Strong sales growth for Cranswick
CRANSWICK, the Yorkshire food producer, today said it has seen strong sales growth during the first half of the year.
In an update on trading for the six months to September 30 2013, the East Yorkshire-based business, which processes and supplies fresh pork, sausage, bacon, cooked meats, charcuterie, pastry products and sandwiches, said underlying turnover was 13% ahead of the same period last year, with the fresh pork and bacon categories growing particularly strongly. Cranswick said the attractiveness, versatility and low relative price of pork to other proteins remain key to this positive trend.
Cranswick also announced that total sales for the six months were 15% higher after taking into account the contribution from Kingston Foods which was acquired in 2012 and modest third party sales made by Wayland Farms which was acquired earlier this year, primarily to meet internal requirements.
The group’s gourmet pastry facility at Malton, North Yorkshire was fully commissioned during the period, albeit with higher than anticipated start-up costs, enabling the company to further develop its existing business by offering a range of premium savoury pastry products. Cranswick said sales continue to make “pleasing progress”.
Cranswick said it will continue to work closely with its customers and maintain focus on service, quality and innovation to deliver exciting, competitively priced products.
It said: “This approach, allied to a growing export trade, a broadening product portfolio and an increasing demand for premium British pork products by the UK consumer, leaves the business well placed to deliver further growth.”
The board’s current expectation is that the full year should see operating profits at a similar level to last year.
The company intends to announce its interim results next month.
