Cranswick builds on £1bn revenue growth

FRESH foods supplier Cranswick is building on the success of surpassing the £1bn turnover mark last year, and having acquired a £40m poultry business in April.

Revenue has increased 6.6% to £1.07bn for the year to 31 March 2016, from £1.0bn the year before.

Sales growth across its poultry divisions, including the newly integrated Benson Park business, which was acquired in October 2014, helped increase revenues.

Pretax profits for the year also increased to £58.7m from £53.7m the year before.

It invested £34m during the year on additional capacity at its facilities and acquisitions, as well as acquiring Norfolk-based Crown Chicken and parent company CCL Holdings from the Thacker family earlier this year.

Cranswick chairman Martin Davey said: “The past year has been one of strong commercial growth and continued strategic development for Cranswick. This has enabled sales, which exceeded £1 billion for the first time a year ago, to progress further.

“The acquisition in October 2014 of Benson Park, a leading producer of premium British cooked poultry products, was complemented by the acquisition last month of CCL Holdings (‘Crown’). Crown is a leading integrated poultry producer supplying a broad customer base across grocery retail, food service, wholesale and manufacturing channels.

“The Board considers that Cranswick now has a base from which to move forward and develop a strong presence in the poultry sector over the longer term.”

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