Cranswick brings home the bacon
BRITAIN’S growing fondness of pork – now hailed as the alternative white meat – is helping to boost Cranswick’s fortunes.
The Hull-based food manufacturer has revealed that pre-tax profits rose 26% for the year ended March 31 from £34.7m to £43.8m.
Revenues grew by 22% for the period to £740m compared to £607m for the previous financial year.
Cranswick, which is behind brands such as Lazenby’s sausages, said that there were strong increase in categories such as cooked meat, which saw a 13% rise in sales. Sausage sales rose by 23% and bacon by an impressive 61%.
It said there were plans for futher investment in its production capabilities and that the coming year would see the completion of a fresh pork facility in Hull.
Planned projects include the expansion of Cranswick’s air-dried bacon factory at Sherburn, which was commissioned two years ago.
The largest project the group has undertaken to date is the redevelopment of its primary pork processing facility near Hull. When completed later this year production capacity will lift by 50%.
The group has also expanded into other areas with continental products sales rising 8%. Premier Deli also performed well with the introduction of fresh olives and antipasti proving popular with customers.
New brands include a planned launch of a range of charcuterie under the ‘Jamie Oliver’ brand. The range will also include fresh pasta, sausage, fresh pork and bacon products.
Cranswick Chairman Martin Davey said: “During the past year the company has continued to progress and has further established its presence in the UK food sector.
“There has again been significant investment in the group’s asset base to enable the organic growth of the business to be maintained.”
He continued: “The past year has seen increased expenditure by the consumer on products such as air-dried bacon, premium sausages, fresh pork and ham and this looks set to continue as the value and versatility of pork, the ‘alternative white meat’, are increasingly appreciated.”
