies,” a spokesperson for Cranswick concluded.
Cranswick reported the board remained confident about the current financial year and for the long-term “success and development of the business”.