Cranswick reaps rewards of aggressive growth strategy
CRANSWICK, the fresh food supplier that has embarked on an aggressive growth strategy is seeing its efforts rewarded.
Company revenue is reportedly ahead by 15.9% for the half year to 30 September, at £580.8m, up from £510m in 2015.
During the year it acquired Crown, a poultry company for £40m, and Dunbia Ballymena, a £72m-turnover Northern Irish pork processing business. It also sold its sandwich business The Sandwich Factory for £15m back in July 2016.
Cranswick’s interim dividend is being increased by 12.9% to 13.1p per share.
Martin Davey, Cranswick’s chairman commented: “The business performed strongly during the first half of the year.
“Crown has made a particularly positive contribution to the business, is combining well with the Group’s pre-existing poultry activity and is being integrated in line with plan.
“Cranswick has made further commercial and strategic progress during the period whilst working closely with customers to maintain its focus on service, quality and innovation in delivering appealing and competitively priced products to the consumer.
“The Board believes that Cranswick remains well positioned to deliver our expectations for the current financial year and also to meet the challenges that may arise as it continues its successful long-term development.”
